Obsidian Energy (TSE:OBE) Stock Price Down 7.3% – What’s Next?

Obsidian Energy Ltd. (TSE:OBE) traded down 7.3% during mid-day trading on Friday . The stock traded as low as C$12.56 and last traded at C$12.87. 186,762 shares changed hands during trading, a decline of 48% from the average session volume of 360,114 shares. The stock had previously closed at C$13.89.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Royal Bank Of Canada increased their target price on Obsidian Energy from C$9.00 to C$10.00 and gave the company a “hold” rating in a research report on Friday, February 20th. Raymond James Financial raised Obsidian Energy from a “hold” rating to a “moderate buy” rating and raised their price objective for the stock from C$10.00 to C$15.00 in a research report on Monday, March 30th. Finally, BMO Capital Markets raised their price objective on Obsidian Energy from C$10.00 to C$12.00 and gave the stock an “outperform” rating in a research report on Friday, February 20th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Obsidian Energy has an average rating of “Moderate Buy” and an average target price of C$12.33.

Obsidian Energy Trading Down 0.5%

The stock has a 50-day simple moving average of C$11.79 and a 200 day simple moving average of C$9.75. The company has a current ratio of 0.54, a quick ratio of 0.41 and a debt-to-equity ratio of 15.52. The company has a market cap of C$933.85 million, a price-to-earnings ratio of 28.20, a PEG ratio of 0.08 and a beta of -0.34.

Obsidian Energy (TSE:OBE) last issued its quarterly earnings results 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 firm had revenue of C$114.80 million for the quarter. As a group, equities research analysts predict that Obsidian Energy Ltd. will post 1.5996205 EPS for the current fiscal year.

Insider Buying and Selling

In other Obsidian Energy news, insider Gareth Robin Sykes sold 5,000 shares of Obsidian Energy stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of C$12.24, for a total transaction of C$61,200.00. Following the completion of the sale, the insider owned 132,244 shares of the company’s stock, valued at approximately C$1,618,666.56. The trade was a 3.64% decrease in their position. Over the last ninety days, insiders sold 14,735 shares of company stock worth $178,579. 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.