Obsidian Energy (TSE:OBE) Stock Falls 3% – Time to Sell?

Obsidian Energy Ltd. (TSE:OBE)’s share price dropped 3% during mid-day trading on Tuesday. The company traded as low as C$16.14 and last traded at C$16.58. 395,975 shares changed hands during trading, an increase of 7% from the average daily volume of 368,390 shares. The stock had previously closed at C$17.10.

Obsidian Energy Stock Down 3.0%

The firm’s 50 day moving average price is C$16.08 and its 200-day moving average price is C$15.17. The company has a current ratio of 0.78, a quick ratio of 0.41 and a debt-to-equity ratio of 26.77. The company has a market cap of C$1.11 billion, a P/E ratio of 39.48, a price-to-earnings-growth ratio of 0.08 and a beta of -0.04.

Obsidian Energy (TSE:OBE) last posted its quarterly earnings results on Thursday, July 30th. The company reported C$0.61 earnings per share for the quarter. The business had revenue of C$176.10 million during the quarter. Obsidian Energy had a net margin of 4.96% and a return on equity of 2.00%. As a group, equities research analysts expect that Obsidian Energy Ltd. will post 1.60 EPS for the current year.

Insider Buying and Selling at Obsidian Energy

In other Obsidian Energy news, Director Edward Hume Kernaghan bought 50,500 shares of the stock in a transaction on Wednesday, August 5th. The stock was purchased at an average price of C$12.78 per share, with a total value of C$645,390.00. Following the acquisition, the director owned 4,083,414 shares of the company’s stock, valued at approximately C$52,186,030.92. The trade was a 1.25% increase in their ownership of the stock. Also, Director Michael Faust sold 40,200 shares of Obsidian Energy stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of C$17.02, for a total transaction of C$684,204.00. Following the sale, the director directly owned 17,857 shares of the company’s stock, valued at C$303,926.14. This represents a 69.24% decrease in their position. Over the last ninety days, insiders have acquired 52,000 shares of company stock valued at $667,304 and have sold 86,850 shares valued at $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.