Obsidian Energy (TSE:OBE) Stock Price Up 0.1% – Here’s Why

Obsidian Energy Ltd. (TSE:OBE)’s share price shot up 0.1% on Thursday . The company traded as high as C$8.12 and last traded at C$8.07. 169,696 shares changed hands during trading, an increase of 4% from the average session volume of 162,790 shares. The stock had previously closed at C$8.06.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada lowered their target price on Obsidian Energy from C$15.00 to C$13.00 in a research note on Tuesday, September 17th.

Obsidian Energy Price Performance

The company has a market cap of C$613.40 million, a price-to-earnings ratio of 6.16, a PEG ratio of 0.08 and a beta of 2.30. The company’s 50 day moving average price is C$8.54 and its 200 day moving average price is C$9.82. The company has a current ratio of 0.49, a quick ratio of 0.41 and a debt-to-equity ratio of 22.94.

Obsidian Energy (TSE:OBE) last posted its quarterly earnings results on Thursday, August 1st. The company reported C$0.46 earnings per share (EPS) for the quarter. Obsidian Energy had a net margin of 15.81% and a return on equity of 6.56%. The firm had revenue of C$208.40 million during the quarter. Equities research analysts forecast that Obsidian Energy Ltd. will post 1.5996205 earnings per share for the current year.

Insider Buying and Selling at Obsidian Energy

In related news, Director Gordon Malcolm Ritchie purchased 11,000 shares of the stock in a transaction dated Thursday, September 5th. The shares were acquired at an average cost of C$7.99 per share, with a total value of C$87,890.00. In other news, Director Michael Faust acquired 40,200 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average cost of C$6.21 per share, with a total value of C$249,654.06. Also, Director Gordon Malcolm Ritchie acquired 11,000 shares of Obsidian Energy stock in a transaction that occurred on Thursday, September 5th. The shares were purchased at an average cost of C$7.99 per share, with a total value of C$87,890.00. 1.20% of the stock is owned by corporate insiders.

Obsidian Energy Company Profile

Obsidian Energy Ltd. engages in the exploration, production, and development of oil and natural gas properties in the Western Canada. The company was formerly known as Penn West Petroleum Ltd. and changed its name to Obsidian Energy Ltd. in June 2017. Obsidian Energy Ltd. is headquartered in Calgary, Canada.