Obsidian Energy (TSE:OBE) Price Target Cut to C$1.50

Obsidian Energy (TSE:OBE) had its price target cut by Canaccord Genuity from C$2.80 to C$1.50 in a research report report published on Tuesday, BayStreet.CA reports.

A number of other equities analysts have also recently weighed in on the company. Raymond James set a C$0.50 price target on Obsidian Energy and gave the stock a market perform rating in a report on Tuesday, May 21st. TD Securities cut Obsidian Energy from a buy rating to a hold rating and cut their price target for the stock from C$0.65 to C$0.50 in a report on Monday, March 11th. National Bank Financial cut their price target on Yangarra Resources from C$5.50 to C$5.00 and set an outperform rating for the company in a report on Tuesday, June 25th. Finally, GMP Securities reissued a buy rating and issued a $22.25 price target on shares of SPDR Wells Fargo Preferred Stock ETF in a report on Friday, June 28th. Six analysts have rated the stock with a hold rating, Obsidian Energy currently has an average rating of Hold and an average price target of C$1.31.

TSE OBE opened at C$1.41 on Tuesday. Obsidian Energy has a fifty-two week low of C$1.32 and a fifty-two week high of C$10.43. The firm has a market capitalization of $105.09 million and a PE ratio of -0.35. The business has a fifty day moving average of C$1.09. The company has a debt-to-equity ratio of 32.33, a quick ratio of 0.40 and a current ratio of 0.46.

Obsidian Energy (TSE:OBE) last released its quarterly earnings results on Friday, May 10th. The company reported C($0.11) earnings per share for the quarter. The firm had revenue of C$103.00 million during the quarter. As a group, analysts forecast that Obsidian Energy will post -0.17 EPS for the current fiscal year.

About Obsidian Energy

Obsidian Energy Ltd. explores for, develops, and produces oil and natural gas in western Canada. It holds interests in the Alberta Viking, Cardium, Deep Basin, and Peace River areas. The company was formerly known as Penn West Petroleum Ltd. and changed its name to Obsidian Energy Ltd. in June 2017. Obsidian Energy Ltd.

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Analyst Recommendations for Obsidian Energy (TSE:OBE)

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