Obsidian Energy (TSE:OBE) Hits New 12-Month High – Should You Buy?

Shares of Obsidian Energy Ltd. (TSE:OBE) hit a new 52-week high during trading on Monday . The stock traded as high as C$19.80 and last traded at C$19.60, with a volume of 155738 shares trading hands. The stock had previously closed at C$19.26.

Analyst Upgrades and Downgrades

OBE has been the subject of a number of analyst reports. Royal Bank Of Canada raised their price objective on shares of Obsidian Energy from C$9.00 to C$10.00 and gave the company a “hold” rating in a research note on Friday, February 20th. Raymond James Financial increased their price target on shares of Obsidian Energy from C$14.00 to C$19.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Finally, BMO Capital Markets raised their price target 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 analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Obsidian Energy has an average rating of “Moderate Buy” and a consensus price target of C$13.67.

Obsidian Energy Stock Performance

The stock has a market capitalization of C$1.33 billion, a P/E ratio of 40.10, a P/E/G ratio of 0.08 and a beta of -0.34. The company has a quick ratio of 0.41, a current ratio of 0.54 and a debt-to-equity ratio of 15.52. The business has a fifty day moving average price of C$13.06 and a 200-day moving average price of C$10.28.

Obsidian Energy (TSE:OBE) last released its quarterly earnings data on Thursday, February 19th. The company reported C($0.18) EPS 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 during the quarter. On average, sell-side analysts expect that Obsidian Energy Ltd. will post 1.5996205 EPS for the current year.

Insider Activity

In other news, insider Gareth Robin Sykes sold 5,000 shares of Obsidian Energy stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of C$12.24, for a total value of C$61,200.00. Following the completion of the sale, the insider directly owned 132,244 shares in the company, valued at C$1,618,666.56. The trade was a 3.64% decrease in their ownership of the stock. Over the last quarter, insiders have sold 14,735 shares of company stock worth $178,579. Company insiders own 1.20% of the company’s stock.

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.