Obsidian Energy (TSE:OBE) Stock Price Down 2.5% - Here's Why

Key Points

• Obsidian Energy's share price fell 2.5% to C$8.42 on Tuesday, with trading volume down 2% from the average.
• Royal Bank Of Canada upgraded Obsidian Energy's price target from C$9.00 to C$9.50, maintaining a "sector perform" rating.
• The company has a market cap of C$564.04 million and reported a PE ratio of -2.92, indicating ongoing financial challenges.

Obsidian Energy Ltd. (TSE:OBE - Get Free Report)'s share price fell 2.5% on Tuesday . The company traded as low as C$8.37 and last traded at C$8.42. 322,151 shares changed hands during trading, a decline of 2% from the average session volume of 327,463 shares. The stock had previously closed at C$8.64.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada raised their price objective on Obsidian Energy from C$9.00 to C$9.50 and gave the company a "sector perform" rating in a research report on Tuesday, October 7th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of C$10.83.

Obsidian Energy Trading Down 2.5%

The company has a market cap of C$564.04 million, a PE ratio of -2.92, a price-to-earnings-growth ratio of 0.08 and a beta of 0.13. The company has a debt-to-equity ratio of 20.55, a current ratio of 0.45 and a quick ratio of 0.41. The company has a 50-day moving average of C$8.54 and a 200 day moving average of C$7.64.

Insider Buying and Selling

In related news, Director Edward Hume Kernaghan sold 10,214 shares of Obsidian Energy stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of C$8.24, for a total value of C$84,163.36. Corporate insiders own 1.20% of the company's stock.

Obsidian Energy Company Profile

Obsidian Energy Ltd, is an intermediate-sized oil and gas producer with strategic assets in Alberta. It operates in a single reporting segment that is exploration, development and holding an interest in oil and natural gas properties and related production infrastructure in the Western Canada Sedimentary Basin.

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