Obsidian Energy (NYSEAMERICAN:OBE) Sets New 12-Month High - What's Next?

Key Points

• 52-week high: Obsidian Energy shares traded as high as $9.87 mid-day (last $9.8170) on Thursday with ~254,879 shares changing hands, up from a prior close of $9.51.
• Analyst sentiment: Raymond James upgraded the stock to a "Moderate Buy" and RBC raised its target to $10, leaving a consensus target of $10 and an average rating of "Moderate Buy."
• Key fundamentals: the company has a market cap of about $669.4M, a P/E of 30.47, low debt-to-equity (0.13), 50/200-day SMAs of $8.47/$7.00, and ~13.5% institutional ownership with modest recent buying by several funds.

Obsidian Energy Ltd (NYSEAMERICAN:OBE - Get Free Report) TSE: PWT's stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $9.87 and last traded at $9.8170, with a volume of 254879 shares trading hands. The stock had previously closed at $9.51.

Analyst Ratings Changes

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

Obsidian Energy Stock Performance

The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.54 and a current ratio of 0.54. The firm's 50 day simple moving average is $8.47 and its 200-day simple moving average is $7.00. The company has a market cap of $669.43 million, a price-to-earnings ratio of 30.47 and a beta of -0.10.

Institutional Investors Weigh In On Obsidian Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. increased its position in shares of Obsidian Energy by 1.2% during the 3rd quarter. Raymond James Financial Inc. now owns 206,206 shares of the oil and gas company's stock worth $1,349,000 after purchasing an additional 2,397 shares during the last quarter. First Trust Advisors LP increased its position in shares of Obsidian Energy by 0.8% during the 3rd quarter. First Trust Advisors LP now owns 346,860 shares of the oil and gas company's stock worth $2,268,000 after purchasing an additional 2,818 shares during the last quarter. Quarry LP acquired a new stake in shares of Obsidian Energy during the 3rd quarter worth about $31,000. Register Financial Advisors LLC increased its position in shares of Obsidian Energy by 14.0% during the 3rd quarter. Register Financial Advisors LLC now owns 40,700 shares of the oil and gas company's stock worth $266,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Marks Group Wealth Management Inc acquired a new stake in shares of Obsidian Energy during the 4th quarter worth about $61,000. Institutional investors and hedge funds own 13.51% of the company's stock.

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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