Obsidian Energy (TSE:OBE) Stock Price Down 8.1% - What's Next?

Key Points

• Shares fell 8.1% to C$16.17 on Thursday, trading as low as C$15.99 on volume of 164,115 shares — about 60% below the average session volume.
• Analysts have raised price targets and issued mostly positive ratings (two Buys, one Hold), but the consensus average price target is C$13.67 and MarketBeat lists the stock as a "Moderate Buy."
• The company reported a quarterly loss of C($0.27) per share

Obsidian Energy Ltd. (TSE:OBE - Get Free Report)'s share price fell 8.1% during trading on Thursday . The stock traded as low as C$15.99 and last traded at C$16.17. 164,115 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 407,068 shares. The stock had previously closed at C$17.60.

Wall Street Analysts Forecast Growth

Several brokerages have commented on OBE. BMO Capital Markets increased their price target on shares of Obsidian Energy from C$10.00 to C$12.00 and gave the company an "outperform" rating in a research note on Friday, February 20th. Raymond James Financial lifted their price objective on shares of Obsidian Energy from C$14.00 to C$19.00 and gave the company an "outperform" rating in a research report on Friday, April 24th. Finally, Royal Bank Of Canada lifted their price objective on shares of Obsidian Energy from C$9.00 to C$10.00 and gave the company a "hold" rating in a research report on Friday, February 20th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Obsidian Energy currently has an average rating of "Moderate Buy" and an average price target of C$13.67.

Obsidian Energy Trading Down 1.1%

The business's 50-day moving average is C$13.36 and its two-hundred day moving average is C$10.42. 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 stock has a market capitalization of C$1.18 billion, a PE ratio of 35.51, a price-to-earnings-growth ratio of 0.08 and a beta of -0.21.

Obsidian Energy (TSE:OBE - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported C($0.27) 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$138.50 million during the quarter. As a group, equities research analysts anticipate that Obsidian Energy Ltd. will post 1.5996205 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Gareth Robin Sykes sold 7,850 shares of Obsidian Energy stock in a transaction on Thursday, March 19th. The shares were sold at an average price of C$12.04, for a total value of C$94,514.00. Following the transaction, the insider directly owned 132,244 shares in the company, valued at C$1,592,217.76. This trade represents a 5.60% decrease in their position. In the last 90 days, insiders have sold 14,735 shares of company stock valued at $178,579. Company 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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