Obsidian Energy (TSE:OBE) Reaches New 52-Week Low on Analyst Downgrade

Obsidian Energy Ltd. (TSE:OBE) shares hit a new 52-week low during mid-day trading on Monday after BMO Capital Markets lowered their price target on the stock from C$17.00 to C$12.00. The stock traded as low as C$7.32 and last traded at C$7.34, with a volume of 120809 shares changing hands. The stock had previously closed at C$7.66.

A number of other equities analysts have also commented on the company. Raymond James raised Obsidian Energy to a “strong-buy” rating in a research note on Thursday, October 17th. Royal Bank of Canada reduced their price target on shares of Obsidian Energy from C$15.00 to C$13.00 in a research report on Tuesday, September 17th.

Insider Activity at Obsidian Energy

In related news, Senior Officer Mark Kristian Rodger Hawkins sold 25,075 shares of the firm’s stock in a transaction 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. 1.20% of the stock is currently owned by insiders.

Obsidian Energy Trading Up 1.1 %

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 business has a 50-day simple moving average of C$7.99 and a two-hundred day simple moving average of C$8.87. The stock has a market cap of C$562.47 million, a price-to-earnings ratio of 5.65, a P/E/G ratio of 0.08 and a beta of 2.30.

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.