Obsidian Energy (OTCMKTS:OBELF) Trading Down 6.1% – What’s Next?

Obsidian Energy Ltd. (OTCMKTS:OBELF)’s share price fell 6.1% during mid-day trading on Thursday . The company traded as low as $8.76 and last traded at $8.89. 890,004 shares changed hands during trading, an increase of 102% from the average session volume of 441,679 shares. The stock had previously closed at $9.47.

Obsidian Energy Stock Down 6.1%

The stock has a market capitalization of $717.73 million, a P/E ratio of 2.13 and a beta of 2.47. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.55. The firm’s fifty day moving average is $8.02 and its 200-day moving average is $6.78.

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.