Obsidian Energy (NYSEAMERICAN:OBE) Shares Up 5.2% – What’s Next?

Obsidian Energy Ltd (NYSEAMERICAN:OBE) (TSE:PWT) shares shot up 5.2% on Friday. The company traded as high as $12.19 and last traded at $12.1680. Approximately 193,503 shares were traded during trading, a decline of 76% from the average session volume of 820,701 shares. The stock had previously closed at $11.57.

Analyst Upgrades and Downgrades

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

Obsidian Energy Price Performance

The stock’s 50-day simple moving average is $11.53 and its two-hundred day simple moving average is $10.91. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $799.56 million, a price-to-earnings ratio of 43.23 and a beta of 0.35.

Institutional Investors Weigh In On Obsidian Energy

A number of large investors have recently made changes to their positions in the stock. Engineers Gate Manager LP increased its holdings in shares of Obsidian Energy by 5.6% during the 2nd quarter. Engineers Gate Manager LP now owns 31,014 shares of the oil and gas company’s stock worth $252,000 after buying an additional 1,636 shares during the last quarter. Spark Investment Management LLC lifted its position in Obsidian Energy by 23.1% in the second quarter. Spark Investment Management LLC now owns 133,000 shares of the oil and gas company’s stock valued at $1,088,000 after buying an additional 25,000 shares during the last quarter. Hsbc Holdings PLC purchased a new position in shares of Obsidian Energy during the 2nd quarter worth approximately $129,000. Beacon Pointe Advisors LLC acquired a new stake in Obsidian Energy in the 2nd quarter valued at approximately $329,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Obsidian Energy in the second quarter valued at approximately $1,145,000. 13.51% of the stock is currently owned by hedge funds and other institutional investors.

About Obsidian Energy

Obsidian Energy Ltd. is a Canadian oil and natural gas exploration and production company headquartered in Calgary, Alberta. The company develops and produces crude oil, natural gas and natural gas liquids from conventional and light-oil assets in the Western Canadian Sedimentary Basin.

Obsidian Energy’s operations are concentrated in Alberta and are organized around core operating areas that include the Cardium, Peace River and Clearwater regions. Its activities include acquiring and developing petroleum properties, drilling and completing wells, and managing production and field infrastructure.

The company was formerly known as Penn West Petroleum Ltd.