Obsidian Energy (TSE:OBE) Price Target Cut to C$13.00

Obsidian Energy (TSE:OBE) had its target price reduced by stock analysts at Royal Bank of Canada from C$15.00 to C$13.00 in a note issued to investors on Tuesday, BayStreet.CA reports. Royal Bank of Canada’s price objective would suggest a potential upside of 63.73% from the stock’s previous close.

Obsidian Energy Stock Performance

Obsidian Energy stock opened at C$7.94 on Tuesday. The firm has a fifty day simple moving average of C$9.31 and a two-hundred day simple moving average of C$10.15. Obsidian Energy has a twelve month low of C$7.69 and a twelve month high of C$12.37. The company has a market capitalization of C$603.52 million, a PE ratio of 6.06, a P/E/G ratio of 0.08 and a beta of 2.35. The company has a quick ratio of 0.41, a current ratio of 0.49 and a debt-to-equity ratio of 22.94.

Obsidian Energy (TSE:OBE) last issued its earnings results on Thursday, August 1st. The company reported C$0.46 earnings per share for the quarter. The company had revenue of C$208.40 million during the quarter. Obsidian Energy had a return on equity of 6.56% and a net margin of 15.81%.

Insider Buying and Selling

In other news, Director Michael Faust acquired 40,200 shares of the stock in a transaction dated Tuesday, August 6th. The stock was purchased at an average cost of C$6.21 per share, with a total value of C$249,654.06. In related news, Director Gordon Malcolm Ritchie purchased 11,000 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were acquired at an average price of C$7.99 per share, for a total transaction of C$87,890.00. Also, Director Michael Faust acquired 40,200 shares of Obsidian Energy stock in a transaction on Tuesday, August 6th. The shares were bought at an average cost of C$6.21 per share, for a total transaction of C$249,654.06. 1.35% of the stock is owned by insiders.

Obsidian Energy Company Profile

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.