Obsidian Energy (NYSEAMERICAN:OBE) Stock Price Up 2.8% – What’s Next?

Obsidian Energy Ltd (NYSEAMERICAN:OBE) (TSE:PWT)’s stock price traded up 2.8% on Wednesday . The stock traded as high as $11.52 and last traded at $11.4660. 84,680 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 841,707 shares. The stock had previously closed at $11.15.

Analyst Ratings Changes

Several research analysts have recently commented on OBE shares. Raymond James Financial reissued an “outperform” rating on shares of Obsidian Energy in a report on Wednesday, September 16th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Obsidian Energy in a research note on Tuesday, June 2nd. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Obsidian Energy presently has an average rating of “Moderate Buy” and an average target price of $18.00.

Obsidian Energy Stock Up 0.3%

The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.25. The stock has a 50-day simple moving average of $11.01 and a two-hundred day simple moving average of $10.56. The firm has a market cap of $739.49 million, a PE ratio of 39.86 and a beta of 0.18.

Institutional Investors Weigh In On Obsidian Energy

A number of hedge funds have recently made changes to their positions in OBE. Arrowstreet Capital Limited Partnership grew its stake in shares of Obsidian Energy by 137.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,996,167 shares of the oil and gas company’s stock worth $28,463,000 after purchasing an additional 1,736,064 shares during the last quarter. Royal Bank of Canada lifted its holdings in Obsidian Energy by 31.4% in the 1st quarter. Royal Bank of Canada now owns 4,444,416 shares of the oil and gas company’s stock worth $42,089,000 after buying an additional 1,061,819 shares during the period. Bank of America Corp DE bought a new stake in shares of Obsidian Energy in the 2nd quarter worth approximately $7,777,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Obsidian Energy during the second quarter valued at approximately $4,341,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Obsidian Energy during the second quarter valued at approximately $1,145,000. 13.51% of the stock is currently owned by institutional investors.

About Obsidian Energy

Obsidian Energy Ltd. is a Canadian oil and natural gas exploration and production company. Its activities include the acquisition, development and operation of petroleum and natural gas properties, with a focus on generating production from conventional oil and liquids-rich natural gas assets.

The company’s operations are concentrated in Alberta, Canada, including the Peace River, Cardium and Pembina areas. Its products include crude oil, natural gas liquids and natural gas, which are sold into Canadian and North American energy markets.

Obsidian Energy was formerly known as Penn West Petroleum Ltd.