Arrowstreet Capital Limited Partnership Has $28.46 Million Stock Holdings in Obsidian Energy Ltd $OBE

Key Points

• Arrowstreet Capital increased its Obsidian Energy stake by 137.8% in the first quarter, adding 1.74 million shares to own 2.996 million shares worth approximately $28.46 million, or 4.5% of the company.
• Institutional investors and hedge funds own 13.51% of Obsidian Energy, with several firms initiating or significantly expanding positions during recent quarters.
• Analysts maintain a cautiously positive outlook: OBE has a “Moderate Buy” consensus rating and an $18 average price target, compared with a recent share price of $9.82.

Arrowstreet Capital Limited Partnership lifted its holdings in Obsidian Energy Ltd (NYSEAMERICAN:OBE - Free Report) TSE: PWT by 137.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,996,167 shares of the oil and gas company's stock after buying an additional 1,736,064 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 4.50% of Obsidian Energy worth $28,463,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in OBE. Quarry LP acquired a new stake in shares of Obsidian Energy in the third quarter valued at approximately $31,000. Qube Research & Technologies Ltd acquired a new stake in shares of Obsidian Energy during the second quarter worth $56,000. Marks Group Wealth Management Inc acquired a new stake in shares of Obsidian Energy during the fourth quarter worth $61,000. Caitong International Asset Management Co. Ltd increased its holdings in Obsidian Energy by 1,209.9% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 11,632 shares of the oil and gas company's stock valued at $71,000 after purchasing an additional 10,744 shares during the last quarter. Finally, HRT Financial LP bought a new stake in Obsidian Energy in the fourth quarter valued at about $77,000. Institutional investors and hedge funds own 13.51% of the company's stock.

Obsidian Energy Stock Up 4.4%

NYSEAMERICAN:OBE opened at $9.82 on Thursday. The stock has a 50-day simple moving average of $9.89 and a 200 day simple moving average of $9.43. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.58 and a current ratio of 0.58. The company has a market cap of $655.58 million, a PE ratio of -982.00 and a beta of 0.16. Obsidian Energy Ltd has a 52-week low of $5.44 and a 52-week high of $14.59.

Wall Street Analysts Forecast Growth

OBE has been the subject of several research analyst reports. BMO Capital Markets reissued an "outperform" rating on shares of Obsidian Energy in a report on Tuesday, June 2nd. Royal Bank Of Canada raised 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. Two 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, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $18.00.

Obsidian Energy 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.

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