Obsidian Energy (TSE:OBE) Shares Down 8.9% – What’s Next?
by Mitch Edgeman · The Markets DailyObsidian Energy Ltd. (TSE:OBE – Get Free Report) traded down 8.9% during trading on Wednesday . The company traded as low as C$11.83 and last traded at C$12.37. 323,626 shares were traded during mid-day trading, a decline of 9% from the average session volume of 355,638 shares. The stock had previously closed at C$13.58.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on OBE shares. Raymond James Financial raised Obsidian Energy from a “hold” rating to a “moderate buy” rating and increased their price target for the company from C$10.00 to C$15.00 in a research note on Monday, March 30th. Royal Bank Of Canada lifted their price objective on Obsidian Energy from C$9.00 to C$10.00 and gave the stock a “hold” rating in a research note on Friday, February 20th. Finally, BMO Capital Markets increased their target price on shares of 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. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Obsidian Energy presently has an average rating of “Moderate Buy” and a consensus price target of C$12.33.
Check Out Our Latest Research Report on Obsidian Energy
Obsidian Energy Trading Down 9.6%
The firm has a market cap of C$825.86 million, a price-to-earnings ratio of 25.04, a price-to-earnings-growth ratio of 0.08 and a beta of -0.34. The company has a debt-to-equity ratio of 15.52, a current ratio of 0.54 and a quick ratio of 0.41. The firm’s fifty day moving average is C$11.29 and its 200-day moving average is C$9.53.
Obsidian Energy (TSE:OBE – Get Free Report) last issued its quarterly earnings results on Thursday, February 19th. The company reported C($0.18) earnings per share for the quarter. Obsidian Energy had a return on equity of 2.51% and a net margin of 5.85%.The business had revenue of C$114.80 million for the quarter. Equities analysts anticipate that Obsidian Energy Ltd. will post 1.5996205 earnings per share for the current year.
Insider Transactions at Obsidian Energy
In other Obsidian Energy news, insider Gareth Robin Sykes sold 7,850 shares of the stock in a transaction that occurred 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 transaction, the insider directly owned 132,244 shares in the company, valued at approximately C$1,592,217.76. This represents a 5.60% decrease in their position. Insiders sold 14,735 shares of company stock valued at $178,579 over the last quarter. 1.20% of the stock is currently owned by 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.