Obsidian Energy (TSE:OBE) Cut to Sector Perform at Royal Bank of Canada

Royal Bank of Canada cut shares of Obsidian Energy (TSE:OBE) from an outperform rating to a sector perform rating in a report published on Thursday morning,BayStreet.CA reports. They currently have C$10.00 price objective on the stock, down from their prior price objective of C$12.00.

OBE has been the topic of a number of other research reports. Raymond James cut shares of Obsidian Energy from a “strong-buy” rating to a “market perform” rating and decreased their price objective for the company from C$14.00 to C$10.00 in a research report on Wednesday, April 9th. BMO Capital Markets raised their target price on Obsidian Energy from C$12.00 to C$14.00 in a research note on Thursday, February 20th.

Obsidian Energy Stock Down 5.8 %

Shares of Obsidian Energy stock opened at C$6.55 on Thursday. The company has a debt-to-equity ratio of 20.55, a quick ratio of 0.41 and a current ratio of 0.45. Obsidian Energy has a 52-week low of C$5.67 and a 52-week high of C$12.37. The company’s 50 day moving average price is C$7.52 and its 200-day moving average price is C$7.83. The stock has a market capitalization of C$497.84 million, a price-to-earnings ratio of 4.27, a P/E/G ratio of 0.08 and a beta of 2.30.

Insider Activity at Obsidian Energy

In other news, Director Gordon Malcolm Ritchie bought 4,229 shares of the stock in a transaction dated Thursday, February 27th. The stock was bought at an average price of C$7.94 per share, for a total transaction of C$33,578.26. Also, Senior Officer Mark Kristian Rodger Hawkins sold 25,000 shares of the company’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of C$7.56, for a total value of C$189,000.00. Insiders have purchased a total of 5,329 shares of company stock worth $40,805 over the last quarter. Corporate insiders own 1.20% of the company’s stock.

Obsidian Energy Company Profile

Obsidian Energy Ltd, is an intermediate-sized oil and gas producer with strategic assets in Alberta. It operates in a single reporting segment that is exploration, development and holding an interest in oil and natural gas properties and related production infrastructure in the Western Canada Sedimentary Basin.