Obsidian Energy (TSE:OBE) Trading Down 1.8% - Should You Sell?

Key Points

• Obsidian Energy's share price fell 1.8% to C$7.72, with trading volume decreasing 41% from the average daily volume.
• Analyst ratings show a consensus “Hold” with a revised price target of C$9.00, down from C$10.00.
• Insiders of the company sold 45,380 shares valued at C$364,876 over the last ninety days, indicating a possible lack of confidence in future stock performance.

Obsidian Energy Ltd. (TSE:OBE - Get Free Report) shares fell 1.8% on Tuesday . The stock traded as low as C$7.70 and last traded at C$7.72. 209,847 shares changed hands during trading, a decline of 41% from the average session volume of 354,480 shares. The stock had previously closed at C$7.86.

Wall Street Analyst Weigh In

Several research firms recently weighed in on OBE. Raymond James Financial dropped their price objective on shares of Obsidian Energy from C$10.00 to C$9.00 and set a "market perform" rating on the stock in a research note on Thursday, May 8th. Royal Bank Of Canada dropped their price objective on shares of Obsidian Energy from C$10.00 to C$9.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 8th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of C$10.67.

Obsidian Energy Stock Up 4.0%

The firm's 50 day simple moving average is C$7.89 and its 200 day simple moving average is C$7.39. The company has a market cap of C$636.17 million, a price-to-earnings ratio of 5.45, a price-to-earnings-growth ratio of 0.08 and a beta of 2.30. The company has a quick ratio of 0.41, a current ratio of 0.45 and a debt-to-equity ratio of 20.55.

Insider Buying and Selling at Obsidian Energy

In other news, Senior Officer Gareth Robin Sykes sold 5,150 shares of the stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of C$8.18, for a total value of C$42,127.00. Also, Senior Officer William Clifford Swadling sold 28,572 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of C$7.97, for a total transaction of C$227,718.84. Over the last 90 days, insiders have sold 45,380 shares of company stock worth $364,876. 1.20% of the stock is owned by company insiders.

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.