Obsidian Energy Ltd (NYSEAMERICAN:OBE – Get Free Report) (TSE:PWT) gapped up before the market opened on Thursday. The stock had previously closed at $10.63, but opened at $11.01. Obsidian Energy shares last traded at $10.9450, with a volume of 50,399 shares.
Analyst Upgrades and Downgrades
Separately, Raymond James Financial restated 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.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.00.
View Our Latest Research Report on Obsidian Energy
Obsidian Energy Trading Up 3.8%
Institutional Trading of Obsidian Energy
Institutional investors have recently added to or reduced their stakes in the stock. Engineers Gate Manager LP grew 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 during the period. Spark Investment Management LLC lifted its position in shares of Obsidian Energy by 23.1% during the 2nd quarter. Spark Investment Management LLC now owns 133,000 shares of the oil and gas company’s stock valued at $1,088,000 after acquiring an additional 25,000 shares during the period. Hsbc Holdings PLC purchased a new stake in shares of Obsidian Energy during the 2nd quarter worth approximately $129,000. Beacon Pointe Advisors LLC purchased a new stake in shares of Obsidian Energy during the 2nd quarter worth approximately $329,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Obsidian Energy in the 2nd quarter worth approximately $1,145,000. Hedge funds and other institutional investors own 13.51% of the company’s stock.
About Obsidian Energy
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.
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