Obsidian Energy (TSE:OBE) Shares Up 0.9% – Should You Buy?

Obsidian Energy Ltd. (TSE:OBE) shot up 0.9% during mid-day trading on Friday . The company traded as high as C$7.83 and last traded at C$7.73. 223,664 shares traded hands during mid-day trading, a decline of 29% from the average session volume of 313,012 shares. The stock had previously closed at C$7.66.

Analysts Set New Price Targets

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

Obsidian Energy Stock Performance

The firm has a 50-day simple moving average of C$8.34 and a two-hundred day simple moving average of C$8.23. The company has a current ratio of 0.45, a quick ratio of 0.41 and a debt-to-equity ratio of 20.55. The company has a market capitalization of C$518.81 million, a price-to-earnings ratio of -2.53, a price-to-earnings-growth ratio of 0.08 and a beta of 0.13.

Obsidian Energy (TSE:OBE) last announced its quarterly earnings results on Thursday, October 30th. The company reported C$0.24 earnings per share (EPS) for the quarter. Obsidian Energy had a return on equity of 6.99% and a net margin of 16.27%.The business had revenue of C$114.30 million during the quarter. As a group, sell-side analysts forecast that Obsidian Energy Ltd. will post 1.5996205 earnings per share for the current fiscal year.

Insider Transactions at Obsidian Energy

In other Obsidian Energy news, Director Edward Hume Kernaghan bought 5,600 shares of the firm’s stock in a transaction on Thursday, November 6th. The stock was bought at an average cost of C$7.90 per share, with a total value of C$44,240.00. Following the completion of the transaction, the director directly owned 3,729,414 shares of the company’s stock, valued at approximately C$29,462,370.60. The trade was a 0.15% increase in their position. Insiders have purchased 37,500 shares of company stock valued at $295,041 in the last ninety days. 1.20% of the stock is owned by insiders.

About Obsidian Energy

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. The company generates the majority of the revenue from the Crude oil sale.