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

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

Other analysts have also issued research reports about the stock. BMO Capital Markets reduced their price target on shares of Obsidian Energy from C$17.00 to C$12.00 in a research report on Friday, December 13th. Raymond James raised shares of Obsidian Energy to a “strong-buy” rating in a research report on Thursday, October 17th.

Obsidian Energy Stock Down 2.3 %

TSE OBE opened at C$8.16 on Tuesday. The company has a market cap of C$620.24 million, a P/E ratio of 6.23, a P/E/G ratio of 0.08 and a beta of 2.30. Obsidian Energy has a one year low of C$7.02 and a one year high of C$12.37. The business has a fifty day moving average price of C$7.96 and a 200 day moving average price of C$8.60. The company has a debt-to-equity ratio of 22.94, a quick ratio of 0.41 and a current ratio of 0.49.

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 that occurred on Wednesday, November 6th. The shares were sold at an average price of C$8.55, for a total transaction of C$214,391.25. 1.20% of the stock is currently owned by company 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.