UBS Group AG Lowers Stock Holdings in Obsidian Energy Ltd $OBE

UBS Group AG lowered its holdings in shares of Obsidian Energy Ltd (NYSEAMERICAN:OBE) (TSE:PWT) by 23.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 378,415 shares of the oil and gas company’s stock after selling 112,738 shares during the period. UBS Group AG’s holdings in Obsidian Energy were worth $2,320,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Quarry LP purchased a new position in Obsidian Energy during the third quarter worth approximately $31,000. Qube Research & Technologies Ltd purchased a new position in Obsidian Energy during the second quarter worth approximately $56,000. Dynamic Technology Lab Private Ltd purchased a new position in Obsidian Energy during the third quarter worth approximately $80,000. Aquatic Capital Management LLC purchased a new position in Obsidian Energy during the third quarter worth approximately $183,000. Finally, PharVision Advisers LLC purchased a new position in shares of Obsidian Energy in the third quarter valued at approximately $187,000. Hedge funds and other institutional investors own 13.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. BMO Capital Markets restated an “outperform” rating on shares of Obsidian Energy in a research report on Friday, May 8th. Raymond James Financial upgraded Obsidian Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, March 30th. Finally, Royal Bank Of Canada raised their target price on Obsidian Energy from $14.00 to $18.00 and gave the company a “sector perform” rating in a research report on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Obsidian Energy has an average rating of “Moderate Buy” and an average price target of $18.00.

Obsidian Energy Stock Performance

NYSEAMERICAN OBE opened at $11.04 on Thursday. The company has a market cap of $735.37 million, a PE ratio of -1,104.00 and a beta of 0.30. The stock’s 50 day simple moving average is $11.04 and its 200-day simple moving average is $8.28. Obsidian Energy Ltd has a 1-year low of $4.77 and a 1-year high of $14.59. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.58 and a quick ratio of 0.58.

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.