Obsidian Energy (TSE:OBE) Hits New 1-Year High – Here’s Why

Obsidian Energy Ltd. (TSE:OBE) hit a new 52-week high during trading on Wednesday . The stock traded as high as C$12.55 and last traded at C$12.45, with a volume of 482013 shares trading hands. The stock had previously closed at C$12.08.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. BMO Capital Markets boosted their price target on Obsidian Energy from C$10.00 to C$12.00 and gave the stock an “outperform” rating in a research report on Friday, February 20th. Royal Bank Of Canada increased their price objective on Obsidian Energy from C$9.00 to C$10.00 and gave the company a “hold” rating in a report on Friday, February 20th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Obsidian Energy presently has a consensus rating of “Hold” and an average price target of C$10.33.

Obsidian Energy Stock Up 3.1%

The company has a current ratio of 0.54, a quick ratio of 0.41 and a debt-to-equity ratio of 15.52. The firm’s 50 day moving average price is C$10.55 and its two-hundred day moving average price is C$9.22. The company has a market capitalization of C$837.97 million, a price-to-earnings ratio of 25.41, a price-to-earnings-growth ratio of 0.08 and a beta of 0.19.

Obsidian Energy (TSE:OBE) last issued its earnings results on Thursday, February 19th. The company reported C($0.18) earnings per share (EPS) for the quarter. Obsidian Energy had a net margin of 5.85% and a return on equity of 2.51%. The firm had revenue of C$114.80 million during the quarter. Sell-side analysts anticipate that Obsidian Energy Ltd. will post 1.5996205 earnings per share for the current fiscal year.

About Obsidian Energy

Obsidian Energy is an intermediate-sized oil and gas producer with a well-balanced portfolio of high-quality assets, primarily in the Peace River, Willesden Green and Viking areas in Alberta. The Company’s business is to explore for, develop and hold interests in oil and natural gas properties and related production infrastructure in the Western Canada Sedimentary Basin.