Obsidian Energy (TSE:OBE) Price Target Raised to C$19.00 at Raymond James Financial

Key Points

• Raymond James raised its price target on Obsidian Energy from C$14.00 to C$19.00 and kept an "outperform" rating, implying about a 3.26% upside from the current share price.
• Other analysts have also lifted targets but the consensus remains a "Moderate Buy" with an average target of C$13.67, while OBE traded at C$18.40 (near its 12‑month high of C$18.53) and has a market cap of C$1.24B, indicating the stock is already trading above most analyst targets.

Obsidian Energy (TSE:OBE - Get Free Report) had its price target increased by equities research analysts at Raymond James Financial from C$14.00 to C$19.00 in a research report issued on Friday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. Raymond James Financial's target price would suggest a potential upside of 3.26% from the stock's current price.

Several other equities analysts have also recently issued reports on the stock. Royal Bank Of Canada boosted their price objective on shares of Obsidian Energy from C$9.00 to C$10.00 and gave the company a "hold" rating in a research note on Friday, February 20th. BMO Capital Markets boosted their price objective on shares of Obsidian Energy from C$10.00 to C$12.00 and gave the company an "outperform" rating in a research note on Friday, February 20th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Obsidian Energy presently has an average rating of "Moderate Buy" and a consensus price target of C$13.67.

Obsidian Energy Stock Performance

OBE traded up C$0.89 during trading on Friday, hitting C$18.40. The stock had a trading volume of 654,013 shares, compared to its average volume of 400,068. The company has a debt-to-equity ratio of 15.52, a quick ratio of 0.41 and a current ratio of 0.54. The firm has a market capitalization of C$1.24 billion, a P/E ratio of 37.55, a PEG ratio of 0.08 and a beta of -0.34. The company's 50-day moving average price is C$12.24 and its 200 day moving average price is C$9.94. Obsidian Energy has a twelve month low of C$5.35 and a twelve month high of C$18.53.

Obsidian Energy (TSE:OBE - Get Free Report) last announced its quarterly earnings data on Thursday, February 19th. The company reported C($0.18) earnings per share (EPS) for the quarter. The firm had revenue of C$114.80 million during the quarter. Obsidian Energy had a net margin of 5.85% and a return on equity of 2.51%. On average, equities research analysts forecast that Obsidian Energy will post 1.5996205 EPS for the current fiscal year.

Insider Buying and Selling at Obsidian Energy

In other news, insider Gareth Robin Sykes sold 7,850 shares of the company's stock in a transaction on Thursday, March 19th. The shares were sold at an average price of C$12.04, for a total transaction of C$94,514.00. Following the transaction, the insider directly owned 132,244 shares of the company's stock, valued at C$1,592,217.76. This represents a 5.60% decrease in their position. Over the last 90 days, insiders have sold 14,735 shares of company stock worth $178,579. Corporate insiders own 1.20% of the company's stock.

About Obsidian Energy

Obsidian Energy is an intermediate-sized oil and gas producer with a well-balanced portfolio of high-quality assets, primarily in the Peace River, Willesden Green and Viking areas in Alberta. The Company's business is to explore for, develop and hold interests in oil and natural gas properties and related production infrastructure in the Western Canada Sedimentary Basin.

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