Obsidian Energy (TSE:OBE) Trading Down 2.4% – Here’s Why

Obsidian Energy Ltd. (TSE:OBE) shares were down 2.4% on Tuesday . The company traded as low as C$7.70 and last traded at C$7.80. Approximately 288,092 shares were traded during mid-day trading, a decline of 11% from the average daily volume of 324,922 shares. The stock had previously closed at C$7.99.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada lifted their price objective on Obsidian Energy from C$9.00 to C$9.50 and gave the company a “sector perform” rating in a report on Tuesday, October 7th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Obsidian Energy presently has an average rating of “Hold” and an average target price of C$10.83.

Obsidian Energy Stock Performance

The stock’s 50-day moving average price is C$8.59 and its 200-day moving average price is C$7.79. The company has a debt-to-equity ratio of 20.55, a quick ratio of 0.41 and a current ratio of 0.45. The company has a market capitalization of C$523.50 million, a price-to-earnings ratio of -2.71, a P/E/G ratio of 0.08 and a beta of 0.13.

Insider Activity

In other news, Director Edward Hume Kernaghan sold 10,214 shares of Obsidian Energy stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of C$8.24, for a total transaction of C$84,163.36. Insiders own 1.20% of the company’s stock.

Obsidian Energy Company Profile

Obsidian Energy Ltd, is an intermediate-sized oil and gas producer with strategic assets in Alberta. It operates in a single reporting segment that is exploration, development and holding an interest in oil and natural gas properties and related production infrastructure in the Western Canada Sedimentary Basin.