Obsidian Energy Ltd (TSE:OBE)’s share price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as C$0.38 and last traded at C$0.40, with a volume of 682455 shares changing hands. The stock had previously closed at C$0.41.

Several equities analysts have recently issued reports on OBE shares. Royal Bank of Canada lowered their target price on shares of Obsidian Energy from C$1.50 to C$1.00 in a report on Tuesday, January 8th. TD Securities lowered their target price on shares of Obsidian Energy from C$1.25 to C$1.15 and set a “buy” rating for the company in a report on Monday, November 19th. Canaccord Genuity lowered their target price on shares of Obsidian Energy from C$1.40 to C$1.00 in a report on Thursday, January 10th. Raymond James lowered shares of Obsidian Energy from an “outperform” rating to a “market perform” rating and lowered their target price for the company from C$1.00 to C$0.75 in a report on Friday, March 8th. Finally, National Bank Financial lowered their target price on shares of Obsidian Energy from C$0.80 to C$0.65 and set a “sector perform” rating for the company in a report on Tuesday, February 12th. Six investment analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and a consensus target price of C$0.80.

The firm has a market cap of $202.93 million and a PE ratio of -0.77. The company has a debt-to-equity ratio of 19.90, a quick ratio of 0.32 and a current ratio of 0.39.

In other news, Director John Brydson acquired 150,000 shares of the firm’s stock in a transaction that occurred on Friday, January 18th. The stock was bought at an average cost of C$0.65 per share, for a total transaction of C$97,396.20. Following the acquisition, the director now directly owns 2,553,000 shares in the company, valued at C$1,657,683.32.

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About Obsidian Energy (TSE:OBE)

Obsidian Energy Ltd. explores for, develops, and produces oil and natural gas in western Canada. The company primarily holds interests in the Cardium development area that covers an area of approximately 450 net sections of developed and undeveloped land located in west central Alberta; Peace River development area covering an area of 235 net sections of developed and undeveloped land located in northwestern Alberta; and Viking development area that covers an area of approximately 170 net sections of developed and undeveloped land located in Eastern Alberta.

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