Obsidian Energy (NYSEAMERICAN:OBE) Trading Down 5.5% – Time to Sell?

Obsidian Energy Ltd (NYSEAMERICAN:OBE) (TSE:PWT) shares were down 5.5% during trading on Tuesday . The stock traded as low as $9.53 and last traded at $9.6050. 484,789 shares traded hands during trading, a decline of 43% from the average daily volume of 849,854 shares. The stock had previously closed at $10.16.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Royal Bank Of Canada boosted their price target on Obsidian Energy from $14.00 to $18.00 and gave the stock a “sector perform” rating in a research note on Monday, May 11th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Obsidian Energy in a research report on Tuesday, June 2nd. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $18.00.

Obsidian Energy Stock Down 6.2%

The company’s 50 day moving average price is $9.78 and its two-hundred day moving average price is $9.52. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.25. The firm has a market cap of $635.89 million, a PE ratio of 34.02 and a beta of 0.15.

Institutional Trading of Obsidian Energy

Several hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. raised its stake in shares of Obsidian Energy by 11.5% in the first quarter. Goldman Sachs Group Inc. now owns 937,349 shares of the oil and gas company’s stock worth $5,493,000 after buying an additional 96,428 shares during the period. Jane Street Group LLC grew its stake in shares of Obsidian Energy by 52.3% during the 1st quarter. Jane Street Group LLC now owns 64,844 shares of the oil and gas company’s stock valued at $380,000 after acquiring an additional 22,273 shares during the period. First Trust Advisors LP increased its holdings in Obsidian Energy by 38.7% in the 2nd quarter. First Trust Advisors LP now owns 344,042 shares of the oil and gas company’s stock worth $1,909,000 after acquiring an additional 95,932 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in Obsidian Energy in the 2nd quarter worth approximately $56,000. Finally, Raymond James Financial Inc. raised its stake in Obsidian Energy by 17.3% during the 2nd quarter. Raymond James Financial Inc. now owns 203,809 shares of the oil and gas company’s stock worth $1,131,000 after acquiring an additional 30,039 shares during the period. 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.