Obsidian Energy (NYSEAMERICAN:OBE) Shares Cross Above 200 Day Moving Average – Time to Sell?

Obsidian Energy Ltd (NYSEAMERICAN:OBE) (TSE:PWT) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.93 and traded as high as $11.84. Obsidian Energy shares last traded at $11.52, with a volume of 439,645 shares trading hands.

Analysts Set New Price Targets

Several brokerages have commented on OBE. Royal Bank Of Canada boosted their price target on shares of Obsidian Energy from $14.00 to $18.00 and gave the stock a “sector perform” rating in a research note on Monday, May 11th. BMO Capital Markets reiterated an “outperform” rating on shares of Obsidian Energy in a research report on Tuesday, June 2nd. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

Obsidian Energy Stock Up 0.8%

The firm has a market cap of $741.04 million, a P/E ratio of 39.64 and a beta of 0.15. The company’s 50-day simple moving average is $9.64 and its 200 day simple moving average is $9.96. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.78 and a quick ratio of 0.78.

Institutional Investors Weigh In On Obsidian Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quarry LP purchased a new position in shares of Obsidian Energy in the 3rd quarter worth approximately $31,000. State of Wyoming purchased a new position in Obsidian Energy during the first quarter worth $84,000. FNY Investment Advisers LLC bought a new position in Obsidian Energy during the second quarter valued at $81,000. Marks Group Wealth Management Inc purchased a new stake in shares of Obsidian Energy in the fourth quarter valued at $61,000. Finally, Qube Research & Technologies Ltd bought a new stake in shares of Obsidian Energy in the 2nd quarter worth about $56,000. 13.51% of the stock is currently 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. was founded in 1979 and is headquartered in Calgary, Canada.