Obsidian Energy (TSE:OBE) Hits New 52-Week Low – Time to Sell?

Obsidian Energy Ltd. (TSE:OBE)’s stock price hit a new 52-week low during trading on Monday . The company traded as low as C$0.00 and last traded at C$7.35, with a volume of 381933 shares traded. The stock had previously closed at C$7.91.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on OBE. Royal Bank of Canada lowered their price target on Obsidian Energy from C$13.00 to C$12.00 in a report on Tuesday, January 14th. BMO Capital Markets boosted their price target on shares of Obsidian Energy from C$12.00 to C$14.00 in a report on Thursday, February 20th.

Obsidian Energy Stock Down 8.2 %

The company has a debt-to-equity ratio of 20.55, a quick ratio of 0.41 and a current ratio of 0.45. The company has a market capitalization of C$551.80 million, a price-to-earnings ratio of 4.73, a PEG ratio of 0.08 and a beta of 2.30. The business’s 50 day moving average is C$7.96 and its 200 day moving average is C$8.11.

Insider Activity

In other news, Director Gordon Malcolm Ritchie bought 4,229 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average price of C$7.94 per share, with a total value of C$33,578.26. Corporate insiders own 1.20% of the company’s stock.

Obsidian Energy Company Profile

Obsidian Energy Ltd. engages in the exploration, production, and development of oil and natural gas properties in the Western Canada. The company was formerly known as Penn West Petroleum Ltd. and changed its name to Obsidian Energy Ltd. in June 2017. Obsidian Energy Ltd. is headquartered in Calgary, Canada.