Obsidian Energy (TSE:OBE) Sets New 52-Week High - What's Next?

Key Points

• Obsidian Energy hit a new 52‑week high, trading as high as C$13.64 and last at C$13.77 on volume of 292,542 shares, and was trading up about 4% on the move.
• Analysts have raised ratings and targets recently — Raymond James upgraded to a Moderate Buy with a C$15 target, BMO moved to Outperform (C$12 target) and RBC lifted its target to C$10, leaving a consensus Moderate Buy and an average price target of C$12.33.
• Fundamentals show a quarterly EPS of C($0.18) and revenue of C$114.8M, with a market cap of roughly C$919M and a P/E of 27.8; insiders sold 14,735 shares last quarter and now own about 1.2% of the company.

Obsidian Energy Ltd. (TSE:OBE - Get Free Report) hit a new 52-week high on Thursday . The stock traded as high as C$13.64 and last traded at C$13.77, with a volume of 292542 shares traded. The stock had previously closed at C$13.08.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Raymond James Financial upgraded Obsidian Energy from a "hold" rating to a "moderate buy" rating and raised their target price for the company from C$10.00 to C$15.00 in a report on Monday, March 30th. BMO Capital Markets boosted their price target on Obsidian Energy from C$10.00 to C$12.00 and gave the stock an "outperform" rating in a research note on Friday, February 20th. Finally, Royal Bank Of Canada raised their price objective on Obsidian Energy from C$9.00 to C$10.00 and gave the company a "hold" rating in a research note on Friday, February 20th. Two equities 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 stock currently has an average rating of "Moderate Buy" and an average price target of C$12.33.

Obsidian Energy Trading Up 4.0%

The company has a debt-to-equity ratio of 15.52, a quick ratio of 0.41 and a current ratio of 0.54. The business's 50 day moving average price is C$11.64 and its 200-day moving average price is C$9.68. The firm has a market cap of C$918.98 million, a price-to-earnings ratio of 27.76, a price-to-earnings-growth ratio of 0.08 and a beta of -0.34.

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

Insider Transactions at Obsidian Energy

In other news, insider Gareth Robin Sykes sold 7,850 shares of the company's stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of C$12.04, for a total transaction of C$94,514.00. Following the completion of the transaction, the insider directly owned 132,244 shares of the company's stock, valued at approximately C$1,592,217.76. This represents a 5.60% decrease in their ownership of the stock. Insiders have sold a total of 14,735 shares of company stock valued at $178,579 over the last quarter. Company insiders own 1.20% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.