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

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

Wall Street Analyst Weigh In

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

Obsidian Energy Trading Up 2.7 %

The firm has a market cap of C$601.24 million, a PE ratio of 6.04, a P/E/G 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 has a fifty day moving average price of C$8.04 and a 200 day moving average price of C$9.34.

Insider Activity

In related news, Director Gordon Malcolm Ritchie acquired 11,000 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was bought at an average cost of C$7.99 per share, with a total value of C$87,890.00. Also, Senior Officer Mark Kristian Rodger Hawkins sold 25,075 shares of the firm’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 value of C$214,391.25. Company insiders own 1.20% of the company’s stock.

Obsidian Energy Company Profile

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.