JPMorgan Chase & Co. Buys 140,425 Shares of Obsidian Energy Ltd $OBE

Key Points

• JPMorgan Chase & Co. increased its stake in Obsidian Energy by 3,092.4% in Q3, buying 140,425 shares to hold 144,966 shares (about 0.20% of the company) valued at roughly $1.03 million.
• Other institutions also boosted holdings—UBS (+460.2% to 491,153 shares), Two Sigma (+90.2% to 450,427 shares) and several others—leaving institutional investors with about 13.51% ownership.
• Analyst sentiment has turned more positive, with Raymond James upgrading to a "moderate buy" and RBC raising its target to $10; OBE trades near $9.05 with a market cap of roughly $610 million.

JPMorgan Chase & Co. increased its stake in shares of Obsidian Energy Ltd (NYSEAMERICAN:OBE - Free Report) TSE: PWT by 3,092.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 144,966 shares of the oil and gas company's stock after buying an additional 140,425 shares during the period. JPMorgan Chase & Co. owned 0.20% of Obsidian Energy worth $1,029,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. UBS Group AG boosted its holdings in Obsidian Energy by 460.2% in the 3rd 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 boosted its holdings in Obsidian Energy by 90.2% in the 3rd 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. Goldman Sachs Group Inc. boosted its holdings in Obsidian Energy by 11.5% in the 1st 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. First Trust Advisors LP boosted its holdings in Obsidian Energy by 38.7% in the 2nd 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. Finally, Qube Research & Technologies Ltd boosted its holdings in Obsidian Energy by 472.6% in the 3rd quarter. Qube Research & Technologies Ltd now owns 57,959 shares of the oil and gas company's stock valued at $379,000 after purchasing an additional 47,837 shares during the period. Institutional investors own 13.51% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on OBE. Royal Bank Of Canada boosted their price objective on shares of Obsidian Energy from $9.00 to $10.00 and gave the company a "sector perform" rating in a report on Friday, February 20th. Raymond James Financial upgraded shares of Obsidian Energy from a "hold" rating to a "moderate buy" rating in a research report on Monday, March 30th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Obsidian Energy presently has an average rating of "Moderate Buy" and an average target price of $10.00.

Obsidian Energy Price Performance

OBE stock opened at $9.05 on Friday. The company has a 50 day simple moving average of $8.33 and a 200 day simple moving average of $6.94. The stock has a market cap of $609.97 million, a price-to-earnings ratio of 27.42 and a beta of -0.10. Obsidian Energy Ltd has a 1 year low of $3.88 and a 1 year high of $9.81. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.54 and a quick ratio of 0.54.

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.

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