Obsidian Energy (OBE) Trading Up 7.7%

Obsidian Energy Ltd (TSE:OBE)’s share price was up 7.7% during trading on Wednesday . The company traded as high as C$1.27 and last traded at C$1.26. Approximately 653,637 shares traded hands during trading, a decline of 12% from the average daily volume of 746,802 shares. The stock had previously closed at C$1.17.

OBE has been the subject of a number of research reports. Royal Bank of Canada lifted their target price on Obsidian Energy from C$1.45 to C$1.70 and gave the stock a “sector perform” rating in a report on Monday, November 13th. National Bank Financial lifted their target price on Obsidian Energy from C$1.50 to C$2.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 9th. Canaccord Genuity lifted their target price on Obsidian Energy from C$1.50 to C$1.80 in a report on Tuesday, November 28th. Raymond James Financial dropped their target price on Obsidian Energy from C$2.00 to C$1.75 in a report on Monday, February 5th. Finally, AltaCorp Capital raised Obsidian Energy from a “sector perform” rating to an “outperform” rating in a report on Monday, November 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of C$1.88.

The stock has a market capitalization of $585.04, a P/E ratio of -2.41 and a beta of 4.19.

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Obsidian Energy Company Profile

Obsidian Energy Ltd. explores for, develops, and produces oil and natural gas properties in western Canada. It primarily holds interest in the Cardium Resource Play that covers an area of approximately 400 net sections of developed and undeveloped land located in west central Alberta; Peace River Resource Play covering an area of 235 net sections of developed and undeveloped land located in northwestern Alberta; and Viking Resource Play that covers an area of approximately 170 net sections of developed and undeveloped land located in north-central Alberta.

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