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)'s share price dropped 1.8% during trading on Tuesday . The stock traded as low as C$7.70 and last traded at C$7.72. Approximately 209,847 shares were traded during mid-day trading, a decline of 41% from the average daily volume of 354,480 shares. The stock had previously closed at C$7.86.

Analyst Ratings Changes

OBE has been the subject of several analyst reports. Raymond James Financial lowered their price objective on Obsidian Energy from C$10.00 to C$9.00 and set a "market perform" rating for the company in a research note on Thursday, May 8th. Royal Bank Of Canada lowered their price objective on Obsidian Energy from C$10.00 to C$9.00 and set a "sector perform" rating for the company in a research note on Thursday, May 8th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of C$10.67.

Obsidian Energy Stock Down 1.8%

The company has a quick ratio of 0.41, a current ratio of 0.45 and a debt-to-equity ratio of 20.55. The company has a market capitalization of C$586.76 million, a PE ratio of 5.03, a P/E/G ratio of 0.08 and a beta of 2.30. The stock has a 50-day moving average of C$7.88 and a 200 day moving average of C$7.38.

Insiders Place Their Bets

In other Obsidian Energy news, Director Michael Faust sold 11,658 shares of the firm's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of C$8.15, for a total value of C$95,030.19. Also, Senior Officer William Clifford Swadling sold 28,572 shares of the firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of C$7.97, for a total value of C$227,718.84. Insiders sold 45,380 shares of company stock valued at $364,876 over the last ninety days. 1.20% of the stock is currently owned by insiders.

About Obsidian Energy

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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