Proxima Capital Management LLC purchased a new stake in shares of Obsidian Energy (NYSE:OBE) (TSE:PWT) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,315,000 shares of the oil and gas company’s stock, valued at approximately $4,210,000. Obsidian Energy accounts for 2.3% of Proxima Capital Management LLC’s holdings, making the stock its 17th largest position. Proxima Capital Management LLC owned about 0.66% of Obsidian Energy at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Cubist Systematic Strategies LLC purchased a new stake in shares of Obsidian Energy during the second quarter worth about $106,000. BlueCrest Capital Management Ltd purchased a new stake in shares of Obsidian Energy during the second quarter worth about $531,000. Finally, Royal Bank of Canada purchased a new stake in shares of Obsidian Energy during the second quarter worth about $1,219,000. Institutional investors and hedge funds own 16.69% of the company’s stock.
OBE has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Obsidian Energy from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Canaccord Genuity set a $2.00 target price on shares of Obsidian Energy and gave the stock a “hold” rating in a report on Wednesday, August 9th. Finally, ValuEngine lowered shares of Obsidian Energy from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. Obsidian Energy currently has an average rating of “Hold” and a consensus target price of $2.37.
Shares of Obsidian Energy (OBE) remained flat at $1.04 during mid-day trading on Friday. The stock had a trading volume of 355,384 shares. The firm’s market cap is $524.40 million. Obsidian Energy has a 52 week low of $0.82 and a 52 week high of $2.05. The firm has a 50-day moving average price of $1.40 and a 200-day moving average price of $1.61.
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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