Obsidian Energy (TSE:OBE) Shares Up 1.9% – What’s Next?

Shares of Obsidian Energy Ltd. (TSE:OBE) traded up 1.9% on Friday . The company traded as high as C$8.68 and last traded at C$8.58. 205,461 shares were traded during trading, a decline of 17% from the average session volume of 246,747 shares. The stock had previously closed at C$8.42.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada boosted their target price on shares of Obsidian Energy from C$9.00 to C$9.50 and gave the stock a “sector perform” rating in a report on Tuesday, October 7th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Obsidian Energy presently has an average rating of “Hold” and a consensus price target of C$10.83.

Obsidian Energy Stock Performance

The company has a current ratio of 0.45, a quick ratio of 0.41 and a debt-to-equity ratio of 20.55. The company has a market cap of C$575.86 million, a PE ratio of -2.80, a P/E/G ratio of 0.08 and a beta of -0.06. The firm’s 50-day simple moving average is C$8.35 and its two-hundred day simple moving average is C$8.30.

Obsidian Energy (TSE:OBE) last posted its quarterly earnings data on Thursday, October 30th. The company reported C$0.24 EPS for the quarter. The business had revenue of C$114.30 million during the quarter. Obsidian Energy had a net margin of 16.27% and a return on equity of 6.99%. As a group, research analysts anticipate that Obsidian Energy Ltd. will post 1.5996205 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Edward Hume Kernaghan bought 5,600 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The shares were purchased at an average price of C$7.90 per share, for a total transaction of C$44,240.00. Following the completion of the transaction, the director directly owned 3,729,414 shares in the company, valued at approximately C$29,462,370.60. This represents a 0.15% increase in their ownership of the stock. Insiders purchased a total of 37,500 shares of company stock valued at $295,041 in the last 90 days. 1.20% of the stock is owned by corporate insiders.

About Obsidian Energy

Obsidian Energy Ltd, is an intermediate-sized oil and gas producer with strategic assets in Alberta. It operates in a single reporting segment that is exploration, development and holding an interest in oil and natural gas properties and related production infrastructure in the Western Canada Sedimentary Basin. The company generates the majority of the revenue from the Crude oil sale.