Insider Buying: Obsidian Energy (TSE:OBE) Director Acquires 5,000 Shares of Stock

Obsidian Energy Ltd. (TSE:OBE) Director Stephen Loukas acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were bought at an average price of C$17.26 per share, for a total transaction of C$86,300.00. Following the completion of the purchase, the director owned 1,309,546 shares of the company’s stock, valued at approximately C$22,602,763.96. This represents a 0.38% increase in their ownership of the stock.

Obsidian Energy Price Performance

OBE traded up C$0.40 on Monday, reaching C$17.39. The company had a trading volume of 245,755 shares, compared to its average volume of 412,394. The company has a fifty day moving average of C$13.50 and a 200-day moving average of C$10.49. The company has a market capitalization of C$1.18 billion, a P/E ratio of 35.49, a PEG ratio of 0.08 and a beta of -0.21. The company has a current ratio of 0.58, a quick ratio of 0.41 and a debt-to-equity ratio of 19.51. Obsidian Energy Ltd. has a one year low of C$6.42 and a one year high of C$19.83.

Obsidian Energy (TSE:OBE) last released its quarterly earnings results on Thursday, May 7th. The company reported C($0.27) EPS for the quarter. The company 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%. As a group, equities research analysts anticipate that Obsidian Energy Ltd. will post 1.5996205 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.