Obsidian Energy Ltd T.OBE

Insider Buying

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Over the past 12 months, Obsidian Energy Ltd. shares were down about 25 per cent as of Nov. 6, lagging the S&P/TSX Capped Energy Index which was up slightly. Given Obsidian’s underperformance, it caught our attention to see director Edward Kernaghan buying. In the past, we have characterized Mr. Kernaghan as a value-oriented contrarian investor. As such, we find it notable that on Nov. 1 he bought 140,500 Obsidian shares at an average price of $7.87. In the third quarter, Obsidian produced an average of 39,714 barrels of oil equivalent per day.

 

Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors.

https://www.theglobeandmail.com/investing/markets/inside-the-market/article-edward-kernaghan-buys-as-obsidian-energy-stock-lags/

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Edward seems like a smart guy. If Obsidian is good enough for Edward then it is good enough for me. Edward (Ed) H. Kernaghan Director - Toronto, Ontario   Mr. Kernaghan has over 15 years of experience in the financial services business. He held the position of Executive Vice-President at Kernaghan Securities, a firm he started along with his father, Ted Kernaghan, in 2001. He is