Royal Bank of Canada Trims Obsidian Energy (TSE:OBE) Target Price to C$13.00

Obsidian Energy (TSE:OBE) had its target price cut by Royal Bank of Canada from C$15.00 to C$13.00 in a research report released on Tuesday, BayStreet.CA reports.

Obsidian Energy Price Performance

Obsidian Energy has a 1-year low of C$7.69 and a 1-year high of C$12.37. The company has a debt-to-equity ratio of 22.94, a current ratio of 0.49 and a quick ratio of 0.41. The firm has a market cap of C$600.48 million, a price-to-earnings ratio of 6.06, a P/E/G ratio of 0.08 and a beta of 2.35. The business has a 50 day moving average price of C$9.26 and a two-hundred day moving average price of C$10.14.

Obsidian Energy (TSE:OBE) last released its earnings results on Thursday, August 1st. The company reported C$0.46 earnings per share for the quarter. The company had revenue of C$208.40 million during the quarter. Obsidian Energy had a net margin of 15.81% and a return on equity of 6.56%.

Insider Transactions at Obsidian Energy

In related news, Director Gordon Malcolm Ritchie bought 11,000 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was bought at an average price of C$7.99 per share, with a total value of C$87,890.00. In other Obsidian Energy news, Director Gordon Malcolm Ritchie acquired 11,000 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was acquired at an average price of C$7.99 per share, with a total value of C$87,890.00. Also, Director Michael Faust acquired 40,200 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average cost of C$6.21 per share, with a total value of C$249,654.06. Insiders own 1.35% of the company’s stock.

About Obsidian Energy

Obsidian Energy Ltd. engages in the exploration, production, and development of oil and natural gas properties in the Western Canada. The company was formerly known as Penn West Petroleum Ltd. and changed its name to Obsidian Energy Ltd. in June 2017. Obsidian Energy Ltd. is headquartered in Calgary, Canada.