Obsidian Energy (TSE:OBE) posted its quarterly earnings results on Thursday. The company reported C($0.06) EPS for the quarter, reports. The company had revenue of C$124.00 million during the quarter.
Shares of TSE:OBE traded down C$0.07 during trading on Friday, reaching C$0.82. 522,800 shares of the stock were exchanged, compared to its average volume of 421,769. Obsidian Energy has a 12 month low of C$0.82 and a 12 month high of C$1.85. The company has a debt-to-equity ratio of 20.16, a quick ratio of 0.38 and a current ratio of 0.46.
A number of equities research analysts have recently issued reports on OBE shares. Raymond James reduced their price objective on Obsidian Energy from C$2.50 to C$2.25 in a report on Friday, October 5th. BMO Capital Markets reduced their price objective on Obsidian Energy from C$1.60 to C$1.35 in a report on Tuesday, October 9th. National Bank Financial reduced their price objective on Obsidian Energy from C$2.25 to C$2.00 and set a “sector perform” rating for the company in a report on Friday, August 3rd. Canaccord Genuity reduced their price objective on Obsidian Energy from C$1.80 to C$1.40 in a report on Friday. Finally, CIBC boosted their price objective on Obsidian Energy from C$1.50 to C$1.75 in a report on Friday, July 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of C$1.64.
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About Obsidian Energy
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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