Analysts Set Obsidian Energy Ltd (OBE) Price Target at $1.19

Obsidian Energy Ltd (TSE:OBE) has been assigned a consensus recommendation of “Buy” from the eight research firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is C$1.19.

Several equities research analysts have issued reports on OBE shares. BMO Capital Markets dropped their target price on Obsidian Energy from C$1.60 to C$1.35 in a research report on Tuesday, October 9th. National Bank Financial decreased their price target on shares of Obsidian Energy from C$2.00 to C$1.75 and set an “outperform” rating on the stock in a report on Friday, November 9th. Royal Bank of Canada decreased their price target on shares of Obsidian Energy from C$2.00 to C$1.50 and set a “sector perform” rating on the stock in a report on Friday, November 9th. TD Securities decreased their price target on shares of Obsidian Energy from C$1.25 to C$1.15 and set a “buy” rating on the stock in a report on Monday, November 19th. Finally, Canaccord Genuity decreased their price target on shares of Obsidian Energy from C$1.80 to C$1.40 in a report on Friday, November 9th.

Shares of TSE:OBE traded up C$0.02 during trading on Friday, hitting C$0.64. 266,600 shares of the company were exchanged, compared to its average volume of 276,229. Obsidian Energy has a 52-week low of C$0.43 and a 52-week high of C$1.59. The company has a debt-to-equity ratio of 19.90, a quick ratio of 0.32 and a current ratio of 0.39.

Obsidian Energy (TSE:OBE) last posted its earnings results on Thursday, November 8th. The company reported C($0.06) earnings per share (EPS) for the quarter. The business had revenue of C$124.00 million during the quarter. On average, analysts expect that Obsidian Energy will post -0.12999999796875 EPS 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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