Yesterday, an analyst has provided a rating update for the Materials sector company, Obsidian Energy Ltd (OBE). CIBC’s analyst David Popowich reiterates their Hold rating on the shares, with a C$1 price target.
According to TipRanks.com, Popowich is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -8.4% and a 31.5% success rate. Popowich covers the Basic Materials sector, focusing on stocks such as Tamarack Valley Energy Ltd, Birchcliff Energy Ltd, and Obsidian Energy Ltd.
Obsidian Energy Ltd has an analyst consensus of Moderate Buy, with a price target consensus of C$1.03, representing a 106.0% upside. In a report issued on February 7, Desjardins also reiterated a Hold rating on the stock with a C$0.75 price target.
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Based on Obsidian Energy Ltd’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of C$112 million and GAAP net loss of C$31 million. In comparison, last year the company earned revenue of C$111 million and had a GAAP net loss of C$58 million.
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$0.50, close to its 52-week low of C$0.43.
