Today, an analyst has provided a rating update for Obsidian Energy Ltd (OBE). Raymond James’ analyst Jeremy Mccrea reiterates their Buy rating on the shares, with a C$2 price target.
According to TipRanks.com, Mccrea ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -8.3% and a 27.6% success rate. Mccrea covers the Basic Materials sector, focusing on stocks such as Bellatrix Exploration, Baytex Energy Corp, and Surge Energy.
Currently, the analyst consensus on Obsidian Energy Ltd is a Moderate Buy with an average price target of C$1.63, a 98.8% upside from current levels. In a report released today, TD Securities also maintained a Buy rating on the stock with a C$1.25 price target.
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Based on Obsidian Energy Ltd’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of C$111 million and GAAP net loss of C$96 million. In comparison, last year the company earned revenue of C$86 million and had a GAAP net loss of C$44 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 Friday at C$0.82.
