Obsidian Energy | StockChase
573
Obsidian Energy (OBE-T)

Last Price Recorded: $1.5000 on 2018-01-18

ON STOCKCHASE SINCE Jan 2004

Formerly Penn West Petroleum (June 2017)

oil/gas
573
Obsidian Energy (OBE-T)

Last Price Recorded: $1.5000 on 2018-01-18

ON STOCKCHASE SINCE Jan 2004

Formerly Penn West Petroleum (June 2017)

oil/gas

Obsidian Energy


Signal Opinion Expert
PAST TOP PICK
Obsidian Energy(OBE-T) 

January 16, 2018

(A Top Pick Feb 7/17. Down 27%.) Just came out with results yesterday, and had some good results in the Cardium, one of their 3 areas. Have had difficulties in the past with the SEC, and settled a while ago for $48.6 million. If this gets put in play. He thinks they are looking at double digit growth in terms of output. Still has a big debt load relative to revenues. A good turnaround opportunity, and could end up doing very well.

oil/gas

(A Top Pick Feb 7/17. Down 27%.) Just came out with results yesterday, and had some good results in the Cardium, one of their 3 areas. Have had difficulties in the past with the SEC, and settled a while ago for $48.6 million. If this gets put in play. He thinks they are looking at double digit growth in terms of output. Still has a big debt load relative to revenues. A good turnaround opportunity, and could end up doing very well.

oil/gas
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$1.520
Owned Owned
Yes

DON'T BUY
Obsidian Energy(OBE-T) 

January 5, 2018

He would not own this, despite his admiration for the CEO. The CEO inherited a hodgepodge of old, mature, tired assets with a couple of exceptions. The trouble is that he is exposed to liabilities, higher operating costs and leverage is at the upper end.

oil/gas

He would not own this, despite his admiration for the CEO. The CEO inherited a hodgepodge of old, mature, tired assets with a couple of exceptions. The trouble is that he is exposed to liabilities, higher operating costs and leverage is at the upper end.

oil/gas
Eric Nuttall

Partner & Senior Portfolio Manager, Ninepoint Partners...

PricePrice
$1.560
Owned Owned
No

COMMENT
Obsidian Energy(OBE-T) 

September 26, 2017

He’s lost a fair bit of money on this, but is happy to hold. The major problem they are facing is with the SEC. They thought they had settled and it appeared everything was good, but now the SEC has come back after them. That is ultimately going to cost them time and money. It is the kind of a distraction that a company really doesn’t need. Expects there will be some tax loss selling towards the end of the year, so you may be able to get in at a better price.

oil/gas

He’s lost a fair bit of money on this, but is happy to hold. The major problem they are facing is with the SEC. They thought they had settled and it appeared everything was good, but now the SEC has come back after them. That is ultimately going to cost them time and money. It is the kind of a distraction that a company really doesn’t need. Expects there will be some tax loss selling towards the end of the year, so you may be able to get in at a better price.

oil/gas
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$1.350
Owned Owned
Yes

BUY
Obsidian Energy(OBE-T) 

August 14, 2017

The former Penn West.  This is a company he has lost money on.  They sold off an incredible amount of their assets.  The CEO used to be the CEO of another company that had properties in Albania and was taken over.  It would not surprise him if they sell this company, too.  He is still happy to hold it though.

oil/gas

The former Penn West.  This is a company he has lost money on.  They sold off an incredible amount of their assets.  The CEO used to be the CEO of another company that had properties in Albania and was taken over.  It would not surprise him if they sell this company, too.  He is still happy to hold it though.

oil/gas
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$1.180
Owned Owned
Yes

TOP PICK
Obsidian Energy(OBE-T) 

June 8, 2017

They had to bring their debt down.  It was one of two blow outs he had in the last while.  He had faith in management.  They turned it around.  They are going to change the name.  (Analysts' target: $2.50).

oil/gas

They had to bring their debt down.  It was one of two blow outs he had in the last while.  He had faith in management.  They turned it around.  They are going to change the name.  (Analysts' target: $2.50).

oil/gas
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$1.790
Owned Owned
Yes

HOLD
Obsidian Energy(OBE-T) 

May 29, 2017

It is no longer at risk of default.  It was the largest oil and gas income trust, mature assets.  He is just not sure what they have left now that they have sold off so much to pay down the debt.  He would not be buying as it is a hold at best.

oil/gas

It is no longer at risk of default.  It was the largest oil and gas income trust, mature assets.  He is just not sure what they have left now that they have sold off so much to pay down the debt.  He would not be buying as it is a hold at best.

oil/gas
Teal Linde

Portfolio Manager & Publisher, Linde Equity Report, Linde Equity Report...

PricePrice
$1.970
Owned Owned
Unknown

COMMENT
Obsidian Energy(OBE-T) 

May 23, 2017

They had a management upgrade when they brought David French in. Have done a good job of selling off assets and paying down debt. Now they are in a pretty good position. They would be growing production in 2018 X 17%, and are trading at 6X enterprise value to cash flow. However, the average US company in 2018 is going to grow production by 47%, which is 10X this company’s growth rate.

oil/gas

They had a management upgrade when they brought David French in. Have done a good job of selling off assets and paying down debt. Now they are in a pretty good position. They would be growing production in 2018 X 17%, and are trading at 6X enterprise value to cash flow. However, the average US company in 2018 is going to grow production by 47%, which is 10X this company’s growth rate.

oil/gas
Eric Nuttall

Partner & Senior Portfolio Manager, Ninepoint Partners...

PricePrice
$2.140
Owned Owned
No

BUY
Obsidian Energy(OBE-T) 

April 3, 2017

He lost money on it.  He held it.  He likes where they are moving now.  The likelihood of it being sold is greater than before.

oil/gas

He lost money on it.  He held it.  He likes where they are moving now.  The likelihood of it being sold is greater than before.

oil/gas
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$2.270
Owned Owned
Yes

HOLD
Obsidian Energy(OBE-T) 

March 28, 2017

She does not see a takeover happening.  It is an interesting company, having gone through quite a transformation, selling a lot of assets, and changing management team.  Analysts are impressed with this new team.  She believes they will cut costs and focus them in their core area.  She sees funded growth for this company.

oil/gas

She does not see a takeover happening.  It is an interesting company, having gone through quite a transformation, selling a lot of assets, and changing management team.  Analysts are impressed with this new team.  She believes they will cut costs and focus them in their core area.  She sees funded growth for this company.

oil/gas
Swanzy Quarshie

Portfolio Manager, Sentry Investments...

PricePrice
$2.190
Owned Owned
Unknown

TOP PICK
Obsidian Energy(OBE-T) 

February 7, 2017

This has been a turnaround/repair story. He didn’t sell when it hit bottom, and since then it has tripled. They had about $2.5 billion in debt, which is now under $500 million. Their capital budget is $180 million, and they estimate the production growth will be about 15% before the end of the year. Of course, a lot of this comes down to oil/gas prices. (Analysts’ price target is $2.76.)

oil/gas

This has been a turnaround/repair story. He didn’t sell when it hit bottom, and since then it has tripled. They had about $2.5 billion in debt, which is now under $500 million. Their capital budget is $180 million, and they estimate the production growth will be about 15% before the end of the year. Of course, a lot of this comes down to oil/gas prices. (Analysts’ price target is $2.76.)

oil/gas
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$2.150
Owned Owned
Yes

COMMENT
Obsidian Energy(OBE-T) 

January 31, 2017

A turnaround story led by David French. The company’s problem was deleveraging, which they have done a good job in fixing. Looking at valuations relative to some of its peers, he prefers them. They still have some dwindling down of assets and further refocusing.

oil/gas

A turnaround story led by David French. The company’s problem was deleveraging, which they have done a good job in fixing. Looking at valuations relative to some of its peers, he prefers them. They still have some dwindling down of assets and further refocusing.

oil/gas
Eric Nuttall

Partner & Senior Portfolio Manager, Ninepoint Partners...

PricePrice
$2.220
Owned Owned
No

DON'T BUY
Obsidian Energy(OBE-T) 

January 9, 2017

He would not buy it right now because WTI will get a $10-$20 price erosion this year.  The stock has gone up after people stopped worrying about them being able to repay their debt.  The stock will go down if there is a retreat in the price of oil.

oil/gas

He would not buy it right now because WTI will get a $10-$20 price erosion this year.  The stock has gone up after people stopped worrying about them being able to repay their debt.  The stock will go down if there is a retreat in the price of oil.

oil/gas
Josef Schachter

President, Schachter Asset Mana...

PricePrice
$2.580
Owned Owned
Unknown

COMMENT
Obsidian Energy(OBE-T) 

January 3, 2017

Everything that we know about the company is in the price right now. The volume is low and the stock is kind of flatlining here a little. You could be a buyer, but there are others he likes better. If crude is going to move, he’s not sure this stock will.

oil/gas

Everything that we know about the company is in the price right now. The volume is low and the stock is kind of flatlining here a little. You could be a buyer, but there are others he likes better. If crude is going to move, he’s not sure this stock will.

oil/gas
Elliot Fishman

Director, US & International E...

PricePrice
$2.420
Owned Owned
Unknown

WAIT
Obsidian Energy(OBE-T) 

December 28, 2016

Unfortunately, the way the markets are focused on every little bit of data, there will be a move based in a large part on what the commodity is doing. January, for this company, traditionally has a pretty soft patch that dovetails with the overall market. Wait until early February, and then look at this again.

oil/gas

Unfortunately, the way the markets are focused on every little bit of data, there will be a move based in a large part on what the commodity is doing. January, for this company, traditionally has a pretty soft patch that dovetails with the overall market. Wait until early February, and then look at this again.

oil/gas
Hap (Robert) Sneddon FCSI

Chief Portfolio Manager & Founder, Castlemoore Inc....

PricePrice
$2.330
Owned Owned
Unknown

HOLD
Obsidian Energy(OBE-T) 

December 22, 2016

It was one of the worst mistakes he made of the last couple years.  He hopes to sell it at $12-$14.  He didn’t think this company would get into so much trouble.  Since then they have paid off a lot of debt and now he is happy to hold it.  The CEO came from Bankers and it was a top pick of his.  There is one insider buying a lot of shares.  He likes it and plans on holing it.

oil/gas

It was one of the worst mistakes he made of the last couple years.  He hopes to sell it at $12-$14.  He didn’t think this company would get into so much trouble.  Since then they have paid off a lot of debt and now he is happy to hold it.  The CEO came from Bankers and it was a top pick of his.  There is one insider buying a lot of shares.  He likes it and plans on holing it.

oil/gas
Benj Gallander

President, Contra the Heard Inv...

PricePrice
$2.350
Owned Owned
Yes

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