Obsidian Energy (TSE:OBE) Price Target Raised to C$19.00 at Raymond James Financial

Obsidian Energy (TSE:OBE) had its target price increased by stock analysts at Raymond James Financial from C$14.00 to C$19.00 in a research note issued on Friday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Raymond James Financial’s price target would suggest a potential upside of 3.26% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Royal Bank Of Canada boosted their price objective on shares of Obsidian Energy from C$9.00 to C$10.00 and gave the stock a “hold” rating in a research report on Friday, February 20th. BMO Capital Markets boosted their price objective on shares of Obsidian Energy from C$10.00 to C$12.00 and gave the stock an “outperform” rating in a research report on Friday, February 20th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Obsidian Energy has an average rating of “Moderate Buy” and a consensus price target of C$13.67.

Obsidian Energy Price Performance

Shares of TSE:OBE traded up C$0.89 on Friday, reaching C$18.40. 654,013 shares of the company were exchanged, compared to its average volume of 400,068. The company has a current ratio of 0.54, a quick ratio of 0.41 and a debt-to-equity ratio of 15.52. Obsidian Energy has a 1-year low of C$5.35 and a 1-year high of C$18.53. The firm has a market cap of C$1.24 billion, a price-to-earnings ratio of 37.55, a price-to-earnings-growth ratio of 0.08 and a beta of -0.34. The company has a 50-day moving average of C$12.24 and a 200-day moving average of C$9.94.

Obsidian Energy (TSE:OBE) last posted 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 2.51% and a net margin of 5.85%.The company had revenue of C$114.80 million for the quarter. Equities analysts forecast that Obsidian Energy will post 1.5996205 earnings per share for the current fiscal year.

Insider Activity at Obsidian Energy

In related news, insider Gareth Robin Sykes sold 5,000 shares of the business’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of C$12.24, for a total value of C$61,200.00. Following the sale, the insider directly owned 132,244 shares in the company, valued at C$1,618,666.56. The trade was a 3.64% decrease in their position. In the last 90 days, insiders have sold 14,735 shares of company stock valued at $178,579. 1.20% of the stock is owned by insiders.

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.