Obsidian Energy (TSE:OBE) Downgraded to Sector Perform Rating by Royal Bank of Canada

Royal Bank of Canada cut shares of Obsidian Energy (TSE:OBE) from an outperform rating to a sector perform rating in a report issued on Thursday, MarketBeat Ratings reports. They currently have C$10.00 target price on the stock, down from their prior target price of C$12.00.

A number of other research firms also recently commented on OBE. BMO Capital Markets raised their target price on Obsidian Energy from C$12.00 to C$14.00 in a report on Thursday, February 20th. Raymond James downgraded Obsidian Energy from a “strong-buy” rating to a “market perform” rating and dropped their price target for the stock from C$14.00 to C$10.00 in a research report on Wednesday, April 9th.

Obsidian Energy Stock Performance

Shares of Obsidian Energy stock opened at C$6.55 on Thursday. The firm’s fifty day simple moving average is C$7.49 and its 200-day simple moving average is C$7.82. Obsidian Energy has a 12 month low of C$5.67 and a 12 month high of C$12.37. The company has a debt-to-equity ratio of 20.55, a current ratio of 0.45 and a quick ratio of 0.41. The stock has a market capitalization of C$497.84 million, a price-to-earnings ratio of 4.27, a PEG ratio of 0.08 and a beta of 2.30.

Insider Buying and Selling

In other news, Director Gordon Malcolm Ritchie acquired 4,229 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were acquired 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 business’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of C$7.56, for a total value of C$189,000.00. Insiders have bought 5,329 shares of company stock valued at $40,805 in the last quarter. Company insiders own 1.20% of the company’s stock.

Obsidian Energy Company Profile

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.