Obsidian Energy (TSE:OBE) Trading 7.9% Higher – What’s Next?

Obsidian Energy Ltd. (TSE:OBE) rose 7.9% on Friday . The company 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 daily volume of 380,423 shares. The stock had previously closed at C$12.47.

Wall Street Analyst Weigh In

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

Obsidian Energy Trading Up 8.2%

The firm has a 50-day moving average price of C$14.49 and a 200-day moving average price of C$12.69. 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 has a market cap of C$900.82 million, a PE ratio of 1,349.00, a price-to-earnings-growth ratio of 0.08 and a beta of -0.30.

Obsidian Energy (TSE:OBE) last announced 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 for the quarter. Obsidian Energy had a net margin of 0.21% and a return on equity of 0.08%. As a group, equities analysts anticipate that Obsidian Energy Ltd. will post 1.5996205 EPS for the current fiscal year.

Insider Transactions at Obsidian Energy

In other news, Director Edward Hume Kernaghan bought 3,000 shares of the company’s stock in a transaction dated Monday, July 6th. The shares were purchased at an average price of C$11.25 per share, for a total transaction of C$33,750.00. Following the completion of the purchase, 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. Also, Director Stephen Loukas purchased 10,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were purchased at an average price of C$17.99 per share, for a total transaction of C$179,900.00. Following the acquisition, the director owned 1,321,146 shares of the company’s stock, valued at approximately C$23,767,416.54. The trade was a 0.76% increase in their ownership of the stock. Over the last 90 days, insiders have bought 30,600 shares of company stock worth $461,458. Corporate insiders own 1.20% of the company’s stock.

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.