Spark Investment Management LLC Makes New $595,000 Investment in Obsidian Energy Ltd $OBE

Spark Investment Management LLC purchased a new position in shares of Obsidian Energy Ltd (NYSEAMERICAN:OBE) (TSE:PWT) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 97,000 shares of the oil and gas company’s stock, valued at approximately $595,000. Obsidian Energy accounts for 1.5% of Spark Investment Management LLC’s portfolio, making the stock its 17th largest holding.

A number of other large investors have also recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its holdings in Obsidian Energy by 11.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 937,349 shares of the oil and gas company’s stock worth $5,493,000 after acquiring an additional 96,428 shares during the period. UBS Group AG grew its stake in shares of Obsidian Energy by 460.2% in the 3rd quarter. UBS Group AG now owns 491,153 shares of the oil and gas company’s stock valued at $3,212,000 after buying an additional 403,486 shares during the period. Two Sigma Investments LP grew its stake in shares of Obsidian Energy by 90.2% in the 3rd quarter. Two Sigma Investments LP now owns 450,427 shares of the oil and gas company’s stock valued at $2,946,000 after buying an additional 213,601 shares during the period. First Trust Advisors LP grew its stake in shares of Obsidian Energy by 0.8% in the 3rd quarter. First Trust Advisors LP now owns 346,860 shares of the oil and gas company’s stock valued at $2,268,000 after buying an additional 2,818 shares during the period. Finally, Raymond James Financial Inc. grew its stake in shares of Obsidian Energy by 1.2% in the 3rd quarter. Raymond James Financial Inc. now owns 206,206 shares of the oil and gas company’s stock valued at $1,349,000 after buying an additional 2,397 shares during the period. 13.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Raymond James Financial upgraded Obsidian Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, March 30th. BMO Capital Markets restated an “outperform” rating on shares of Obsidian Energy in a research note on Tuesday, June 2nd. Finally, Royal Bank Of Canada raised their target price on Obsidian Energy from $14.00 to $18.00 and gave the company a “sector perform” rating in a research note on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $18.00.

Obsidian Energy Stock Performance

Shares of OBE opened at $11.06 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.58 and a quick ratio of 0.58. The stock has a 50-day moving average of $11.44 and a 200-day moving average of $8.55. The company has a market cap of $736.71 million, a PE ratio of -1,106.00 and a beta of 0.21. Obsidian Energy Ltd has a one year low of $5.08 and a one year high of $14.59.

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.