Obsidian Energy (TSE:OBE) Reaches New 1-Year High Following Analyst Upgrade

Obsidian Energy Ltd. (TSE:OBE)’s stock price hit a new 52-week high during mid-day 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 trading hands. The stock had previously closed at C$10.40.

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

Obsidian Energy Stock Performance

The company has a 50 day simple moving average of C$9.09 and a 200-day simple moving average of C$8.68. The company has a debt-to-equity ratio of 20.55, a current ratio of 0.45 and a quick ratio of 0.41. The stock has a market cap of C$732.91 million, a P/E ratio of -3.57, a price-to-earnings-growth ratio of 0.08 and a beta of 0.11.

Obsidian Energy Company Profile

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.