Canaccord Genuity Lowers Obsidian Energy (TSE:OBE) Price Target to C$1.50

Obsidian Energy (TSE:OBE) had its target price lowered by Canaccord Genuity from C$2.80 to C$1.50 in a report published on Tuesday, BayStreet.CA reports.

A number of other research analysts also recently commented on the stock. Raymond James set a C$0.50 price target on shares of Obsidian Energy and gave the company a market perform rating in a report on Tuesday, May 21st. National Bank Financial lowered their price target on shares of Yangarra Resources from C$5.50 to C$5.00 and set an outperform rating for the company in a report on Tuesday, June 25th. GMP Securities reissued a buy rating and issued a $22.25 price objective on shares of SPDR Wells Fargo Preferred Stock ETF in a research note on Friday, June 28th. Finally, TD Securities downgraded shares of Obsidian Energy from a buy rating to a hold rating and decreased their price objective for the stock from C$0.65 to C$0.50 in a research note on Monday, March 11th. Six investment analysts have rated the stock with a hold rating, The stock has a consensus rating of Hold and an average target price of C$1.31.

Shares of TSE:OBE opened at C$1.39 on Tuesday. The company has a current ratio of 0.46, a quick ratio of 0.40 and a debt-to-equity ratio of 32.33. Obsidian Energy has a 12 month low of C$1.32 and a 12 month high of C$10.43. The firm has a 50-day simple moving average of C$1.11. The company has a market cap of $102.90 million and a P/E ratio of -0.34.

Obsidian Energy (TSE:OBE) last announced its quarterly earnings results on Friday, May 10th. The company reported C($0.11) EPS for the quarter. The company had revenue of C$103.00 million for the quarter. As a group, equities research analysts predict that Obsidian Energy will post -0.17 earnings per share for the current fiscal year.

Obsidian Energy Company Profile

Obsidian Energy Ltd. explores for, develops, and produces oil and natural gas in western Canada. It holds interests in the Alberta Viking, Cardium, Deep Basin, and Peace River areas. The company was formerly known as Penn West Petroleum Ltd. and changed its name to Obsidian Energy Ltd. in June 2017. Obsidian Energy Ltd.

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Analyst Recommendations for Obsidian Energy (TSE:OBE)

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