TipRanksStock Market NewsOBE NewsRaymond James Thinks Obsidian Energy’s Stock is Going to Recover

Raymond James Thinks Obsidian Energy’s Stock is Going to Recover

Raymond James analyst Jeremy Mccrea maintained a Buy rating on Obsidian Energy (OBEResearch Report) today and set a price target of C$16.00. The company’s shares closed last Tuesday at $7.08, close to its 52-week low of $6.69.

According to TipRanks.com, Mccrea is a 5-star analyst with an average return of 21.1% and a 55.1% success rate. Mccrea covers the Utilities sector, focusing on stocks such as Tamarack Valley Energy, Headwater Exploration, and Crescent Point Energy.

Currently, the analyst consensus on Obsidian Energy is a Moderate Buy with an average price target of $11.22.

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Based on Obsidian Energy’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $209 million and net profit of $23.8 million. In comparison, last year the company earned revenue of $95.8 million and had a net profit of $23.2 million.

Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is neutral on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Obsidian Energy Ltd. engages the production of oil and gas. It also involves in acquiring, exploring, developing, exploiting, and holding interests in petroleum and natural gas properties and related assets. Its property portfolio includes Cardium, Alberta Viking, Deep Basin, and Peace River. The company was founded on December 27, 1979 and is headquartered in Calgary, Canada.

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