Obsidian Energy (OBE) PT Lowered to C$2.00 at Raymond James

Obsidian Energy (TSE:OBE) had its target price cut by investment analysts at Raymond James from C$2.25 to C$2.00 in a research note issued on Friday. The firm presently has an “outperform” rating on the stock. Raymond James’ target price indicates a potential upside of 140.96% from the company’s current price.

Several other research analysts have also weighed in on OBE. CIBC raised their price objective on shares of Obsidian Energy from C$1.50 to C$1.75 in a report on Friday, July 20th. National Bank Financial reduced their price target on shares of Obsidian Energy from C$2.25 to C$2.00 and set a “sector perform” rating on the stock in a research report on Friday, August 3rd. BMO Capital Markets reduced their price target on shares of Obsidian Energy from C$1.60 to C$1.35 in a research report on Tuesday, October 9th. Canaccord Genuity reduced their price target on shares of Obsidian Energy from C$1.80 to C$1.40 in a research report on Friday. Finally, Royal Bank of Canada reduced their price target on shares of Obsidian Energy from C$2.00 to C$1.50 and set a “sector perform” rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of C$1.64.

OBE stock traded down C$0.06 during mid-day trading on Friday, hitting C$0.83. 353,337 shares of the company were exchanged, compared to its average volume of 420,986. Obsidian Energy has a twelve month low of C$0.83 and a twelve month high of C$1.85.

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.

Further Reading: Outstanding Shares

Analyst Recommendations for Obsidian Energy (TSE:OBE)

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