Obsidian Energy (TSE:OBE) Sets New 12-Month High on Analyst Upgrade

Shares of Obsidian Energy Ltd. (TSE:OBE) reached a new 52-week high during trading on Friday after Royal Bank Of Canada raised their price target on the stock from C$9.00 to C$10.00. Royal Bank Of Canada currently has a sector perform rating on the stock. Obsidian Energy traded as high as C$11.06 and last traded at C$11.05, with a volume of 196147 shares changing hands. The stock had previously closed at C$10.40.

Separately, BMO Capital Markets upped their price target on shares of Obsidian Energy from C$10.00 to C$12.00 and gave the company an “outperform” rating in a research report on Friday. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of C$10.33.

Obsidian Energy Price Performance

The business’s 50-day simple moving average is C$9.09 and its 200-day simple moving average is C$8.68. The stock has a market cap of C$732.91 million, a PE ratio of -3.57, a PEG 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.

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.