ValuEngine upgraded shares of Obsidian Energy (NYSE:OBE) (TSE:PWT) from a sell rating to a hold rating in a report issued on Thursday, ValuEngine reports.
Several other research firms also recently issued reports on OBE. Zacks Investment Research downgraded Obsidian Energy from a buy rating to a hold rating in a research note on Thursday, July 18th. CIBC reiterated a hold rating and set a $1.50 price target on shares of Obsidian Energy in a research note on Tuesday, June 25th. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $1.00.
OBE stock remained flat at $$1.00 during trading on Thursday. The company’s stock had a trading volume of 223,591 shares, compared to its average volume of 209,264. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.29. Obsidian Energy has a one year low of $0.89 and a one year high of $7.56. The company’s fifty day moving average price is $1.07.
Obsidian Energy (NYSE:OBE) (TSE:PWT) last posted its quarterly earnings data on Friday, May 10th. The oil and gas company reported ($0.08) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.08). Obsidian Energy had a negative return on equity of 14.03% and a negative net margin of 69.98%. The company had revenue of $77.47 million for the quarter. As a group, analysts predict that Obsidian Energy will post -1.05 EPS for the current year.
A number of large investors have recently made changes to their positions in OBE. Moors & Cabot Inc. boosted its stake in Obsidian Energy by 81.5% during the 1st quarter. Moors & Cabot Inc. now owns 118,000 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 53,000 shares during the period. Grace & White Inc. NY raised its holdings in Obsidian Energy by 150.7% in the 1st quarter. Grace & White Inc. NY now owns 1,007,434 shares of the oil and gas company’s stock valued at $277,000 after acquiring an additional 605,584 shares in the last quarter. GMT Capital Corp raised its holdings in Obsidian Energy by 595.0% in the 1st quarter. GMT Capital Corp now owns 1,260,081 shares of the oil and gas company’s stock valued at $347,000 after acquiring an additional 1,078,787 shares in the last quarter. Deutsche Bank AG raised its holdings in Obsidian Energy by 1,840.7% in the 4th quarter. Deutsche Bank AG now owns 1,229,637 shares of the oil and gas company’s stock valued at $495,000 after acquiring an additional 1,166,276 shares in the last quarter. Finally, Norges Bank acquired a new position in Obsidian Energy in the 4th quarter valued at approximately $2,692,000. Hedge funds and other institutional investors own 13.21% of the company’s stock.
About Obsidian Energy
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.
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To view ValuEngine’s full report, visit ValuEngine’s official website.
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