Obsidian Energy (TSE:OBE) Stock Price Down 8.1% – What’s Next?
by Amy Steele · The Cerbat GemObsidian Energy Ltd. (TSE:OBE – Get Free Report)’s share price was down 8.1% during trading on Thursday . The company traded as low as C$15.99 and last traded at C$16.17. Approximately 164,115 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 407,068 shares. The stock had previously closed at C$17.60.
Analysts Set New Price Targets
A number of equities research analysts have commented on OBE shares. Royal Bank Of Canada raised their target price on Obsidian Energy from C$9.00 to C$10.00 and gave the company a “hold” rating in a report on Friday, February 20th. BMO Capital Markets raised their target price on Obsidian Energy from C$10.00 to C$12.00 and gave the company an “outperform” rating in a report on Friday, February 20th. Finally, Raymond James Financial raised their target price on Obsidian Energy from C$14.00 to C$19.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Obsidian Energy currently has an average rating of “Moderate Buy” and an average price target of C$13.67.
View Our Latest Research Report on Obsidian Energy
Obsidian Energy Trading Down 1.1%
The company has a market cap of C$1.18 billion, a price-to-earnings ratio of 35.51, a P/E/G ratio of 0.08 and a beta of -0.21. The company has a quick ratio of 0.41, a current ratio of 0.54 and a debt-to-equity ratio of 15.52. The business has a fifty day simple moving average of C$13.36 and a 200 day simple moving average of C$10.42.
Obsidian Energy (TSE:OBE – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported C($0.27) earnings per share (EPS) for the quarter. The firm had revenue of C$138.50 million for the quarter. Obsidian Energy had a return on equity of 2.51% and a net margin of 5.85%. On average, equities analysts anticipate that Obsidian Energy Ltd. will post 1.5996205 EPS for the current fiscal year.
Insider Activity
In other news, insider Gareth Robin Sykes sold 7,850 shares of Obsidian Energy stock in a transaction on Thursday, March 19th. The stock was sold at an average price of C$12.04, for a total transaction of C$94,514.00. Following the completion of the transaction, the insider owned 132,244 shares of the company’s stock, valued at C$1,592,217.76. The trade was a 5.60% decrease in their position. Over the last three months, insiders sold 14,735 shares of company stock worth $178,579. 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.