Obsidian Energy (NYSE:OBE) (TSE:PWT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday.
According to Zacks, “Obsidian Energy Ltd. is a conventional oil and natural gas producer and development company. Obsidian Energy Ltd, formerly known as Penn West Petroleum Ltd, is based in Calgary, Canada. “
Several other equities research analysts have also issued reports on the stock. ValuEngine lowered shares of Obsidian Energy from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Canaccord Genuity set a $2.00 target price on shares of Obsidian Energy and gave the stock a “hold” rating in a report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $2.37.
Obsidian Energy (OBE) opened at 1.06 on Thursday. The stock’s market cap is $534.48 million. Obsidian Energy has a 52-week low of $0.82 and a 52-week high of $2.05. The firm has a 50 day moving average of $1.40 and a 200-day moving average of $1.61.
ILLEGAL ACTIVITY WARNING: “Obsidian Energy (OBE) Lowered to “Sell” at Zacks Investment Research” was first published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this report on another site, it was stolen and reposted in violation of United States and international trademark and copyright law. The legal version of this report can be viewed at https://sportsperspectives.com/2017/10/12/obsidian-energy-obe-lowered-to-sell-at-zacks-investment-research.html.
Hedge funds have recently bought and sold shares of the stock. Toronto Dominion Bank purchased a new position in Obsidian Energy in the 2nd quarter worth about $338,000. Adalta Capital Management LLC purchased a new position in Obsidian Energy in the 2nd quarter worth about $829,000. Proxima Capital Management LLC purchased a new position in Obsidian Energy in the 2nd quarter worth about $4,210,000. Cubist Systematic Strategies LLC purchased a new position in Obsidian Energy in the 2nd quarter worth about $106,000. Finally, BlueCrest Capital Management Ltd purchased a new position in Obsidian Energy in the 2nd quarter worth about $531,000. 16.69% of the stock is currently owned by 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.
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.