Obsidian Energy (TSE:OBE) Price Target Raised to C$14.00

Obsidian Energy (TSE:OBE) had its target price lifted by stock analysts at BMO Capital Markets from C$12.00 to C$14.00 in a note issued to investors on Thursday,BayStreet.CA reports. BMO Capital Markets’ price target would suggest a potential upside of 61.85% from the stock’s previous close.

Separately, Royal Bank of Canada reduced their price target on Obsidian Energy from C$13.00 to C$12.00 in a research report on Tuesday, January 14th.

Obsidian Energy Stock Performance

TSE:OBE traded up C$0.88 during trading hours on Thursday, reaching C$8.65. The stock had a trading volume of 558,157 shares, compared to its average volume of 222,282. The company has a debt-to-equity ratio of 20.55, a quick ratio of 0.41 and a current ratio of 0.45. The stock has a 50 day simple moving average of C$7.87 and a 200 day simple moving average of C$8.16. Obsidian Energy has a 12-month low of C$7.02 and a 12-month high of C$12.37. The stock has a market cap of C$657.45 million, a P/E ratio of 5.64, a price-to-earnings-growth ratio of 0.08 and a beta of 2.30.

About Obsidian Energy

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.