Obsidian Energy (TSE:OBE) Cut to "Market Perform" at Raymond James

Raymond James lowered shares of Obsidian Energy (TSE:OBE - Free Report) from a strong-buy rating to a market perform rating in a research note issued to investors on Wednesday, MarketBeat.com reports. The brokerage currently has C$10.00 price target on the stock, down from their prior price target of C$14.00.

A number of other equities analysts also recently issued reports on the stock. BMO Capital Markets lifted their price objective on shares of Obsidian Energy from C$12.00 to C$14.00 in a report on Thursday, February 20th. Royal Bank of Canada cut their target price on Obsidian Energy from C$13.00 to C$12.00 in a research note on Tuesday, January 14th.

Obsidian Energy Stock Up 2.7 %

Shares of OBE traded up C$0.17 on Wednesday, reaching C$6.54. The company's stock had a trading volume of 369,444 shares, compared to its average volume of 321,280. The stock has a market capitalization of C$497.08 million, a PE ratio of 4.26, a PEG ratio of 0.08 and a beta of 2.30. The company has a current ratio of 0.45, a quick ratio of 0.41 and a debt-to-equity ratio of 20.55. Obsidian Energy has a twelve month low of C$5.67 and a twelve month high of C$12.37. The firm has a fifty day moving average of C$7.59 and a 200-day moving average of C$7.86.

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, for a total transaction of C$33,578.26. Also, Senior Officer Mark Kristian Rodger Hawkins sold 25,000 shares of the 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. In the last ninety days, insiders have purchased 5,329 shares of company stock valued at $40,805. 1.20% of the stock is owned by insiders.

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.