Obsidian Energy (OBE) Expected to Post Earnings of -$0.02 Per Share

Wall Street brokerages expect Obsidian Energy (NYSE:OBE) (TSE:PWT) to announce earnings of ($0.02) per share for the current quarter, according to Zacks. Zero analysts have made estimates for Obsidian Energy’s earnings. Obsidian Energy reported earnings of ($0.35) per share during the same quarter last year, which suggests a positive year-over-year growth rate of 94.3%. The firm is expected to report its next earnings report on Wednesday, November 1st.

On average, analysts expect that Obsidian Energy will report full-year earnings of ($0.06) per share for the current financial year, with EPS estimates ranging from ($0.11) to ($0.01). For the next financial year, analysts expect that the company will post earnings of ($0.18) per share, with EPS estimates ranging from ($0.30) to ($0.05). Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Obsidian Energy.

A number of analysts recently commented on OBE shares. Canaccord Genuity set a $2.00 price target on Obsidian Energy and gave the stock a “hold” rating in a report on Wednesday, August 9th. Zacks Investment Research upgraded Obsidian Energy from a “sell” rating to a “hold” rating in a report on Tuesday, August 15th. Finally, ValuEngine lowered Obsidian Energy from a “hold” rating to a “sell” rating in a report on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. Obsidian Energy presently has a consensus rating of “Hold” and a consensus price target of $2.37.

A number of large investors have recently added to or reduced their stakes in the business. Proxima Capital Management LLC purchased a new stake in Obsidian Energy in the second quarter worth $4,210,000. Royal Bank of Canada purchased a new stake in Obsidian Energy in the second quarter worth $1,219,000. Adalta Capital Management LLC purchased a new stake in Obsidian Energy in the second quarter worth $829,000. BlueCrest Capital Management Ltd purchased a new stake in Obsidian Energy in the second quarter worth $531,000. Finally, Toronto Dominion Bank purchased a new stake in Obsidian Energy in the second quarter worth $338,000. 16.69% of the stock is owned by institutional investors and hedge funds.

Obsidian Energy (NYSE:OBE) traded down 3.85% on Friday, hitting $1.00. The company’s stock had a trading volume of 759,442 shares. The stock’s market cap is $504.23 million. Obsidian Energy has a 12 month low of $0.82 and a 12 month high of $2.05. The firm has a 50 day moving average of $1.40 and a 200-day moving average of $1.61.

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Obsidian Energy Company Profile

Obsidian Energy Ltd, formerly Penn West Petroleum Ltd, is a Canada-based conventional oil and natural gas producer and development and production company. The Company operates a portfolio of opportunities with an oil position in the Cardium, Viking and Peace River areas of Alberta. The Alberta Viking area offers a mix of light-oil and gas with high-netback shorter cycle wells to complement longer cycle activities in the Cardium.

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