Obsidian Energy (TSE:OBE) Trading Up 6.6% After Insider Buying Activity

Obsidian Energy Ltd. (TSE:OBE) rose 6.6% during trading on Wednesday following insider buying activity. The stock traded as high as C$12.35 and last traded at C$12.32. 313,534 shares changed hands during mid-day trading, a decline of 17% from the average daily volume of 379,022 shares. The stock had previously closed at C$11.56.

Specifically, Director Stephen Loukas purchased 5,000 shares of Obsidian Energy stock in a transaction dated Tuesday, July 7th. The stock was bought at an average price of C$11.17 per share, with a total value of C$55,850.00. Following the completion of the acquisition, the director owned 1,663,711 shares in the company, valued at C$18,583,651.87. The trade was a 0.30% increase in their position.

Wall Street Analysts Forecast Growth

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

Obsidian Energy Trading Down 0.5%

The firm has a market capitalization of C$801.99 million, a P/E ratio of 1,201.00, a PEG ratio of 0.08 and a beta of -0.30. The business’s 50 day moving average is C$15.14 and its two-hundred day moving average is C$12.53. The company has a quick ratio of 0.41, a current ratio of 0.58 and a debt-to-equity ratio of 19.51.

Obsidian Energy (TSE:OBE) last announced its earnings results on Thursday, May 7th. The company reported C($0.27) earnings per share (EPS) for the quarter. Obsidian Energy had a net margin of 0.21% and a return on equity of 0.08%. The company had revenue of C$138.50 million during the quarter. Analysts expect that Obsidian Energy Ltd. will post 1.5996205 EPS for the current year.

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.