Obsidian Energy (NYSEAMERICAN:OBE) Shares Cross Above 200-Day Moving Average – Should You Sell?

Obsidian Energy Ltd (NYSEAMERICAN:OBE) (TSE:PWT)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $8.52 and traded as high as $12.32. Obsidian Energy shares last traded at $12.13, with a volume of 579,749 shares.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on OBE shares. Royal Bank Of Canada upped their price objective on shares of Obsidian Energy from $14.00 to $18.00 and gave the stock a “sector perform” rating in a research note on Monday, May 11th. Raymond James Financial raised shares of Obsidian Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, March 30th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Obsidian Energy in a report on Tuesday. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Obsidian Energy has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

Obsidian Energy Trading Down 8.8%

The company has a debt-to-equity ratio of 0.18, a current ratio of 0.58 and a quick ratio of 0.58. The stock has a market cap of $736.71 million, a price-to-earnings ratio of -1,106.00 and a beta of 0.20. The company’s fifty day moving average price is $11.44 and its 200-day moving average price is $8.53.

Hedge Funds Weigh In On Obsidian Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP acquired a new position in Obsidian Energy in the 3rd quarter worth approximately $31,000. State of Wyoming acquired a new position in Obsidian Energy in the 1st quarter worth approximately $84,000. Marks Group Wealth Management Inc purchased a new stake in Obsidian Energy in the 4th quarter worth approximately $61,000. Qube Research & Technologies Ltd purchased a new stake in Obsidian Energy in the 2nd quarter worth approximately $56,000. Finally, Caitong International Asset Management Co. Ltd boosted its position in Obsidian Energy by 1,209.9% in the 4th 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 in the last quarter. Institutional investors and hedge funds 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.