Obsidian Energy (TSE:OBE) Stock Price Crosses Above 50 Day Moving Average - Here's Why

Key Points

• Obsidian Energy shares crossed above their 50-day moving average, reaching C$16.82 before closing at C$16.43, compared with a 50-day average of C$16.22.
• The company reported quarterly EPS of C$0.61 on revenue of C$176.10 million, while analysts expect full-year EPS of C$1.60.
• Insider activity was mixed: a director bought 50,500 shares, while an insider sold 23,700 shares; over the past 90 days, insiders sold more shares than they purchased.

Obsidian Energy Ltd. (TSE:OBE - Get Free Report)'s share price crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of C$16.22 and traded as high as C$16.82. Obsidian Energy shares last traded at C$16.43, with a volume of 338,751 shares trading hands.

Obsidian Energy Stock Performance

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 company has a market cap of C$1.10 billion, a price-to-earnings ratio of 39.12, a P/E/G ratio of 0.08 and a beta of -0.04. The stock has a 50 day moving average price of C$16.22 and a two-hundred day moving average price of C$13.97.

Obsidian Energy (TSE:OBE - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported C$0.61 EPS for the quarter. The business had revenue of C$176.10 million during the quarter. Obsidian Energy had a return on equity of 2.00% and a net margin of 4.96%. Analysts predict that Obsidian Energy Ltd. will post 1.60 EPS for the current year.

Insider Transactions at Obsidian Energy

In other news, insider William Clifford Swadling sold 23,700 shares of the company's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of C$16.55, for a total value of C$392,235.00. Following the completion of the sale, the insider directly owned 205,277 shares of the company's stock, valued at C$3,397,334.35. This represents a 10.35% decrease in their position. Also, Director Edward Hume Kernaghan purchased 50,500 shares of the business's stock in a transaction that occurred on Wednesday, August 5th. The stock was purchased at an average price of C$12.78 per share, for a total transaction of C$645,390.00. Following the completion of the transaction, the director directly owned 4,083,414 shares in the company, valued at C$52,186,030.92. This trade represents a 1.25% increase in their ownership of the stock. In the last ninety days, insiders purchased 52,000 shares of company stock worth $667,304 and sold 86,850 shares worth $1,460,852. Corporate insiders own 1.20% of the company's stock.

Obsidian Energy Company Profile

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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