Obsidian Energy (TSE:OBE) Shares Down 3% – Here’s Why

Obsidian Energy Ltd. (TSE:OBE)’s stock price traded down 3% during mid-day trading on Tuesday. The stock traded as low as C$16.14 and last traded at C$16.58. Approximately 395,975 shares changed hands during trading, an increase of 7% from the average daily volume of 368,390 shares. The stock had previously closed at C$17.10.

Obsidian Energy Price Performance

The stock has a fifty day moving average price of C$16.13 and a 200-day moving average price of C$15.20. The company has a market cap of C$1.11 billion, a PE ratio of 39.55, a price-to-earnings-growth ratio of 0.08 and a beta of -0.04. The company has a debt-to-equity ratio of 26.77, a current ratio of 0.78 and a quick ratio of 0.41.

Obsidian Energy (TSE:OBE) last issued its earnings results on Thursday, July 30th. The company reported C$0.61 EPS for the quarter. Obsidian Energy had a return on equity of 2.00% and a net margin of 4.96%. The business had revenue of C$176.10 million during the quarter. On average, equities analysts expect that Obsidian Energy Ltd. will post 1.60 earnings per share for the current year.

Insider Buying and Selling

In other Obsidian Energy news, Director Edward Hume Kernaghan acquired 50,500 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was purchased at an average cost of C$12.78 per share, for a total transaction of C$645,390.00. Following the transaction, the director owned 4,083,414 shares of the company’s stock, valued at C$52,186,030.92. The trade was a 1.25% increase in their position. Also, insider William Clifford Swadling sold 22,950 shares of the firm’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of C$16.75, for a total value of C$384,412.50. Following the sale, the insider owned 205,277 shares of the company’s stock, valued at C$3,438,389.75. The trade was a 10.06% decrease in their ownership of the stock. In the last ninety days, insiders acquired 52,000 shares of company stock valued at $667,304 and sold 86,850 shares valued at $1,460,852. Company insiders own 1.20% of the company’s stock.

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.