Obsidian Energy (NYSEAMERICAN:OBE) Shares Down 7.6% - Time to Sell?

Key Points

• Shares down 7.6% intraday, trading as low as $8.55 and last at $9.02 on volume of 855,209 shares (about 12% below the average session volume).
• Raymond James upgraded OBE to a Moderate Buy and RBC raised its target to $10, leaving MarketBeat's consensus rating at Moderate Buy with a $10 consensus target.
• Obsidian has a market cap of about $608 million, a PE of 27.3, low leverage (debt/equity 0.13), 50-/200-day SMAs of $8.27/$6.90, and roughly 13.5% institutional ownership.

Obsidian Energy Ltd (NYSEAMERICAN:OBE - Get Free Report) TSE: PWT's share price traded down 7.6% on Wednesday . The company traded as low as $8.55 and last traded at $9.02. 855,209 shares were traded during mid-day trading, a decline of 12% from the average session volume of 969,909 shares. The stock had previously closed at $9.76.

Analyst Upgrades and Downgrades

OBE has been the topic of a number of research analyst reports. Raymond James Financial upgraded shares of Obsidian Energy from a "hold" rating to a "moderate buy" rating in a research note on Monday, March 30th. Royal Bank Of Canada upped their target price on shares of Obsidian Energy from $9.00 to $10.00 and gave the stock a "sector perform" rating in a research note on Friday, February 20th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $10.00.

Obsidian Energy Trading Down 7.6%

The stock's fifty day simple moving average is $8.27 and its 200-day simple moving average is $6.90. The firm has a market cap of $607.95 million, a PE ratio of 27.33 and a beta of -0.10. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.54 and a quick ratio of 0.54.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OBE. Quarry LP purchased a new position in Obsidian Energy in the third quarter valued at $31,000. Qube Research & Technologies Ltd purchased a new position in Obsidian Energy in the second quarter valued at $56,000. Marks Group Wealth Management Inc purchased a new position in Obsidian Energy in the fourth quarter valued at $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 buying an additional 10,744 shares in the last quarter. Finally, HRT Financial LP purchased a new position in Obsidian Energy in the fourth quarter valued at $77,000. Hedge funds and other institutional investors own 13.51% of the company's stock.

Obsidian Energy Company 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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