Obsidian Energy (OBE) Given Consensus Recommendation of “Hold” by Brokerages
Obsidian Energy (NYSE:OBE) (TSE:PWT) has received a consensus recommendation of “Hold” from the ten research firms that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $2.25.
A number of equities research analysts have recently issued reports on OBE shares. Zacks Investment Research upgraded Obsidian Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. ValuEngine lowered Obsidian Energy from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. CIBC started coverage on Obsidian Energy in a research note on Wednesday, October 18th. They issued a “neutral” rating for the company. Finally, Canaccord Genuity set a $2.00 target price on Obsidian Energy and gave the company a “hold” rating in a research note on Wednesday, August 9th.
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Obsidian Energy (NYSE OBE) opened at 0.9771 on Thursday. The stock has a 50 day moving average price of $1.04 and a 200 day moving average price of $1.22. Obsidian Energy has a 52 week low of $0.82 and a 52 week high of $2.05. The stock’s market cap is $492.68 million.
Institutional investors and hedge funds have recently modified their holdings of the stock. BlueCrest Capital Management Ltd purchased a new position in Obsidian Energy in the second quarter valued at about $531,000. Proxima Capital Management LLC purchased a new position in Obsidian Energy in the second quarter valued at about $4,210,000. Adalta Capital Management LLC purchased a new position in Obsidian Energy in the second quarter valued at about $829,000. Toronto Dominion Bank purchased a new position in Obsidian Energy in the second quarter valued at about $338,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Obsidian Energy in the second quarter valued at about $106,000. 16.73% of the stock is owned by hedge funds and other institutional investors.
Obsidian Energy Company Profile
Obsidian Energy Ltd, formerly Penn West Petroleum Ltd, is a Canada-based conventional oil and natural gas producer and development and production company. The Company operates a portfolio of opportunities with an oil position in the Cardium, Viking and Peace River areas of Alberta. The Alberta Viking area offers a mix of light-oil and gas with high-netback shorter cycle wells to complement longer cycle activities in the Cardium.
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