Obsidian Energy (TSE:OBE) Shares Up 1.9% – Here’s Why

Obsidian Energy Ltd. (TSE:OBE)’s stock price traded 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. 205,461 shares traded hands during trading, a decline of 17% from the average session volume of 246,747 shares. The stock had previously closed at C$8.42.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada raised their price target on Obsidian Energy from C$9.00 to C$9.50 and gave the stock a “sector perform” rating in a research note on Tuesday, October 7th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Obsidian Energy currently has an average rating of “Hold” and a consensus target price of C$10.83.

Obsidian Energy Price Performance

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

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

Insider Transactions at Obsidian Energy

In related news, Director Edward Hume Kernaghan bought 6,900 shares of the stock in a transaction on Tuesday, November 4th. The stock was bought at an average price of C$7.85 per share, for a total transaction of C$54,165.00. Following the completion of the acquisition, the director directly owned 3,715,214 shares in the company, valued at approximately C$29,164,429.90. This represents a 0.19% increase in their ownership of the stock. Insiders have purchased 37,500 shares of company stock worth $295,041 over the last 90 days. Company insiders own 1.20% of the company’s stock.

Obsidian Energy Company Profile

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.