Desjardins Keeps a Hold Rating on Obsidian Energy Ltd (OBE)

By Ryan Adsit

In a latest note to investors, a research analyst has provided a rating update for the Materials sector company, Obsidian Energy Ltd (OBEResearch Report). Desjardins’ analyst Chris MacCulloch reiterates their Hold rating on the shares, with a C$0.75 price target.

According to TipRanks.com, MacCulloch has currently no stars on a ranking scale of 0-5 stars, with an average return of -30.4% and a 0.0% success rate. MacCulloch covers the Basic Materials sector, focusing on stocks such as Tamarack Valley Energy Ltd, Athabasca Oil Corporation, and Freehold Royalties Ltd.

Currently, the analyst consensus on Obsidian Energy Ltd is a Moderate Buy with an average price target of C$1.04, which is a 100.0% upside from current levels. In a report issued on January 31, CIBC also reiterated a Hold rating on the stock with a C$1.10 price target.

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Obsidian Energy Ltd’s market cap is currently C$263.8M and has a P/E ratio of 0. The company has a Price to Book ratio of 0.13.

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 Monday at C$0.52, close to its 52-week low of C$0.43.