Obsidian Energy (NYSE:OBE) Upgraded by ValuEngine to Hold

ValuEngine upgraded shares of Obsidian Energy (NYSE:OBE) (TSE:PWT) from a sell rating to a hold rating in a research report sent to investors on Thursday morning, ValuEngine reports.

Several other equities research analysts also recently issued reports on the stock. Zacks Investment Research lowered shares of Obsidian Energy from a buy rating to a hold rating in a report on Thursday, July 18th. CIBC reaffirmed a hold rating and issued a $1.50 price objective on shares of Obsidian Energy in a research report on Tuesday, June 25th. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The stock currently has an average rating of Hold and a consensus target price of $1.00.

Shares of NYSE OBE remained flat at $$1.00 during mid-day trading on Thursday. The stock had a trading volume of 223,591 shares, compared to its average volume of 205,493. The firm has a market capitalization of $72.98 million, a PE ratio of -0.34 and a beta of 3.19. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.46 and a quick ratio of 0.46. The stock has a fifty day moving average of $1.07. Obsidian Energy has a 52 week low of $0.89 and a 52 week high of $7.56.

Obsidian Energy (NYSE:OBE) (TSE:PWT) last posted its earnings results on Friday, May 10th. The oil and gas company reported ($0.08) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.08). Obsidian Energy had a negative return on equity of 14.03% and a negative net margin of 69.98%. The business had revenue of $77.47 million during the quarter. As a group, analysts predict that Obsidian Energy will post -1.05 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in OBE. Moors & Cabot Inc. boosted its stake in shares of Obsidian Energy by 81.5% during the 1st quarter. Moors & Cabot Inc. now owns 118,000 shares of the oil and gas company’s stock worth $32,000 after buying an additional 53,000 shares during the last quarter. Grace & White Inc. NY boosted its stake in shares of Obsidian Energy by 150.7% during the 1st quarter. Grace & White Inc. NY now owns 1,007,434 shares of the oil and gas company’s stock worth $277,000 after buying an additional 605,584 shares during the last quarter. GMT Capital Corp boosted its stake in shares of Obsidian Energy by 595.0% during the 1st quarter. GMT Capital Corp now owns 1,260,081 shares of the oil and gas company’s stock worth $347,000 after buying an additional 1,078,787 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of Obsidian Energy by 1,840.7% during the 4th quarter. Deutsche Bank AG now owns 1,229,637 shares of the oil and gas company’s stock worth $495,000 after buying an additional 1,166,276 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Obsidian Energy during the 4th quarter worth about $2,692,000. 13.21% of the stock is owned by hedge funds and other institutional investors.

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.

Featured Article: Total Return

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Obsidian Energy (NYSE:OBE)

Receive News & Ratings for Obsidian Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Obsidian Energy and related companies with MarketBeat.com's FREE daily email newsletter.