Spark Investment Management LLC Takes Position in Obsidian Energy Ltd $OBE

Spark Investment Management LLC purchased a new stake in Obsidian Energy Ltd (NYSEAMERICAN:OBE) (TSE:PWT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 97,000 shares of the oil and gas company’s stock, valued at approximately $595,000. Obsidian Energy comprises approximately 1.5% of Spark Investment Management LLC’s portfolio, making the stock its 17th largest holding. Spark Investment Management LLC owned 0.13% of Obsidian Energy as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of OBE. UBS Group AG increased its holdings in Obsidian Energy by 460.2% in the third quarter. UBS Group AG now owns 491,153 shares of the oil and gas company’s stock valued at $3,212,000 after purchasing an additional 403,486 shares during the period. Two Sigma Investments LP increased its holdings in Obsidian Energy by 90.2% in the third quarter. Two Sigma Investments LP now owns 450,427 shares of the oil and gas company’s stock valued at $2,946,000 after purchasing an additional 213,601 shares during the period. JPMorgan Chase & Co. increased its holdings in Obsidian Energy by 3,092.4% in the third quarter. JPMorgan Chase & Co. now owns 144,966 shares of the oil and gas company’s stock valued at $1,029,000 after purchasing an additional 140,425 shares during the period. Goldman Sachs Group Inc. increased its holdings in Obsidian Energy by 11.5% in the first quarter. Goldman Sachs Group Inc. now owns 937,349 shares of the oil and gas company’s stock valued at $5,493,000 after purchasing an additional 96,428 shares during the period. Finally, First Trust Advisors LP increased its holdings in Obsidian Energy by 38.7% in the second quarter. First Trust Advisors LP now owns 344,042 shares of the oil and gas company’s stock valued at $1,909,000 after purchasing an additional 95,932 shares during the period. 13.51% of the stock is currently owned by institutional investors.

Obsidian Energy Stock Performance

Shares of Obsidian Energy stock opened at $11.06 on Monday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.18. The business has a 50-day moving average price of $11.44 and a two-hundred day moving average price of $8.55. Obsidian Energy Ltd has a 1-year low of $5.08 and a 1-year high of $14.59. The company has a market cap of $736.71 million, a P/E ratio of -1,106.00 and a beta of 0.21.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on OBE. BMO Capital Markets restated an “outperform” rating on shares of Obsidian Energy in a report on Tuesday, June 2nd. Royal Bank Of Canada increased their price objective on Obsidian Energy from $14.00 to $18.00 and gave the company a “sector perform” rating in a report on Monday, May 11th. Finally, Raymond James Financial upgraded Obsidian Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, March 30th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Obsidian Energy Company Profile

Obsidian Energy Ltd. explores for, develops, and produces oil and natural gas in western Canada. It holds interests in the Alberta Viking, Cardium, Deep Basin, and Peace River areas. The company was formerly known as Penn West Petroleum Ltd. and changed its name to Obsidian Energy Ltd. in June 2017. Obsidian Energy Ltd. was founded in 1979 and is headquartered in Calgary, Canada.