Stock Traders Buy Large Volume of Obsidian Energy Call Options (NYSEAMERICAN:OBE)

Key Points

• Unusually large options activity occurred on Thursday as investors bought 3,410 call options, roughly a 392% increase versus the average volume of 693 calls.
• Shares climbed 4.7% to $12.98 on above-average volume (894,255 vs. 787,774), with a market cap of about $864M and a 52‑week range of $3.88–$13.40.
• Wall Street’s consensus is a Moderate Buy with an average price target of $10.00; RBC raised its target to $10 and Raymond James upgraded the stock to a “moderate buy.”

Obsidian Energy Ltd (NYSEAMERICAN:OBE - Get Free Report) TSE: PWT saw unusually large options trading on Thursday. Investors bought 3,410 call options on the stock. This represents an increase of approximately 392% compared to the average volume of 693 call options.

Institutional Investors Weigh In On Obsidian Energy

Hedge funds have recently modified their holdings of the business. Quarry LP acquired a new stake in shares of Obsidian Energy during the third quarter worth about $31,000. Marks Group Wealth Management Inc acquired a new stake in shares of Obsidian Energy during the fourth quarter worth about $61,000. Qube Research & Technologies Ltd acquired a new stake in shares of Obsidian Energy during the second quarter worth about $56,000. Caitong International Asset Management Co. Ltd raised 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 purchasing an additional 10,744 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Obsidian Energy during the third quarter worth about $80,000. Institutional investors and hedge funds own 13.51% of the company's stock.

Obsidian Energy Trading Up 4.7%

NYSEAMERICAN:OBE traded up $0.59 during mid-day trading on Thursday, hitting $12.98. The company had a trading volume of 894,255 shares, compared to its average volume of 787,774. Obsidian Energy has a fifty-two week low of $3.88 and a fifty-two week high of $13.40. The business's fifty day moving average is $8.80 and its two-hundred day moving average is $7.15. 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 has a market cap of $864.26 million, a P/E ratio of 39.21 and a beta of -0.10.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Royal Bank Of Canada raised their price target on 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 Obsidian Energy from a "hold" rating to a "moderate buy" rating in a report on Monday, March 30th. One 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, Obsidian Energy has a consensus rating of "Moderate Buy" and an average price target of $10.00.

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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