Obsidian Energy (TSE:OBE) Stock Price Crosses Above Fifty Day Moving Average – Should You Sell?

Obsidian Energy Ltd. (TSE:OBE)’s stock price passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$15.00 and traded as high as C$16.45. Obsidian Energy shares last traded at C$16.04, with a volume of 220,200 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. BMO Capital Markets raised their price target on shares of Obsidian Energy from C$10.00 to C$12.00 and gave the company an “outperform” rating in a research note on Friday, February 20th. Raymond James Financial raised their price target on shares of Obsidian Energy from C$14.00 to C$19.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Finally, Royal Bank Of Canada upgraded shares of Obsidian Energy to a “hold” rating in a research note on Monday, May 11th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Obsidian Energy presently has an average rating of “Moderate Buy” and an average price target of C$13.67.

Obsidian Energy Stock Down 4.2%

The firm’s 50 day simple moving average is C$15.00 and its 200 day simple moving average is C$11.28. The company has a market cap of C$1.07 billion, a price-to-earnings ratio of 1,604.00, a price-to-earnings-growth ratio of 0.08 and a beta of -0.21. The company has a quick ratio of 0.41, a current ratio of 0.58 and a debt-to-equity ratio of 19.51.

Obsidian Energy (TSE:OBE) last announced its quarterly earnings results on Thursday, May 7th. The company reported C($0.27) EPS for the quarter. Obsidian Energy had a net margin of 0.21% and a return on equity of 0.08%. The firm had revenue of C$138.50 million during the quarter. Sell-side analysts anticipate that Obsidian Energy Ltd. will post 1.5996205 EPS for the current fiscal year.

Insider Activity at Obsidian Energy

In related news, Director Stephen Loukas acquired 10,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were acquired at an average price of C$17.99 per share, for a total transaction of C$179,900.00. Following the completion of the purchase, the director directly owned 1,321,146 shares of the company’s stock, valued at C$23,767,416.54. The trade was a 0.76% increase in their ownership of the stock. Also, insider Gareth Robin Sykes sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of C$17.74, for a total transaction of C$88,700.00. Following the transaction, the insider owned 147,977 shares in the company, valued at C$2,625,111.98. This represents a 3.27% decrease in their position. In the last 90 days, insiders acquired 17,600 shares of company stock worth $313,252 and sold 24,735 shares worth $353,779. 1.20% of the stock is currently owned by company insiders.

About Obsidian Energy

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.