Royal Bank Of Canada Raises Obsidian Energy (TSE:OBE) Price Target to C$9.50

Key Points

• Royal Bank of Canada has raised its price target for Obsidian Energy from C$9.00 to C$9.50, suggesting a potential upside of 1.60% from the current stock price.
• Obsidian Energy's shares traded down to C$9.35 recently, with a twelve-month price range between C$5.35 and C$9.72.
• Insider transactions include a recent sale of 10,214 shares by Director Edward Hume Kernaghan at an average price of C$8.24, with only 1.20% of the stock currently owned by company insiders.

Obsidian Energy (TSE:OBE - Get Free Report) had its price target increased by stock analysts at Royal Bank Of Canada from C$9.00 to C$9.50 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has a "sector perform" rating on the stock. Royal Bank Of Canada's price target would indicate a potential upside of 1.60% from the stock's current price.

Obsidian Energy Price Performance

Shares of TSE:OBE traded down C$0.07 on Tuesday, hitting C$9.35. The stock had a trading volume of 113,618 shares, compared to its average volume of 327,840. Obsidian Energy has a twelve month low of C$5.35 and a twelve month high of C$9.72. The company has a debt-to-equity ratio of 20.55, a quick ratio of 0.41 and a current ratio of 0.45. The firm's 50 day moving average price is C$8.46 and its 200-day moving average price is C$7.61. The company has a market capitalization of C$627.39 million, a price-to-earnings ratio of -3.25, a price-to-earnings-growth ratio of 0.08 and a beta of 0.13.

Insider Transactions at Obsidian Energy

In related news, Director Edward Hume Kernaghan sold 10,214 shares of the company's stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of C$8.24, for a total transaction of C$84,163.36. 1.20% of the stock is currently owned by company insiders.

Obsidian Energy Company Profile

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.

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