Obsidian Energy (NYSEAMERICAN:OBE) Shares Gap Up – Here’s What Happened

Obsidian Energy Ltd (NYSEAMERICAN:OBE) (TSE:PWT) gapped up before the market opened on Tuesday . The stock had previously closed at $11.45, but opened at $11.93. Obsidian Energy shares last traded at $11.7810, with a volume of 93,642 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on OBE shares. Royal Bank Of Canada boosted their price target on Obsidian Energy from $14.00 to $18.00 and gave the company a “sector perform” rating in a report on Monday, May 11th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Obsidian Energy in a report on Tuesday, June 2nd. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $18.00.

Obsidian Energy Stock Performance

The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.78 and a current ratio of 0.78. The stock’s fifty day moving average is $9.81 and its two-hundred day moving average is $10.07. The firm has a market cap of $791.02 million, a price-to-earnings ratio of 42.12 and a beta of 0.15.

Hedge Funds Weigh In On Obsidian Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP acquired a new position in Obsidian Energy during the 3rd quarter valued at about $31,000. Qube Research & Technologies Ltd bought a new position in Obsidian Energy during the 2nd quarter valued at $56,000. Marks Group Wealth Management Inc bought a new position in Obsidian Energy during the 4th quarter valued at $61,000. Caitong International Asset Management Co. Ltd increased its position in shares of Obsidian Energy by 1,209.9% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 11,632 shares of the oil and gas company’s stock valued at $71,000 after purchasing an additional 10,744 shares during the period. Finally, HRT Financial LP bought a new stake in shares of Obsidian Energy in the 4th quarter worth $77,000. Institutional investors own 13.51% 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. was founded in 1979 and is headquartered in Calgary, Canada.