BMO Capital Markets Upgrades Obsidian Energy (TSE:OBE) to “Market Perform”

Obsidian Energy (TSE:OBE – Get Rating) was upgraded from an underperform rating to a market perform rating by investment analysts at BMO Capital Markets in a report published Monday, reports BayStreet.CA. The brokerage firm currently has a price target of $14.00 for the stock, down from a previous price target of $10.00. BMO Capital Markets’ price target would indicate a potential upside of 24.56% from the stock’s current price.

Several other equity analysts also recently commented on the stock. In a research note on Wednesday, August 3, Stifel Nicolaus lowered the price target for shares of Obsidian Energy to CAD19.00 from CAD19.50. Raymond James raised his target price on Obsidian Energy shares to $16.00 from $15.50 and gave the company an Outperform rating in a report on Tuesday, July 5.

Obsidian energy price development

OBE shares rose C$0.30 during Monday trading to hit C$11.24. 164,479 shares of hands traded, compared to its average volume of 530,332. The stock has a market cap of $923.38 million and a price-to-earnings ratio of 4.70. Obsidian Energy has a yearly low of $3.56 and a yearly high of $15.67. The company has a current ratio of 0.27, a quick ratio of 0.24 and a debt to equity ratio of 37.83. The company has a 50-day simple moving average of $10.80 and a 200-day simple moving average of $10.89.

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Obsidian Energy (TSE:OBE – Get Rating) last announced its earnings results on Thursday, July 28th. The company reported $1.35 per share for the quarter. The company had revenue of $276.50 million for the quarter. Equity analysts expect Obsidian Energy to post 4,8099996 EPS for the current fiscal year.

Insider buying and selling

In other Obsidian Energy news, Director Stephen Loukas acquired 3,000 shares of Obsidian Energy in a transaction that took place on Friday, September 9th. The stock was purchased at an average price of $10.53 per share for a total transaction of $31,579.20. Upon completion of the acquisition, the Director now owns 807,310 shares of the Company, valued at approximately $8,498,067.98. In related news, Director Stephen Loukas acquired 3,000 shares of the company in a transaction that took place on Friday September 9th. The shares were purchased at an average price of $10.53 per share for a total transaction of $31,579.20. Following the purchase, the Director now owns 807,310 shares of the Company, valued at $8,498,067.98. Also, Senior Officer Mark Kristian Rodger Hawkins sold 25,075 shares of the company’s stock in a transaction that took place on Friday, August 5th. The stock sold at an average price of $10.57 for a total value of $265,062.81. Following the sale, the insider now owns 40,547 shares of the company’s stock valued at approximately $428,614.23. Over the past three months, insiders have bought 10,000 shares of the company’s stock, valued at $110,114.

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About obsidian energy

(received rating)

Obsidian Energy Ltd. is primarily focused on the exploration, production and development of oil and natural gas properties in the sedimentary basin of 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.

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Further reading

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