BMO Capital Markets Cuts Obsidian Energy (TSE:OBE) Price Target to C$12.00

Obsidian Energy (TSE:OBE) had its price objective cut by BMO Capital Markets from C$17.00 to C$12.00 in a report issued on Friday morning,BayStreet.CA reports.

Several other equities research analysts have also weighed in on OBE. Royal Bank of Canada decreased their target price on Obsidian Energy from C$15.00 to C$13.00 in a research note on Tuesday, September 17th. Raymond James raised Obsidian Energy to a “strong-buy” rating in a report on Thursday, October 17th.

Obsidian Energy Stock Down 0.6 %

Shares of Obsidian Energy stock opened at C$7.66 on Friday. The company has a market capitalization of C$582.24 million, a P/E ratio of 5.85, a P/E/G ratio of 0.08 and a beta of 2.30. The company has a 50 day moving average of C$8.04 and a 200 day moving average of C$8.91. Obsidian Energy has a 52-week low of C$7.32 and a 52-week high of C$12.37. The company has a quick ratio of 0.41, a current ratio of 0.49 and a debt-to-equity ratio of 22.94.

Insider Activity at Obsidian Energy

In other news, Senior Officer Mark Kristian Rodger Hawkins sold 25,075 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of C$8.55, for a total transaction of C$214,391.25. 1.20% of the stock is owned by 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.