Obsidian Energy (NYSEAMERICAN:OBE) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Obsidian Energy Ltd (NYSEAMERICAN:OBE) (TSE:PWT) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $9.17 and traded as high as $9.39. Obsidian Energy shares last traded at $9.06, with a volume of 666,630 shares traded.

Analyst Ratings Changes

A number of brokerages have recently issued reports on OBE. Royal Bank Of Canada increased their price target on shares of Obsidian Energy from $14.00 to $18.00 and gave the company a “sector perform” rating in a report on Monday, May 11th. BMO Capital Markets reissued an “outperform” rating on shares of Obsidian Energy in a report on Tuesday, June 2nd. Finally, Raymond James Financial upgraded shares of Obsidian Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, March 30th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $18.00.

Obsidian Energy Stock Up 9.0%

The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.58 and a current ratio of 0.58. The firm’s 50-day moving average is $10.44 and its 200 day moving average is $9.19. The firm has a market capitalization of $645.70 million, a PE ratio of -964.70 and a beta of 0.16.

Institutional Trading of Obsidian Energy

Large investors have recently modified their holdings of the business. JPMorgan Chase & Co. raised its position in shares of Obsidian Energy by 3,092.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 144,966 shares of the oil and gas company’s stock worth $1,029,000 after purchasing an additional 140,425 shares during the last quarter. Versor Investments LP acquired a new stake in Obsidian Energy during the 4th quarter valued at $271,000. Spark Investment Management LLC purchased a new position in Obsidian Energy during the fourth quarter worth $595,000. Balyasny Asset Management L.P. purchased a new position in Obsidian Energy during the fourth quarter worth $192,000. Finally, XTX Topco Ltd acquired a new position in shares of Obsidian Energy in the fourth quarter worth $152,000. 13.51% of the stock is currently owned by institutional investors and hedge funds.

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.