Edward Hume Kernaghan, a director at Obsidian Energy Ltd., has increased his stake in the company by purchasing 5,600 shares on November 6, 2023. The shares were acquired at an average price of C$7.90 each, amounting to a total investment of C$44,240.00. Following this transaction, Kernaghan now holds 3,729,414 shares, valued at approximately C$29,462,370.60. This purchase represents a 0.15% increase in his ownership of the company’s stock.
On the trading front, Obsidian Energy’s stock saw an uptick of 2.5% on November 7, 2023, rising by C$0.20 to reach C$8.22. The trading volume for the day stood at 282,634 shares, slightly below the average volume of 324,178 shares. The company’s fifty-day simple moving average is C$8.56, while the two-hundred-day average is C$7.79.
Financial Overview
Obsidian Energy Ltd. currently boasts a market capitalization of C$551.69 million. The company has a price-to-earnings (P/E) ratio of -2.69 and a price-to-earnings-to-growth (P/E/G) ratio of 0.08, indicating significant fluctuations in earnings. The stock’s beta stands at -0.07, reflecting its low volatility relative to the market.
Over the past year, Obsidian’s shares have fluctuated between a 52-week low of C$5.35 and a 52-week high of C$9.86. The company maintains a debt-to-equity ratio of 20.55, a quick ratio of 0.41, and a current ratio of 0.45, highlighting its financial structure and liquidity position.
Company Profile
Obsidian Energy Ltd. is an intermediate-sized oil and gas producer based in Alberta. The company focuses on exploration, development, and maintaining interests in oil and natural gas properties, as well as related production infrastructure within the Western Canada Sedimentary Basin.
Investors and analysts closely monitor such insider trading activities as they can provide insights into the company’s future performance and management confidence. For those interested in receiving ongoing updates, a daily summary of news and analyst ratings for Obsidian Energy and related companies is available through MarketBeat.com’s free email newsletter.
