Obsidian Energy (NYSEAMERICAN:OBE) Stock Price Passes Above 200 Day Moving Average – Time to Sell?

Obsidian Energy Ltd (NYSEAMERICAN:OBE) (TSE:PWT)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.52 and traded as high as $12.32. Obsidian Energy shares last traded at $12.13, with a volume of 579,749 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on OBE. Raymond James Financial upgraded Obsidian Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, March 30th. BMO Capital Markets restated an “outperform” rating on shares of Obsidian Energy in a research note on Tuesday. Finally, Royal Bank Of Canada boosted their price objective on Obsidian Energy from $14.00 to $18.00 and gave the company a “sector perform” rating in a research note on Monday, May 11th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

Obsidian Energy Stock Down 0.4%

The stock has a 50 day moving average of $11.40 and a 200-day moving average of $8.52. The firm has a market capitalization of $807.98 million, a P/E ratio of -1,213.00 and a beta of 0.20. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.58 and a current ratio of 0.58.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its holdings in Obsidian Energy by 3,092.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 144,966 shares of the oil and gas company’s stock valued at $1,029,000 after buying an additional 140,425 shares in the last quarter. Versor Investments LP purchased a new position in Obsidian Energy during the 4th quarter valued at about $271,000. Quarry LP purchased a new position in Obsidian Energy during the 3rd quarter valued at about $31,000. Bank of America Corp DE grew its holdings in Obsidian Energy by 87.3% during the 1st quarter. Bank of America Corp DE now owns 642,321 shares of the oil and gas company’s stock valued at $6,083,000 after buying an additional 299,431 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Obsidian Energy by 5.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,369,948 shares of the oil and gas company’s stock valued at $12,973,000 after buying an additional 67,919 shares in the last quarter. Hedge funds and other institutional investors own 13.51% of the company’s stock.

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.