Obsidian Energy (TSE:OBE) Shares Up 9.4% After Analyst Upgrade

Obsidian Energy Ltd. (TSE:OBE) shares traded up 9.4% on Thursday after BMO Capital Markets raised their price target on the stock from C$12.00 to C$14.00. The company traded as high as C$8.52 and last traded at C$8.50. 121,450 shares were traded during trading, a decline of 42% from the average session volume of 207,756 shares. The stock had previously closed at C$7.77.

Separately, Royal Bank of Canada lowered their target price on Obsidian Energy from C$13.00 to C$12.00 in a report on Tuesday, January 14th.

Obsidian Energy Price Performance

The firm has a market cap of C$649.85 million, a PE ratio of 5.57, a PEG ratio of 0.08 and a beta of 2.30. The firm has a fifty day simple moving average of C$7.91 and a two-hundred day simple moving average of C$8.15. The company has a debt-to-equity ratio of 20.55, a quick ratio of 0.41 and a current ratio of 0.45.

Obsidian Energy Company Profile

Obsidian Energy Ltd. engages in the exploration, production, and development of oil and natural gas properties in the Western Canada. The company was formerly known as Penn West Petroleum Ltd. and changed its name to Obsidian Energy Ltd. in June 2017. Obsidian Energy Ltd. is headquartered in Calgary, Canada.