Obsidian Energy (OBE) Shares Down 5%

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Shares of Obsidian Energy Ltd (NYSE:OBE) (TSE:PWT) were down 5% during mid-day trading on Thursday . The company traded as low as $1.12 and last traded at $1.13. Approximately 1,226,732 shares traded hands during trading, a decline of 21% from the average daily volume of 1,557,591 shares. The stock had previously closed at $1.19.

A number of analysts recently issued reports on OBE shares. Zacks Investment Research raised Obsidian Energy from a “sell” rating to a “hold” rating in a report on Thursday, March 1st. ValuEngine raised Obsidian Energy from a “strong sell” rating to a “sell” rating in a report on Saturday, June 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $1.65.

The firm has a market cap of $588.12 million, a price-to-earnings ratio of -8.69 and a beta of 4.31. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.66 and a quick ratio of 0.66.

Obsidian Energy (NYSE:OBE) (TSE:PWT) last released its quarterly earnings results on Friday, May 11th. The oil and gas company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.04). Obsidian Energy had a negative net margin of 40.68% and a negative return on equity of 8.18%. The business had revenue of $91.79 million during the quarter. analysts predict that Obsidian Energy Ltd will post -0.23 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in OBE. Virtu Financial LLC raised its holdings in shares of Obsidian Energy by 184.5% in the 4th quarter. Virtu Financial LLC now owns 176,449 shares of the oil and gas company’s stock valued at $219,000 after acquiring an additional 114,420 shares in the last quarter. Natixis raised its holdings in shares of Obsidian Energy by 25.0% in the 1st quarter. Natixis now owns 250,000 shares of the oil and gas company’s stock valued at $323,000 after acquiring an additional 50,000 shares in the last quarter. OppenheimerFunds Inc. purchased a new stake in shares of Obsidian Energy in the 4th quarter valued at about $341,000. Barclays PLC raised its holdings in shares of Obsidian Energy by 155.2% in the 1st quarter. Barclays PLC now owns 464,687 shares of the oil and gas company’s stock valued at $455,000 after acquiring an additional 282,600 shares in the last quarter. Finally, Advisory Services Network LLC increased its position in shares of Obsidian Energy by 600.0% during the 4th quarter. Advisory Services Network LLC now owns 485,100 shares of the oil and gas company’s stock valued at $602,000 after purchasing an additional 415,800 shares during the last quarter. 17.16% of the stock is currently owned by hedge funds and other institutional investors.

Obsidian Energy Company Profile

Obsidian Energy Ltd. explores for, develops, and produces oil and natural gas in western Canada. The company primarily holds interests in the Cardium development area that covers an area of approximately 450 net sections of developed and undeveloped land located in west central Alberta; Peace River development area covering an area of 235 net sections of developed and undeveloped land located in northwestern Alberta; and Viking development area that covers an area of approximately 170 net sections of developed and undeveloped land located in Eastern Alberta.

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