In a new note to investors today, an analyst has provided a rating update for the Materials sector company, Obsidian Energy Ltd (OBE). Analyst Jeremy Mccrea from Raymond James rated Obsidian Energy Ltd (OBE) a Hold, setting a C$0.50 price target.
According to TipRanks.com, Mccrea has 0 stars on 0-5 star ranking scale with an average return of -6.8% and a 33.3% success rate. Mccrea covers the Basic Materials sector, focusing on stocks such as Painted Pony Petroleum Ltd, Tamarack Valley Energy Ltd, and Freehold Royalties Ltd.
The word on The Street in general, suggests a Moderate Sell analyst consensus rating for Obsidian Energy Ltd with a C$0.49 average price target.
Based on Obsidian Energy Ltd’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of C$95 million and GAAP net loss of C$54 million. In comparison, last year the company earned revenue of C$109 million and had a GAAP net loss of C$65 million.
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 Tuesday at C$0.38, close to its 52-week low of C$0.35.
