Obsidian Energy (TSE:OBE) Cut to Market Perform at Raymond James

Obsidian Energy (TSE:OBE) was downgraded by equities research analysts at Raymond James from a “strong-buy” rating to a “market perform” rating in a report issued on Wednesday,BayStreet.CA reports. They presently have a C$10.00 price objective on the stock, down from their prior price objective of C$14.00. Raymond James’ price target would indicate a potential upside of 56.49% from the company’s previous close.

OBE has been the topic of several other research reports. Royal Bank of Canada cut their price target on Obsidian Energy from C$13.00 to C$12.00 in a report on Tuesday, January 14th. BMO Capital Markets raised their target price on shares of Obsidian Energy from C$12.00 to C$14.00 in a report on Thursday, February 20th.

Obsidian Energy Stock Up 8.9 %

OBE stock traded up C$0.52 during midday trading on Wednesday, hitting C$6.39. The company’s stock had a trading volume of 526,465 shares, compared to its average volume of 307,991. The firm has a 50-day simple moving average of C$7.68 and a 200-day simple moving average of C$7.89. The firm has a market capitalization of C$485.67 million, a P/E ratio of 4.16, a PEG ratio of 0.08 and a beta of 2.30. The company has a quick ratio of 0.41, a current ratio of 0.45 and a debt-to-equity ratio of 20.55. Obsidian Energy has a 52-week low of C$5.67 and a 52-week high of C$12.37.

Insider Buying and Selling

In other news, Director Gordon Malcolm Ritchie purchased 4,229 shares of the stock in a transaction dated Thursday, February 27th. The stock was acquired at an average cost of C$7.94 per share, for a total transaction of C$33,578.26. Also, Senior Officer Mark Kristian Rodger Hawkins sold 25,000 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of C$7.56, for a total transaction of C$189,000.00. Insiders have bought 5,329 shares of company stock worth $40,805 in the last quarter. 1.20% of the stock is owned by insiders.

About Obsidian Energy

Obsidian Energy Ltd, is an intermediate-sized oil and gas producer with strategic assets in Alberta. It operates in a single reporting segment that is exploration, development and holding an interest in oil and natural gas properties and related production infrastructure in the Western Canada Sedimentary Basin.