Obsidian Energy (TSE:OBE) Sets New 12-Month High – Still a Buy?

Obsidian Energy Ltd. (TSE:OBE) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$12.09 and last traded at C$12.09, with a volume of 94372 shares traded. The stock had previously closed at C$11.72.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on OBE. Royal Bank Of Canada increased their target price on Obsidian Energy from C$9.00 to C$10.00 and gave the stock a “hold” rating in a research note on Friday, February 20th. BMO Capital Markets lifted their price target on Obsidian Energy from C$10.00 to C$12.00 and gave the company an “outperform” rating in a research note on Friday, February 20th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Obsidian Energy currently has a consensus rating of “Hold” and an average price target of C$10.33.

Obsidian Energy Stock Down 0.3%

The firm has a market capitalization of C$806.34 million, a PE ratio of 24.45, a price-to-earnings-growth ratio of 0.08 and a beta of 0.19. The firm’s 50-day moving average is C$10.41 and its 200 day moving average is C$9.15. 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 posted its earnings results on Thursday, February 19th. The company reported C($0.18) earnings per share for the quarter. Obsidian Energy had a net margin of 5.85% and a return on equity of 2.51%. The business had revenue of C$114.80 million for the quarter. As a group, research analysts forecast that Obsidian Energy Ltd. will post 1.5996205 earnings per share for the current fiscal 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.