Raymond James Cuts Obsidian Energy (TSE:OBE) Price Target to C$9.00

Obsidian Energy (TSE:OBE) had its price objective lowered by research analysts at Raymond James from C$10.00 to C$9.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage currently has a “market perform” rating on the stock. Raymond James’ price objective points to a potential upside of 41.29% from the company’s previous close.

A number of other analysts also recently weighed in on the stock. BMO Capital Markets upped their price target on shares of Obsidian Energy from C$12.00 to C$14.00 in a report on Thursday, February 20th. Royal Bank of Canada reduced their target price on Obsidian Energy from C$10.00 to C$9.00 and set a “sector perform” rating on the stock in a report on Thursday.

Obsidian Energy Stock Up 5.6 %

Shares of TSE OBE opened at C$6.37 on Thursday. The stock has a market capitalization of C$484.15 million, a P/E ratio of 4.15, a PEG ratio of 0.08 and a beta of 2.30. The stock’s fifty day moving average is C$6.97 and its 200 day moving average is C$7.58. Obsidian Energy has a 52 week low of C$5.35 and a 52 week high of C$11.26. The company has a debt-to-equity ratio of 20.55, a quick ratio of 0.41 and a current ratio of 0.45.

Insider Transactions at Obsidian Energy

In related news, Director Gordon Malcolm Ritchie acquired 4,229 shares of the stock in a transaction dated Thursday, February 27th. The stock was bought at an average cost of C$7.94 per share, for a total transaction of C$33,578.26. Also, Senior Officer Mark Kristian Rodger Hawkins sold 25,000 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of C$7.56, for a total transaction of C$189,000.00. Over the last ninety days, insiders purchased 6,329 shares of company stock worth $46,744. Corporate insiders own 1.20% of the company’s stock.

Obsidian Energy Company Profile

Obsidian Energy Ltd, is an intermediate-sized oil and gas producer with strategic assets in Alberta. It operates in a single reporting segment that is exploration, development and holding an interest in oil and natural gas properties and related production infrastructure in the Western Canada Sedimentary Basin.