Obsidian Energy (TSE:OBE) Director Purchases 50,500 Shares of Stock

Key Points

• Insider buying: Obsidian Energy Director Edward Hume Kernaghan purchased 50,500 shares at an average C$12.78, investing C$645,390 and increasing his holdings by 1.25% to 4.08 million shares.
• Recent performance: The stock traded at C$14.01, with a market capitalization of approximately C$935.6 million, after reporting quarterly earnings of C$0.61 per share and revenue of C$181.3 million.
• Analyst outlook: Analysts maintain a “Moderate Buy” consensus, with two Buy ratings, one Hold rating and an average price target of C$14.00; Raymond James recently raised its target to C$20.00 and assigned an “outperform” rating.

Obsidian Energy Ltd. (TSE:OBE - Get Free Report) Director Edward Hume Kernaghan purchased 50,500 shares of the company's stock in a transaction that occurred on Wednesday, August 5th. The shares were acquired at an average price of C$12.78 per share, for a total transaction of C$645,390.00. Following the completion of the acquisition, the director directly owned 4,083,414 shares of the company's stock, valued at C$52,186,030.92. This trade represents a 1.25% increase in their position.

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

• On Monday, July 6th, Edward Hume Kernaghan bought 1,600 shares of Obsidian Energy stock. The shares were acquired at an average price of C$11.30 per share, for a total transaction of C$18,080.00.
• On Monday, July 6th, Edward Hume Kernaghan acquired 1,400 shares of Obsidian Energy stock. The shares were bought at an average price of C$11.29 per share, with a total value of C$15,806.00.
• On Monday, July 6th, Edward Hume Kernaghan acquired 1,000 shares of Obsidian Energy stock. The shares were purchased at an average cost of C$11.28 per share, with a total value of C$11,280.00.
• On Monday, July 6th, Edward Hume Kernaghan purchased 3,000 shares of Obsidian Energy stock. The stock was acquired at an average cost of C$11.25 per share, for a total transaction of C$33,750.00.

Obsidian Energy Price Performance

OBE traded up C$0.54 during trading on Friday, reaching C$14.01. 214,177 shares of the company were exchanged, compared to its average volume of 386,951. The company has a quick ratio of 0.41, a current ratio of 0.78 and a debt-to-equity ratio of 26.77. The company has a market cap of C$935.55 million, a price-to-earnings ratio of 33.36, a P/E/G ratio of 0.08 and a beta of -0.32. Obsidian Energy Ltd. has a 12-month low of C$7.62 and a 12-month high of C$19.83. The company's 50-day moving average is C$13.63 and its two-hundred day moving average is C$13.26.

Obsidian Energy (TSE:OBE - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported C$0.61 earnings per share for the quarter. The firm had revenue of C$181.30 million for the quarter. Obsidian Energy had a net margin of 4.96% and a return on equity of 2.00%. Research analysts forecast that Obsidian Energy Ltd. will post 1.5996205 earnings per share for the current fiscal year.

Analyst Ratings Changes

OBE has been the subject of several analyst reports. Raymond James Financial increased their target price on Obsidian Energy from C$19.00 to C$20.00 and gave the company an "outperform" rating in a report on Tuesday, June 2nd. Royal Bank Of Canada upgraded shares of Obsidian Energy to a "hold" rating in a report on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of C$14.00.

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.

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