Obsidian Energy (NYSEAMERICAN:OBE) Stock Sees Heavy Call Option Buying

Obsidian Energy Ltd (NYSEAMERICAN:OBE) (TSE:PWT) was the recipient of unusually large options trading on Tuesday. Stock investors acquired 5,152 call options on the stock. This represents an increase of 76% compared to the average volume of 2,921 call options.

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial reiterated an “outperform” rating on shares of Obsidian Energy in a report on Wednesday, September 16th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Obsidian Energy currently has an average rating of “Moderate Buy” and a consensus target price of $18.00.

Obsidian Energy Price Performance

Shares of NYSEAMERICAN:OBE traded up $0.15 on Tuesday, hitting $10.52. The company had a trading volume of 264,463 shares, compared to its average volume of 817,783. The company has a market cap of $696.10 million, a PE ratio of 37.59 and a beta of 0.35. Obsidian Energy has a 52-week low of $5.47 and a 52-week high of $14.59. The business has a 50 day moving average of $11.52 and a 200 day moving average of $10.12. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.25.

Institutional Inflows and Outflows

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