Insider Selling: Obsidian Energy (TSE:OBE) Insider Sells 7,850 Shares of Stock

Obsidian Energy Ltd. (TSE:OBE) insider Gareth Robin Sykes sold 7,850 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of C$12.04, for a total value of C$94,514.00. Following the completion of the transaction, the insider directly owned 132,244 shares of the company’s stock, valued at C$1,592,217.76. The trade was a 5.60% decrease in their ownership of the stock.

Gareth Robin Sykes also recently made the following trade(s):

• On Thursday, March 19th, Gareth Robin Sykes sold 5,000 shares of Obsidian Energy stock. The stock was sold at an average price of C$12.24, for a total value of C$61,200.00.
• On Thursday, March 19th, Gareth Robin Sykes sold 1,885 shares of Obsidian Energy stock. The stock was sold at an average price of C$12.13, for a total value of C$22,865.05.

Obsidian Energy Price Performance

Obsidian Energy stock remained flat at C$12.78 during trading hours on Friday. The company’s stock had a trading volume of 364,481 shares, compared to its average volume of 357,251. The company has a quick ratio of 0.41, a current ratio of 0.54 and a debt-to-equity ratio of 15.52. The company has a market cap of C$860.18 million, a PE ratio of 26.08, a price-to-earnings-growth ratio of 0.08 and a beta of 0.19. Obsidian Energy Ltd. has a 12 month low of C$5.35 and a 12 month high of C$13.67. The firm has a fifty day simple moving average of C$11.14 and a two-hundred day simple moving average of C$9.45.

Obsidian Energy (TSE:OBE) last released its quarterly earnings results on Thursday, February 19th. The company reported C($0.18) earnings per share (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, sell-side analysts anticipate that Obsidian Energy Ltd. will post 1.5996205 EPS for the current year.

Wall Street Analysts Forecast Growth

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

About Obsidian Energy

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.