Obsidian Energy (TSE:OBE) Stock Price Down 3.9% – Here’s What Happened

Obsidian Energy Ltd. (TSE:OBE)’s share price fell 3.9% during trading on Tuesday. The stock traded as low as C$14.42 and last traded at C$14.52. 338,862 shares changed hands during trading, a decline of 10% from the average session volume of 374,984 shares. The stock had previously closed at C$15.11.

Wall Street Analyst Weigh In

Separately, Raymond James Financial boosted their target price on shares of Obsidian Energy from C$19.00 to C$20.00 and gave the company an “outperform” rating in a report on Tuesday, June 2nd. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Obsidian Energy has an average rating of “Moderate Buy” and a consensus target price of C$14.00.

Obsidian Energy Trading Down 3.9%

The stock’s fifty day simple moving average is C$15.59 and its two-hundred day simple moving average is C$14.79. The firm has a market cap of C$968.86 million, a PE ratio of 34.57, a PEG ratio of 0.08 and a beta of -0.38. The company has a quick ratio of 0.41, a current ratio of 0.78 and a debt-to-equity ratio of 26.77.

Obsidian Energy (TSE:OBE) last released its earnings results on Thursday, July 30th. The company reported C$0.61 earnings per share (EPS) for the quarter. Obsidian Energy had a net margin of 4.96% and a return on equity of 2.00%. The firm had revenue of C$176.10 million during the quarter. On average, sell-side analysts forecast that Obsidian Energy Ltd. will post 1.5996205 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Stephen Loukas acquired 5,000 shares of the stock in a transaction on Tuesday, July 7th. The stock was acquired at an average price of C$11.17 per share, for a total transaction of C$55,850.00. Following the completion of the purchase, the director owned 1,663,711 shares of the company’s stock, valued at C$18,583,651.87. This represents a 0.30% increase in their ownership of the stock. Also, insider William Clifford Swadling sold 22,950 shares of the business’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of C$16.75, for a total value of C$384,412.50. Following the completion of the sale, the insider directly owned 205,277 shares in the company, valued at C$3,438,389.75. This trade represents a 10.06% decrease in their ownership of the stock. Over the last quarter, insiders have purchased 63,400 shares of company stock worth $793,016 and have sold 86,850 shares worth $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.