Obsidian Energy (TSE:OBE) Stock Price Expected to Rise, Raymond James Financial Analyst Says

Obsidian Energy (TSE:OBE) had its price target lifted by equities research analysts at Raymond James Financial from C$14.00 to C$19.00 in a report issued on Friday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Raymond James Financial’s price objective points to a potential upside of 2.81% from the company’s previous close.

A number of other analysts also recently issued reports on the company. Royal Bank Of Canada lifted their target price on Obsidian Energy from C$9.00 to C$10.00 and gave the company a “hold” rating in a research report on Friday, February 20th. BMO Capital Markets lifted their target price on Obsidian Energy from C$10.00 to C$12.00 and gave the company an “outperform” rating in a research report on Friday, February 20th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$13.67.

Obsidian Energy Price Performance

TSE:OBE opened at C$18.48 on Friday. The company has a debt-to-equity ratio of 15.52, a quick ratio of 0.41 and a current ratio of 0.54. The stock’s 50-day simple moving average is C$12.40 and its 200 day simple moving average is C$10.00. The company has a market cap of C$1.25 billion, a P/E ratio of 37.71, a P/E/G ratio of 0.08 and a beta of -0.34. Obsidian Energy has a 52-week low of C$5.35 and a 52-week high of C$18.53.

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

Insider Activity

In other news, insider Gareth Robin Sykes sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of C$12.24, for a total transaction of C$61,200.00. Following the completion of the sale, the insider owned 132,244 shares in the company, valued at C$1,618,666.56. The trade was a 3.64% decrease in their ownership of the stock. Insiders sold a total of 14,735 shares of company stock worth $178,579 in the last three months. Insiders own 1.20% of the company’s stock.

Obsidian Energy Company Profile

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.