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.

COPYRIGHT VIOLATION WARNING: “Royal Bank Of Canada Increases Obsidian Energy (OBE) Price Target to $1.71” was first published by Watch List News and is the sole property of of Watch List News. If you are reading this piece of content on another website, it was stolen and reposted in violation of U.S. & international trademark & copyright legislation. The legal version of this piece of content can be read at https://www.watchlistnews.com/royal-bank-of-canada-increases-obsidian-energy-obe-price-target-to-1-71/1699684.html.

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.

Analyst Recommendations for Obsidian Energy (NYSE:OBE)

Receive News & Ratings for Obsidian Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Obsidian Energy and related companies with Analyst Ratings Network's FREE daily email newsletter.