Obsidian Energy (OBE) Issues Quarterly Earnings Results

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Obsidian Energy (TSE:OBE) posted its earnings results on Thursday. The company reported C($0.06) earnings per share for the quarter, reports. The business had revenue of C$124.00 million during the quarter.

Shares of TSE:OBE traded down C$0.07 during midday trading on Friday, reaching C$0.82. The company had a trading volume of 522,800 shares, compared to its average volume of 421,769. The company has a quick ratio of 0.38, a current ratio of 0.46 and a debt-to-equity ratio of 20.16. Obsidian Energy has a 1-year low of C$0.82 and a 1-year high of C$1.85.

Several research firms have issued reports on OBE. TD Securities dropped their price target on Obsidian Energy from C$2.00 to C$1.25 and set a “buy” rating on the stock in a research note on Friday. Raymond James dropped their price target on Obsidian Energy from C$2.25 to C$2.00 and set an “outperform” rating on the stock in a research note on Friday. Royal Bank of Canada dropped their price target on Obsidian Energy from C$2.00 to C$1.50 and set a “sector perform” rating on the stock in a research note on Friday. Canaccord Genuity dropped their price target on Obsidian Energy from C$1.80 to C$1.40 in a research note on Friday. Finally, BMO Capital Markets dropped their price target on Obsidian Energy from C$1.35 to C$1.00 in a research note on Friday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. Obsidian Energy has an average rating of “Hold” and an average price target of C$1.64.

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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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Earnings History for Obsidian Energy (TSE:OBE)

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