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

Obsidian Energy Ltd. (TSE:OBE)’s stock price was up 9.4% during mid-day trading on Thursday after BMO Capital Markets raised their price target on the stock from C$12.00 to C$14.00. The company traded as high as C$8.52 and last traded at C$8.50. Approximately 121,450 shares traded 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 decreased 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 Stock 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’s 50-day moving average price is C$7.91 and its two-hundred day moving average price is C$8.15. The stock has a market capitalization of C$649.85 million, a PE ratio of 5.57, a P/E/G 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.