Insider Buying: Obsidian Energy (TSE:OBE) Director Buys 3,000 Shares of Stock

Key Points

• Insider buying: Director Edward Hume Kernaghan bought 3,000 Obsidian Energy shares on July 6 at about C$11.25 each, totaling C$33,750. He now holds more than 4.03 million shares.
• Additional purchases: Kernaghan also made three other same-day buys of 1,600, 1,400, and 1,000 shares, reinforcing the insider accumulation signal.
• Stock and analyst backdrop: OBE shares slipped 0.4% to C$12.02, while analysts currently rate the stock a Moderate Buy with an average price target of C$14.00.

Obsidian Energy Ltd. (TSE:OBE - Get Free Report) Director Edward Hume Kernaghan bought 3,000 shares of the stock in a transaction on Monday, July 6th. The shares were acquired at an average cost of C$11.25 per share, with a total value of C$33,750.00. Following the purchase, the director owned 4,032,914 shares of the company's stock, valued at approximately C$45,370,282.50. This represents a 0.07% increase in their position.

Edward Hume Kernaghan also recently made the following trade(s):

• On Monday, July 6th, Edward Hume Kernaghan purchased 1,600 shares of Obsidian Energy stock. The stock was purchased at an average price of C$11.30 per share, with a total value of C$18,080.00.
• On Monday, July 6th, Edward Hume Kernaghan purchased 1,400 shares of Obsidian Energy stock. The shares were purchased at an average cost of C$11.29 per share, for a total transaction of C$15,806.00.
• On Monday, July 6th, Edward Hume Kernaghan acquired 1,000 shares of Obsidian Energy stock. The stock was acquired at an average price of C$11.28 per share, with a total value of C$11,280.00.

Obsidian Energy Trading Down 0.4%

Shares of OBE stock traded down C$0.05 during trading hours on Friday, hitting C$12.02. 174,094 shares of the company's stock traded hands, compared to its average volume of 381,975. The stock has a market cap of C$802.66 million, a PE ratio of 1,202.00, a price-to-earnings-growth ratio of 0.08 and a beta of -0.30. The stock's 50 day simple moving average is C$15.00 and its 200 day simple moving average is C$12.52. The company has a quick ratio of 0.41, a current ratio of 0.58 and a debt-to-equity ratio of 19.51. Obsidian Energy Ltd. has a 12 month low of C$7.24 and a 12 month high of C$19.83.

Obsidian Energy (TSE:OBE - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported C($0.27) EPS for the quarter. The company had revenue of C$138.50 million during the quarter. Obsidian Energy had a return on equity of 0.08% and a net margin of 0.21%. On average, sell-side analysts anticipate that Obsidian Energy Ltd. will post 1.5996205 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Royal Bank Of Canada raised shares of Obsidian Energy to a "hold" rating in a research report on Monday, May 11th. Raymond James Financial raised their price objective on shares of Obsidian Energy from C$19.00 to C$20.00 and gave the company an "outperform" rating in a research note on Tuesday, June 2nd. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of C$14.00.

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.

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