On March 21, an analyst has provided a rating update for the Materials sector company, Obsidian Energy Ltd (OBE). Analyst Randy Ollenberger from BMO Capital rated Obsidian Energy Ltd (OBE) a Sell on March 21, setting a C$0.40 price target.
According to TipRanks.com, Ollenberger is a 1-star analyst with an average return of -1.4% and a 45.5% success rate. Ollenberger covers the Basic Materials sector, focusing on stocks such as Tamarack Valley Energy Ltd, Athabasca Oil Corporation, and Birchcliff Energy Ltd.
The word on The Street in general, suggests a Moderate Sell analyst consensus rating for Obsidian Energy Ltd with a C$0.63 average price target, implying a 65.8% upside from current levels. In a report issued on March 8, Scotiabank also downgraded the stock to Sell with a C$0.50 price target.
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Obsidian Energy Ltd’s market cap is currently C$192.8M and has a P/E ratio of 0. The company has a Price to Book ratio of 0.10.
Obsidian Energy Ltd. engages the production of oil and gas. It also involves in acquiring, exploring, developing, exploiting, and holding interests in petroleum and natural gas properties and related assets. Its property portfolio includes Cardium, Alberta Viking, Deep Basin, and Peace River.
The company’s shares closed on Monday at C$0.38, close to its 52-week low of C$0.38.
