Obsidian Energy (TSE:OBE) Reaches New 12-Month Low Following Analyst Downgrade

Obsidian Energy Ltd. (TSE:OBE)’s stock price reached a new 52-week low during mid-day trading on Monday after BMO Capital Markets lowered their price target on the stock from C$17.00 to C$12.00. The company traded as low as C$7.32 and last traded at C$7.34, with a volume of 120809 shares trading hands. The stock had previously closed at C$7.66.

A number of other research analysts have also issued reports on OBE. Royal Bank of Canada decreased their target price on Obsidian Energy from C$15.00 to C$13.00 in a report on Tuesday, September 17th. Raymond James upgraded Obsidian Energy to a “strong-buy” rating in a report on Thursday, October 17th.

Insider Buying and Selling at Obsidian Energy

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

Obsidian Energy Stock Performance

The company has a debt-to-equity ratio of 22.94, a current ratio of 0.49 and a quick ratio of 0.41. The company has a market capitalization of C$556.39 million, a price-to-earnings ratio of 5.59, a PEG ratio of 0.08 and a beta of 2.30. The stock has a 50 day simple moving average of C$8.01 and a two-hundred day simple moving average of C$8.89.

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.