Obsidian Energy (TSE:OBE) Sets New 52-Week High – Time to Buy?

Obsidian Energy Ltd. (TSE:OBE) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$9.96 and last traded at C$9.74, with a volume of 88807 shares. The stock had previously closed at C$9.72.

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada increased their price objective 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 investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Obsidian Energy currently has an average rating of “Hold” and an average target price of C$10.83.

Obsidian Energy Trading Down 0.2%

The company has a debt-to-equity ratio of 20.55, a quick ratio of 0.41 and a current ratio of 0.45. The firm has a market capitalization of C$651.03 million, a P/E ratio of -3.17, a price-to-earnings-growth ratio of 0.08 and a beta of -0.06. The firm has a 50 day moving average price of C$8.52 and a two-hundred day moving average price of C$8.42.

Obsidian Energy (TSE:OBE) last issued its quarterly earnings results on Thursday, October 30th. The company reported C$0.24 earnings per share for the quarter. Obsidian Energy had a return on equity of 6.99% and a net margin of 16.27%.The firm had revenue of C$114.30 million for the quarter. On average, equities research analysts expect that Obsidian Energy Ltd. will post 1.5996205 EPS for the current fiscal year.

Insider Activity

In related news, Director Edward Hume Kernaghan purchased 5,600 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The stock was acquired at an average cost of C$7.90 per share, for a total transaction of C$44,240.00. Following the completion of the acquisition, the director owned 3,729,414 shares in the company, valued at C$29,462,370.60. This trade represents a 0.15% increase in their position. Insiders have purchased 37,500 shares of company stock valued at $295,041 over the last ninety days. 1.20% of the stock is owned by corporate insiders.

Obsidian Energy Company Profile

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.