Obsidian Energy (TSE:OBE) Reaches New 1-Year High Following Analyst Upgrade

Key Points

• Shares hit a new 52-week high after Raymond James upgraded Obsidian Energy from market perform to outperform and raised its price target to C$15, with the stock trading as high as C$13.57 and last at C$13.18 on volume of 394,483.
• Other analysts also lifted targets (BMO to C$12, RBC to C$10), leaving two Buy and one Hold and an average MarketBeat rating of Moderate Buy with an average price target of C$12.33.
• Fundamentals are mixed: market cap ~C$887.1M and a PE of 26.9, but the company reported a quarterly loss of C($0.18) on C$114.8M revenue while analysts forecast roughly 1.60 EPS for the current fiscal year.

Shares of Obsidian Energy Ltd. (TSE:OBE - Get Free Report) hit a new 52-week high on Tuesday after Raymond James Financial upgraded the stock from a market perform rating to an outperform rating. Raymond James Financial now has a C$15.00 price target on the stock, up from their previous price target of C$10.00. Obsidian Energy traded as high as C$13.57 and last traded at C$13.18, with a volume of 394483 shares changing hands. The stock had previously closed at C$12.82.

Other equities research analysts have also recently issued reports about the stock. BMO Capital Markets raised their price objective on shares of Obsidian Energy from C$10.00 to C$12.00 and gave the stock an "outperform" rating in a research report on Friday, February 20th. Royal Bank Of Canada boosted their target price on shares of Obsidian Energy from C$9.00 to C$10.00 and gave the company a "hold" rating in a report on Friday, February 20th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Obsidian Energy currently has an average rating of "Moderate Buy" and an average price target of C$12.33.

Obsidian Energy Trading Up 2.8%

The business has a fifty day moving average price of C$10.84 and a two-hundred day moving average price of C$9.34. The company has a current ratio of 0.54, a quick ratio of 0.41 and a debt-to-equity ratio of 15.52. The firm has a market capitalization of C$887.11 million, a PE ratio of 26.90, a PEG ratio of 0.08 and a beta of 0.19.

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

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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