Obsidian Energy (NYSEAMERICAN:OBE) Shares Gap Up – Here’s What Happened

Obsidian Energy Ltd (NYSEAMERICAN:OBE) (TSE:PWT) shares gapped up prior to trading on Monday . The stock had previously closed at $10.10, but opened at $10.50. Obsidian Energy shares last traded at $10.4530, with a volume of 316,740 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have commented on OBE. Royal Bank Of Canada boosted their price target on shares of 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 upgraded shares of Obsidian Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, March 30th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.00.

Obsidian Energy Stock Performance

The company’s 50-day moving average price is $8.71 and its two-hundred day moving average price is $7.12. The company has a market cap of $779.34 million, a P/E ratio of 35.45 and a beta of -0.10. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.13.

Institutional Investors Weigh In On Obsidian Energy

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP acquired a new position in shares of Obsidian Energy in the 3rd quarter worth $31,000. Marks Group Wealth Management Inc acquired a new stake in shares of Obsidian Energy during the fourth quarter worth $61,000. Qube Research & Technologies Ltd purchased a new stake in shares of Obsidian Energy during the second quarter valued at $56,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of 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 during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Obsidian Energy in the 3rd quarter valued at $80,000. Institutional investors and hedge funds own 13.51% of the company’s stock.

Obsidian Energy Company Profile

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.