Obsidian Energy (NYSEAMERICAN:OBE) Stock Price Up 4.7% – Should You Buy?

Obsidian Energy Ltd (NYSEAMERICAN:OBE) (TSE:PWT) shot up 4.7% on Friday. The company traded as high as $11.97 and last traded at $12.0110. 372,683 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 824,852 shares. The stock had previously closed at $11.47.

Analyst Upgrades and Downgrades

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

Obsidian Energy Trading Up 4.4%

The company has a 50 day simple moving average of $11.38 and a 200 day simple moving average of $10.82. The company has a market capitalization of $792.28 million, a PE ratio of 42.71 and a beta of 0.35. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.78 and a current ratio of 0.78.

Institutional Trading of Obsidian Energy

A number of institutional investors have recently made changes to their positions in OBE. Engineers Gate Manager LP increased its position 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 worth $252,000 after purchasing an additional 1,636 shares in the last quarter. Spark Investment Management LLC lifted its holdings 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 valued at $1,088,000 after purchasing an additional 25,000 shares in the last quarter. Hsbc Holdings PLC purchased a new position in Obsidian Energy in the 2nd quarter valued at $129,000. Beacon Pointe Advisors LLC purchased a new position in Obsidian Energy in the 2nd quarter valued at $329,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in Obsidian Energy during the 2nd quarter worth $1,145,000. 13.51% of the stock is owned by institutional investors and hedge funds.

Obsidian Energy Company Profile

Obsidian Energy Ltd. is a Canadian oil and natural gas exploration and production company focused on developing and producing crude oil, natural gas liquids and natural gas. The company’s operations are concentrated in Alberta, where it holds interests in the Peace River, Cardium and Clearwater areas.

The company’s portfolio includes light-oil, heavy-oil and natural-gas properties. Its activities cover the exploration, development and production of hydrocarbons, supported by infrastructure and land positions in Western Canada.

Obsidian Energy was previously known as Penn West Petroleum Ltd.