Luminus Management LLC increased its position in shares of Obsidian Energy Ltd (NYSE:OBE) (TSE:PWT) by 55.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,700,000 shares of the oil and gas company’s stock after buying an additional 606,900 shares during the period. Luminus Management LLC owned 0.34% of Obsidian Energy worth $2,108,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. FrontFour Capital Group LLC increased its holdings in Obsidian Energy by 7.3% during the third quarter. FrontFour Capital Group LLC now owns 19,471,990 shares of the oil and gas company’s stock worth $20,446,000 after buying an additional 1,323,990 shares during the last quarter. Contrarius Investment Management Ltd increased its holdings in Obsidian Energy by 1.6% during the third quarter. Contrarius Investment Management Ltd now owns 13,745,390 shares of the oil and gas company’s stock worth $14,433,000 after buying an additional 211,373 shares during the last quarter. Proxima Capital Management LLC increased its holdings in Obsidian Energy by 3.2% during the fourth quarter. Proxima Capital Management LLC now owns 3,755,000 shares of the oil and gas company’s stock worth $4,656,000 after buying an additional 115,000 shares during the last quarter. Legal & General Group Plc acquired a new position in Obsidian Energy during the third quarter worth $1,330,000. Finally, Vertex One Asset Management Inc. acquired a new position in Obsidian Energy during the fourth quarter worth $1,564,000. Institutional investors and hedge funds own 20.14% of the company’s stock.
OBE has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Obsidian Energy from a “sell” rating to a “hold” rating in a report on Thursday, November 16th. ValuEngine downgraded shares of Obsidian Energy from a “sell” rating to a “strong sell” rating in a report on Sunday, December 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $1.86.
Obsidian Energy (NYSE:OBE) (TSE:PWT) last released its quarterly earnings data on Wednesday, March 7th. The oil and gas company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.02). Obsidian Energy had a negative net margin of 19.20% and a negative return on equity of 3.92%. The company had revenue of $93.70 million during the quarter. analysts anticipate that Obsidian Energy Ltd will post -0.23 EPS for the current year.
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About Obsidian Energy
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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