Obsidian Energy | StockChase
571
Obsidian Energy (OBE-T)

Last Price Recorded: $1.6000 on 2017-11-17

ON STOCKCHASE SINCE Jan 2004

Formerly Penn West Petroleum (June 2017)

oil/gas

Obsidian Energy


Signal Opinion Expert

2017-09-26

COMMENT
Obsidian Energy (OBE-T)

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 Investment Letter

Price: $1.350
Owned: Yes

2017-08-14

BUY
Obsidian Energy (OBE-T)

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 Investment Letter

Price: $1.180
Owned: Yes

2017-06-08

TOP PICK
Obsidian Energy (OBE-T)

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 Investment Letter

Price: $1.790
Owned: Yes

2017-05-29

HOLD
Obsidian Energy (OBE-T)

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

Price: $1.970
Owned: Unknown

2017-05-23

COMMENT
Obsidian Energy (OBE-T)

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

Portfolio Manager, Sprott Assett Management

Price: $2.140
Owned: No

2017-04-03

BUY
Obsidian Energy (OBE-T)

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 Investment Letter

Price: $2.270
Owned: Yes

2017-03-28

HOLD
Obsidian Energy (OBE-T)

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

Price: $2.190
Owned: Unknown

2017-02-07

TOP PICK
Obsidian Energy (OBE-T)

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 Investment Letter

Price: $2.150
Owned: Yes

2017-01-31

COMMENT
Obsidian Energy (OBE-T)

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

Portfolio Manager, Sprott Assett Management

Price: $2.220
Owned: No

2017-01-09

DON'T BUY
Obsidian Energy (OBE-T)

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 Management

Price: $2.580
Owned: Unknown

2017-01-03

COMMENT
Obsidian Energy (OBE-T)

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 Equity Trading Portfolio Adviso

Price: $2.420
Owned: Unknown

2016-12-28

WAIT
Obsidian Energy (OBE-T)

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.

Price: $2.330
Owned: Unknown

2016-12-22

HOLD
Obsidian Energy (OBE-T)

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 Investment Letter

Price: $2.350
Owned: Yes

2016-12-06

COMMENT
Obsidian Energy (OBE-T)

Feels that a lot of the street and analysts that will be covering this company, don’t know much about the new CEO. Thinks very highly of him. As the company goes through this period of divestitures, he thinks they are going to get down to 25,000 barrels of equivalent, and will be a much stronger company and much more focused. They are in the process of deleveraging their balance sheet, and thinks they are almost there. One to keep on your radar screen.

oil/gas
Mason Granger

Portfolio Manager, Sentry Investments

Price: $2.430
Owned: Unknown

2016-10-14

HOLD
Obsidian Energy (OBE-T)

Thinks this has a fair amount of gas in its production. Although energy stocks in general have not been doing that well, the price of gas has just entered into a period of seasonal strength. Technically the chart is showing an improvement with the stock moving in an upward trend. Buy it for a move until around the 2nd week in December.

oil/gas
Don Vialoux

Research Analyst, TimingTheMarket.CA & EquityClock.COM

Price: $2.450
Owned: Unknown

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