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

Obsidian Energy (TSE:OBE) had its target price cut by equities researchers at BMO Capital Markets from C$17.00 to C$12.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. BMO Capital Markets’ target price indicates a potential upside of 56.66% from the stock’s current price.

Other research analysts have also issued reports about the company. Raymond James upgraded Obsidian Energy to a “strong-buy” rating in a research note on Thursday, October 17th. Royal Bank of Canada cut their price target on shares of Obsidian Energy from C$15.00 to C$13.00 in a report on Tuesday, September 17th.

Obsidian Energy Price Performance

Obsidian Energy stock opened at C$7.66 on Friday. The business has a 50 day simple moving average of C$8.04 and a 200 day simple moving average of C$8.91. The company has a debt-to-equity ratio of 22.94, a current ratio of 0.49 and a quick ratio of 0.41. The company has a market capitalization of C$582.24 million, a PE ratio of 5.85, a price-to-earnings-growth ratio of 0.08 and a beta of 2.30. Obsidian Energy has a one year low of C$7.32 and a one year high of C$12.37.

Insiders Place Their Bets

In related 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 shares were sold at an average price of C$8.55, for a total value of C$214,391.25. Insiders own 1.20% of the company’s stock.

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.