Obsidian Energy (TSE:OBE) Shares Up 6.1% – Should You Buy?

Shares of Obsidian Energy Ltd. (TSE:OBE) rose 6.1% during trading on Thursday . The stock traded as high as C$15.37 and last traded at C$15.24. 250,663 shares were traded during mid-day trading, a decline of 34% from the average daily volume of 382,463 shares. The stock had previously closed at C$14.36.

Analyst Ratings Changes

Several research firms recently weighed in on OBE. Raymond James Financial boosted their price target 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 shares of Obsidian Energy to a “hold” rating in a research note on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Obsidian Energy currently has a consensus rating of “Moderate Buy” and an average price target of C$14.00.

Obsidian Energy Stock Down 1.1%

The stock has a fifty day moving average of C$14.12 and a 200 day moving average of C$12.90. The company has a debt-to-equity ratio of 19.51, a current ratio of 0.58 and a quick ratio of 0.41. The firm has a market capitalization of C$996.98 million, a P/E ratio of 1,493.00, 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) earnings per share (EPS) for the quarter. Obsidian Energy had a net margin of 0.21% and a return on equity of 0.08%. The business had revenue of C$138.50 million during the quarter. On average, research analysts anticipate that Obsidian Energy Ltd. will post 1.5996205 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Edward Hume Kernaghan purchased 3,000 shares of Obsidian Energy stock in a transaction that occurred on Monday, July 6th. The stock was bought at an average price of C$11.25 per share, for a total transaction of C$33,750.00. Following the completion of the transaction, the director owned 4,032,914 shares in the company, valued at 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 dated Tuesday, May 12th. The shares were sold at an average price of C$17.74, for a total transaction of C$88,700.00. Following the transaction, the insider owned 147,977 shares of the company’s stock, valued at approximately C$2,625,111.98. The trade was a 3.27% decrease in their position. In the last ninety days, insiders have purchased 30,600 shares of company stock valued at $461,458. 1.20% of the stock is owned by insiders.

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.