Obsidian Energy (TSE:OBE) Stock Price Up 9.4% After Analyst Upgrade

Shares of Obsidian Energy Ltd. (TSE:OBE) were up 9.4% on Thursday after BMO Capital Markets raised their price target on the stock from C$12.00 to C$14.00. The stock traded as high as C$8.52 and last traded at C$8.50. Approximately 121,450 shares changed hands during mid-day trading, a decline of 42% from the average daily volume of 207,756 shares. The stock had previously closed at C$7.77.

Separately, Royal Bank of Canada cut their target price on shares of Obsidian Energy from C$13.00 to C$12.00 in a research report on Tuesday, January 14th.

Obsidian Energy Trading Down 1.5 %

The company has a debt-to-equity ratio of 20.55, a quick ratio of 0.41 and a current ratio of 0.45. The stock has a fifty day simple moving average of C$7.91 and a 200 day simple moving average of C$8.15. The firm has a market cap of C$649.85 million, a P/E ratio of 5.57, a price-to-earnings-growth ratio of 0.08 and a beta of 2.30.

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.