Obsidian Energy (TSE:OBE) Shares Cross Above 50-Day Moving Average – Should You Sell?

Shares of Obsidian Energy Ltd. (TSE:OBE) passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$15.00 and traded as high as C$16.45. Obsidian Energy shares last traded at C$16.04, with a volume of 220,200 shares trading hands.

Analysts Set New Price Targets

A number of brokerages have weighed in on OBE. BMO Capital Markets lifted their price objective on Obsidian Energy from C$10.00 to C$12.00 and gave the company an “outperform” rating in a report on Friday, February 20th. Royal Bank Of Canada raised shares of Obsidian Energy to a “hold” rating in a research note on Monday, May 11th. Finally, Raymond James Financial raised their price target on Obsidian Energy from C$14.00 to C$19.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Obsidian Energy currently has a consensus rating of “Moderate Buy” and an average target price of C$13.67.

Obsidian Energy Trading Down 4.4%

The stock has a market capitalization of C$1.02 billion, a PE ratio of 1,525.00, a P/E/G ratio of 0.08 and a beta of -0.21. The company has a quick ratio of 0.41, a current ratio of 0.58 and a debt-to-equity ratio of 19.51. The business’s fifty day moving average is C$15.09 and its 200-day moving average is C$11.33.

Obsidian Energy (TSE:OBE) last released its quarterly earnings data on Thursday, May 7th. The company reported C($0.27) EPS for the quarter. The firm had revenue of C$138.50 million during the quarter. Obsidian Energy had a return on equity of 0.08% and a net margin of 0.21%. As a group, analysts anticipate that Obsidian Energy Ltd. will post 1.5996205 EPS for the current fiscal year.

Insider Activity

In other Obsidian Energy news, insider Gareth Robin Sykes sold 7,850 shares of the business’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of C$12.04, for a total transaction of C$94,514.00. Following the transaction, the insider owned 132,244 shares in the company, valued at C$1,592,217.76. The trade was a 5.60% decrease in their ownership of the stock. Also, Director Stephen Loukas purchased 10,000 shares of Obsidian Energy stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average cost of C$17.99 per share, for a total transaction of C$179,900.00. Following the completion of the transaction, the director directly owned 1,321,146 shares in the company, valued at C$23,767,416.54. This represents a 0.76% increase in their position. Over the last three months, insiders acquired 17,600 shares of company stock worth $313,252 and sold 24,735 shares worth $353,779. 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.