Bank of America Corp DE Raises Holdings in Obsidian Energy Ltd $OBE

Bank of America Corp DE grew its stake in Obsidian Energy Ltd (NYSEAMERICAN:OBE) (TSE:PWT) by 87.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 642,321 shares of the oil and gas company’s stock after acquiring an additional 299,431 shares during the period. Bank of America Corp DE’s holdings in Obsidian Energy were worth $6,083,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of OBE. Quarry LP purchased a new stake in shares of Obsidian Energy in the 3rd quarter valued at approximately $31,000. Qube Research & Technologies Ltd purchased a new stake in Obsidian Energy in the 2nd quarter valued at approximately $56,000. Marks Group Wealth Management Inc acquired a new position in Obsidian Energy during the fourth quarter worth $61,000. Caitong International Asset Management Co. Ltd grew its position in Obsidian Energy by 1,209.9% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 11,632 shares of the oil and gas company’s stock worth $71,000 after buying an additional 10,744 shares during the period. Finally, HRT Financial LP acquired a new stake in shares of Obsidian Energy during the 4th quarter valued at approximately $77,000. 13.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Royal Bank Of Canada upped their price objective on Obsidian Energy from $14.00 to $18.00 and gave the company a “sector perform” rating in a research report on Monday, May 11th. BMO Capital Markets restated 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 assigned a Hold rating to the company’s stock. According to data from MarketBeat, Obsidian Energy currently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Obsidian Energy Price Performance

Shares of NYSEAMERICAN OBE opened at $11.03 on Thursday. Obsidian Energy Ltd has a fifty-two week low of $5.44 and a fifty-two week high of $14.59. The stock has a market cap of $736.36 million, a P/E ratio of 39.39 and a beta of 0.15. The firm’s 50-day simple moving average is $9.67 and its 200 day simple moving average is $9.98. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.25.

About Obsidian Energy

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.