Obsidian Energy (NYSEAMERICAN:OBE) Hits New 52-Week High - Time to Buy?

Key Points

• New 52-week high: Obsidian Energy shares reached as high as $14.47 and last traded around $14.27 on heavy volume (372,087), up about 1.8% on the session.
• Analyst actions vs. price: Raymond James upgraded the stock to a "Moderate Buy" and RBC lifted its target to $10, while the consensus rating is a Moderate Buy with an average price target of $10—notably below the current share price.
• Technicals and fundamentals: The stock sits well above its 50-day ($9.51) and 200-day ($7.45) moving averages, has a market cap around $963M and low debt-to-equity (0.13) but a weak current ratio (0.54).

Obsidian Energy Ltd (NYSEAMERICAN:OBE - Get Free Report) TSE: PWT shares reached a new 52-week high on Monday . The stock traded as high as $14.47 and last traded at $14.2680, with a volume of 372087 shares traded. The stock had previously closed at $14.20.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on OBE shares. Raymond James Financial raised shares of Obsidian Energy from a "hold" rating to a "moderate buy" rating in a report on Monday, March 30th. Royal Bank Of Canada lifted their target price on Obsidian Energy from $9.00 to $10.00 and gave the stock a "sector perform" rating in a report on Friday, February 20th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $10.00.

Obsidian Energy Trading Up 1.8%

The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $963.18 million, a P/E ratio of 43.82 and a beta of 0.30. The business has a 50 day moving average of $9.51 and a 200-day moving average of $7.45.

Institutional Investors Weigh In On Obsidian Energy

Several institutional investors have recently added to or reduced their stakes in OBE. Quarry LP bought a new position in Obsidian Energy during the 3rd quarter worth about $31,000. Qube Research & Technologies Ltd bought a new stake in shares of Obsidian Energy in the second quarter valued at about $56,000. Marks Group Wealth Management Inc acquired a new position in shares of Obsidian Energy during the fourth quarter worth about $61,000. Caitong International Asset Management Co. Ltd boosted its position in shares of 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 bought a new position in shares of Obsidian Energy during the fourth quarter worth about $77,000. 13.51% of the stock is owned by institutional investors.

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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