Obsidian Energy (TSE:OBE) Trading Down 7.3% – Here’s Why
by Sarita Garza · The Markets DailyObsidian Energy Ltd. (TSE:OBE – Get Free Report) shares dropped 7.3% on Friday . The stock traded as low as C$12.56 and last traded at C$12.87. Approximately 186,762 shares were traded during mid-day trading, a decline of 48% from the average daily volume of 360,114 shares. The stock had previously closed at C$13.89.
Analysts Set New Price Targets
OBE has been the subject of several recent analyst reports. Raymond James Financial upgraded shares of Obsidian Energy from a “hold” rating to a “moderate buy” rating and raised their target price for the company from C$10.00 to C$15.00 in a research note on Monday, March 30th. BMO Capital Markets upped their target price on Obsidian Energy from C$10.00 to C$12.00 and gave the company an “outperform” rating in a research report on Friday, February 20th. Finally, Royal Bank Of Canada upped their target price on Obsidian Energy from C$9.00 to C$10.00 and gave the company a “hold” rating in a research report on Friday, February 20th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$12.33.
Read Our Latest Stock Report on Obsidian Energy
Obsidian Energy Stock Down 0.6%
The business’s 50 day moving average is C$11.72 and its 200 day moving average is C$9.71. The company has a market capitalization of C$933.17 million, a price-to-earnings ratio of 28.18, a PEG ratio of 0.08 and a beta of -0.34. The company has a debt-to-equity ratio of 15.52, a quick ratio of 0.41 and a current ratio of 0.54.
Obsidian Energy (TSE:OBE – Get Free Report) last released its earnings results on Thursday, February 19th. The company reported C($0.18) EPS for the quarter. Obsidian Energy had a return on equity of 2.51% and a net margin of 5.85%.The company had revenue of C$114.80 million during the quarter. Sell-side analysts anticipate that Obsidian Energy Ltd. will post 1.5996205 earnings per share for the current year.
Insider Activity
In related news, insider Gareth Robin Sykes sold 7,850 shares of the company’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of C$12.04, for a total value of C$94,514.00. Following the transaction, the insider directly owned 132,244 shares of the company’s stock, valued at C$1,592,217.76. This represents a 5.60% decrease in their position. Over the last 90 days, insiders sold 14,735 shares of company stock valued at $178,579. 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.