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. “
A number of other research firms have also commented on OBE. ValuEngine upgraded shares of Obsidian Energy from a sell rating to a hold rating in a research note on Thursday, August 1st. 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. Finally, BMO Capital Markets dropped their price target on shares of Obsidian Energy from $1.50 to $1.25 and set an underperform rating on the stock in a research note on Thursday, August 29th. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Obsidian Energy currently has a consensus rating of Hold and an average price target of $1.15.
OBE traded down $0.01 on Tuesday, reaching $0.97. The company had a trading volume of 500 shares, compared to its average volume of 164,665. Obsidian Energy has a 1 year low of $0.89 and a 1 year high of $7.14. The stock has a market capitalization of $71.89 million, a PE ratio of -0.33 and a beta of 3.22. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.08. The stock has a 50-day moving average price of $1.04 and a 200-day moving average price of $0.66.
Obsidian Energy (NYSE:OBE) (TSE:PWT) last announced its quarterly earnings results on Wednesday, August 14th. The oil and gas company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.56). The company had revenue of $76.26 million during the quarter. Obsidian Energy had a negative net margin of 87.22% and a negative return on equity of 13.95%. As a group, analysts expect that Obsidian Energy will post -2.75 earnings per share for the current fiscal year.
Institutional investors have recently modified their holdings of the company. Deutsche Bank AG lifted its holdings in shares of Obsidian Energy by 1,840.7% in the fourth quarter. Deutsche Bank AG now owns 1,229,637 shares of the oil and gas company’s stock valued at $495,000 after purchasing an additional 1,166,276 shares in the last quarter. Moors & Cabot Inc. increased its position in Obsidian Energy by 81.5% during the first quarter. Moors & Cabot Inc. now owns 118,000 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 53,000 shares during the last quarter. GMT Capital Corp increased its position in Obsidian Energy by 595.0% during the first quarter. GMT Capital Corp now owns 1,260,081 shares of the oil and gas company’s stock worth $347,000 after purchasing an additional 1,078,787 shares during the last quarter. HighTower Advisors LLC acquired a new position in Obsidian Energy during the second quarter worth approximately $235,000. Finally, BlackRock Inc. acquired a new position in Obsidian Energy during the second quarter worth approximately $144,000. Institutional investors and hedge funds own 11.61% 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.
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