Obsidian Energy (NYSEAMERICAN:OBE) Stock Price Down 5.5% – Time to Sell?
by Tristan Rich · The Markets DailyObsidian Energy Ltd (NYSEAMERICAN:OBE – Get Free Report) (TSE:PWT) dropped 5.5% during mid-day trading on Tuesday . The stock traded as low as $9.53 and last traded at $9.6050. 484,789 shares were traded during trading, a decline of 43% from the average session volume of 849,854 shares. The stock had previously closed at $10.16.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on OBE. Royal Bank Of Canada upped their price objective on Obsidian Energy from $14.00 to $18.00 and gave the stock a “sector perform” rating in a research note on Monday, May 11th. BMO Capital Markets reiterated 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.
View Our Latest Analysis on OBE
Obsidian Energy Stock Up 5.5%
The stock has a market capitalization of $639.23 million, a PE ratio of 34.15 and a beta of 0.15. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.78 and a quick ratio of 0.78. The business’s fifty day moving average price is $9.70 and its two-hundred day moving average price is $9.56.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of OBE. Arrowstreet Capital Limited Partnership lifted its stake in Obsidian Energy by 137.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,996,167 shares of the oil and gas company’s stock valued at $28,463,000 after buying an additional 1,736,064 shares in the last quarter. Royal Bank of Canada increased its stake in Obsidian Energy by 57.4% during the 4th quarter. Royal Bank of Canada now owns 3,382,597 shares of the oil and gas company’s stock worth $20,734,000 after buying an additional 1,233,804 shares in the last quarter. UBS Group AG raised its holdings in shares of Obsidian Energy by 460.2% during 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 acquiring an additional 403,486 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Obsidian Energy by 87.3% during the first quarter. Bank of America Corp DE now owns 642,321 shares of the oil and gas company’s stock valued at $6,083,000 after acquiring an additional 299,431 shares during the last quarter. Finally, Quadrature Capital Ltd lifted its position in shares of Obsidian Energy by 402.0% in the fourth quarter. Quadrature Capital Ltd now owns 337,858 shares of the oil and gas company’s stock valued at $2,075,000 after acquiring an additional 270,555 shares in the last quarter. 13.51% of the stock is owned by institutional investors and hedge funds.
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.