Obsidian Energy (NYSEAMERICAN:OBE) Trading Down 5% – Here’s What Happened

Obsidian Energy Ltd (NYSEAMERICAN:OBE) (TSE:PWT)’s share price fell 5% during mid-day trading on Monday . The stock traded as low as $11.72 and last traded at $11.6460. Approximately 140,341 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 841,789 shares. The stock had previously closed at $12.26.

Analyst Ratings Changes

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

Obsidian Energy Stock Performance

The stock has a market cap of $737.57 million, a PE ratio of 39.82 and a beta of 0.18. The stock has a fifty day moving average of $11.01 and a 200-day moving average of $10.56. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.25.

Institutional Investors Weigh In On Obsidian Energy

Large investors have recently modified their holdings of the stock. Royal Bank of Canada grew its position 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 valued at $42,089,000 after buying an additional 1,061,819 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Obsidian Energy by 137.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,996,167 shares of the oil and gas company’s stock worth $28,463,000 after buying an additional 1,736,064 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Obsidian Energy by 5.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,369,948 shares of the oil and gas company’s stock worth $12,973,000 after buying an additional 67,919 shares during the last quarter. Bank of America Corp DE acquired a new stake in shares of Obsidian Energy in the 2nd quarter worth $7,777,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Obsidian Energy in the second quarter valued at about $4,341,000. Hedge funds and other institutional investors own 13.51% of the company’s stock.

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.