Obsidian Energy (TSE:OBE) Shares Pass Below Fifty Day Moving Average – Here’s Why

Obsidian Energy Ltd. (TSE:OBE)’s share price passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$13.83 and traded as low as C$13.68. Obsidian Energy shares last traded at C$14.25, with a volume of 320,764 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts recently commented on OBE shares. Raymond James Financial increased their price target on Obsidian Energy from C$19.00 to C$20.00 and gave the company an “outperform” rating in a research report on Tuesday, June 2nd. Royal Bank Of Canada raised shares of 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 assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$14.00.

Obsidian Energy Price Performance

The business’s 50 day simple moving average is C$13.83 and its 200-day simple moving average is C$13.09. The stock has a market capitalization of C$951.57 million, a price-to-earnings ratio of 1,425.00, a P/E/G ratio of 0.08 and a beta of -0.30. The company has a quick ratio of 0.41, a current ratio of 0.58 and a debt-to-equity ratio of 19.51.

Obsidian Energy (TSE:OBE) last announced its quarterly earnings data on Thursday, July 30th. The company reported C$0.61 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$181.30 million during the quarter. On average, research analysts forecast that Obsidian Energy Ltd. will post 1.5996205 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Stephen Loukas bought 10,000 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was purchased at an average cost of C$17.99 per share, for a total transaction of C$179,900.00. Following the completion of the transaction, the director owned 1,321,146 shares of the company’s stock, valued at C$23,767,416.54. This trade represents a 0.76% increase in their ownership of the stock. Also, Director Edward Hume Kernaghan acquired 3,000 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The stock was acquired at an average price of C$11.25 per share, with a total value of C$33,750.00. Following the acquisition, the director owned 4,032,914 shares in the company, valued at C$45,370,282.50. The trade was a 0.07% increase in their ownership of the stock. Insiders purchased a total of 30,600 shares of company stock worth $461,458 in the last three months. 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.