Zacks: Brokerages Anticipate Obsidian Energy (OBE) Will Announce Earnings of -$0.05 Per Share
Wall Street brokerages expect Obsidian Energy (NYSE:OBE) (TSE:PWT) to report earnings of ($0.05) per share for the current quarter, according to Zacks. Zero analysts have made estimates for Obsidian Energy’s earnings. Obsidian Energy reported earnings per share of ($0.35) in the same quarter last year, which would suggest a positive year over year growth rate of 85.7%. The firm is expected to issue its next quarterly earnings results on Wednesday, November 1st.
On average, analysts expect that Obsidian Energy will report full year earnings of ($0.08) per share for the current fiscal year, with EPS estimates ranging from ($0.11) to ($0.05). For the next financial year, analysts expect that the company will post earnings of ($0.23) per share, with EPS estimates ranging from ($0.30) to ($0.16). Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Obsidian Energy.
Several brokerages have recently weighed in on OBE. ValuEngine cut shares of Obsidian Energy from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. CIBC assumed coverage on shares of Obsidian Energy in a research report on Wednesday, October 18th. They issued a “neutral” rating on the stock. Zacks Investment Research raised shares of Obsidian Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Finally, Canaccord Genuity set a $2.00 price target on shares of Obsidian Energy and gave the stock a “hold” rating in a research note on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $2.37.
Obsidian Energy (NYSE:OBE) traded down 1.00% during trading on Tuesday, reaching $0.99. 2,155,187 shares of the company’s stock traded hands. The firm’s market capitalization is $499.18 million. Obsidian Energy has a one year low of $0.82 and a one year high of $2.05. The company has a 50-day moving average price of $1.04 and a 200 day moving average price of $1.22.
Several hedge funds have recently made changes to their positions in the company. Toronto Dominion Bank purchased a new position in shares of Obsidian Energy in the second quarter valued at $338,000. Adalta Capital Management LLC purchased a new stake in Obsidian Energy during the 2nd quarter worth about $829,000. Proxima Capital Management LLC purchased a new stake in Obsidian Energy during the 2nd quarter worth about $4,210,000. Cubist Systematic Strategies LLC purchased a new stake in Obsidian Energy during the 2nd quarter worth about $106,000. Finally, BlueCrest Capital Management Ltd purchased a new stake in Obsidian Energy during the 2nd quarter worth about $531,000. Institutional investors and hedge funds own 16.73% of the company’s stock.
About Obsidian Energy
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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