Royal Bank of Canada Cuts Obsidian Energy (TSE:OBE) Price Target to C$12.00

Obsidian Energy (TSE:OBE) had its price target cut by Royal Bank of Canada from C$13.00 to C$12.00 in a research report sent to investors on Tuesday,BayStreet.CA reports.

OBE has been the topic of a number of other reports. Raymond James upgraded shares of Obsidian Energy to a “strong-buy” rating in a report on Thursday, October 17th. BMO Capital Markets dropped their price target on Obsidian Energy from C$17.00 to C$12.00 in a research report on Friday, December 13th.

Obsidian Energy Stock Performance

TSE OBE opened at C$8.16 on Tuesday. The stock has a market capitalization of C$620.24 million, a PE ratio of 6.23, a P/E/G ratio of 0.08 and a beta of 2.30. Obsidian Energy has a 1-year low of C$7.02 and a 1-year high of C$12.37. The business has a 50 day simple moving average of C$7.96 and a two-hundred day simple moving average of C$8.60. The company has a debt-to-equity ratio of 22.94, a current ratio of 0.49 and a quick ratio of 0.41.

Insiders Place Their Bets

In other Obsidian Energy news, Senior Officer Mark Kristian Rodger Hawkins sold 25,075 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were 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 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.