Obsidian Energy Ltd (TSE:OBE) dropped 11.9% on Wednesday . The stock traded as low as C$1.70 and last traded at C$1.70. Approximately 141,692 shares were traded during trading, an increase of 64% from the average daily volume of 86,456 shares. The stock had previously closed at C$1.93.

A number of research firms have recently commented on OBE. TD Securities cut their target price on Obsidian Energy from C$0.95 to C$0.65 and set a “buy” rating on the stock in a research note on Tuesday, February 12th. Raymond James cut Obsidian Energy from an “outperform” rating to a “market perform” rating and cut their target price for the company from C$1.00 to C$0.75 in a research note on Friday, March 8th. Canaccord Genuity cut Obsidian Energy from a “speculative buy” rating to a “hold” rating and cut their target price for the company from C$0.75 to C$0.40 in a research note on Friday, March 8th. AltaCorp Capital cut Obsidian Energy from an “outperform” rating to a “sector perform” rating in a research note on Friday, March 8th. Finally, National Bank Financial cut their target price on Obsidian Energy from C$0.80 to C$0.65 and set a “sector perform” rating on the stock in a research note on Tuesday, February 12th. Six research analysts have rated the stock with a hold rating, Obsidian Energy currently has a consensus rating of “Hold” and an average target price of C$0.77.

The company has a market capitalization of $148.15 million and a PE ratio of -2.93. The company has a debt-to-equity ratio of 32.33, a current ratio of 0.46 and a quick ratio of 0.40.

Obsidian Energy (TSE:OBE) last announced its quarterly earnings data on Friday, May 10th. The company reported C($0.11) earnings per share (EPS) for the quarter. The company had revenue of C$103.00 million during the quarter. On average, equities analysts anticipate that Obsidian Energy Ltd will post -0.21 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Obsidian Energy (TSE:OBE) Trading Down 11.9%” was first posted by Marea Informative and is the sole property of of Marea Informative. If you are reading this article on another publication, it was illegally copied and reposted in violation of US & international trademark and copyright legislation. The legal version of this article can be viewed at https://www.mareainformativa.com/news/2019/06/12/obsidian-energy-tseobe-trading-down-11-9.html.

Obsidian Energy Company Profile (TSE:OBE)

Obsidian Energy Ltd. explores for, develops, and produces oil and natural gas in western Canada. It holds interests in the Alberta Viking, Cardium, Deep Basin, and Peace River areas. The company was formerly known as Penn West Petroleum Ltd. and changed its name to Obsidian Energy Ltd. in June 2017. Obsidian Energy Ltd.

Read More: Trading Options- What is a Strangle?

Receive News & Ratings for Obsidian Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Obsidian Energy and related companies with MarketBeat.com's FREE daily email newsletter.