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AltaCorp Captial Remains a Buy on Obsidian Energy Ltd (OBE)


Wall Street analyst has provided a review for the NA company on October 9, but retained the same rating on the stock. AltaCorp Captial’s analyst Thomas Matthews reiterates their Buy rating on the shares of Obsidian Energy Ltd (TSX: OBE), with a C$2.25 price target.

According to TipRanks.com, Matthews is ranked #678 out of 4897 analysts.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Obsidian Energy Ltd with a C$1.90 average price target, a 69.6% upside from current levels. In a report issued on October 5, Raymond James also maintained a Buy rating on the stock with a C$2.25 price target.

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Obsidian Energy Ltd’s market cap is currently C$588.3M and has a P/E ratio of 0. The company has a Price to Book ratio of 0.28.

Obsidian Energy Ltd. engages the production of oil and gas. I also involves in acquiring, exploring, developing, exploiting, and holding interests in petroleum and natural gas properties and related assets. Its portfolio of properties includes Cardium, Alberta Viking, Deep Basin, and Peace River.

The company’s shares closed on Thursday at C$1.12, close to its 52-week low of C$1.06.