Obsidian Energy (TSE:OBE) Upgraded to “Strong-Buy” by Raymond James

Obsidian Energy (TSE:OBE) was upgraded by research analysts at Raymond James to a “strong-buy” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

Separately, Royal Bank of Canada cut their price objective on Obsidian Energy from C$15.00 to C$13.00 in a report on Tuesday, September 17th.

Obsidian Energy Stock Down 0.4 %

Shares of TSE OBE opened at C$8.04 on Thursday. The company has a market cap of C$611.12 million, a price-to-earnings ratio of 6.14, a PEG ratio of 0.08 and a beta of 2.30. The company has a current ratio of 0.49, a quick ratio of 0.41 and a debt-to-equity ratio of 22.94. Obsidian Energy has a 12 month low of C$7.36 and a 12 month high of C$12.37. The stock has a 50-day moving average price of C$8.52 and a two-hundred day moving average price of C$9.80.

Obsidian Energy (TSE:OBE) last issued its quarterly earnings data on Thursday, August 1st. The company reported C$0.46 EPS for the quarter. Obsidian Energy had a net margin of 15.81% and a return on equity of 6.56%. The business had revenue of C$208.40 million during the quarter. As a group, analysts forecast that Obsidian Energy will post 1.5996205 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Obsidian Energy news, Director Gordon Malcolm Ritchie purchased 11,000 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was purchased at an average price of C$7.99 per share, with a total value of C$87,890.00. In related news, Director Gordon Malcolm Ritchie purchased 11,000 shares of Obsidian Energy stock in a transaction on Thursday, September 5th. The shares were purchased at an average price of C$7.99 per share, for a total transaction of C$87,890.00. Also, Director Michael Faust purchased 40,200 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was bought at an average cost of C$6.21 per share, with a total value of C$249,654.06. 1.20% of the stock is owned by corporate insiders.

About Obsidian Energy

Obsidian Energy Ltd. engages in the exploration, production, and development of oil and natural gas properties in the Western Canada. The company was formerly known as Penn West Petroleum Ltd. and changed its name to Obsidian Energy Ltd. in June 2017. Obsidian Energy Ltd. is headquartered in Calgary, Canada.