Obsidian Energy (OTCMKTS:OBELF) Trading Down 6.1% - What's Next?

Key Points

• Shares fell 6.1% during mid-day trading, hitting as low as $8.76 and last trading at $8.89, on heavy volume of 890,004 shares (about 102% above the average).
• The company has a market cap of roughly $717.7M with a P/E of 2.13, a beta of 2.47 and moderate leverage (debt/equity 0.55) but low liquidity (current and quick ratios of 0.54).
• Obsidian is a Calgary-based independent oil and gas producer focused on light oil and natural gas in the Montney and Cardium plays of the Western Canadian Sedimentary Basin, targeting stable cash flow through low-cost operations.

Obsidian Energy Ltd. (OTCMKTS:OBELF - Get Free Report)'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.

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