Obsidian Energy (TSE:OBE) had its target price decreased by research analysts at Canaccord Genuity from C$1.40 to C$1.00 in a research note issued on Thursday. Canaccord Genuity’s price target indicates a potential upside of 47.06% from the stock’s current price.
A number of other research firms have also recently commented on OBE. Raymond James cut their target price on Obsidian Energy from C$2.50 to C$2.25 in a research note on Friday, October 5th. BMO Capital Markets cut their target price on Obsidian Energy from C$1.60 to C$1.35 in a research note on Tuesday, October 9th. Royal Bank of Canada cut their target price on Obsidian Energy from C$2.00 to C$1.50 and set a “sector perform” rating on the stock in a research note on Friday, November 9th. National Bank Financial lowered their price target on Obsidian Energy from C$2.00 to C$1.75 and set an “outperform” rating for the company in a report on Friday, November 9th. Finally, TD Securities lowered their price target on Obsidian Energy from C$2.00 to C$1.25 and set a “buy” rating for the company in a report on Friday, November 9th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of C$1.19.
Shares of OBE remained flat at $C$0.68 during mid-day trading on Thursday. The stock had a trading volume of 101,908 shares, compared to its average volume of 358,458. Obsidian Energy has a 1 year low of C$0.43 and a 1 year high of C$1.60. The company has a current ratio of 0.39, a quick ratio of 0.32 and a debt-to-equity ratio of 19.90.
Obsidian Energy Company Profile
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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