Obsidian Energy (TSE:OBE) Stock Price Down 0.4% – Here’s What Happened

Obsidian Energy Ltd. (TSE:OBE) traded down 0.4% on Monday . The company traded as low as C$8.36 and last traded at C$8.45. 194,705 shares were traded during mid-day trading, an increase of 3% from the average session volume of 189,679 shares. The stock had previously closed at C$8.48.

Wall Street Analyst Weigh In

Several analysts have commented on OBE shares. Royal Bank of Canada cut their target price on Obsidian Energy from C$15.00 to C$13.00 in a research note on Tuesday, September 17th. Raymond James upgraded Obsidian Energy to a “strong-buy” rating in a report on Thursday, October 17th. Finally, BMO Capital Markets lowered their target price on shares of Obsidian Energy from C$17.00 to C$12.00 in a research note on Friday, December 13th.

Obsidian Energy Stock Performance

The firm has a market capitalization of C$642.28 million, a PE ratio of 6.45, a price-to-earnings-growth ratio of 0.08 and a beta of 2.30. The company has a current ratio of 0.49, a quick ratio of 0.41 and a debt-to-equity ratio of 22.94. The business’s 50 day simple moving average is C$7.90 and its two-hundred day simple moving average is C$8.67.

Insider Activity at Obsidian Energy

In related news, Senior Officer Mark Kristian Rodger Hawkins sold 25,075 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of C$8.55, for a total transaction of C$214,391.25. 1.20% of the stock is owned by company insiders.

About Obsidian Energy

Obsidian Energy Ltd. engages in the exploration, production, and development of oil and natural gas properties in the Western Canada. 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.