ValuEngine cut shares of Obsidian Energy (NYSE:OBE) (TSE:PWT) from a sell rating to a strong sell rating in a research note issued to investors on Sunday.
Several other analysts have also recently issued reports on OBE. Zacks Investment Research cut Obsidian Energy from a hold rating to a sell rating in a report on Thursday, October 12th. CIBC assumed coverage on Obsidian Energy in a research note on Wednesday, October 18th. They issued a neutral rating on the stock. UBS Group raised Obsidian Energy from a market perform rating to an outperform rating in a research note on Friday, November 10th. Raymond James Financial raised Obsidian Energy from a mkt perform rating to an outperform rating in a research note on Friday, November 10th. Finally, Royal Bank of Canada increased their target price on Obsidian Energy from $1.45 to $1.71 and gave the stock a sector perform rating in a research note on Monday, November 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. Obsidian Energy presently has an average rating of Hold and an average price target of $1.86.
Shares of Obsidian Energy (NYSE OBE) traded up $0.02 during trading hours on Friday, reaching $1.33. The company’s stock had a trading volume of 1,468,300 shares, compared to its average volume of 1,566,150. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.15. The stock has a market cap of $662.03, a PE ratio of -3.24 and a beta of 4.79. Obsidian Energy has a 12 month low of $0.82 and a 12 month high of $2.05.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada purchased a new stake in Obsidian Energy during the 2nd quarter worth about $1,219,000. BlueCrest Capital Management Ltd purchased a new stake in Obsidian Energy during the 2nd quarter worth about $531,000. Cubist Systematic Strategies LLC purchased a new position in shares of Obsidian Energy in the 2nd quarter valued at about $106,000. Proxima Capital Management LLC purchased a new position in shares of Obsidian Energy in the 2nd quarter valued at about $4,210,000. Finally, Adalta Capital Management LLC purchased a new position in shares of Obsidian Energy in the 2nd quarter valued at about $829,000. 19.91% of the stock is currently owned by hedge funds and other institutional investors.
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About Obsidian Energy
Obsidian Energy Ltd, formerly Penn West Petroleum Ltd, is a Canada-based conventional oil and natural gas producer and development and production company. The Company operates a portfolio of opportunities with an oil position in the Cardium, Viking and Peace River areas of Alberta. The Alberta Viking area offers a mix of light-oil and gas with high-netback shorter cycle wells to complement longer cycle activities in the Cardium.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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