Obsidian Energy Ltd (TSE:OBE) Receives Consensus Recommendation of “Hold” from Brokerages

Obsidian Energy Ltd (TSE:OBE) has been given an average recommendation of “Hold” by the nine ratings firms that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is C$1.18.

A number of research analysts recently issued reports on the company. BMO Capital Markets lowered their target price on Obsidian Energy from C$1.50 to C$1.25 and set an “underperform” rating on the stock in a report on Thursday, August 29th. Raymond James reaffirmed an “underperform” rating and set a C$0.25 target price on shares of Obsidian Energy in a report on Tuesday, November 5th. National Bank Financial lowered their target price on Obsidian Energy from C$2.25 to C$1.75 and set a “sector perform” rating on the stock in a report on Wednesday, August 28th. Finally, TD Securities lowered their target price on Obsidian Energy from C$1.20 to C$0.90 and set a “hold” rating on the stock in a report on Tuesday, November 5th.

TSE:OBE traded down C$0.03 during mid-day trading on Thursday, reaching C$0.73. 80,791 shares of the stock were exchanged, compared to its average volume of 81,595. The business has a fifty day moving average price of C$0.88 and a 200 day moving average price of C$1.06. The firm has a market capitalization of $58.40 million and a PE ratio of -0.15. Obsidian Energy has a 1-year low of C$0.67 and a 1-year high of C$5.53. The company has a current ratio of 1.01, a quick ratio of 0.34 and a debt-to-equity ratio of 35.92.

Obsidian Energy (TSE:OBE) last released its earnings results on Monday, November 4th. The company reported C($0.38) earnings per share (EPS) for the quarter. The company had revenue of C$94.00 million during the quarter. On average, sell-side analysts forecast that Obsidian Energy will post -1.7 earnings per share for the current year.

About Obsidian Energy

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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