Raymond James Downgrades Obsidian Energy (TSE:OBE) to Market Perform

Obsidian Energy (TSE:OBE) was downgraded by research analysts at Raymond James from a “strong-buy” rating to a “market perform” rating in a research report issued to clients and investors on Wednesday, Marketbeat reports. They presently have a C$10.00 price objective on the stock, down from their prior price objective of C$14.00. Raymond James’ price objective points to a potential upside of 66.11% from the company’s current price.

OBE has been the subject of a number of other research reports. BMO Capital Markets raised their target price on shares of Obsidian Energy from C$12.00 to C$14.00 in a research report on Thursday, February 20th. Royal Bank of Canada reduced their price objective on shares of Obsidian Energy from C$13.00 to C$12.00 in a research note on Tuesday, January 14th.

Obsidian Energy Trading Down 10.4 %

TSE:OBE opened at C$6.02 on Wednesday. The company has a market cap of C$457.55 million, a P/E ratio of 3.92, a price-to-earnings-growth ratio of 0.08 and a beta of 2.30. Obsidian Energy has a twelve month low of C$5.67 and a twelve month high of C$12.37. The business has a 50 day moving average price of C$7.61 and a two-hundred day moving average price of C$7.86. The company has a quick ratio of 0.41, a current ratio of 0.45 and a debt-to-equity ratio of 20.55.

Insider Activity

In other Obsidian Energy news, Director Gordon Malcolm Ritchie purchased 4,229 shares of the stock in a transaction on Thursday, February 27th. The shares were purchased at an average price of C$7.94 per share, with a total value of C$33,578.26. Also, Senior Officer Mark Kristian Rodger Hawkins sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of C$7.56, for a total value of C$189,000.00. In the last 90 days, insiders purchased 5,329 shares of company stock valued at $40,805. 1.20% of the stock is owned by insiders.

About Obsidian Energy

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.