Luminus Management LLC Grows Holdings in Obsidian Energy Ltd (OBE)
Luminus Management LLC raised its stake in Obsidian Energy Ltd (NYSE:OBE) (TSE:PWT) by 55.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,700,000 shares of the oil and gas company’s stock after purchasing an additional 606,900 shares during the period. Luminus Management LLC’s holdings in Obsidian Energy were worth $2,108,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in OBE. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of 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 last quarter. Cubist Systematic Strategies LLC increased its holdings in shares of 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 last quarter. Virtu Financial LLC increased its holdings in shares of 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 last quarter. Lorber David A increased its holdings in shares of 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 last quarter. Finally, OppenheimerFunds Inc. acquired a new position in shares of Obsidian Energy in the fourth quarter valued at $341,000. Hedge funds and other institutional investors own 20.14% of the company’s stock.
Several research firms have commented on OBE. Zacks Investment Research upgraded shares of Obsidian Energy from a “sell” rating to a “hold” rating in a report on Thursday, March 1st. ValuEngine cut shares of Obsidian Energy from a “sell” rating to a “strong sell” rating in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. Obsidian Energy presently has a consensus rating of “Hold” and an average target price of $1.86.
Obsidian Energy (NYSE:OBE) (TSE:PWT) last announced its earnings results on Wednesday, March 7th. The oil and gas company reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.02). The business had revenue of $93.70 million during the quarter. Obsidian Energy had a negative net margin of 19.20% and a negative return on equity of 3.92%. sell-side analysts forecast that Obsidian Energy Ltd will post -0.23 EPS for the current year.
About Obsidian Energy
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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