Obsidian Energy (TSE:OBE) Upgraded at Raymond James

Raymond James upgraded shares of Obsidian Energy (TSE:OBE) to a strong-buy rating in a report released on Thursday morning, Zacks.com reports.

Separately, Royal Bank of Canada dropped their target price on Obsidian Energy from C$15.00 to C$13.00 in a report on Tuesday, September 17th.

Obsidian Energy Price Performance

OBE stock opened at C$8.04 on Thursday. The company has a current ratio of 0.49, a quick ratio of 0.41 and a debt-to-equity ratio of 22.94. Obsidian Energy has a one year low of C$7.36 and a one year high of C$12.37. The firm has a market capitalization of C$611.12 million, a PE ratio of 6.14, a P/E/G ratio of 0.08 and a beta of 2.30. The firm has a 50-day moving average of C$8.52 and a two-hundred day moving average of C$9.80.

Obsidian Energy (TSE:OBE) last issued its earnings results on Thursday, August 1st. The company reported C$0.46 earnings per share for the quarter. The company had revenue of C$208.40 million for the quarter. Obsidian Energy had a return on equity of 6.56% and a net margin of 15.81%. On average, analysts forecast that Obsidian Energy will post 1.5996205 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Gordon Malcolm Ritchie acquired 11,000 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were purchased at an average price of C$7.99 per share, for a total transaction of C$87,890.00. In related news, Director Gordon Malcolm Ritchie purchased 11,000 shares of the stock in a transaction on Thursday, September 5th. The shares were bought at an average price of C$7.99 per share, for a total transaction of C$87,890.00. Also, Director Michael Faust purchased 40,200 shares of the stock in a transaction on Tuesday, August 6th. The shares were bought at an average price of C$6.21 per share, for a total transaction of C$249,654.06. 1.20% of the stock is currently owned by corporate insiders.

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.