Obsidian Energy (NYSE:OBE) (TSE:PWT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report 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. “
A number of other equities analysts have also weighed in on the company. CIBC started coverage on Obsidian Energy in a research note on Wednesday, October 18th. They set a “neutral” rating for the company. ValuEngine lowered Obsidian Energy from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Royal Bank Of Canada lifted their price objective on Obsidian Energy from $1.45 to $1.71 and gave the company a “sector perform” rating in a research note on Monday, November 13th. Raymond James Financial, Inc. upgraded Obsidian Energy from a “mkt perform” rating to an “outperform” rating in a research note on Friday, November 10th. Finally, UBS AG upgraded Obsidian Energy from a “market perform” rating to an “outperform” rating in a research note on Friday, November 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. Obsidian Energy presently has a consensus rating of “Hold” and a consensus price target of $2.10.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC purchased a new position in shares of Obsidian Energy in the 2nd quarter valued at about $106,000. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Obsidian Energy by 145.3% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 121,227 shares of the oil and gas company’s stock valued at $128,000 after purchasing an additional 71,798 shares in the last quarter. Toronto Dominion Bank purchased a new position in shares of Obsidian Energy in the 2nd quarter valued at about $338,000. Lorber David A increased its stake in shares of Obsidian Energy by 18.7% in the 3rd quarter. Lorber David A now owns 317,000 shares of the oil and gas company’s stock valued at $333,000 after purchasing an additional 50,000 shares in the last quarter. Finally, BlueCrest Capital Management Ltd purchased a new position in shares of Obsidian Energy in the 2nd quarter valued at about $531,000. Institutional investors and hedge funds own 16.70% of the company’s stock.
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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