Obsidian Energy Ltd (NYSEAMERICAN:OBE – Get Free Report) (TSE:PWT)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $9.41, but opened at $10.09. Obsidian Energy shares last traded at $9.9410, with a volume of 158,880 shares trading hands.
Analyst Ratings Changes
A number of research firms have recently commented on OBE. BMO Capital Markets reiterated an “outperform” rating on shares of Obsidian Energy in a research note on Tuesday, June 2nd. Royal Bank Of Canada increased their target price on Obsidian Energy from $14.00 to $18.00 and gave the company a “sector perform” rating in a research note on Monday, May 11th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $18.00.
View Our Latest Research Report on OBE
Obsidian Energy Stock Performance
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP bought a new stake in shares of Obsidian Energy in the third quarter valued at about $31,000. Qube Research & Technologies Ltd bought a new position in Obsidian Energy during the second quarter valued at about $56,000. Marks Group Wealth Management Inc bought a new position in Obsidian Energy during the fourth quarter valued at about $61,000. Caitong International Asset Management Co. Ltd raised its holdings in Obsidian Energy by 1,209.9% in the 4th 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 acquiring an additional 10,744 shares in the last quarter. Finally, HRT Financial LP acquired a new position in Obsidian Energy in the 4th quarter valued at approximately $77,000. Institutional investors own 13.51% of the company’s stock.
Obsidian Energy Company Profile
Obsidian Energy Ltd. explores for, develops, and produces oil and natural gas in western Canada. It holds interests in the Alberta Viking, Cardium, Deep Basin, and Peace River areas. The company was formerly known as Penn West Petroleum Ltd. and changed its name to Obsidian Energy Ltd. in June 2017. Obsidian Energy Ltd. was founded in 1979 and is headquartered in Calgary, Canada.
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