Obsidian Energy (OBE.TO) Buy, Sell or Hold

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Obsidian Energy (OBE.TO)

15.85

-0.51 (3.12%)

as of Aug 28, 2026, 8:00:00 pm Market Open.

127 watching

Investor Insights

Aug 30, 2026, 12:00 am

This summary was created by AI, based on 2 opinions in the last 12 months.

Obsidian Energy (OBE-T) is currently a focus for several analysts, primarily due to its substantial exposure to oil and gas, with a favorable mix of approximately 70% oil and 30% gas. The market has shown enthusiasm this summer regarding its Clearwater exposure, suggesting potential for growth. Furthermore, the company possesses significant tax pools, implying that it may avoid tax payments for a decade, adding to its investment appeal. However, some experts highlight that the company's CEO is somewhat contentious, and despite reasonable well results, its small market cap renders it less relevant for institutional investors. This creates a conflicting perspective on whether it's a worthwhile investment, with some suggesting cautious holding for existing investors.

Consensus

Hold

Valuation

Undervalued

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TOP PICK

Oil focused. Announced a distribution cut, which was an overhang as no one knew what was going to happen. Have entered into several very smart joint ventures to develop fields and reserves that could add 1 billion barrels or more at virtually no cost to them.

DON'T BUY

Cut distribution by about 40%. Have always had problems with their capital efficiencies compared to their peers. Started farming out some of their massive land holdings, which helps, but until he can this demonstrated he wn’t own.

BUY

Fantastic lands and management that is a little cautious. The more they can farm out properties and get them developed quicker would be good for them.

HOLD

It’s a great strategy that they have with China and Mitsubishi. In both cases the partner is picking up more than half the cost. This name he rates a hold because it is quite large (5’th). Everything is looking good but they have not given any clarity as to what will happen post-conversion.

BUY

Latest quarter was in line with expectations. It is one of the larger of the energy producer trusts. Thinks it will do quite well. Post change, distribution will be between $1.20 to $1.40.

BUY

$1.8 billion investment by the China Investment Corp. Deal is structured to develop the oil sands play, Seal and they pay almost all the costs up front and Penn West gets 55% of the cash flow and/or oil from future development.

HOLD

Have huge land holdings. Will either sell some off or get taken out. May not be able to maintain payout when they go corporate.

WAIT

Has had a chequered past in terms of being able to deliver on expectations. Would rather wait until he sees signs of a turnaround. Chinese have invested but he thinks this is more of a passive investment.

DON'T BUY

Traditionally had problems with capital efficiencies, replacing barrels they lost through natural decline. Made an interesting deal with a Chinese company to exploit some of their land that they couldn't handle. Expecting a cut in distributions when they convert. Would like to see them improve profitability and capital efficiencies.

BUY

(Market Call Minute.) One of the more dominant trusts in its field. Well priced and the yield is reasonable.

BUY

(Market Call Minute.) Has a tremendous menu of drilling targets.

SELL

China Investment Corp. made an investment, spending over $300 million in Peace River Arch area to bring it into production for 45% of production. (Penn West gets 55% at no cost.) Also, CIC has bought a 5% interest in Penn West. Thinks this will be a long-term trend. Putting disparate pieces together in their more conventional assets has been a challenge. Just announced a cut in distributions. If you own for income, there are better opportunities.

WEAK BUY

Non-core holding. Great assets and reasonable yield but development of assets is slow. Thinks they should bring in partners.

SELL

Have been pounding the table on their drilling in the Cardium. They are very big so have to find a lot more oil/gas to keep the production needle moving higher. Prefers Suncor (SU-T). If you own, he would be tempted to Sell this and buy Suncor. (See Top Picks.)

BUY

Has entered into a strategic agreement with the Chinese company. This was a vote of confidence. With the cash infusion, they get a strong financial partner and allows them to pay some of their debt off. Have a lot of great assets. Very diverse. 9% yield.

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