Royal Bank of Canada Cuts Obsidian Energy (TSE:OBE) Price Target to C$13.00

Obsidian Energy (TSE:OBE) had its price objective dropped by analysts at Royal Bank of Canada from C$15.00 to C$13.00 in a report issued on Tuesday, BayStreet.CA reports. Royal Bank of Canada’s price objective would suggest a potential upside of 65.18% from the stock’s previous close.

Obsidian Energy Stock Up 0.6 %

Shares of TSE:OBE traded up C$0.05 on Tuesday, reaching C$7.87. The company had a trading volume of 57,581 shares, compared to its average volume of 157,674. Obsidian Energy has a twelve month low of C$7.69 and a twelve month high of C$12.37. The company has a quick ratio of 0.41, a current ratio of 0.49 and a debt-to-equity ratio of 22.94. The stock has a market capitalization of C$598.20 million, a P/E ratio of 6.01, a P/E/G ratio of 0.08 and a beta of 2.35. The stock has a 50-day moving average price of C$9.35 and a 200 day moving average price of C$10.16.

Obsidian Energy (TSE:OBE) last posted its quarterly earnings data on Thursday, August 1st. The company reported C$0.46 earnings per share for the quarter. Obsidian Energy had a return on equity of 6.56% and a net margin of 15.81%. The business had revenue of C$208.40 million during the quarter.

Insider Buying and Selling

In related news, Senior Officer Mark Kristian Rodger Hawkins sold 30,150 shares of the business’s stock in a transaction dated Wednesday, June 19th. The stock was sold at an average price of C$9.76, for a total transaction of C$294,297.17. In other news, Director Gordon Malcolm Ritchie purchased 11,000 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were purchased at an average cost of C$7.99 per share, for a total transaction of C$87,890.00. Also, Senior Officer Mark Kristian Rodger Hawkins sold 30,150 shares of the business’s stock in a transaction dated Wednesday, June 19th. The shares were sold at an average price of C$9.76, for a total value of C$294,297.17. 1.35% of the stock is owned by insiders.

Obsidian Energy Company Profile

Obsidian Energy Ltd. engages in the exploration, production, and development of oil and natural gas properties in the Western Canada. The company was formerly known as Penn West Petroleum Ltd. and changed its name to Obsidian Energy Ltd. in June 2017. Obsidian Energy Ltd. is headquartered in Calgary, Canada.