Obsidian Energy (TSE:OBE) Stock Price Up 6.6% – Still a Buy?

Obsidian Energy Ltd. (TSE:OBE) traded up 6.6% during mid-day trading on Wednesday . The company traded as high as C$12.35 and last traded at C$12.32. 313,534 shares were traded during trading, a decline of 17% from the average daily volume of 379,022 shares. The stock had previously closed at C$11.56.

Analyst Ratings Changes

A number of research analysts have weighed in on OBE shares. Raymond James Financial increased their price target on Obsidian Energy from C$19.00 to C$20.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 2nd. Royal Bank Of Canada upgraded Obsidian Energy to a “hold” rating in a research note on Monday, May 11th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Obsidian Energy has an average rating of “Moderate Buy” and a consensus price target of C$14.00.

Obsidian Energy Trading Up 6.8%

The company has a quick ratio of 0.41, a current ratio of 0.58 and a debt-to-equity ratio of 19.51. The business’s fifty day moving average is C$15.37 and its 200-day moving average is C$12.46. The stock has a market capitalization of C$824.70 million, a PE ratio of 1,235.00, a P/E/G ratio of 0.08 and a beta of -0.30.

Obsidian Energy (TSE:OBE) last posted its quarterly earnings results on Thursday, May 7th. The company reported C($0.27) earnings per share for the quarter. The company had revenue of C$138.50 million for the quarter. Obsidian Energy had a return on equity of 0.08% and a net margin of 0.21%. As a group, analysts anticipate that Obsidian Energy Ltd. will post 1.5996205 EPS for the current fiscal year.

Insider Transactions at Obsidian Energy

In other Obsidian Energy news, insider Gareth Robin Sykes sold 5,000 shares of Obsidian Energy stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of C$17.74, for a total transaction of C$88,700.00. Following the transaction, the insider directly owned 147,977 shares of the company’s stock, valued at C$2,625,111.98. The trade was a 3.27% decrease in their ownership of the stock. Also, Director Stephen Loukas acquired 10,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were acquired at an average price of C$17.99 per share, with a total value of C$179,900.00. Following the completion of the purchase, the director owned 1,321,146 shares of the company’s stock, valued at C$23,767,416.54. This trade represents a 0.76% increase in their ownership of the stock. In the last three months, insiders have acquired 18,600 shares of company stock valued at $326,692. 1.20% of the stock is owned by company insiders.

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.