Obsidian Energy (TSE:OBE) Hits New 52-Week Low - Time to Sell?

Obsidian Energy Ltd. (TSE:OBE - Get Free Report)'s stock price hit a new 52-week low on Thursday . The stock traded as low as C$5.67 and last traded at C$6.72, with a volume of 866852 shares trading hands. The stock had previously closed at C$5.87.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on OBE. BMO Capital Markets upped their target price on shares of Obsidian Energy from C$12.00 to C$14.00 in a research note on Thursday, February 20th. Raymond James downgraded Obsidian Energy from a "strong-buy" rating to a "market perform" rating and decreased their target price for the stock from C$14.00 to C$10.00 in a research report on Wednesday, April 9th. Finally, Royal Bank of Canada dropped their price target on Obsidian Energy from C$13.00 to C$12.00 in a research report on Tuesday, January 14th.

Obsidian Energy Price Performance

The business's fifty day simple moving average is C$7.56 and its 200-day simple moving average is C$7.85. The company has a current ratio of 0.45, a quick ratio of 0.41 and a debt-to-equity ratio of 20.55. The firm has a market cap of C$511.52 million, a P/E ratio of 4.38, a PEG ratio of 0.08 and a beta of 2.30.

Insiders Place Their Bets

In other Obsidian Energy news, Director Gordon Malcolm Ritchie purchased 4,229 shares of the stock in a transaction on Thursday, February 27th. The shares were purchased at an average price of C$7.94 per share, with a total value of C$33,578.26. Also, Senior Officer Mark Kristian Rodger Hawkins sold 25,000 shares of the business's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of C$7.56, for a total value of C$189,000.00. Insiders purchased a total of 5,329 shares of company stock worth $40,805 in the last quarter. 1.20% of the stock is owned by company insiders.

Remove Ads

Obsidian Energy Company Profile

Obsidian Energy Ltd, is an intermediate-sized oil and gas producer with strategic assets in Alberta. It operates in a single reporting segment that is exploration, development and holding an interest in oil and natural gas properties and related production infrastructure in the Western Canada Sedimentary Basin.