Stock Traders Buy High Volume of Obsidian Energy Call Options (NYSEAMERICAN:OBE)

Obsidian Energy Ltd (NYSEAMERICAN:OBE) (TSE:PWT) saw some unusual options trading on Monday. Traders bought 3,191 call options on the company. This represents an increase of approximately 43% compared to the typical volume of 2,224 call options.

Obsidian Energy Stock Performance

OBE traded down $0.24 during midday trading on Monday, reaching $12.72. The company had a trading volume of 651,258 shares, compared to its average volume of 835,875. The business has a 50-day moving average of $10.53 and a two-hundred day moving average of $10.35. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.25. Obsidian Energy has a 1 year low of $5.44 and a 1 year high of $14.59. The company has a market cap of $849.14 million, a P/E ratio of 45.44 and a beta of 0.18.

Hedge Funds Weigh In On Obsidian Energy

A number of hedge funds have recently modified their holdings of the company. Quarry LP bought a new stake in shares of Obsidian Energy during the 3rd quarter valued at $31,000. State of Wyoming bought a new position in Obsidian Energy in the 1st quarter worth $84,000. Marks Group Wealth Management Inc purchased a new stake in Obsidian Energy in the 4th quarter worth $61,000. FNY Investment Advisers LLC purchased a new stake in Obsidian Energy in the 2nd quarter worth $81,000. Finally, Qube Research & Technologies Ltd bought a new stake in Obsidian Energy during the second quarter valued at about $56,000. 13.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets reissued an “outperform” rating on shares of Obsidian Energy in a research report on Tuesday, June 2nd. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Obsidian Energy presently has an average rating of “Moderate Buy” and an average price target of $18.00.

About Obsidian Energy

Obsidian Energy Ltd. is a Canadian oil and natural gas exploration and production company. Its activities include the acquisition, development and operation of petroleum and natural gas properties, with a focus on generating production from conventional oil and liquids-rich natural gas assets.

The company’s operations are concentrated in Alberta, Canada, including the Peace River, Cardium and Pembina areas. Its products include crude oil, natural gas liquids and natural gas, which are sold into Canadian and North American energy markets.

Obsidian Energy was formerly known as Penn West Petroleum Ltd.