Obsidian Energy (TSE:OBE) Stock Price Down 1.5%

Obsidian Energy Ltd. (TSE:OBE)’s share price was down 1.5% during trading on Wednesday . The company traded as low as C$3.37 and last traded at C$3.37. Approximately 68,962 shares changed hands 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.

A number of equities analysts have commented on OBE shares. BMO Capital Markets lifted their price objective on shares of Obsidian Energy to C$1.50 and gave the stock a “na” rating in a report on Monday, March 15th. Raymond James lifted their price objective on shares of 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 stock has a market capitalization of C$239.83 million and a P/E ratio of -269.17. The company has a current ratio of 0.66, a quick ratio of 0.54 and a debt-to-equity ratio of 130.04. The firm’s fifty day simple moving average is C$1.98.

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

In other news, Director John Brydson purchased 25,000 shares of Obsidian Energy stock in a transaction dated Monday, April 12th. The stock was bought at an average price of C$1.61 per share, with a total value of C$40,243.50. Following the completion of the acquisition, the director now owns 383,571 shares in the company, valued at approximately C$617,449.58. In the last three months, insiders have bought 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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