Obsidian Energy (TSE:OBE) Shares Down 3.9% - Here's What Happened

Key Points

• Obsidian Energy shares fell 3.9% to C$14.52 in Tuesday trading, with volume slightly below the stock’s average.
• Raymond James raised its price target from C$19.00 to C$20.00 and maintained an “outperform” rating. Overall, analysts assign the stock a “Moderate Buy” consensus rating, with a C$14.00 average target.
• Recent insider activity was mixed: insiders bought 63,400 shares worth about C$793,000 over 90 days but sold 86,850 shares valued at roughly C$1.46 million.

Obsidian Energy Ltd. (TSE:OBE - Get Free Report) fell 3.9% on Tuesday. The stock traded as low as C$14.42 and last traded at C$14.52. Approximately 338,862 shares were traded during mid-day trading, a decline of 10% from the average session volume of 374,984 shares. The stock had previously closed at C$15.11.

Analyst Upgrades and Downgrades

Separately, Raymond James Financial lifted 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. 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 has an average rating of "Moderate Buy" and a consensus target price of C$14.00.

Obsidian Energy Stock Down 3.9%

The company has a current ratio of 0.78, a quick ratio of 0.41 and a debt-to-equity ratio of 26.77. The firm has a market capitalization of C$968.86 million, a P/E ratio of 34.57, a price-to-earnings-growth ratio of 0.08 and a beta of -0.38. The company's fifty day simple moving average is C$15.59 and its 200 day simple moving average is C$14.79.

Obsidian Energy (TSE:OBE - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported C$0.61 earnings per share for the quarter. Obsidian Energy had a net margin of 4.96% and a return on equity of 2.00%. The firm had revenue of C$176.10 million for the quarter. Research analysts expect that Obsidian Energy Ltd. will post 1.5996205 EPS for the current year.

Insider Activity at Obsidian Energy

In other news, Director Stephen Loukas acquired 5,000 shares of the business's stock in a transaction on Tuesday, July 7th. The shares were acquired at an average cost of C$11.17 per share, with a total value of C$55,850.00. Following the transaction, the director owned 1,663,711 shares in the company, valued at C$18,583,651.87. The trade was a 0.30% increase in their position. Also, insider William Clifford Swadling sold 22,950 shares of Obsidian Energy stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of C$16.75, for a total value of C$384,412.50. Following the sale, the insider directly owned 205,277 shares in the company, valued at approximately C$3,438,389.75. The trade was a 10.06% decrease in their ownership of the stock. Over the last ninety days, insiders have acquired 63,400 shares of company stock valued at $793,016 and have sold 86,850 shares valued at $1,460,852. 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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