In a latest note to investors, a research analyst has provided a rating update for the Obsidian Energy Ltd (OBE). On November 8, analyst Anthony Petrucci gave a Buy rating to OBE and set a C$1.40 price target.
According to TipRanks.com, Petrucci ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -13.4% and a 25.3% success rate. Petrucci covers the Basic Materials sector, focusing on stocks such as Essential Energy Services Ltd, Crescent Point Energy, and Whitecap Resources.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Obsidian Energy Ltd with a C$1.58 average price target, which is an 113.5% upside from current levels. In a report issued on November 9, TD Securities also maintained a Buy rating on the stock with a C$1.25 price target.
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Obsidian Energy Ltd’s market cap is currently C$370.3M and has a P/E ratio of 0. The company has a Price to Book ratio of 0.19.
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 Tuesday at C$0.74, close to its 52-week low of C$0.72.
