Obsidian Energy (TSE:OBE) Trading 1.2% Higher – Time to Buy?

Obsidian Energy Ltd. (TSE:OBE)’s share price was up 1.2% during mid-day trading on Friday . The company traded as high as C$8.72 and last traded at C$8.55. Approximately 199,514 shares changed hands during mid-day trading, a decline of 37% from the average daily volume of 319,000 shares. The stock had previously closed at C$8.45.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada lifted their price target on shares of Obsidian Energy from C$9.00 to C$9.50 and gave the company a “sector perform” rating in a report on Tuesday, October 7th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Obsidian Energy presently has a consensus rating of “Hold” and an average target price of C$10.83.

Obsidian Energy Stock Up 1.2%

The firm has a market cap of C$573.84 million, a price-to-earnings ratio of -2.79, a price-to-earnings-growth ratio of 0.08 and a beta of -0.07. The stock has a 50-day moving average of C$8.62 and a 200-day moving average of C$8.08. The company has a current ratio of 0.45, a quick ratio of 0.41 and a debt-to-equity ratio of 20.55.

Obsidian Energy (TSE:OBE) last issued its earnings results on Thursday, October 30th. The company reported C$0.24 earnings per share for the quarter. Obsidian Energy had a return on equity of 6.99% and a net margin of 16.27%.The firm had revenue of C$114.30 million for the quarter. As a group, sell-side analysts forecast that Obsidian Energy Ltd. will post 1.5996205 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Edward Hume Kernaghan bought 5,600 shares of Obsidian Energy stock in a transaction on Thursday, November 6th. The stock was purchased at an average cost of C$7.90 per share, with a total value of C$44,240.00. Following the purchase, the director directly owned 3,729,414 shares of the company’s stock, valued at approximately C$29,462,370.60. This trade represents a 0.15% increase in their position. In the last 90 days, insiders have bought 37,500 shares of company stock valued at $295,041. Company insiders own 1.20% of the company’s stock.

About Obsidian Energy

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.