Obsidian Energy (NYSEAMERICAN:OBE) Shares Gap Down – Time to Sell?

Obsidian Energy Ltd (NYSEAMERICAN:OBE) (TSE:PWT)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $11.57, but opened at $11.22. Obsidian Energy shares last traded at $11.4660, with a volume of 74,909 shares.

Wall Street Analysts Forecast Growth

OBE has been the subject of several analyst reports. BMO Capital Markets restated an “outperform” rating on shares of Obsidian Energy in a report on Tuesday, June 2nd. Raymond James Financial reissued an “outperform” rating on shares of Obsidian Energy in a research report on Wednesday, September 16th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $18.00.

Obsidian Energy Trading Down 0.1%

The business’s 50 day simple moving average is $10.98 and its 200 day simple moving average is $10.54. The stock has a market cap of $764.63 million, a price-to-earnings ratio of 41.31 and a beta of 0.18. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.25.

Institutional Investors Weigh In On Obsidian Energy

Several hedge funds have recently bought and sold shares of OBE. Engineers Gate Manager LP lifted its position in shares of Obsidian Energy by 5.6% during the 2nd quarter. Engineers Gate Manager LP now owns 31,014 shares of the oil and gas company’s stock valued at $252,000 after acquiring an additional 1,636 shares during the period. State of Wyoming acquired a new stake in shares of Obsidian Energy during the 1st quarter worth approximately $84,000. Marks Group Wealth Management Inc acquired a new stake in shares of Obsidian Energy during the 4th quarter worth approximately $61,000. FNY Investment Advisers LLC bought a new position in Obsidian Energy in the second quarter valued at approximately $81,000. Finally, Caitong International Asset Management Co. Ltd raised its position in Obsidian Energy by 1,209.9% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 11,632 shares of the oil and gas company’s stock valued at $71,000 after purchasing an additional 10,744 shares in the last quarter. 13.51% of the stock is currently owned by institutional investors and hedge funds.

About Obsidian Energy

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.