Obsidian Energy (TSE:OBE) Shares Up 9.4% – Here’s Why

Obsidian Energy Ltd. (TSE:OBE)’s stock price traded up 9.4% during trading on Thursday . The stock traded as high as C$8.52 and last traded at C$8.50. 121,450 shares changed hands during mid-day trading, a decline of 42% from the average session volume of 207,756 shares. The stock had previously closed at C$7.77.

Analyst Upgrades and Downgrades

OBE has been the topic of a number of recent analyst reports. Royal Bank of Canada reduced their price target on shares of Obsidian Energy from C$13.00 to C$12.00 in a research report on Tuesday, January 14th. BMO Capital Markets reduced their target price on Obsidian Energy from C$17.00 to C$12.00 in a report on Friday, December 13th.

Obsidian Energy Price Performance

The company has a quick ratio of 0.41, a current ratio of 0.45 and a debt-to-equity ratio of 20.55. The company’s fifty day moving average price is C$7.87 and its two-hundred day moving average price is C$8.16. The company has a market cap of C$663.53 million, a price-to-earnings ratio of 5.69, a PEG ratio of 0.08 and a beta of 2.30.

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.