Obsidian Energy (OBE) Reaches New 1-Year High at $1.53

Shares of Obsidian Energy (TSE:OBE) hit a new 52-week high on Thursday . The stock traded as high as C$1.53 and last traded at C$1.54, with a volume of 549197 shares changing hands. The stock had previously closed at C$1.47.

Several brokerages recently weighed in on OBE. BMO Capital Markets cut their price objective on shares of Obsidian Energy from C$1.50 to C$1.25 in a research report on Thursday, March 8th. CIBC upgraded shares of Obsidian Energy from an “underperform” rating to a “neutral” rating in a research report on Thursday, March 8th. Raymond James lifted their price objective on shares of Obsidian Energy from C$1.75 to C$2.00 in a research report on Tuesday, April 24th. Finally, Canaccord Genuity upgraded shares of Obsidian Energy from a “hold” rating to a “speculative buy” rating in a research report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of C$1.88.

Obsidian Energy (TSE:OBE) last issued its quarterly earnings data on Wednesday, March 7th. The company reported C($0.12) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C($0.09) by C($0.03). The firm had revenue of C$119.00 million during the quarter. Obsidian Energy had a negative net margin of 52.25% and a negative return on equity of 10.60%.

Obsidian Energy Company Profile

Obsidian Energy Ltd. explores for, develops, and produces oil and natural gas in western Canada. The company primarily holds interests in the Cardium development area that covers an area of approximately 450 net sections of developed and undeveloped land located in west central Alberta; Peace River development area covering an area of 235 net sections of developed and undeveloped land located in northwestern Alberta; and Viking development area that covers an area of approximately 170 net sections of developed and undeveloped land located in Eastern Alberta.

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