Obsidian Energy (TSE:OBE) Stock Price Up 7.9% - Here's Why

Key Points

• Obsidian Energy shares jumped 7.9% on Friday, trading as high as C$13.67 after closing at C$12.47 the prior day. Volume was slightly below average, with 326,346 shares changing hands.
• Analyst sentiment remains generally positive: Raymond James raised its price target to C$20 and kept an outperform rating, while RBC moved the stock to hold. The overall consensus rating is Moderate Buy with a C$14.00 price target.
• Recent insider activity included share purchases by directors Edward Hume Kernaghan and Stephen Loukas, and insiders bought a total of 30,600 shares over the last 90 days. The company also reported a quarterly loss of C($0.27) per share on C$138.5 million in revenue.

Obsidian Energy Ltd. (TSE:OBE - Get Free Report) shares were up 7.9% during mid-day trading on Friday . The stock traded as high as C$13.67 and last traded at C$13.46. 326,346 shares traded hands during mid-day trading, a decline of 14% from the average daily volume of 380,423 shares. The stock had previously closed at C$12.47.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on OBE shares. Raymond James Financial increased their price objective on Obsidian Energy from C$19.00 to C$20.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 2nd. Royal Bank Of Canada raised shares of Obsidian Energy to a "hold" rating in a research report on Monday, May 11th. Two investment 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, Obsidian Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of C$14.00.

Obsidian Energy Trading Up 7.8%

The company has a debt-to-equity ratio of 19.51, a current ratio of 0.58 and a quick ratio of 0.41. The firm has a market capitalization of C$897.48 million, a price-to-earnings ratio of 1,344.00, a P/E/G ratio of 0.08 and a beta of -0.30. The firm's 50-day simple moving average is C$14.56 and its 200 day simple moving average is C$12.69.

Obsidian Energy (TSE:OBE - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported C($0.27) earnings per share (EPS) for the quarter. The business had revenue of C$138.50 million during the quarter. Obsidian Energy had a net margin of 0.21% and a return on equity of 0.08%. Equities analysts expect that Obsidian Energy Ltd. will post 1.5996205 earnings per share for the current year.

Insiders Place Their Bets

In other Obsidian Energy news, Director Edward Hume Kernaghan acquired 3,000 shares of Obsidian Energy stock in a transaction that occurred on Monday, July 6th. The shares were bought at an average price of C$11.25 per share, with a total value of C$33,750.00. Following the completion of the purchase, the director directly owned 4,032,914 shares in the company, valued at C$45,370,282.50. This trade represents a 0.07% increase in their position. Also, Director Stephen Loukas acquired 10,000 shares of the stock in a transaction dated Thursday, May 14th. The shares were bought at an average price of C$17.99 per share, with a total value of C$179,900.00. Following the completion of the transaction, the director directly owned 1,321,146 shares of the company's stock, valued at C$23,767,416.54. The trade was a 0.76% increase in their ownership of the stock. Insiders bought a total of 30,600 shares of company stock valued at $461,458 in the last 90 days. Corporate 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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