Edward Hume Kernaghan, a director at Obsidian Energy Ltd., purchased 6,900 shares of the company on November 4, 2023, in a transaction valued at approximately C$54,165.00. The shares were acquired at an average price of C$7.85 each, increasing Kernaghan’s total ownership in the company to 3,715,214 shares, which are now valued at around C$29,164,429.90. This transaction represents a modest increase of 0.19% in his holdings.
Following this acquisition, shares of Obsidian Energy experienced a notable movement in midday trading on the following Friday, rising by C$0.20 to a trading price of C$8.22. The company recorded a trading volume of 282,634 shares, slightly below its average volume of 324,178 shares.
Company Performance and Financial Ratios
As of now, Obsidian Energy has a market capitalization of approximately C$551.69 million. The company’s financial health is illustrated by its current ratio of 0.45 and a quick ratio of 0.41, while its debt-to-equity ratio stands at a significant 20.55. Over the past year, the stock has fluctuated between a low of C$5.35 and a high of C$9.86.
In addition, the stock has a price-to-earnings ratio of -2.69 and a price-to-earnings-growth ratio of 0.08, indicating the company’s challenging profitability situation. The beta of -0.07 suggests that the stock is less volatile compared to the market.
About Obsidian Energy Ltd.
Obsidian Energy Ltd. is an intermediate-sized oil and gas producer based in Alberta, Canada. The company focuses on exploration, development, and holding interests in oil and natural gas properties, along with related production infrastructure in the Western Canada Sedimentary Basin. Its strategic assets are designed to optimize production efficiency and enhance long-term growth.
Investors and analysts are keeping a close eye on Obsidian Energy as they assess its future performance in the fluctuating energy market. The recent insider buying may signal confidence in the company’s direction amidst these changes. For those interested in ongoing updates, a daily summary of news and analysts’ ratings for Obsidian Energy is available through MarketBeat’s free email newsletter.
