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BMO Capital Reaffirms Their Sell Rating on Obsidian Energy Ltd (OBE)


Obsidian Energy Ltd (OBE), was revisited yesterday, and remains overvalued for at least one analyst on the street. BMO Capital’s analyst Ray Kwan reiterates their Sell rating on the shares, with a C$1 price target.

According to TipRanks.com, Kwan is ranked 0 out of 5 stars with an average return of -8.5% and a 33.8% success rate. Kwan covers the Basic Materials sector, focusing on stocks such as Crescent Point Energy, Baytex Energy Corp, and NuVista Energy Ltd.

Obsidian Energy Ltd has an analyst consensus of Moderate Buy, with a price target consensus of C$1.85.

The company has a one-year high of C$1.85 and a one-year low of C$0.88. Currently, Obsidian Energy Ltd has an average volume of 217.2K.

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$0.89, close to its 52-week low of C$0.88.