Obsidian Energy (TSE:OBE) Shares Down 8.1% – Here’s What Happened

Obsidian Energy Ltd. (TSE:OBE) shares traded down 8.1% during mid-day trading on Thursday . The company traded as low as C$15.99 and last traded at C$16.17. 164,115 shares changed hands during trading, a decline of 60% from the average session volume of 407,068 shares. The stock had previously closed at C$17.60.

Wall Street Analysts Forecast Growth

OBE has been the subject of a number of research analyst reports. Raymond James Financial lifted their target price on Obsidian Energy from C$14.00 to C$19.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. BMO Capital Markets lifted their target price on Obsidian Energy from C$10.00 to C$12.00 and gave the stock an “outperform” rating in a report on Friday, February 20th. Finally, Royal Bank Of Canada lifted their target price on Obsidian Energy from C$9.00 to C$10.00 and gave the stock a “hold” rating in a report on Friday, February 20th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$13.67.

Obsidian Energy Stock Down 2.4%

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 stock has a 50 day simple moving average of C$13.50 and a 200 day simple moving average of C$10.49. The stock has a market cap of C$1.15 billion, a price-to-earnings ratio of 34.67, a PEG ratio of 0.08 and a beta of -0.21.

Obsidian Energy (TSE:OBE) last announced its quarterly earnings data on Thursday, May 7th. The company reported C($0.27) EPS for the quarter. Obsidian Energy had a net margin of 5.85% and a return on equity of 2.51%. The firm had revenue of C$138.50 million during the quarter. As a group, analysts expect that Obsidian Energy Ltd. will post 1.5996205 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Obsidian Energy news, insider Gareth Robin Sykes sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of C$12.24, for a total value 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. This trade represents a 3.64% decrease in their ownership of the stock. Insiders sold a total of 14,735 shares of company stock valued at $178,579 over the last ninety days. Company insiders own 1.20% of the company’s stock.

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.