Obsidian Energy (TSE:OBE) Trading Up 9.4% – Still a Buy?

Obsidian Energy Ltd. (TSE:OBE) shares rose 9.4% during trading on Thursday . The company traded as high as C$8.52 and last traded at C$8.50. Approximately 121,450 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 207,756 shares. The stock had previously closed at C$7.77.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Royal Bank of Canada lowered their price target on shares of Obsidian Energy from C$13.00 to C$12.00 in a report on Tuesday, January 14th. BMO Capital Markets dropped their price target on Obsidian Energy from C$17.00 to C$12.00 in a report on Friday, December 13th.

Obsidian Energy Price Performance

The firm has a market capitalization of C$663.53 million, a price-to-earnings ratio of 5.69, a P/E/G ratio of 0.08 and a beta of 2.30. The company’s 50 day moving average is C$7.87 and its 200 day moving average is C$8.16. The company has a quick ratio of 0.41, a current ratio of 0.45 and a debt-to-equity ratio of 20.55.

About Obsidian Energy

Obsidian Energy Ltd. engages in the exploration, production, and development of oil and natural gas properties in the Western Canada. The company was formerly known as Penn West Petroleum Ltd. and changed its name to Obsidian Energy Ltd. in June 2017. Obsidian Energy Ltd. is headquartered in Calgary, Canada.