Obsidian Energy (OBE) Upgraded to “Outperform” by UBS AG
UBS AG upgraded shares of Obsidian Energy (NYSE:OBE) (TSE:PWT) from a market perform rating to an outperform rating in a research report report published on Friday, The Fly reports.
A number of other analysts also recently weighed in on the company. CIBC initiated coverage on Obsidian Energy in a research report on Wednesday, October 18th. They issued a neutral rating for the company. Zacks Investment Research downgraded Obsidian Energy from a hold rating to a sell rating in a research report on Wednesday, August 9th. ValuEngine downgraded Obsidian Energy from a sell rating to a strong sell rating in a research report on Friday, September 1st. Finally, Canaccord Genuity set a $2.00 target price on Obsidian Energy and gave the stock a hold rating in a research report on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. Obsidian Energy currently has a consensus rating of Hold and an average price target of $2.10.
Shares of Obsidian Energy (OBE) opened at $1.21 on Friday. Obsidian Energy has a 12-month low of $0.82 and a 12-month high of $2.05. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.16.
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Institutional investors have recently made changes to their positions in the business. Cubist Systematic Strategies LLC purchased a new position in Obsidian Energy in the 2nd quarter worth approximately $106,000. Toronto Dominion Bank purchased a new position in Obsidian Energy in the 2nd quarter worth approximately $338,000. BlueCrest Capital Management Ltd purchased a new position in Obsidian Energy in the 2nd quarter worth approximately $531,000. Adalta Capital Management LLC purchased a new position in Obsidian Energy in the 2nd quarter worth approximately $829,000. Finally, Royal Bank of Canada purchased a new position in Obsidian Energy in the 2nd quarter worth approximately $1,219,000. 16.70% of the stock is currently owned by institutional investors and hedge funds.
About Obsidian Energy
Obsidian Energy Ltd, formerly Penn West Petroleum Ltd, is a Canada-based conventional oil and natural gas producer and development and production company. The Company operates a portfolio of opportunities with an oil position in the Cardium, Viking and Peace River areas of Alberta. The Alberta Viking area offers a mix of light-oil and gas with high-netback shorter cycle wells to complement longer cycle activities in the Cardium.
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