Obsidian Energy (NYSEAMERICAN:OBE) Hits New 1-Year High – What’s Next?

Obsidian Energy Ltd (NYSEAMERICAN:OBE) (TSE:PWT) reached a new 52-week high during trading on Monday . The stock traded as high as $14.47 and last traded at $14.2680, with a volume of 372087 shares trading hands. The stock had previously closed at $14.20.

Wall Street Analysts Forecast Growth

OBE has been the subject of a number of recent research reports. Royal Bank Of Canada upped their price target on Obsidian Energy from $9.00 to $10.00 and gave the stock a “sector perform” rating in a research report on Friday, February 20th. Raymond James Financial raised shares of Obsidian Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, March 30th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $10.00.

Obsidian Energy Trading Up 1.8%

The company has a market cap of $963.18 million, a P/E ratio of 43.82 and a beta of 0.30. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average price of $9.51 and a 200-day moving average price of $7.45.

Institutional Trading of Obsidian Energy

A number of large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its position 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 acquiring an additional 1,233,804 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Obsidian Energy by 7.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,302,029 shares of the oil and gas company’s stock valued at $7,988,000 after purchasing an additional 93,403 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Obsidian Energy by 11.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 937,349 shares of the oil and gas company’s stock valued at $5,493,000 after purchasing an additional 96,428 shares during the period. UBS Group AG lifted its stake in Obsidian Energy by 460.2% in the 3rd quarter. UBS Group AG now owns 491,153 shares of the oil and gas company’s stock valued at $3,212,000 after purchasing an additional 403,486 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in Obsidian Energy by 80.3% in the 4th quarter. Millennium Management LLC now owns 487,895 shares of the oil and gas company’s stock valued at $2,994,000 after purchasing an additional 217,239 shares during the last quarter. Institutional investors and hedge funds own 13.51% of the company’s stock.

About Obsidian Energy

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.