Obsidian Energy (TSE:OBE) Price Target Raised to C$14.00

Obsidian Energy (TSE:OBE) had its price target lifted by stock analysts at BMO Capital Markets from C$12.00 to C$14.00 in a report issued on Thursday,BayStreet.CA reports. BMO Capital Markets’ price objective would suggest a potential upside of 61.85% from the stock’s previous close.

Separately, Royal Bank of Canada reduced their price objective on Obsidian Energy from C$13.00 to C$12.00 in a research note on Tuesday, January 14th.

Obsidian Energy Trading Up 11.3 %

TSE OBE traded up C$0.88 during trading hours on Thursday, hitting C$8.65. 558,157 shares of the company’s stock were exchanged, compared to its average volume of 222,282. The stock has a 50-day simple moving average of C$7.87 and a 200 day simple moving average of C$8.16. Obsidian Energy has a 1-year low of C$7.02 and a 1-year high of C$12.37. The firm has a market cap of C$657.45 million, a price-to-earnings ratio of 5.64, a PEG ratio of 0.08 and a beta of 2.30. The company has a current ratio of 0.45, a quick ratio of 0.41 and a debt-to-equity ratio of 20.55.

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.