Obsidian Energy (NYSEAMERICAN:OBE) Stock Price Breaks Above 200-Day Moving Average – Here’s What Happened

Obsidian Energy Ltd (NYSEAMERICAN:OBE) (TSE:PWT) shares passed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $10.82 and traded as high as $11.66. Obsidian Energy shares last traded at $11.47, with a volume of 566,055 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial reaffirmed an “outperform” rating on shares of Obsidian Energy in a report on Wednesday, September 16th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

Obsidian Energy Trading Up 4.4%

The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.25. The company has a market cap of $791.82 million, a price-to-earnings ratio of 42.75 and a beta of 0.35. The firm has a 50-day moving average price of $11.42 and a 200 day moving average price of $10.83.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. State of Wyoming bought a new position in Obsidian Energy in the first quarter worth about $84,000. FNY Investment Advisers LLC acquired a new position in Obsidian Energy in the second quarter valued at approximately $81,000. Caitong International Asset Management Co. Ltd boosted its stake 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 acquiring an additional 10,744 shares during the period. Post Resch Tallon Group Inc. bought a new position in shares of Obsidian Energy during the second quarter valued at approximately $122,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of Obsidian Energy during the 2nd quarter worth approximately $129,000. 13.51% of the stock is owned by institutional investors and hedge funds.

Obsidian Energy Company Profile

Obsidian Energy Ltd. is a Canadian oil and natural gas exploration and production company focused on developing and producing crude oil, natural gas liquids and natural gas. The company’s operations are concentrated in Alberta, where it holds interests in the Peace River, Cardium and Clearwater areas.

The company’s portfolio includes light-oil, heavy-oil and natural-gas properties. Its activities cover the exploration, development and production of hydrocarbons, supported by infrastructure and land positions in Western Canada.

Obsidian Energy was previously known as Penn West Petroleum Ltd.