Obsidian Energy (TSE:OBE) Stock Price Up 26.2%

Obsidian Energy Ltd (TSE:OBE) shares rose 26.2% during mid-day trading on Wednesday . The stock traded as high as C$0.78 and last traded at C$0.77, approximately 163,539 shares changed hands during trading. An increase of 97% from the average daily volume of 83,125 shares. The stock had previously closed at C$0.61.

OBE has been the topic of several analyst reports. BMO Capital Markets reduced their target price on Obsidian Energy from C$1.50 to C$1.25 and set an “underperform” rating on the stock in a report on Thursday, August 29th. National Bank Financial reduced their target price on Obsidian Energy from C$1.75 to C$1.00 and set a “sector perform” rating on the stock in a report on Tuesday. TD Securities reduced their target price on Obsidian Energy from C$1.20 to C$0.90 and set a “hold” rating on the stock in a report on Tuesday, November 5th. Finally, Raymond James reissued an “underperform” rating and set a C$0.25 target price on shares of Obsidian Energy in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of C$1.08.

The firm has a 50 day moving average of C$0.79 and a two-hundred day moving average of C$1.08. The firm has a market capitalization of $45.99 million and a price-to-earnings ratio of -0.14. The company has a quick ratio of 0.34, a current ratio of 1.01 and a debt-to-equity ratio of 35.92.

Obsidian Energy (TSE:OBE) last released its quarterly earnings data on Monday, November 4th. The company reported C($0.38) earnings per share for the quarter. The company had revenue of C$94.00 million during the quarter. Sell-side analysts forecast that Obsidian Energy Ltd will post -1.64 EPS for the current fiscal year.

Obsidian Energy Company Profile (TSE:OBE)

Obsidian Energy Ltd. explores for, develops, and produces oil and natural gas in western Canada. It holds interests in the Alberta Viking, Cardium, Deep Basin, and Peace River areas. The company was formerly known as Penn West Petroleum Ltd. and changed its name to Obsidian Energy Ltd. in June 2017. Obsidian Energy Ltd.

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