Obsidian Energy (TSE:OBE) Reaches New 1-Year Low – Here’s What Happened

Obsidian Energy Ltd. (TSE:OBE) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as C$5.67 and last traded at C$6.72, with a volume of 866852 shares. The stock had previously closed at C$5.87.

Analysts Set New Price Targets

OBE has been the subject of a number of research analyst reports. Raymond James lowered Obsidian Energy from a “strong-buy” rating to a “market perform” rating and reduced their target price for the stock from C$14.00 to C$10.00 in a research note on Wednesday. Royal Bank of Canada lowered their price target on shares of Obsidian Energy from C$13.00 to C$12.00 in a report on Tuesday, January 14th. Finally, BMO Capital Markets raised their price objective on Obsidian Energy from C$12.00 to C$14.00 in a report on Thursday, February 20th.

Obsidian Energy Price Performance

The stock has a 50 day moving average price of C$7.59 and a 200-day moving average price of C$7.85. The company has a debt-to-equity ratio of 20.55, a current ratio of 0.45 and a quick ratio of 0.41. The stock has a market capitalization of C$484.15 million, a price-to-earnings ratio of 4.15, a price-to-earnings-growth ratio of 0.08 and a beta of 2.30.

Insiders Place Their Bets

In other news, Senior Officer Mark Kristian Rodger Hawkins sold 25,000 shares of Obsidian Energy stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of C$7.56, for a total transaction of C$189,000.00. Also, Director Gordon Malcolm Ritchie purchased 4,229 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was acquired at an average cost of C$7.94 per share, for a total transaction of C$33,578.26. Insiders have acquired a total of 5,329 shares of company stock valued at $40,805 in the last 90 days. 1.20% of the stock is owned by insiders.

Obsidian Energy Company Profile

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.