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RBC Capital’s Analyst Provides Guidance for This Canadian Energy Company


Obsidian Energy Ltd (OBE), was revisited by a Wall Street analyst yesterday. Analyst Shailender Randhawa from RBC Capital rated Obsidian Energy Ltd (OBE) a Hold, setting a C$1.50 price target.

According to TipRanks.com, Randhawa has 0 stars on 0-5 star ranking scale with an average return of -5.7% and a 36.1% success rate. Randhawa covers the Basic Materials sector, focusing on stocks such as Tamarack Valley Energy Ltd, Freehold Royalties Ltd, and PrairieSky Royalty Ltd.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Obsidian Energy Ltd with a C$1.79 average price target, an 110.6% upside from current levels. In a report issued on October 31, Desjardins also reiterated a Hold rating on the stock with a C$1.75 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$0.85.