Obsidian Energy (TSE:OBE) Trading 1.9% Higher – Here’s Why

Shares of Obsidian Energy Ltd. (TSE:OBE) were up 1.9% during mid-day trading on Friday . The stock traded as high as C$8.68 and last traded at C$8.58. Approximately 205,461 shares changed hands during trading, a decline of 17% from the average daily volume of 246,747 shares. The stock had previously closed at C$8.42.

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada raised their price objective on shares of Obsidian Energy from C$9.00 to C$9.50 and gave the stock 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, the stock presently has an average rating of “Hold” and an average target price of C$10.83.

Obsidian Energy Price Performance

The stock has a fifty day moving average of C$8.35 and a 200-day moving average of C$8.30. The firm has a market capitalization of C$575.86 million, a P/E ratio of -2.80, a PEG ratio of 0.08 and a beta of -0.06. The company has a quick ratio of 0.41, a current ratio of 0.45 and a debt-to-equity ratio of 20.55.

Obsidian Energy (TSE:OBE) last posted its quarterly earnings data on Thursday, October 30th. The company reported C$0.24 earnings per share for the quarter. Obsidian Energy had a net margin of 16.27% and a return on equity of 6.99%. The firm had revenue of C$114.30 million during the quarter. Equities analysts predict that Obsidian Energy Ltd. will post 1.5996205 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Edward Hume Kernaghan acquired 6,900 shares of Obsidian Energy stock in a transaction on Tuesday, November 4th. The shares were purchased at an average price of C$7.85 per share, with a total value of C$54,165.00. Following the acquisition, the director owned 3,715,214 shares in the company, valued at C$29,164,429.90. This represents a 0.19% increase in their ownership of the stock. In the last three months, insiders have purchased 37,500 shares of company stock valued at $295,041. Insiders own 1.20% of the company’s stock.

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.