Obsidian Energy (NYSEAMERICAN:OBE) Sees Large Volume Increase – Here’s What Happened

Shares of Obsidian Energy Ltd (NYSEAMERICAN:OBE) (TSE:PWT) saw unusually-high trading volume on Thursday . Approximately 665,569 shares traded hands during trading, a decline of 16% from the previous session’s volume of 787,742 shares.The stock last traded at $13.21 and had previously closed at $12.39.

Wall Street Analysts Forecast Growth

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

Obsidian Energy Stock Performance

The firm has a market cap of $846.61 million, a P/E ratio of 38.52 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. The business’s fifty day simple moving average is $8.80 and its 200-day simple moving average is $7.15.

Institutional Investors Weigh In On Obsidian Energy

Large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in Obsidian Energy by 3,092.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 144,966 shares of the oil and gas company’s stock worth $1,029,000 after acquiring an additional 140,425 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Obsidian Energy by 11.5% during 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 in the last quarter. UBS Group AG boosted its stake in shares of Obsidian Energy by 460.2% during 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 in the last quarter. Millennium Management LLC boosted its stake in shares of Obsidian Energy by 80.3% during 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 in the last quarter. Finally, Quadrature Capital Ltd boosted its stake in shares of Obsidian Energy by 402.0% during the 4th quarter. Quadrature Capital Ltd now owns 337,858 shares of the oil and gas company’s stock valued at $2,075,000 after purchasing an additional 270,555 shares in the last quarter. Institutional investors 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.