Obsidian Energy (NYSE:OBE) (TSE:PWT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
According to Zacks, “Obsidian Energy Ltd. is a conventional oil and natural gas producer and development company. Obsidian Energy Ltd, formerly known as Penn West Petroleum Ltd, is based in Calgary, Canada. “
Separately, ValuEngine cut Obsidian Energy from a “sell” rating to a “strong sell” rating in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Obsidian Energy has a consensus rating of “Hold” and a consensus target price of $1.65.
OBE opened at $1.20 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.16. The company has a market cap of $587.23 million, a price-to-earnings ratio of -9.23 and a beta of 4.34. Obsidian Energy has a 52 week low of $1.15 and a 52 week high of $1.15.
Obsidian Energy (NYSE:OBE) (TSE:PWT) last posted its quarterly earnings data on Friday, May 11th. The oil and gas company reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.04). The company had revenue of $91.79 million for the quarter. Obsidian Energy had a negative net margin of 40.68% and a negative return on equity of 8.18%. equities research analysts expect that Obsidian Energy will post -0.23 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC increased its position in Obsidian Energy by 184.5% during the 4th quarter. Virtu Financial LLC now owns 176,449 shares of the oil and gas company’s stock worth $219,000 after purchasing an additional 114,420 shares during the period. Natixis increased its position in Obsidian Energy by 25.0% during the 1st quarter. Natixis now owns 250,000 shares of the oil and gas company’s stock worth $323,000 after purchasing an additional 50,000 shares during the period. OppenheimerFunds Inc. acquired a new position in Obsidian Energy during the 4th quarter worth approximately $341,000. Barclays PLC increased its position in Obsidian Energy by 155.2% during the 1st quarter. Barclays PLC now owns 464,687 shares of the oil and gas company’s stock worth $455,000 after purchasing an additional 282,600 shares during the period. Finally, Advisory Services Network LLC increased its position in Obsidian Energy by 600.0% during the 4th quarter. Advisory Services Network LLC now owns 485,100 shares of the oil and gas company’s stock worth $602,000 after purchasing an additional 415,800 shares during the period. Institutional investors own 19.98% of the company’s stock.
About Obsidian Energy
Obsidian Energy Ltd. explores for, develops, and produces oil and natural gas in western Canada. The company primarily holds interests in the Cardium development area that covers an area of approximately 450 net sections of developed and undeveloped land located in west central Alberta; Peace River development area covering an area of 235 net sections of developed and undeveloped land located in northwestern Alberta; and Viking development area that covers an area of approximately 170 net sections of developed and undeveloped land located in Eastern Alberta.
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