Connor Clark & Lunn Investment Management Ltd. Takes $4.34 Million Position in Obsidian Energy Ltd $OBE

Key Points

• Connor Clark & Lunn Investment Management acquired 530,794 Obsidian Energy shares worth approximately $4.34 million, representing about 0.80% of the company. Institutional investors collectively own 13.51% of the stock.
• Analysts maintain a generally positive outlook, with two Buy ratings and one Hold rating. Obsidian Energy has a consensus rating of “Moderate Buy” and an average price target of $18.00.
• Obsidian Energy shares opened at $11.81, compared with a 52-week range of $5.44 to $14.59; the company has a market capitalization of about $788 million.

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Obsidian Energy Ltd (NYSEAMERICAN:OBE - Free Report) TSE: PWT during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 530,794 shares of the oil and gas company's stock, valued at approximately $4,341,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.80% of Obsidian Energy at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of OBE. Quarry LP bought a new stake in Obsidian Energy during the 3rd quarter valued at $31,000. Qube Research & Technologies Ltd bought a new position in shares of Obsidian Energy in the second quarter worth $56,000. Marks Group Wealth Management Inc bought a new position in shares of Obsidian Energy in the fourth quarter worth $61,000. Caitong International Asset Management Co. Ltd grew its position in shares of 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 in the last quarter. Finally, HRT Financial LP purchased a new position in shares of Obsidian Energy in the fourth quarter valued at $77,000. 13.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Royal Bank Of Canada increased their price objective on Obsidian Energy from $14.00 to $18.00 and gave the stock a "sector perform" rating in a report on Monday, May 11th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Obsidian Energy in a report on Tuesday, June 2nd. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Obsidian Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.00.

Obsidian Energy Stock Performance

NYSEAMERICAN OBE opened at $11.81 on Friday. Obsidian Energy Ltd has a 1 year low of $5.44 and a 1 year high of $14.59. 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 stock has a market capitalization of $788.44 million, a PE ratio of 42.18 and a beta of 0.15. The company's 50 day simple moving average is $9.72 and its two-hundred day simple moving average is $10.01.

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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