Royal Bank Of Canada Increases Obsidian Energy (OBE) Price Target to $1.71
Obsidian Energy (NYSE:OBE) (TSE:PWT) had its price target increased by research analysts at Royal Bank Of Canada from $1.45 to $1.71 in a report released on Monday. The firm currently has a “sector perform” rating on the oil and gas company’s stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 41.32% from the company’s previous close.
A number of other research firms also recently issued reports on OBE. Canaccord Genuity set a $2.00 price target on Obsidian Energy and gave the company a “hold” rating in a research note on Wednesday, August 9th. UBS AG upgraded Obsidian Energy from a “market perform” rating to an “outperform” rating in a research note on Friday. Raymond James Financial, Inc. upgraded Obsidian Energy from a “mkt perform” rating to an “outperform” rating in a research note on Friday. Zacks Investment Research downgraded Obsidian Energy from a “hold” rating to a “sell” rating in a research note on Thursday, October 12th. Finally, ValuEngine downgraded Obsidian Energy from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $2.10.
Shares of Obsidian Energy (NYSE:OBE) opened at $1.21 on Monday. Obsidian Energy has a twelve month low of $0.82 and a twelve month high of $2.05. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.16.
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Large investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC bought a new position in shares of Obsidian Energy during the 2nd quarter valued at approximately $106,000. Toronto Dominion Bank bought a new position in shares of Obsidian Energy during the 2nd quarter valued at approximately $338,000. BlueCrest Capital Management Ltd bought a new position in shares of Obsidian Energy during the 2nd quarter valued at approximately $531,000. Adalta Capital Management LLC bought a new position in shares of Obsidian Energy during the 2nd quarter valued at approximately $829,000. Finally, Royal Bank of Canada bought a new position in shares of Obsidian Energy during the 2nd quarter valued at approximately $1,219,000. Institutional investors own 16.70% of the company’s stock.
Obsidian Energy Company Profile
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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