Advisory Services Network LLC boosted its position in shares of Obsidian Energy Ltd (NYSE:OBE) (TSE:PWT) by 600.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 485,100 shares of the oil and gas company’s stock after purchasing an additional 415,800 shares during the period. Advisory Services Network LLC owned approximately 0.10% of Obsidian Energy worth $602,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FrontFour Capital Group LLC grew its holdings in Obsidian Energy by 7.3% during the 3rd quarter. FrontFour Capital Group LLC now owns 19,471,990 shares of the oil and gas company’s stock worth $20,446,000 after acquiring an additional 1,323,990 shares in the last quarter. Montrusco Bolton Investments Inc. acquired a new position in Obsidian Energy during the 4th quarter worth $1,195,000. GMT Capital Corp acquired a new position in Obsidian Energy during the 3rd quarter worth $1,323,000. Legal & General Group Plc acquired a new position in Obsidian Energy during the 3rd quarter worth $1,330,000. Finally, Toronto Dominion Bank acquired a new position in Obsidian Energy during the 2nd quarter worth $338,000. 20.14% of the stock is owned by institutional investors and hedge funds.
Shares of Obsidian Energy Ltd (OBE) traded down $0.02 during mid-day trading on Wednesday, reaching $0.92. 933,999 shares of the company’s stock traded hands, compared to its average volume of 1,893,794. Obsidian Energy Ltd has a 52 week low of $0.82 and a 52 week high of $1.76. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a market cap of $460.41, a price-to-earnings ratio of -7.08 and a beta of 4.51.
Obsidian Energy (NYSE:OBE) (TSE:PWT) last posted its quarterly earnings results 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 business had revenue of $93.70 million during the quarter. equities research analysts predict that Obsidian Energy Ltd will post -0.23 earnings per share for the current fiscal year.
Several brokerages have weighed in on OBE. ValuEngine lowered shares of Obsidian Energy from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd. Zacks Investment Research raised shares of Obsidian Energy from a “sell” rating to a “hold” rating in a report on Thursday, March 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $1.86.
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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.
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