Obsidian Energy (TSE:OBE) Hits New 12-Month High – Should You Buy?

Obsidian Energy Ltd. (TSE:OBE)’s share price hit a new 52-week high on Thursday . The stock traded as high as C$13.64 and last traded at C$13.77, with a volume of 292542 shares changing hands. The stock had previously closed at C$13.08.

Wall Street Analyst Weigh In

A number of analysts have commented on OBE shares. BMO Capital Markets boosted their price target on shares of Obsidian Energy from C$10.00 to C$12.00 and gave the stock an “outperform” rating in a research report on Friday, February 20th. Raymond James Financial upgraded shares of Obsidian Energy from a “hold” rating to a “moderate buy” rating and boosted their price target for the stock from C$10.00 to C$15.00 in a research report on Monday, March 30th. Finally, Royal Bank Of Canada increased their target price on shares of Obsidian Energy from C$9.00 to C$10.00 and gave the company a “hold” rating in a research note on Friday, February 20th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$12.33.

Obsidian Energy Price Performance

The company has a debt-to-equity ratio of 15.52, a current ratio of 0.54 and a quick ratio of 0.41. The firm has a market cap of C$918.98 million, a price-to-earnings ratio of 27.76, a price-to-earnings-growth ratio of 0.08 and a beta of -0.34. The stock’s fifty day moving average price is C$11.64 and its 200-day moving average price is C$9.68.

Obsidian Energy (TSE:OBE) last posted its quarterly earnings data on Thursday, February 19th. The company reported C($0.18) earnings per share for the quarter. The firm had revenue of C$114.80 million for the quarter. Obsidian Energy had a return on equity of 2.51% and a net margin of 5.85%. Equities research analysts predict that Obsidian Energy Ltd. will post 1.5996205 EPS for the current fiscal year.

Insiders Place Their Bets

In other Obsidian Energy news, insider Gareth Robin Sykes sold 7,850 shares of Obsidian Energy stock in a transaction on Thursday, March 19th. The shares were sold at an average price of C$12.04, for a total transaction of C$94,514.00. Following the completion of the sale, the insider owned 132,244 shares of the company’s stock, valued at C$1,592,217.76. This trade represents a 5.60% decrease in their position. In the last quarter, insiders have sold 14,735 shares of company stock valued at $178,579. 1.20% of the stock is currently owned by corporate insiders.

About Obsidian Energy

Obsidian Energy is an intermediate-sized oil and gas producer with a well-balanced portfolio of high-quality assets, primarily in the Peace River, Willesden Green and Viking areas in Alberta. The Company’s business is to explore for, develop and hold interests in oil and natural gas properties and related production infrastructure in the Western Canada Sedimentary Basin.