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

Obsidian Energy Ltd (NYSEAMERICAN:OBE) (TSE:PWT) gapped up prior to trading on Thursday. The stock had previously closed at $10.63, but opened at $11.01. Obsidian Energy shares last traded at $10.9450, with a volume of 50,399 shares changing hands.

Analyst Ratings Changes

Separately, Raymond James Financial reissued an “outperform” rating on shares of Obsidian Energy in a research report on Wednesday, September 16th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Obsidian Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

Obsidian Energy Stock Performance

The company has a market cap of $735.59 million, a PE ratio of 39.71 and a beta of 0.35. The stock has a 50 day simple moving average of $11.23 and a two-hundred day simple moving average of $10.74. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.78 and a quick ratio of 0.78.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Engineers Gate Manager LP boosted its stake in shares of Obsidian Energy by 5.6% during the second quarter. Engineers Gate Manager LP now owns 31,014 shares of the oil and gas company’s stock worth $252,000 after buying an additional 1,636 shares during the period. State of Wyoming acquired a new position in Obsidian Energy in the 1st quarter valued at about $84,000. FNY Investment Advisers LLC acquired a new position in Obsidian Energy in the 2nd quarter valued at about $81,000. Caitong International Asset Management Co. Ltd raised its stake in 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 acquiring an additional 10,744 shares during the last quarter. Finally, Post Resch Tallon Group Inc. purchased a new stake in Obsidian Energy during the 2nd quarter valued at approximately $122,000. 13.51% of the stock is owned by hedge funds and other institutional investors.

About Obsidian Energy

Obsidian Energy Ltd. is a Canadian oil and natural gas exploration and production company focused on developing and producing crude oil, natural gas liquids and natural gas. The company’s operations are concentrated in Alberta, where it holds interests in the Peace River, Cardium and Clearwater areas.

The company’s portfolio includes light-oil, heavy-oil and natural-gas properties. Its activities cover the exploration, development and production of hydrocarbons, supported by infrastructure and land positions in Western Canada.

Obsidian Energy was previously known as Penn West Petroleum Ltd.