Obsidian Energy (TSE:OBE) Price Target Lowered to C$9.00 at Raymond James

Obsidian Energy (TSE:OBE) had its price target trimmed by Raymond James from C$10.00 to C$9.00 in a research note published on Thursday,BayStreet.CA reports. The brokerage currently has a market perform rating on the stock.

Other analysts have also recently issued reports about the company. Royal Bank of Canada cut their target price on Obsidian Energy from C$10.00 to C$9.00 and set a “sector perform” rating on the stock in a research note on Thursday. BMO Capital Markets upped their target price on Obsidian Energy from C$12.00 to C$14.00 in a report on Thursday, February 20th.

Obsidian Energy Stock Up 6.7 %

Shares of Obsidian Energy stock opened at C$6.03 on Thursday. The company has a debt-to-equity ratio of 20.55, a quick ratio of 0.41 and a current ratio of 0.45. Obsidian Energy has a 52-week low of C$5.35 and a 52-week high of C$11.26. The company’s 50 day moving average price is C$6.99 and its 200-day moving average price is C$7.59. The stock has a market capitalization of C$458.31 million, a price-to-earnings ratio of 3.93, a P/E/G ratio of 0.08 and a beta of 2.30.

Insider Buying and Selling

In related news, Senior Officer Mark Kristian Rodger Hawkins sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of C$7.56, for a total value of C$189,000.00. Also, Director Gordon Malcolm Ritchie acquired 4,229 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average cost of C$7.94 per share, for a total transaction of C$33,578.26. Insiders have purchased 6,329 shares of company stock worth $46,744 in the last 90 days. Insiders own 1.20% of the company’s stock.

About Obsidian Energy

Obsidian Energy Ltd, is an intermediate-sized oil and gas producer with strategic assets in Alberta. It operates in a single reporting segment that is exploration, development and holding an interest in oil and natural gas properties and related production infrastructure in the Western Canada Sedimentary Basin.