Obsidian Energy (OBE) Reaches New 52-Week Low at $0.38

Share on StockTwits

Shares of Obsidian Energy Ltd (TSE:OBE) reached a new 52-week low on Monday . The company traded as low as C$0.38 and last traded at C$0.39, with a volume of 573940 shares trading hands. The stock had previously closed at C$0.40.

A number of research firms have commented on OBE. TD Securities downgraded Obsidian Energy from a “buy” rating to a “hold” rating and decreased their target price for the stock from C$0.65 to C$0.50 in a research report on Monday, March 11th. AltaCorp Capital downgraded Obsidian Energy from an “outperform” rating to a “sector perform” rating in a research report on Friday, March 8th. Raymond James downgraded Obsidian Energy from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from C$1.00 to C$0.75 in a research report on Friday, March 8th. National Bank Financial decreased their target price on Obsidian Energy from C$0.65 to C$0.50 and set a “sector perform” rating on the stock in a research report on Friday, March 8th. Finally, Canaccord Genuity downgraded Obsidian Energy from a “speculative buy” rating to a “hold” rating and decreased their target price for the stock from C$0.75 to C$0.40 in a research report on Friday, March 8th. Six investment analysts have rated the stock with a hold rating, Obsidian Energy currently has a consensus rating of “Hold” and a consensus target price of C$0.80.

The firm has a market capitalization of $202.93 million and a price-to-earnings ratio of -0.64. The company has a debt-to-equity ratio of 22.54, a current ratio of 0.40 and a quick ratio of 0.29.

In related news, Director John Brydson purchased 150,000 shares of the business’s stock in a transaction dated Friday, January 18th. The stock was bought at an average cost of C$0.65 per share, with a total value of C$97,396.20. Following the completion of the acquisition, the director now directly owns 2,553,000 shares in the company, valued at approximately C$1,657,683.32.

COPYRIGHT VIOLATION WARNING: This story was first reported by Macon Daily and is the property of of Macon Daily. If you are accessing this story on another website, it was illegally stolen and republished in violation of United States and international copyright & trademark laws. The original version of this story can be viewed at https://macondaily.com/2019/03/25/obsidian-energy-obe-reaches-new-52-week-low-at-0-38.html.

About Obsidian Energy (TSE:OBE)

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.

See Also: How does the Federal Reserve determine interest rates?

Receive News & Ratings for Obsidian Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Obsidian Energy and related companies with MarketBeat.com's FREE daily email newsletter.