Obsidian Energy (NYSEAMERICAN:OBE) Shares Down 4.3% – Should You Sell?

Obsidian Energy Ltd (NYSEAMERICAN:OBE) (TSE:PWT)’s stock price was down 4.3% during trading on Tuesday. The stock traded as low as $11.75 and last traded at $11.5710. Approximately 143,980 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 820,747 shares. The stock had previously closed at $12.09.

Analyst Ratings Changes

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

Obsidian Energy Price Performance

The stock has a market capitalization of $784.74 million, a price-to-earnings ratio of 42.37 and a beta of 0.35. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.25. The stock has a fifty day moving average of $11.45 and a 200-day moving average of $10.86.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. State of Wyoming acquired a new stake in Obsidian Energy during the 1st quarter worth $84,000. FNY Investment Advisers LLC purchased a new stake in Obsidian Energy in the second quarter valued at $81,000. Caitong International Asset Management Co. Ltd boosted its stake in Obsidian Energy by 1,209.9% in 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 acquiring an additional 10,744 shares in the last quarter. Post Resch Tallon Group Inc. acquired a new position in Obsidian Energy in the second quarter valued at $122,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Obsidian Energy during the second quarter worth about $129,000. Institutional investors and hedge funds own 13.51% of the company’s stock.

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.