BMO Capital Markets on Tuesday reiterated its outperform rating on the shares of Obsidian Energy (OBE.TO, OBE) with a C$10.00 price target after the oil and gas producer released second-half guidance.

"Obsidian has strategically refined its portfolio over the last few years, focusing more on the high-performing Bluesky and Clearwater formations. Despite limited investor attention, its top-quartile assets, low debt, and robust growth potential position it for future recognition. With the company announcing it has officially started the first injector wells in its Clearwater and Bluesky plays, the company looks to be following in line with other successful operators in the region. Overall, as one of few companies to complete their NCIB, there is plenty to like for this off-the-radar name," analyst Jeremy McCrea wrote.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 8.28, Change: +0.19, Percent Change: +2.35