Obsidian Energy (TSE:OBE) Stock Price Up 6.6% on Insider Buying Activity

Obsidian Energy Ltd. (TSE:OBE)’s share price shot up 6.6% on Wednesday after an insider bought additional shares in the company. The company traded as high as C$12.35 and last traded at C$12.32. Approximately 313,534 shares were traded during mid-day trading, a decline of 17% from the average session volume of 379,022 shares. The stock had previously closed at C$11.56.

Specifically, Director Stephen Loukas bought 5,000 shares of the business’s stock in a transaction dated Tuesday, July 7th. The shares were purchased at an average price of C$11.17 per share, for a total transaction of C$55,850.00. Following the purchase, the director directly owned 1,663,711 shares of the company’s stock, valued at approximately C$18,583,651.87. This represents a 0.30% increase in their ownership of the stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Royal Bank Of Canada upgraded shares of Obsidian Energy to a “hold” rating in a research report on Monday, May 11th. Raymond James Financial raised their price target on shares of Obsidian Energy from C$19.00 to C$20.00 and gave the company an “outperform” rating in a report on Tuesday, June 2nd. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$14.00.

Obsidian Energy Stock Performance

The company has a debt-to-equity ratio of 19.51, a current ratio of 0.58 and a quick ratio of 0.41. The stock has a market capitalization of C$801.99 million, a PE ratio of 1,201.00, a P/E/G ratio of 0.08 and a beta of -0.30. The firm has a fifty day moving average price of C$15.14 and a two-hundred day moving average price of C$12.53.

Obsidian Energy (TSE:OBE) last issued its earnings results on Thursday, May 7th. The company reported C($0.27) earnings per share (EPS) for the quarter. The business 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%. Research analysts expect that Obsidian Energy Ltd. will post 1.5996205 EPS for the current year.

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.