Brokerages Set Obsidian Energy (OBE) Target Price at $2.25
Shares of Obsidian Energy (NYSE:OBE) (TSE:PWT) have been given a consensus recommendation of “Hold” by the ten analysts that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $2.25.
Several analysts have issued reports on the stock. Canaccord Genuity set a $2.00 price target on shares of Obsidian Energy and gave the company a “hold” rating in a research report on Wednesday, August 9th. Zacks Investment Research lowered shares of Obsidian Energy from a “hold” rating to a “sell” rating in a research report on Thursday, October 12th. ValuEngine lowered shares of Obsidian Energy from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Finally, CIBC assumed coverage on shares of Obsidian Energy in a research report on Wednesday, October 18th. They set a “neutral” rating for the company.
Several institutional investors have recently bought and sold shares of OBE. Cubist Systematic Strategies LLC purchased a new stake in shares of Obsidian Energy during the second quarter worth about $106,000. Toronto Dominion Bank purchased a new stake in shares of Obsidian Energy during the second quarter worth about $338,000. BlueCrest Capital Management Ltd purchased a new stake in shares of Obsidian Energy during the second quarter worth about $531,000. Adalta Capital Management LLC purchased a new stake in shares of Obsidian Energy during the second quarter worth about $829,000. Finally, Royal Bank of Canada purchased a new stake in shares of Obsidian Energy during the second quarter worth about $1,219,000. Institutional investors own 16.73% of the company’s stock.
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Obsidian Energy (NYSE OBE) traded up 2.88% during midday trading on Thursday, hitting $1.07. The company had a trading volume of 2,274,422 shares. The firm’s 50 day moving average is $1.04 and its 200-day moving average is $1.20. The firm’s market capitalization is $539.52 million. Obsidian Energy has a 52 week low of $0.82 and a 52 week high of $2.05.
About Obsidian Energy
Obsidian Energy Ltd, formerly Penn West Petroleum Ltd, is a Canada-based conventional oil and natural gas producer and development and production company. The Company operates a portfolio of opportunities with an oil position in the Cardium, Viking and Peace River areas of Alberta. The Alberta Viking area offers a mix of light-oil and gas with high-netback shorter cycle wells to complement longer cycle activities in the Cardium.
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