Obsidian Energy Ltd. (AMEX: OBE) stock fell -2.97% on Tuesday to $6.53 against a previous-day closing price of $6.73. With 0.56 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.65 million shares. During the session, the Oil & Gas E&P company that operates in wider Energy sector, reached to the highest price of $6.81 whereas the lowest price it dropped to was $6.52. The 52-week range on OBE shows that it touched its highest point at $12.52 and its lowest point at $5.21 during that stretch. It currently has a 1-year price target of $10.00. Beta for the stock currently stands at 2.85.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of OBE was down-trending over the past week, with a drop of -1.80%, but this was down by -1.95% over a month. Three-month performance dropped to -23.54% while six-month performance fell -11.76%. The stock gained 11.24% in the past year, while it has lost -1.66% so far this year. A look at the trailing 12-month EPS for OBE yields 2.38 with Next year EPS estimates of 3.43. For the next quarter, that number is 0.61. This implies an EPS growth rate of -49.40% for this year and 25.64% for next year. EPS is expected to grow by 9.30% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 20.60%.
Float and Shares Shorts:
At present, 82.20 million OBE shares are outstanding with a float of 81.76 million shares on hand for trading. On Oct 13, 2022, short shares totaled 0.88 million, which was 1.07% higher than short shares on Sep 14, 2022. In addition to Mr. Stephen Elias Loukas as the firm’s Interim Pres, CEO & Director, Mr. Peter D. Scott serves as its Sr. VP & CFO.
Through their ownership of 20.83% of OBE’s outstanding shares, institutional investors have minority control over the company. Other institutions hold — of OBE, in contrast to — held by mutual funds. Shares owned by individuals account for –. With a 0.82% stake in OBE, the MDPIM Canadian Equity Pool is the largest stakeholder. A total of 673,047 shares are owned by the mutual fund manager. The New Zealand Superannuation Fund, which owns about 0.70% of OBE stock, is the second-largest Mutual Fund holder. It holds 570,675 shares valued at 3.79 million. First Trust Natural Gas ETF holds 0.56% of the stake in OBE, owning 456,752 shares worth 3.03 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for OBE since 4 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 2 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With OBE analysts setting a high price target of $10.08 and a low target of $8.21, the average target price over the next 12 months is $9.04. Based on these targets, OBE could surge 54.36% to reach the target high and rise by 25.73% to reach the target low. Reaching the average price target will result in a growth of 38.44% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. OBE will report FY 2022 earnings on 02/22/2024. Analysts have provided yearly estimates in a range of $2.36 being high and $1.89 being low. For OBE, this leads to a yearly average estimate of $2.09. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Obsidian Energy Ltd. surprised analysts by -$0.14 when it reported $0.36 EPS against a consensus estimate of $0.49. The surprise factor in the prior quarter was $0.23. Based on analyst estimates, the high estimate for the next quarter is $0.46 and the low estimate is $0.33. The average estimate for the next quarter is thus $0.39.