Obsidian Energy (TSE:OBE) Trading 6.1% Higher – What’s Next?

Obsidian Energy Ltd. (TSE:OBE)’s stock price shot up 6.1% on Thursday . The stock traded as high as C$15.37 and last traded at C$15.24. 250,663 shares traded hands during trading, a decline of 34% from the average daily volume of 382,463 shares. The stock had previously closed at C$14.36.

Wall Street Analyst Weigh In

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

Obsidian Energy Stock Up 6.5%

The company has a market capitalization of C$1.02 billion, a P/E ratio of 1,529.00, a PEG ratio of 0.08 and a beta of -0.30. 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 stock has a 50 day moving average price of C$14.25 and a 200 day moving average price of C$12.84.

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

Insider Activity at Obsidian Energy

In other Obsidian Energy news, Director Edward Hume Kernaghan bought 3,000 shares of the business’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 purchase, the director directly owned 4,032,914 shares of the company’s stock, valued at approximately C$45,370,282.50. This represents a 0.07% increase in their ownership of the stock. Also, insider Gareth Robin Sykes sold 5,000 shares of the 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 sale, the insider directly owned 147,977 shares of the company’s stock, valued at C$2,625,111.98. The trade was a 3.27% decrease in their ownership of the stock. Insiders have bought 30,600 shares of company stock valued at $461,458 over the last ninety days. 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.