Obsidian Energy (OBE) Stock Rating Upgraded by Canaccord Genuity

Obsidian Energy (TSE:OBE) was upgraded by research analysts at Canaccord Genuity from a “hold” rating to a “speculative buy” rating in a research report issued on Tuesday.

Several other equities analysts have also recently commented on OBE. BMO Capital Markets reaffirmed an “underperform” rating and issued a C$1.50 price target on shares of Obsidian Energy in a report on Monday, November 13th. Raymond James Financial increased their target price on Obsidian Energy from C$1.75 to C$2.00 and gave the stock an “outperform” rating in a report on Monday, November 13th. Scotiabank increased their target price on Obsidian Energy from C$1.75 to C$2.00 and gave the stock a “sector perform” rating in a report on Monday, November 13th. Barclays increased their target price on Obsidian Energy from C$1.50 to C$2.00 in a report on Monday, November 13th. Finally, TD Securities increased their target price on Obsidian Energy from C$2.00 to C$2.25 in a report on Monday, November 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of C$1.88.

Obsidian Energy (TSE OBE) traded up C$0.01 during trading on Tuesday, reaching C$1.17. The company’s stock had a trading volume of 519,704 shares, compared to its average volume of 731,442. The firm has a market cap of $585.04, a PE ratio of -2.29 and a beta of 4.19. Obsidian Energy has a 12-month low of C$1.03 and a 12-month high of C$2.36.

Obsidian Energy (TSE:OBE) last posted its quarterly earnings results on Friday, November 10th. The company reported C($0.09) EPS for the quarter, missing the consensus estimate of C($0.06) by C($0.03). Obsidian Energy had a negative net margin of 51.16% and a negative return on equity of 7.86%.

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Obsidian Energy Company Profile

Obsidian Energy Ltd. explores for, develops, and produces oil and natural gas properties in western Canada. It primarily holds interest in the Cardium Resource Play that covers an area of approximately 400 net sections of developed and undeveloped land located in west central Alberta; Peace River Resource Play covering an area of 235 net sections of developed and undeveloped land located in northwestern Alberta; and Viking Resource Play that covers an area of approximately 170 net sections of developed and undeveloped land located in north-central Alberta.

Analyst Recommendations for Obsidian Energy (TSE:OBE)

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