Stock Traders Purchase Large Volume of Call Options on Obsidian Energy (NYSEAMERICAN:OBE)

Obsidian Energy Ltd (NYSEAMERICAN:OBE) (TSE:PWT) saw unusually large options trading activity on Thursday. Traders acquired 3,410 call options on the company. This is an increase of approximately 392% compared to the average volume of 693 call options.

Obsidian Energy Price Performance

OBE stock opened at $12.77 on Friday. The stock has a 50-day moving average price of $8.91 and a two-hundred day moving average price of $7.19. Obsidian Energy has a 12-month low of $3.88 and a 12-month high of $13.40. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.13. The company has a market cap of $850.61 million, a PE ratio of 38.70 and a beta of -0.10.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Royal Bank Of Canada upped their price objective on Obsidian Energy from $9.00 to $10.00 and gave the stock a “sector perform” rating in a report on Friday, February 20th. Raymond James Financial upgraded Obsidian Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, March 30th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $10.00.

Institutional Investors Weigh In On Obsidian Energy

A number of institutional investors have recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in Obsidian Energy during the 3rd quarter worth $31,000. Qube Research & Technologies Ltd purchased a new stake in Obsidian Energy during the 2nd quarter worth $56,000. Marks Group Wealth Management Inc purchased a new stake in Obsidian Energy during the 4th quarter worth $61,000. Caitong International Asset Management Co. Ltd boosted its position in Obsidian Energy by 1,209.9% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 11,632 shares of the oil and gas company’s stock worth $71,000 after purchasing an additional 10,744 shares during the period. Finally, HRT Financial LP purchased a new stake in Obsidian Energy during the 4th quarter worth $77,000. Hedge funds and other institutional investors own 13.51% of the company’s stock.

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.