Obsidian Energy Ltd (OBE) Receives a Hold from CIBC


In a new note to investors yesterday, an analyst has provided a rating update for Obsidian Energy Ltd (OBE). CIBC’s analyst David Popowich reiterates their Hold rating on the shares, with a C$1.25 price target.

According to TipRanks.com, Popowich has 0 stars on 0-5 star ranking scale with an average return of -5.8% and a 34.4% success rate. Popowich covers the Basic Materials sector, focusing on stocks such as Tamarack Valley Energy Ltd, Birchcliff Energy Ltd, and Baytex Energy Corp.

Obsidian Energy Ltd has an analyst consensus of Moderate Buy, with a price target consensus of C$1.39, an 87.8% upside from current levels. In a report issued on November 8, RBC Capital also reiterated a Hold rating on the stock with a C$1.50 price target.

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Obsidian Energy Ltd’s market cap is currently C$390.6M and has a P/E ratio of 0. The company has a Price to Book ratio of 0.20.

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$0.74, close to its 52-week low of C$0.67.

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