Obsidian Energy (TSE:OBE) Stock Price Up 7.9% – Here’s Why

Obsidian Energy Ltd. (TSE:OBE) traded up 7.9% on Friday . The stock traded as high as C$13.67 and last traded at C$13.46. 326,346 shares changed hands during trading, a decline of 14% from the average session volume of 380,423 shares. The stock had previously closed at C$12.47.

Analyst Ratings Changes

Several equities research analysts have recently commented on OBE shares. Royal Bank Of Canada raised shares of Obsidian Energy to a “hold” rating in a research report on Monday, May 11th. Raymond James Financial increased their price target on Obsidian Energy from C$19.00 to C$20.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 2nd. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$14.00.

Obsidian Energy Price Performance

The company has a current ratio of 0.58, a quick ratio of 0.41 and a debt-to-equity ratio of 19.51. The business’s fifty day moving average price is C$14.56 and its 200-day moving average price is C$12.69. The company has a market capitalization of C$897.48 million, a P/E ratio of 1,344.00, a P/E/G ratio of 0.08 and a beta of -0.30.

Obsidian Energy (TSE:OBE) last posted its quarterly earnings results on Thursday, May 7th. The company reported C($0.27) EPS for the quarter. The business had revenue of C$138.50 million for the quarter. Obsidian Energy had a return on equity of 0.08% and a net margin of 0.21%. As a group, sell-side analysts predict that Obsidian Energy Ltd. will post 1.5996205 earnings per share for the current fiscal year.

Insider Activity at Obsidian Energy

In related news, insider Gareth Robin Sykes sold 5,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of C$17.74, for a total value of C$88,700.00. Following the completion of the sale, the insider owned 147,977 shares of the company’s stock, valued at C$2,625,111.98. This trade represents a 3.27% decrease in their ownership of the stock. Also, Director Edward Hume Kernaghan acquired 3,000 shares of the business’s stock in a transaction on Monday, July 6th. The shares were purchased at an average cost of C$11.25 per share, for a total transaction of C$33,750.00. Following the completion of the transaction, the director owned 4,032,914 shares in the company, valued at approximately C$45,370,282.50. This represents a 0.07% increase in their position. Insiders acquired a total of 30,600 shares of company stock worth $461,458 over the last quarter. 1.20% of the stock is 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.