Obsidian Energy (NYSE:OBE) (TSE:PWT) was upgraded by equities research analysts at AltaCorp Capital from a “sector perform” rating to an “outperform” rating in a research note issued to investors on Monday.
Other research analysts also recently issued reports about the company. Zacks Investment Research raised Obsidian Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, August 15th. Canaccord Genuity set a $2.00 price target on Obsidian Energy and gave the stock a “hold” rating in a research report on Wednesday, August 9th. CIBC started coverage on Obsidian Energy in a research report on Wednesday, October 18th. They issued a “neutral” rating on the stock. Raymond James Financial, Inc. raised Obsidian Energy from a “mkt perform” rating to an “outperform” rating in a research report on Friday. Finally, UBS AG raised Obsidian Energy from a “market perform” rating to an “outperform” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $2.10.
Obsidian Energy (NYSE OBE) opened at $1.21 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.05 and a quick ratio of 1.05. Obsidian Energy has a 1 year low of $0.82 and a 1 year high of $2.05.
Several large investors have recently made changes to their positions in OBE. Royal Bank of Canada acquired a new stake in shares of Obsidian Energy during the 2nd quarter worth approximately $1,219,000. BlueCrest Capital Management Ltd acquired a new stake in Obsidian Energy in the 2nd quarter valued at $531,000. Cubist Systematic Strategies LLC acquired a new stake in Obsidian Energy in the 2nd quarter valued at $106,000. Proxima Capital Management LLC bought a new position in Obsidian Energy in the 2nd quarter valued at $4,210,000. Finally, Adalta Capital Management LLC bought a new position in Obsidian Energy in the 2nd quarter valued at $829,000. 16.70% of the stock is currently owned by institutional investors.
Obsidian Energy Company Profile
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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