Obsidian Energy (NYSEAMERICAN:OBE) Stock Price Breaks Above Two Hundred Day Moving Average – Here’s Why

Obsidian Energy Ltd (NYSEAMERICAN:OBE) (TSE:PWT)’s share price passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $10.69 and traded as high as $10.70. Obsidian Energy shares last traded at $10.50, with a volume of 637,378 shares changing hands.

Analyst Ratings Changes

Separately, Raymond James Financial reiterated 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 assigned a Hold rating to the stock. Based on data from MarketBeat, Obsidian Energy presently has a consensus rating of “Moderate Buy” and an average price target of $18.00.

Obsidian Energy Stock Up 0.1%

The firm has a market cap of $703.17 million, a price-to-earnings ratio of 37.96 and a beta of 0.35. The business has a fifty day simple moving average of $11.18 and a 200 day simple moving average of $10.70. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.78 and a quick ratio of 0.78.

Institutional Investors Weigh In On Obsidian Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Engineers Gate Manager LP lifted its position in Obsidian Energy by 5.6% during the second quarter. Engineers Gate Manager LP now owns 31,014 shares of the oil and gas company’s stock worth $252,000 after buying an additional 1,636 shares in the last quarter. State of Wyoming purchased a new stake in Obsidian Energy in the 1st quarter valued at $84,000. Marks Group Wealth Management Inc acquired a new position in shares of Obsidian Energy during the 4th quarter valued at about $61,000. FNY Investment Advisers LLC acquired a new position in shares of Obsidian Energy during the 2nd quarter valued at about $81,000. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of 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 purchasing an additional 10,744 shares during the period. 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.