Obsidian Energy (NYSE:OBE) (TSE:PWT)‘s stock had its “hold” rating restated by research analysts at Desjardins in a report issued on Tuesday. They presently have a $0.75 price target on the oil and gas company’s stock. Desjardins’ price target would suggest a potential upside of 92.31% from the stock’s previous close.
A number of other research firms have also recently commented on OBE. Raymond James reaffirmed an “average” rating and set a $2.00 price objective on shares of Obsidian Energy in a research report on Friday, November 9th. Zacks Investment Research raised shares of Obsidian Energy from a “hold” rating to a “buy” rating and set a $0.75 price objective for the company in a research report on Wednesday, November 14th.
OBE stock opened at $0.39 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.39 and a quick ratio of 0.39. Obsidian Energy has a one year low of $0.33 and a one year high of $1.24. The firm has a market cap of $172.29 million, a price-to-earnings ratio of -3.00 and a beta of 3.69.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC lifted its holdings in shares of Obsidian Energy by 179.1% during the second quarter. Renaissance Technologies LLC now owns 1,280,403 shares of the oil and gas company’s stock worth $1,447,000 after buying an additional 821,700 shares in the last quarter. Pratt Collard Advisory Partners LLC lifted its holdings in shares of Obsidian Energy by 7.8% during the third quarter. Pratt Collard Advisory Partners LLC now owns 1,181,720 shares of the oil and gas company’s stock worth $1,123,000 after buying an additional 85,150 shares in the last quarter. WealthTrust Axiom LLC lifted its holdings in shares of Obsidian Energy by 31.3% during the third quarter. WealthTrust Axiom LLC now owns 525,500 shares of the oil and gas company’s stock worth $499,000 after buying an additional 125,350 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Obsidian Energy during the third quarter worth $257,000. Finally, Beacon Pointe Wealth Advisors LLC acquired a new stake in shares of Obsidian Energy during the fourth quarter worth $37,000. 15.51% of the stock is owned by institutional investors.
About Obsidian Energy
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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