Raymond James Issues Pessimistic Forecast for Obsidian Energy (TSE:OBE) Stock Price

Obsidian Energy (TSE:OBE) had its target price trimmed by Raymond James from C$10.00 to C$9.00 in a research report sent to investors on Thursday morning,BayStreet.CA reports. The firm currently has a market perform rating on the stock.

A number of other analysts also recently commented on OBE. Royal Bank of Canada reduced their price objective on Obsidian Energy from C$10.00 to C$9.00 and set a “sector perform” rating for the company in a research report on Thursday. BMO Capital Markets lifted their price target on shares of Obsidian Energy from C$12.00 to C$14.00 in a research note on Thursday, February 20th.

Obsidian Energy Stock Up 5.6 %

Shares of OBE opened at C$6.37 on Thursday. The company has a debt-to-equity ratio of 20.55, a quick ratio of 0.41 and a current ratio of 0.45. The company has a 50-day simple moving average of C$6.97 and a 200-day simple moving average of C$7.58. Obsidian Energy has a 52 week low of C$5.35 and a 52 week high of C$11.26. The firm has a market capitalization of C$484.15 million, a P/E ratio of 4.15, a P/E/G ratio of 0.08 and a beta of 2.30.

Insider Buying and Selling at Obsidian Energy

In other Obsidian Energy news, Director Gordon Malcolm Ritchie purchased 4,229 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average cost of C$7.94 per share, for a total transaction of C$33,578.26. Also, Senior Officer Mark Kristian Rodger Hawkins sold 25,000 shares of the firm’s stock in a transaction 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. Insiders have purchased 6,329 shares of company stock worth $46,744 over the last three months. Company insiders own 1.20% of the company’s stock.

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.