The Materials sector company, Obsidian Energy Ltd (OBE), has received a rating update from a Wall Street analyst on March 8. On March 8, analyst Thomas Matthews gave a Hold rating to OBE and set a C$0.70 price target.
According to TipRanks.com, Matthews is a 1-star analyst with an average return of -2.1% and a 36.2% success rate. Matthews covers the Basic Materials sector, focusing on stocks such as Crescent Point Energy, Bellatrix Exploration, and Obsidian Energy Ltd.
Currently, the analyst consensus on Obsidian Energy Ltd is a Moderate Sell with an average price target of C$0.65, which is a 62.5% upside from current levels. In a report issued on March 7, Canaccord Genuity also downgraded the stock to Hold with a C$0.40 price target.
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The company has a one-year high of C$1.59 and a one-year low of C$0.38. Currently, Obsidian Energy Ltd has an average volume of 386.3K.
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 Monday at C$0.40, close to its 52-week low of C$0.38.
