Public Employees Retirement System of Ohio Takes $820,000 Position in Obsidian Energy Ltd $OBE

Public Employees Retirement System of Ohio purchased a new stake in Obsidian Energy Ltd (NYSEAMERICAN:OBE) (TSE:PWT) during the first quarter, HoldingsChannel.com reports. The firm purchased 86,600 shares of the oil and gas company’s stock, valued at approximately $820,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. JPMorgan Chase & Co. raised its position in Obsidian Energy by 3,092.4% in the third quarter. JPMorgan Chase & Co. now owns 144,966 shares of the oil and gas company’s stock worth $1,029,000 after acquiring an additional 140,425 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Obsidian Energy by 137.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,996,167 shares of the oil and gas company’s stock worth $28,463,000 after purchasing an additional 1,736,064 shares in the last quarter. Versor Investments LP purchased a new stake in shares of Obsidian Energy during the 4th quarter worth $271,000. Spark Investment Management LLC acquired a new position in shares of Obsidian Energy during the 4th quarter worth $595,000. Finally, Royal Bank of Canada increased its holdings in shares of Obsidian Energy by 57.4% in the 4th quarter. Royal Bank of Canada now owns 3,382,597 shares of the oil and gas company’s stock valued at $20,734,000 after purchasing an additional 1,233,804 shares in the last quarter. Institutional investors and hedge funds own 13.51% of the company’s stock.

Obsidian Energy Trading Down 5.2%

Shares of Obsidian Energy stock opened at $10.16 on Tuesday. Obsidian Energy Ltd has a 1 year low of $5.44 and a 1 year high of $14.59. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.78 and a quick ratio of 0.78. The business has a 50 day moving average price of $9.78 and a 200 day moving average price of $9.52. The company has a market capitalization of $678.28 million, a P/E ratio of 36.29 and a beta of 0.15.

Analyst Upgrades and Downgrades

OBE has been the subject of several recent analyst reports. BMO Capital Markets reiterated an “outperform” rating on shares of Obsidian Energy in a research note on Tuesday, June 2nd. Royal Bank Of Canada increased their target price 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. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $18.00.

Obsidian Energy 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.