Obsidian Energy (TSE:OBE) Stock Crosses Above 50-Day Moving Average – Should You Sell?

Shares of Obsidian Energy Ltd. (TSE:OBE) passed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of C$16.22 and traded as high as C$16.82. Obsidian Energy shares last traded at C$16.43, with a volume of 338,751 shares changing hands.

Obsidian Energy Price Performance

The company has a quick ratio of 0.41, a current ratio of 0.78 and a debt-to-equity ratio of 26.77. The business’s 50-day moving average is C$16.22 and its two-hundred day moving average is C$14.05. The company has a market capitalization of C$1.10 billion, a P/E ratio of 39.31, a price-to-earnings-growth ratio of 0.08 and a beta of -0.04.

Obsidian Energy (TSE:OBE) last released its quarterly earnings results on Thursday, July 30th. The company reported C$0.61 earnings per share for the quarter. Obsidian Energy had a net margin of 4.96% and a return on equity of 2.00%. The business had revenue of C$176.10 million for the quarter. As a group, analysts predict that Obsidian Energy Ltd. will post 1.60 earnings per share for the current year.

Insider Activity at Obsidian Energy

In related news, insider William Clifford Swadling sold 22,950 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of C$16.75, for a total transaction of C$384,412.50. Following the completion of the sale, the insider directly owned 205,277 shares of the company’s stock, valued at approximately C$3,438,389.75. This trade represents a 10.06% decrease in their ownership of the stock. Also, Director Edward Hume Kernaghan purchased 50,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were acquired at an average price of C$12.78 per share, for a total transaction of C$645,390.00. Following the completion of the acquisition, the director directly owned 4,083,414 shares of the company’s stock, valued at C$52,186,030.92. This trade represents a 1.25% increase in their position. Over the last three months, insiders acquired 51,500 shares of company stock valued at $660,019 and sold 86,850 shares valued at $1,460,852. 1.20% of the stock is currently owned by company 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.