Obsidian Energy Ltd (TSE:OBE) rose 6% during trading on Tuesday . The stock traded as high as C$1.65 and last traded at C$1.57. Approximately 2,541,149 shares were traded during trading, an increase of 191% from the average daily volume of 873,214 shares. The stock had previously closed at C$1.67.

OBE has been the topic of several recent research reports. Barclays dropped their price objective on shares of Obsidian Energy from C$2.00 to C$1.50 in a report on Monday, October 30th. Canaccord Genuity increased their price target on shares of Obsidian Energy from C$1.50 to C$1.80 in a report on Tuesday, November 28th. TD Securities increased their price target on shares of Obsidian Energy from C$2.00 to C$2.25 in a report on Monday, November 13th. Raymond James Financial increased their price target on shares of Obsidian Energy from C$1.75 to C$2.00 and gave the stock an “outperform” rating in a report on Monday, November 13th. Finally, AltaCorp Capital raised shares of Obsidian Energy from a “sector perform” rating to an “outperform” rating in a report on Monday, November 13th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of C$2.11.

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About Obsidian Energy

Obsidian Energy Ltd. explores for, develops, and produces oil and natural gas properties in western Canada. It primarily holds interest in the Cardium Resource Play that covers an area of approximately 400 net sections of developed and undeveloped land located in west central Alberta; Peace River Resource Play covering an area of 235 net sections of developed and undeveloped land located in northwestern Alberta; and Viking Resource Play that covers an area of approximately 170 net sections of developed and undeveloped land located in north-central Alberta.

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