Canaccord Genuity Lowers Obsidian Energy (OBE) Price Target to C$1.40

Obsidian Energy (TSE:OBE) had its target price lowered by research analysts at Canaccord Genuity from C$1.80 to C$1.40 in a research note issued to investors on Friday. Canaccord Genuity’s target price points to a potential upside of 70.73% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. BMO Capital Markets cut their price objective on shares of Obsidian Energy from C$1.35 to C$1.00 in a report on Friday. Raymond James dropped their target price on shares of Obsidian Energy from C$2.50 to C$2.25 in a research note on Friday, October 5th. CIBC upped their target price on shares of Obsidian Energy from C$1.50 to C$1.75 in a research note on Friday, July 20th. Finally, National Bank Financial dropped their target price on shares of Obsidian Energy from C$2.00 to C$1.75 and set an “outperform” rating on the stock in a research note on Friday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of C$1.64.

Shares of OBE opened at C$0.82 on Friday. The company has a quick ratio of 0.38, a current ratio of 0.46 and a debt-to-equity ratio of 20.16. Obsidian Energy has a fifty-two week low of C$0.82 and a fifty-two week high of C$1.85.

Obsidian Energy (TSE:OBE) last announced its quarterly earnings data on Thursday, November 8th. The company reported C($0.06) earnings per share for the quarter. The business had revenue of C$124.00 million for the quarter. Analysts predict that Obsidian Energy will post -0.119999997073171 earnings per share for the current year.

About Obsidian Energy

Obsidian Energy Ltd. explores for, develops, and produces oil and natural gas in western Canada. The company primarily holds interests in the Cardium development area that covers an area of approximately 450 net sections of developed and undeveloped land located in west central Alberta; Peace River development area covering an area of 235 net sections of developed and undeveloped land located in northwestern Alberta; and Viking development area that covers an area of approximately 170 net sections of developed and undeveloped land located in Eastern Alberta.

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Analyst Recommendations for Obsidian Energy (TSE:OBE)

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