Obsidian Energy (OBE) PT Lowered to C$1.75

Obsidian Energy (TSE:OBE) had its price objective lowered by equities researchers at Raymond James Financial from C$2.00 to C$1.75 in a research report issued to clients and investors on Monday. Raymond James Financial’s price objective would indicate a potential upside of 41.13% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. BMO Capital Markets reaffirmed an “underperform” rating and issued a C$1.50 target price on shares of Obsidian Energy in a report on Monday, November 13th. Canaccord Genuity raised their target price on Obsidian Energy from C$1.50 to C$1.80 in a report on Tuesday, November 28th. Scotiabank raised their target price on Obsidian Energy from C$1.75 to C$2.00 and gave the company a “sector perform” rating in a report on Monday, November 13th. Barclays raised their target price on Obsidian Energy from C$1.50 to C$2.00 in a report on Monday, November 13th. Finally, TD Securities raised their target price on Obsidian Energy from C$2.00 to C$2.25 in a report on Monday, November 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of C$1.88.

Shares of Obsidian Energy (OBE) traded down C$0.02 during mid-day trading on Monday, hitting C$1.24. The company’s stock had a trading volume of 1,088,280 shares, compared to its average volume of 684,572. The firm has a market cap of $635.47, a P/E ratio of -2.39 and a beta of 4.19. Obsidian Energy has a 52-week low of C$1.03 and a 52-week high of C$2.36.

Obsidian Energy (TSE:OBE) last issued its earnings results on Friday, November 10th. The company reported C($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of C($0.06) by C($0.03). Obsidian Energy had a negative net margin of 51.16% and a negative return on equity of 7.86%.

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Obsidian Energy Company Profile

Obsidian Energy Ltd. explores for, develops, and produces oil and natural gas properties in western Canada. It primarily holds interest in the Cardium Resource Play that covers an area of approximately 400 net sections of developed and undeveloped land located in west central Alberta; Peace River Resource Play covering an area of 235 net sections of developed and undeveloped land located in northwestern Alberta; and Viking Resource Play that covers an area of approximately 170 net sections of developed and undeveloped land located in north-central Alberta.

Analyst Recommendations for Obsidian Energy (TSE:OBE)

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