Obsidian Energy (NYSEAMERICAN:OBE) Hits New 1-Year High – What’s Next?
by Jessica Moore · The Cerbat GemObsidian Energy Ltd (NYSEAMERICAN:OBE – Get Free Report) (TSE:PWT) shares hit a new 52-week high on Monday . The company traded as high as $14.47 and last traded at $14.2680, with a volume of 372087 shares changing hands. The stock had previously closed at $14.20.
Analysts Set New Price Targets
Several equities research 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 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 stock a “sector perform” rating in a report on Friday, February 20th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $10.00.
View Our Latest Stock Report on Obsidian Energy
Obsidian Energy Price Performance
The stock has a market cap of $857.94 million, a P/E ratio of 39.03 and a beta of 0.30. The company has a 50 day simple moving average of $9.73 and a 200 day simple moving average of $7.56. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.13.
Hedge Funds Weigh In On Obsidian Energy
A number of large investors have recently modified their holdings of OBE. Quarry LP bought a new stake in Obsidian Energy during the third quarter worth about $31,000. Qube Research & Technologies Ltd bought a new position in Obsidian Energy in the second quarter valued at approximately $56,000. Marks Group Wealth Management Inc acquired a new position in shares of Obsidian Energy during the 4th quarter worth approximately $61,000. Caitong International Asset Management Co. Ltd grew its stake in shares of 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 bought a new position in shares of Obsidian Energy in the fourth quarter valued at $77,000. 13.51% of the stock is currently owned by institutional investors and hedge funds.
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.