Obsidian Energy (TSE:OBE) Stock Price Crosses Above 50 Day Moving Average – Here’s Why

Obsidian Energy Ltd. (TSE:OBE) crossed 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 traded.

Obsidian Energy Stock Up 2.2%

The company has a current ratio of 0.78, a quick ratio of 0.41 and a debt-to-equity ratio of 26.77. The firm’s fifty day moving average price is C$16.22 and its 200-day moving average price is C$13.97. The company has a market cap of C$1.10 billion, a price-to-earnings ratio of 39.12, a price-to-earnings-growth ratio of 0.08 and a beta of -0.04.

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

Insider Buying and Selling at Obsidian Energy

In other news, Director Michael Faust sold 40,200 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of C$17.02, for a total transaction of C$684,204.00. Following the sale, the director owned 17,857 shares of the company’s stock, valued at C$303,926.14. This trade represents a 69.24% decrease in their ownership of the stock. Also, Director Edward Hume Kernaghan acquired 50,500 shares of the business’s stock in a transaction dated 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 acquisition, the director directly owned 4,083,414 shares in the company, valued at C$52,186,030.92. This represents a 1.25% increase in their ownership of the stock. Over the last ninety days, insiders acquired 52,000 shares of company stock valued at $667,304 and sold 86,850 shares valued at $1,460,852. Insiders own 1.20% of the company’s stock.

Obsidian Energy Company Profile

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.