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 on Tuesday after Raymond James Financial upgraded the stock from a hold rating to a moderate buy 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.

Several other research analysts have also recently issued reports on the company. Royal Bank Of Canada increased their price objective on 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 shares of 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 analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Obsidian Energy presently has a consensus rating of “Moderate Buy” and an average target price of C$12.33.

Obsidian Energy Trading Down 6.6%

The firm has a market cap of C$831.24 million, a price-to-earnings ratio of 25.20, a PEG ratio of 0.08 and a beta of 0.19. The business has a fifty day moving average of C$10.99 and a two-hundred day moving average of C$9.40. The company has a debt-to-equity ratio of 15.52, a quick ratio of 0.41 and a current ratio of 0.54.

Obsidian Energy (TSE:OBE) last issued its quarterly earnings data on Thursday, February 19th. The company reported C($0.18) earnings per share (EPS) for the quarter. The firm 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%. As a group, equities analysts expect that Obsidian Energy Ltd. will post 1.5996205 earnings per share for the current fiscal 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.