Obsidian Energy (NYSEAMERICAN:OBE) Stock Sees Heavy Call Option Buying

Obsidian Energy Ltd (NYSEAMERICAN:OBE) (TSE:PWT) was the recipient of unusually large options trading activity on Tuesday. Investors acquired 5,152 call options on the company. This is an increase of 76% compared to the typical volume of 2,921 call options.

Institutional Investors Weigh In On Obsidian Energy

A number of large investors have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC acquired a new position in shares of Obsidian Energy during the 2nd quarter worth $81,000. State of Wyoming purchased a new stake in shares of Obsidian Energy during the first quarter valued at approximately $84,000. Post Resch Tallon Group Inc. bought a new position in Obsidian Energy in the second quarter worth $122,000. Hsbc Holdings PLC bought a new position in shares of Obsidian Energy in the second quarter worth approximately $129,000. Finally, Cibc World Market Inc. purchased a new position in Obsidian Energy in the 2nd quarter worth about $174,000. Institutional investors own 13.51% of the company’s stock.

Obsidian Energy Stock Up 1.5%

NYSEAMERICAN:OBE traded up $0.15 during trading hours on Tuesday, reaching $10.52. 264,463 shares of the stock were exchanged, compared to its average volume of 817,783. The stock has a market cap of $696.10 million, a PE ratio of 37.59 and a beta of 0.35. Obsidian Energy has a twelve month low of $5.47 and a twelve month high of $14.59. The firm has a 50 day moving average of $11.52 and a 200 day moving average of $10.12. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.78 and a quick ratio of 0.78.

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial reissued an “outperform” rating on shares of Obsidian Energy in a research note on Wednesday, September 16th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $18.00.

About Obsidian Energy

Obsidian Energy Ltd. is a Canadian oil and natural gas exploration and production company headquartered in Calgary, Alberta. The company develops and produces crude oil, natural gas and natural gas liquids from conventional and light-oil assets in the Western Canadian Sedimentary Basin.

Obsidian Energy’s operations are concentrated in Alberta and are organized around core operating areas that include the Cardium, Peace River and Clearwater regions. Its activities include acquiring and developing petroleum properties, drilling and completing wells, and managing production and field infrastructure.

The company was formerly known as Penn West Petroleum Ltd.