Obsidian Energy (TSE:OBE) Stock Price Passes Below 50 Day Moving Average – What’s Next?

Obsidian Energy Ltd. (TSE:OBE)’s stock price passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$13.83 and traded as low as C$13.68. Obsidian Energy shares last traded at C$14.25, with a volume of 320,764 shares.

Wall Street Analyst Weigh In

OBE has been the topic of several research reports. Royal Bank Of Canada upgraded shares of Obsidian Energy to a “hold” rating in a research report on Monday, May 11th. Raymond James Financial increased their target price on Obsidian Energy from C$19.00 to C$20.00 and gave the company an “outperform” rating in a research note on Tuesday, June 2nd. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Obsidian Energy presently has a consensus rating of “Moderate Buy” and an average price target of C$14.00.

Obsidian Energy Price Performance

The company has a market capitalization of C$1.00 billion, a PE ratio of 1,505.00, a PEG ratio of 0.08 and a beta of -0.30. The firm has a fifty day moving average of C$13.79 and a two-hundred day moving average of C$13.10. The company has a current ratio of 0.78, a quick ratio of 0.41 and a debt-to-equity ratio of 26.77.

Obsidian Energy (TSE:OBE) last announced its quarterly earnings results on Thursday, July 30th. The company reported C$0.61 EPS for the quarter. Obsidian Energy had a return on equity of 2.00% and a net margin of 4.96%.The business had revenue of C$181.30 million for the quarter. Research analysts anticipate that Obsidian Energy Ltd. will post 1.5996205 EPS for the current fiscal year.

Insider Transactions at Obsidian Energy

In related news, insider Gareth Robin Sykes sold 5,000 shares of Obsidian Energy stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of C$17.74, for a total value of C$88,700.00. Following the transaction, the insider directly owned 147,977 shares of the company’s stock, valued at C$2,625,111.98. The trade was a 3.27% decrease in their ownership of the stock. Also, Director Stephen Loukas purchased 10,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were purchased at an average price of C$17.99 per share, with a total value of C$179,900.00. Following the completion of the acquisition, the director directly owned 1,321,146 shares in the company, valued at C$23,767,416.54. The trade was a 0.76% increase in their ownership of the stock. Over the last 90 days, insiders have bought 30,600 shares of company stock worth $461,458. 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.