Obsidian Energy (OTCMKTS:OBELF) Shares Down 1% – Here’s Why

Obsidian Energy Ltd. (OTCMKTS:OBELF)’s stock price dropped 1% during trading on Wednesday . The stock traded as low as $7.68 and last traded at $7.75. Approximately 320,156 shares were traded during mid-day trading, a decline of 28% from the average daily volume of 441,679 shares. The stock had previously closed at $7.83.

Obsidian Energy Price Performance

The stock has a market cap of $625.69 million, a PE ratio of 1.86 and a beta of 2.47. The stock’s fifty day moving average is $6.40 and its 200-day moving average is $6.18. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.54 and a quick ratio of 0.54.

About Obsidian Energy

Obsidian Energy Ltd. is a Calgary-based independent oil and gas company specializing in the exploration, development and production of light oil and natural gas. The company focuses on generating stable cash flow through low-cost operations and disciplined capital investment. Its upstream activities are centered on exploiting long-life assets with upside potential in established plays.

The company’s core operations are located within the Western Canadian Sedimentary Basin, primarily in Alberta’s Montney and Cardium formations.