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

Obsidian Energy Ltd (NYSEAMERICAN:OBE) (TSE:PWT) saw unusually large options trading on Thursday. Stock traders bought 3,410 call options on the company. This is an increase of approximately 392% compared to the average volume of 693 call options.

Obsidian Energy Stock Up 4.7%

OBE stock traded up $0.59 during mid-day trading on Thursday, reaching $12.98. The company had a trading volume of 894,255 shares, compared to its average volume of 787,774. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.54 and a quick ratio of 0.54. The stock has a 50 day simple moving average of $8.80 and a two-hundred day simple moving average of $7.15. The company has a market capitalization of $864.26 million, a price-to-earnings ratio of 39.21 and a beta of -0.10. Obsidian Energy has a 52 week low of $3.88 and a 52 week high of $13.40.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Quarry LP bought a new position in Obsidian Energy in the third quarter valued at approximately $31,000. Qube Research & Technologies Ltd bought a new position in Obsidian Energy in the second quarter valued at approximately $56,000. Marks Group Wealth Management Inc bought a new position in Obsidian Energy in the fourth quarter valued at approximately $61,000. Caitong International Asset Management Co. Ltd grew its stake in Obsidian Energy by 1,209.9% in the fourth 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 in the last quarter. Finally, HRT Financial LP bought a new position in Obsidian Energy in the fourth quarter valued at approximately $77,000. 13.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on OBE shares. Raymond James Financial raised Obsidian Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, March 30th. Royal Bank Of Canada raised their price target on Obsidian Energy from $9.00 to $10.00 and gave the stock a “sector perform” rating in a research report on Friday, February 20th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $10.00.

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.