Obsidian Energy (OBE) Price Target Cut to C$1.40 by Analysts at Canaccord Genuity

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Obsidian Energy (TSE:OBE) had its target price lowered by Canaccord Genuity from C$1.80 to C$1.40 in a research note released on Friday morning.

A number of other equities research analysts have also recently commented on OBE. CIBC increased their price target on shares of Obsidian Energy from C$1.50 to C$1.75 in a report on Friday, July 20th. National Bank Financial cut their price target on shares of Obsidian Energy from C$2.25 to C$2.00 and set a sector perform rating on the stock in a report on Friday, August 3rd. Raymond James cut their price target on shares of Obsidian Energy from C$2.50 to C$2.25 in a report on Friday, October 5th. Finally, BMO Capital Markets cut their price target on shares of Obsidian Energy from C$1.60 to C$1.35 in a report on Tuesday, October 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. Obsidian Energy has an average rating of Hold and a consensus price target of C$1.64.

Shares of TSE:OBE traded down C$0.07 during trading on Friday, reaching C$0.82. 522,800 shares of the stock traded hands, compared to its average volume of 421,769. Obsidian Energy has a 52-week low of C$0.82 and a 52-week high of C$1.85. The company has a current ratio of 0.46, a quick ratio of 0.38 and a debt-to-equity ratio of 20.16.

Obsidian Energy (TSE:OBE) last posted its quarterly earnings results on Thursday, November 8th. The company reported C($0.06) EPS for the quarter. The firm had revenue of C$124.00 million for the quarter. Sell-side analysts expect that Obsidian Energy will post -0.119999997073171 EPS for the current year.

Obsidian Energy Company Profile

Obsidian Energy Ltd. explores for, develops, and produces oil and natural gas in western Canada. The company primarily holds interests in the Cardium development area that covers an area of approximately 450 net sections of developed and undeveloped land located in west central Alberta; Peace River development area covering an area of 235 net sections of developed and undeveloped land located in northwestern Alberta; and Viking development area that covers an area of approximately 170 net sections of developed and undeveloped land located in Eastern Alberta.

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Analyst Recommendations for Obsidian Energy (TSE:OBE)

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