Obsidian Energy (TSE:OBE) Reaches New 12-Month Low – Here’s Why

Obsidian Energy Ltd. (TSE:OBE)’s stock price hit a new 52-week low during trading on Wednesday . The company traded as low as C$7.32 and last traded at C$7.42, with a volume of 101059 shares changing hands. The stock had previously closed at C$7.55.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on OBE shares. Royal Bank of Canada lowered their price objective on Obsidian Energy from C$15.00 to C$13.00 in a research report on Tuesday, September 17th. Raymond James upgraded Obsidian Energy to a “strong-buy” rating in a research note on Thursday, October 17th.

Obsidian Energy Stock Performance

The company has a quick ratio of 0.41, a current ratio of 0.49 and a debt-to-equity ratio of 22.94. The company has a 50 day moving average of C$8.04 and a 200 day moving average of C$9.34. The firm has a market cap of C$601.24 million, a price-to-earnings ratio of 6.04, a PEG ratio of 0.08 and a beta of 2.30.

Insider Buying and Selling

In other Obsidian Energy news, Senior Officer Mark Kristian Rodger Hawkins sold 25,075 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of C$8.55, for a total transaction of C$214,391.25. Also, Director Gordon Malcolm Ritchie acquired 11,000 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were purchased at an average price of C$7.99 per share, for a total transaction of C$87,890.00. Insiders own 1.20% of the company’s stock.

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.