Obsidian Energy (OBE) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Obsidian Energy (NYSE:OBE) (TSE:PWT) from a hold rating to a buy rating in a research note issued to investors on Wednesday. Zacks Investment Research currently has $1.00 target price on the oil and gas company’s stock.

According to Zacks, “Obsidian Energy Ltd. is a conventional oil and natural gas producer and development company. Obsidian Energy Ltd, formerly known as Penn West Petroleum Ltd, is based in Calgary, Canada. “

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Separately, ValuEngine lowered Obsidian Energy from a sell rating to a strong sell rating in a report on Sunday, December 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $1.57.

Shares of OBE stock opened at $0.97 on Wednesday. The company has a market capitalization of $524.52, a PE ratio of -7.47 and a beta of 4.51. Obsidian Energy has a 1-year low of $0.82 and a 1-year high of $1.76. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.15.

Obsidian Energy (NYSE:OBE) (TSE:PWT) last posted its earnings results on Wednesday, March 7th. The oil and gas company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.02). The company had revenue of $93.70 million for the quarter. Obsidian Energy had a negative return on equity of 3.92% and a negative net margin of 19.20%. analysts predict that Obsidian Energy will post -0.23 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of OBE. Ladenburg Thalmann Financial Services Inc. grew its holdings in Obsidian Energy by 145.3% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 121,227 shares of the oil and gas company’s stock valued at $128,000 after purchasing an additional 71,798 shares during the period. Cubist Systematic Strategies LLC grew its holdings in Obsidian Energy by 73.0% in the third quarter. Cubist Systematic Strategies LLC now owns 144,176 shares of the oil and gas company’s stock valued at $151,000 after purchasing an additional 60,828 shares during the period. Virtu Financial LLC grew its holdings in Obsidian Energy by 184.5% in the fourth quarter. Virtu Financial LLC now owns 176,449 shares of the oil and gas company’s stock valued at $219,000 after purchasing an additional 114,420 shares during the period. Lorber David A grew its holdings in Obsidian Energy by 18.7% in the third quarter. Lorber David A now owns 317,000 shares of the oil and gas company’s stock valued at $333,000 after purchasing an additional 50,000 shares during the period. Finally, OppenheimerFunds Inc. acquired a new stake in Obsidian Energy in the fourth quarter valued at approximately $341,000. 20.13% of the stock is currently owned by institutional investors.

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Obsidian Energy Company Profile

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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