Obsidian Energy (TSE:OBE) Trading Up 9.4% Following Analyst Upgrade

Obsidian Energy Ltd. (TSE:OBE) shares rose 9.4% during trading on Thursday after BMO Capital Markets raised their price target on the stock from C$12.00 to C$14.00. The stock traded as high as C$8.52 and last traded at C$8.50. Approximately 121,450 shares changed hands during mid-day trading, a decline of 42% from the average daily volume of 207,756 shares. The stock had previously closed at C$7.77.

Separately, Royal Bank of Canada decreased their price objective on Obsidian Energy from C$13.00 to C$12.00 in a report on Tuesday, January 14th.

Obsidian Energy Stock Down 1.5 %

The company has a current ratio of 0.45, a quick ratio of 0.41 and a debt-to-equity ratio of 20.55. The firm has a 50 day moving average price of C$7.91 and a 200-day moving average price of C$8.15. The firm has a market cap of C$649.85 million, a price-to-earnings ratio of 5.57, a P/E/G ratio of 0.08 and a beta of 2.30.

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.