Royal Bank of Canada Issues Pessimistic Forecast for Obsidian Energy (TSE:OBE) Stock Price

Obsidian Energy (TSE:OBE) had its target price lowered by investment analysts at Royal Bank of Canada from C$13.00 to C$12.00 in a research note issued on Tuesday,BayStreet.CA reports. Royal Bank of Canada’s target price would indicate a potential upside of 39.21% from the stock’s current price.

Other research analysts have also issued reports about the company. Raymond James raised Obsidian Energy to a “strong-buy” rating in a research report on Thursday, October 17th. BMO Capital Markets cut their price target on shares of Obsidian Energy from C$17.00 to C$12.00 in a research note on Friday, December 13th.

Obsidian Energy Stock Down 0.6 %

Shares of OBE stock traded down C$0.05 on Tuesday, hitting C$8.62. The stock had a trading volume of 96,326 shares, compared to its average volume of 169,604. Obsidian Energy has a one year low of C$7.02 and a one year high of C$12.37. The business has a 50 day moving average price of C$7.97 and a 200 day moving average price of C$8.62. The company has a market cap of C$655.21 million, a PE ratio of 6.58, a P/E/G ratio of 0.08 and a beta of 2.30. The company has a quick ratio of 0.41, a current ratio of 0.49 and a debt-to-equity ratio of 22.94.

Insider Buying and Selling

In related news, Senior Officer Mark Kristian Rodger Hawkins sold 25,075 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of C$8.55, for a total transaction of C$214,391.25. 1.20% of the stock is currently owned by insiders.

About Obsidian Energy

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.