Obsidian Energy (TSE:OBE) Hits New 52-Week High – Still a Buy?

Obsidian Energy Ltd. (TSE:OBE)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as C$11.36 and last traded at C$10.93, with a volume of 86666 shares trading hands. The stock had previously closed at C$10.72.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on OBE shares. Royal Bank Of Canada boosted their price objective on shares of Obsidian Energy from C$9.00 to C$10.00 and gave the company a “hold” rating in a research report on Friday, February 20th. BMO Capital Markets lifted their target price 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. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of C$10.33.

Obsidian Energy Trading Up 1.8%

The firm’s 50 day simple moving average is C$9.41 and its 200-day simple moving average is C$8.80. The company has a market capitalization of C$732.24 million, a PE ratio of -3.57, a P/E/G ratio of 0.08 and a beta of 0.11. The company has a quick ratio of 0.41, a current ratio of 0.45 and a debt-to-equity ratio of 20.55.

Obsidian Energy (TSE:OBE) last announced its quarterly earnings results on Thursday, February 19th. The company reported C($0.18) earnings per share for the quarter. Obsidian Energy had a return on equity of 6.99% and a net margin of 16.27%.The business had revenue of C$114.80 million for the quarter. As a group, equities research analysts anticipate that Obsidian Energy Ltd. will post 1.5996205 EPS for the current year.

About Obsidian Energy

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.