Obsidian Energy (TSE:OBE) Hits New 1-Year High - What's Next?

Key Points

• Obsidian Energy hit a new 52-week high of C$19.80 (last C$19.60) on Monday, trading about 155,738 shares and rising roughly 2% intraday.
• Several analysts raised ratings and targets—Raymond James to C$19 ("outperform"), BMO to C$12 ("outperform") and RBC to C$10 ("hold")—leaving a consensus Moderate Buy with a C$13.67 price target.
• Fundamentals show a C($0.18) EPS loss last quarter on C$114.8M revenue, a market cap of C$1.33B and a P/E of 40.1, while analysts forecast about C$1.60 EPS for the current year.

Obsidian Energy Ltd. (TSE:OBE - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$19.80 and last traded at C$19.60, with a volume of 155738 shares traded. The stock had previously closed at C$19.26.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. BMO Capital Markets lifted their price target on Obsidian Energy from C$10.00 to C$12.00 and gave the company an "outperform" rating in a research report on Friday, February 20th. Raymond James Financial increased their price objective 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. Finally, Royal Bank Of Canada boosted their target price on shares of Obsidian Energy from C$9.00 to C$10.00 and gave the company a "hold" rating in a report on Friday, February 20th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$13.67.

Obsidian Energy Stock Up 2.0%

The stock's 50 day simple moving average is C$13.06 and its two-hundred day simple moving average is C$10.28. The firm has a market cap of C$1.33 billion, a P/E ratio of 40.10, a P/E/G ratio of 0.08 and a beta of -0.34. The company has a debt-to-equity ratio of 15.52, a current ratio of 0.54 and a quick ratio of 0.41.

Obsidian Energy (TSE:OBE - Get Free Report) last issued its quarterly earnings results on Thursday, February 19th. The company reported C($0.18) EPS for the quarter. Obsidian Energy had a return on equity of 2.51% and a net margin of 5.85%.The company had revenue of C$114.80 million during the quarter. As a group, research analysts forecast that Obsidian Energy Ltd. will post 1.5996205 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Gareth Robin Sykes sold 5,000 shares of the stock in a transaction 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 sale, the insider directly owned 132,244 shares of the company's stock, valued at approximately C$1,618,666.56. This represents a 3.64% decrease in their ownership of the stock. Insiders sold 14,735 shares of company stock valued at $178,579 over the last 90 days. 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.

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