Among the Canadian small-cap stocks, you will find Obsidian Energy operating in the gas and oil industry. The insiders in this company have within three months invested over 18 million shares. It is an optimistic signal when the insiders can invest more in shares of their own company. Whenever there is insider buying, it ensures the stocks outperform the market by a margin of about 4.5 percent. This is according to research done 20 years ago, which has been published in The MIT Press. The current movement of share prices and the future growth expectations influence one’s confidence to invest.
At Obsidian Energy, shares have been more bought than sold in the past three months. This translates that more than 36 million business shares are owned by the insiders. The reason the future for Obsidian Energy looks brighter is the expected twice time-line growth of the company by next year. This indicates the past growth initiatives are yielding meaningful benefits for the company. The act of buying the company’s shares by the insiders shows they have more confidence with the company’s progress in the business world. Refer to This Article for related information.
Obsidian Energy produces about 30,000 boe pd of energy per day. Its high-quality assets have given it a portfolio that is well-balanced. The organization crafted around these assets enables the company to deliver great results through the right platform. What has made the company thrive in such an evolving industry is its entrepreneurial spirit. Obsidian has relentless passion and discipline that helps it achieve the bottom-line results it achieves. This also enables the company to resolute accountability to the community, partners, and shareholders.
Initially, the company used to be called Penn West Petroleum, but it changed its name to Obsidian Energy on 26th June 2017. The kind of changes the company went through under the name Penn West was significant. These changes have left the business aspects and organization of the company improved and redefined. From the time it changed its name, the company has become more effective, leaner and stronger. It seems that the changes are also headed Obsidian Energy down a new exciting path that makes its future look great.