Obsidian Energy Ltd (OBE) Given Consensus Rating of “Hold” by Brokerages

Shares of Obsidian Energy Ltd (TSE:OBE) have been given a consensus recommendation of “Hold” by the ten research firms that are currently covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is C$1.85.

A number of research firms recently weighed in on OBE. BMO Capital Markets decreased their price objective on Obsidian Energy from C$1.50 to C$1.25 in a report on Thursday, March 8th. CIBC upgraded Obsidian Energy from an “underperform” rating to a “neutral” rating in a report on Thursday, March 8th. National Bank Financial increased their price objective on Obsidian Energy from C$1.50 to C$2.00 and gave the company a “sector perform” rating in a report on Tuesday, January 9th. Canaccord Genuity increased their price objective on Obsidian Energy from C$1.50 to C$1.80 in a report on Tuesday, November 28th. Finally, Raymond James Financial decreased their price objective on Obsidian Energy from C$2.00 to C$1.75 in a report on Monday, February 5th.

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Obsidian Energy stock traded down C$0.04 during midday trading on Monday, reaching C$1.24. The company had a trading volume of 383,000 shares, compared to its average volume of 659,135. The firm has a market capitalization of $610.25, a P/E ratio of -7.29 and a beta of 4.05. Obsidian Energy has a 1-year low of C$1.03 and a 1-year high of C$2.36.

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Obsidian Energy Company Profile

Obsidian Energy Ltd. explores for, develops, and produces oil and natural gas properties in western Canada. It primarily holds interest in the Cardium Resource Play that covers an area of approximately 400 net sections of developed and undeveloped land located in west central Alberta; Peace River Resource Play covering an area of 235 net sections of developed and undeveloped land located in northwestern Alberta; and Viking Resource Play that covers an area of approximately 170 net sections of developed and undeveloped land located in north-central Alberta.

Analyst Recommendations for Obsidian Energy (TSE:OBE)

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