Obsidian Energy (TSE:OBE) Reaches New 52-Week High – Here’s What Happened

Obsidian Energy Ltd. (TSE:OBE) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$16.92 and last traded at C$16.79, with a volume of 339360 shares changing hands. The stock had previously closed at C$15.99.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Raymond James Financial lifted their price target on shares of Obsidian Energy from C$14.00 to C$19.00 and gave the company an “outperform” rating in a research report on Friday. Royal Bank Of Canada boosted their price objective on 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. Finally, BMO Capital Markets boosted their price objective on Obsidian Energy from C$10.00 to C$12.00 and gave the company an “outperform” rating in a research note on Friday, February 20th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$13.67.

Obsidian Energy Stock Performance

The stock has a market cap of C$1.25 billion, a PE ratio of 37.67, a price-to-earnings-growth ratio of 0.08 and a beta of -0.34. 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 business has a 50 day moving average price of C$12.24 and a two-hundred day moving average price of C$9.94.

Obsidian Energy (TSE:OBE) last announced its earnings results on Thursday, February 19th. The company reported C($0.18) EPS for the quarter. The business had revenue of C$114.80 million for the quarter. Obsidian Energy had a net margin of 5.85% and a return on equity of 2.51%. As a group, equities research analysts forecast that Obsidian Energy Ltd. will post 1.5996205 EPS for the current fiscal year.

Insider Transactions at Obsidian Energy

In other Obsidian Energy news, insider Gareth Robin Sykes sold 7,850 shares of the stock in a transaction on Thursday, March 19th. The stock was sold at an average price of C$12.04, for a total value of C$94,514.00. Following the completion of the transaction, the insider owned 132,244 shares in the company, valued at approximately C$1,592,217.76. This represents a 5.60% decrease in their ownership of the stock. Insiders sold a total of 14,735 shares of company stock valued at $178,579 in the last ninety days. 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.