Obsidian Energy (NYSEAMERICAN:OBE) Issues Quarterly Earnings Results

Obsidian Energy (NYSEAMERICAN:OBE) (TSE:PWT) issued its quarterly earnings results on Thursday. The oil and gas company reported $0.19 earnings per share (EPS) for the quarter, Zacks reports. The firm had revenue of $99.62 million for the quarter. Obsidian Energy had a net margin of 4.63% and a return on equity of 2.00%.

Obsidian Energy Trading Up 4.7%

Shares of NYSEAMERICAN:OBE traded up $0.43 during midday trading on Friday, reaching $9.67. The company’s stock had a trading volume of 724,166 shares, compared to its average volume of 642,965. Obsidian Energy has a fifty-two week low of $5.55 and a fifty-two week high of $14.59. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a 50 day moving average price of $11.39 and a two-hundred day moving average price of $10.19. The firm has a market capitalization of $638.32 million, a price-to-earnings ratio of 32.23 and a beta of 0.31.

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial reaffirmed an “outperform” rating on shares of Obsidian Energy in a research note on Wednesday, September 16th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Obsidian Energy has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

Obsidian Energy Company Profile

Obsidian Energy Ltd. is a Canadian oil and natural gas exploration and production company headquartered in Calgary, Alberta. The company develops and produces crude oil, natural gas and natural gas liquids from conventional and light-oil assets in the Western Canadian Sedimentary Basin.

Obsidian Energy’s operations are concentrated in Alberta and are organized around core operating areas that include the Cardium, Peace River and Clearwater regions. Its activities include acquiring and developing petroleum properties, drilling and completing wells, and managing production and field infrastructure.

The company was formerly known as Penn West Petroleum Ltd.