Obsidian Energy (TSE:OBE) Reaches New 1-Year High Following Analyst Upgrade

Obsidian Energy Ltd. (TSE:OBE)’s share price reached a new 52-week high during mid-day trading on Tuesday after Raymond James Financial upgraded the stock from a market perform rating to an outperform rating. Raymond James Financial now has a C$15.00 price target on the stock, up from their previous price target of C$10.00. Obsidian Energy traded as high as C$13.57 and last traded at C$13.18, with a volume of 394483 shares trading hands. The stock had previously closed at C$12.82.

OBE has been the subject of a number of other research reports. Royal Bank Of Canada increased their price objective on shares of Obsidian Energy from C$9.00 to C$10.00 and gave the stock a “hold” rating in a research report on Friday, February 20th. BMO Capital Markets upped their price target on Obsidian Energy from C$10.00 to C$12.00 and gave the stock an “outperform” rating in a research note on Friday, February 20th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$12.33.

Obsidian Energy Price Performance

The company’s 50-day moving average price is C$10.84 and its 200-day moving average price is C$9.34. The company has a quick ratio of 0.41, a current ratio of 0.54 and a debt-to-equity ratio of 15.52. The firm has a market cap of C$887.11 million, a price-to-earnings ratio of 26.90, a PEG ratio of 0.08 and a beta of 0.19.

Obsidian Energy (TSE:OBE) last announced its earnings results on Thursday, February 19th. The company reported C($0.18) earnings per share for the quarter. The business had revenue of C$114.80 million for the quarter. Obsidian Energy had a return on equity of 2.51% and a net margin of 5.85%. On average, equities research analysts forecast that Obsidian Energy Ltd. will post 1.5996205 EPS for the current year.

Obsidian Energy Company Profile

Obsidian Energy is an intermediate-sized oil and gas producer with a well-balanced portfolio of high-quality assets, primarily in the Peace River, Willesden Green and Viking areas in Alberta. The Company’s business is to explore for, develop and hold interests in oil and natural gas properties and related production infrastructure in the Western Canada Sedimentary Basin.