Obsidian Energy Sees Unusually High Options Volume (NYSEAMERICAN:OBE)

Obsidian Energy Ltd (NYSEAMERICAN:OBE) (TSE:PWT) was the recipient of some unusual options trading activity on Monday. Investors acquired 3,191 call options on the stock. This is an increase of approximately 43% compared to the typical volume of 2,224 call options.

Institutional Investors Weigh In On Obsidian Energy

Large investors have recently modified their holdings of the stock. Royal Bank of Canada grew its position in Obsidian Energy by 31.4% in the first quarter. Royal Bank of Canada now owns 4,444,416 shares of the oil and gas company’s stock valued at $42,089,000 after acquiring an additional 1,061,819 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Obsidian Energy by 137.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,996,167 shares of the oil and gas company’s stock valued at $28,463,000 after purchasing an additional 1,736,064 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Obsidian Energy by 5.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,369,948 shares of the oil and gas company’s stock worth $12,973,000 after purchasing an additional 67,919 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Obsidian Energy during the second quarter worth $7,777,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Obsidian Energy in the second quarter valued at $4,341,000. Institutional investors and hedge funds own 13.51% of the company’s stock.

Obsidian Energy Stock Performance

NYSEAMERICAN:OBE opened at $12.49 on Tuesday. The firm’s fifty day simple moving average is $10.62 and its 200 day simple moving average is $10.39. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.25. Obsidian Energy has a twelve month low of $5.44 and a twelve month high of $14.59. The firm has a market capitalization of $833.46 million, a price-to-earnings ratio of 44.61 and a beta of 0.18.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets reissued an “outperform” rating on shares of Obsidian Energy in a research note on Tuesday, June 2nd. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

Obsidian Energy Company Profile

Obsidian Energy Ltd. is a Canadian oil and natural gas exploration and production company. Its activities include the acquisition, development and operation of petroleum and natural gas properties, with a focus on generating production from conventional oil and liquids-rich natural gas assets.

The company’s operations are concentrated in Alberta, Canada, including the Peace River, Cardium and Pembina areas. Its products include crude oil, natural gas liquids and natural gas, which are sold into Canadian and North American energy markets.

Obsidian Energy was formerly known as Penn West Petroleum Ltd.