Obsidian Energy (TSE:OBE) Trading 6.6% Higher – Here’s Why

Obsidian Energy Ltd. (TSE:OBE)’s stock price rose 6.6% during trading on Wednesday . The stock traded as high as C$12.35 and last traded at C$12.32. Approximately 313,534 shares were traded during mid-day trading, a decline of 17% from the average daily volume of 379,022 shares. The stock had previously closed at C$11.56.

Analysts Set New Price Targets

OBE has been the subject of a number of recent research reports. Royal Bank Of Canada upgraded Obsidian Energy to a “hold” rating in a research note on Monday, May 11th. Raymond James Financial upped their price target on Obsidian Energy from C$19.00 to C$20.00 and gave the stock an “outperform” rating in a report on Tuesday, June 2nd. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Obsidian Energy currently has an average rating of “Moderate Buy” and an average price target of C$14.00.

Obsidian Energy Stock Performance

The firm has a market capitalization of C$824.70 million, a price-to-earnings ratio of 1,235.00, a price-to-earnings-growth ratio of 0.08 and a beta of -0.30. The company has a debt-to-equity ratio of 19.51, a quick ratio of 0.41 and a current ratio of 0.58. The stock’s fifty day moving average is C$15.37 and its two-hundred day moving average is C$12.46.

Obsidian Energy (TSE:OBE) last issued its quarterly earnings data on Thursday, May 7th. The company reported C($0.27) EPS for the quarter. The firm had revenue of C$138.50 million during the quarter. Obsidian Energy had a return on equity of 0.08% and a net margin of 0.21%. Analysts forecast that Obsidian Energy Ltd. will post 1.5996205 earnings per share for the current year.

Insider Buying and Selling

In other Obsidian Energy news, Director Stephen Loukas acquired 10,000 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were bought at an average cost of C$17.99 per share, for a total transaction of C$179,900.00. Following the acquisition, the director directly owned 1,321,146 shares of the company’s stock, valued at C$23,767,416.54. This trade represents a 0.76% increase in their ownership of the stock. Also, insider Gareth Robin Sykes sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of C$17.74, for a total value of C$88,700.00. Following the completion of the transaction, the insider directly owned 147,977 shares in the company, valued at approximately C$2,625,111.98. The trade was a 3.27% decrease in their ownership of the stock. In the last 90 days, insiders have acquired 18,600 shares of company stock valued at $326,692. 1.20% of the stock is owned by insiders.

Obsidian Energy Company Profile

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.