Obsidian Energy (TSE:OBE) Trading Down 1.5%

Obsidian Energy Ltd. (TSE:OBE) dropped 1.5% during trading on Wednesday . The stock traded as low as C$3.37 and last traded at C$3.37. Approximately 68,962 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 144,274 shares. The stock had previously closed at C$3.42.

OBE has been the subject of several recent research reports. BMO Capital Markets boosted their price target on Obsidian Energy to C$1.50 and gave the company a “na” rating in a research note on Monday, March 15th. Raymond James boosted their target price on Obsidian Energy from C$2.00 to C$2.25 and gave the stock a “market perform” rating in a report on Monday, May 10th.

The business has a fifty day moving average of C$1.98. The company has a quick ratio of 0.54, a current ratio of 0.66 and a debt-to-equity ratio of 130.04. The company has a market cap of C$239.83 million and a PE ratio of -269.17.

Obsidian Energy (TSE:OBE) last posted its earnings results on Monday, March 29th. The company reported C$0.02 earnings per share for the quarter. The company had revenue of C$81.70 million during the quarter. Research analysts forecast that Obsidian Energy Ltd. will post 0.3 EPS for the current year.

In related news, Director John Brydson bought 25,000 shares of Obsidian Energy stock in a transaction that occurred on Monday, April 12th. The stock was purchased at an average cost of C$1.61 per share, for a total transaction of C$40,243.50. Following the acquisition, the director now owns 383,571 shares in the company, valued at C$617,449.58. Over the last 90 days, insiders purchased 34,200 shares of company stock valued at $56,301.

About Obsidian Energy (TSE:OBE)

Obsidian Energy Ltd. primarily focuses on the exploration, production, and development of oil and natural gas properties in the Western Canada Sedimentary Basin. 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.

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