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Obsidian Energy

TSX:OBE
Snowflake Description

Fair value with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
OBE
TSX
CA$20M
Market Cap
  1. Home
  2. CA
  3. Energy
Company description

Obsidian Energy Ltd. explores for, develops, and produces oil and natural gas in western Canada. The last earnings update was 145 days ago. More info.


Add to Portfolio Compare Print
  • Obsidian Energy has significant price volatility in the past 3 months.
OBE Share Price and Events
7 Day Returns
-11.1%
TSX:OBE
7%
CA Oil and Gas
7.1%
CA Market
1 Year Returns
-90.6%
TSX:OBE
-46%
CA Oil and Gas
-25.3%
CA Market
OBE Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Obsidian Energy (OBE) -11.1% -67.1% -73.3% -90.6% -98.5% -98.4%
CA Oil and Gas 7% -40.8% -46.8% -46% -53.7% -57.4%
CA Market 7.1% -24.1% -26.7% -25.3% -23.4% -17.5%
1 Year Return vs Industry and Market
  • OBE underperformed the Oil and Gas industry which returned -46% over the past year.
  • OBE underperformed the Market in Canada which returned -25.3% over the past year.
Price Volatility
OBE
Industry
5yr Volatility vs Market

Value

 Is Obsidian Energy undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Obsidian Energy to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Obsidian Energy.

TSX:OBE Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 12.3%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for TSX:OBE
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.4%
Equity Risk Premium S&P Global 5.4%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.83
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.825 (1 + (1- 26.5%) (2870.94%))
12.553
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.44% + (2 * 5.44%)
12.32%

Discounted Cash Flow Calculation for TSX:OBE using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Obsidian Energy is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

TSX:OBE DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CAD, Millions) Source Present Value
Discounted (@ 12.32%)
2020 1.00 Analyst x1 0.89
2021 12.00 Analyst x1 9.51
2022 8.00 Analyst x1 5.65
2023 5.97 Est @ -25.34% 3.75
2024 4.94 Est @ -17.31% 2.76
2025 4.36 Est @ -11.68% 2.17
2026 4.02 Est @ -7.75% 1.78
2027 3.82 Est @ -4.99% 1.51
2028 3.71 Est @ -3.06% 1.30
2029 3.64 Est @ -1.71% 1.14
Present value of next 10 years cash flows CA$30.00
TSX:OBE DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CA$3.64 × (1 + 1.44%) ÷ (12.32% – 1.44%)
CA$33.96
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CA$33.96 ÷ (1 + 12.32%)10
CA$10.63
TSX:OBE Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CA$30.00 + CA$10.63
CA$40.63
Equity Value per Share
(CAD)
= Total value / Shares Outstanding
= CA$40.63 / 73.02
CA$0.56
TSX:OBE Discount to Share Price
Calculation Result
Value per share (CAD) From above. CA$0.56
Current discount Discount to share price of CA$0.24
= -1 x (CA$0.24 - CA$0.56) / CA$0.56
56.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Obsidian Energy is available for.
Intrinsic value
>50%
Share price is CA$0.24 vs Future cash flow value of CA$0.55637
Current Discount Checks
For Obsidian Energy to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Obsidian Energy's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Obsidian Energy's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Obsidian Energy's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Obsidian Energy's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:OBE PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in CAD CA$-4.91
TSX:OBE Share Price ** TSX (2020-03-27) in CAD CA$0.24
Canada Oil and Gas Industry PE Ratio Median Figure of 55 Publicly-Listed Oil and Gas Companies 6.03x
Canada Market PE Ratio Median Figure of 497 Publicly-Listed Companies 10.58x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Obsidian Energy.

TSX:OBE PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:OBE Share Price ÷ EPS (both in CAD)

= 0.24 ÷ -4.91

-0.05x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Obsidian Energy is loss making, we can't compare its value to the CA Oil and Gas industry average.
  • Obsidian Energy is loss making, we can't compare the value of its earnings to the Canada market.
Price based on expected Growth
Does Obsidian Energy's expected growth come at a high price?
Raw Data
TSX:OBE PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -0.05x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
Not available
Canada Oil and Gas Industry PEG Ratio Median Figure of 29 Publicly-Listed Oil and Gas Companies -0.04x
Canada Market PEG Ratio Median Figure of 234 Publicly-Listed Companies 0.69x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Obsidian Energy, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Obsidian Energy's assets?
Raw Data
TSX:OBE PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in CAD CA$22.38
TSX:OBE Share Price * TSX (2020-03-27) in CAD CA$0.24
Canada Oil and Gas Industry PB Ratio Median Figure of 198 Publicly-Listed Oil and Gas Companies 0.39x
Canada Market PB Ratio Median Figure of 2,351 Publicly-Listed Companies 1x
TSX:OBE PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:OBE Share Price ÷ Book Value per Share (both in CAD)

= 0.24 ÷ 22.38

0.01x

* Primary Listing of Obsidian Energy.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Obsidian Energy is good value based on assets compared to the CA Oil and Gas industry average.
X
Value checks
We assess Obsidian Energy's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. Obsidian Energy has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Obsidian Energy expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
22.8%
Expected annual growth in earnings per share.
Earnings growth vs Low Risk Savings
Is Obsidian Energy expected to grow at an attractive rate?
  • Obsidian Energy's earnings growth is expected to exceed the low risk savings rate of 1.4%.
Growth vs Market Checks
  • Obsidian Energy's earnings growth is expected to exceed the Canada market average.
  • Obsidian Energy's revenue growth is positive but not above the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSX:OBE Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:OBE Future Earnings per Share Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 22.8%
TSX:OBE Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 0.2%
Canada Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average -3.7%
Canada Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 1.1%
Canada Market Earnings Growth Rate Market Cap Weighted Average 7.8%
Canada Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSX:OBE Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:OBE Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 148
2021-12-31 375 115 1
2020-12-31 386 119 1
2020-03-28
2019-12-31 397 128 1
TSX:OBE Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-09-30 360 47 -357
2019-06-30 386 58 -360
2019-03-31 395 41 -294
2018-12-31 408 99 -305
2018-09-30 446 87 -250
2018-06-30 423 105 -263
2018-03-31 412 144 -176
2017-12-31 420 125 -84
2017-09-30 419 74 -258
2017-06-30 439 -85 -446
2017-03-31 519 -160 -569
2016-12-31 586 -137 -696

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Obsidian Energy's earnings are expected to grow significantly at over 20% yearly.
  • Obsidian Energy's revenue is expected to grow by 0.2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSX:OBE Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Obsidian Energy Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:OBE Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31
2020-12-31 -3.47 -3.47 -3.47 1.00
2020-03-28
2019-12-31 -3.86 -3.86 -3.86 1.00
TSX:OBE Past Financials Data
Date (Data in CAD Millions) EPS *
2019-09-30 -4.91
2019-06-30 -4.96
2019-03-31 -4.06
2018-12-31 -4.22
2018-09-30 -3.46
2018-06-30 -3.65
2018-03-31 -2.44
2017-12-31 -1.17
2017-09-30 -3.59
2017-06-30 -6.21
2017-03-31 -7.93
2016-12-31 -9.70

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Obsidian Energy will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Obsidian Energy's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Obsidian Energy has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Obsidian Energy performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Obsidian Energy's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Obsidian Energy does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Obsidian Energy's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Obsidian Energy's 1-year growth to the CA Oil and Gas industry average as it is not currently profitable.
Earnings and Revenue History
Obsidian Energy's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Obsidian Energy Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:OBE Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 360.00 -357.00 23.00
2019-06-30 386.00 -360.00 26.00
2019-03-31 395.00 -294.00 28.00
2018-12-31 408.00 -305.00 30.00
2018-09-30 446.00 -250.00 37.00
2018-06-30 423.00 -263.00 36.00
2018-03-31 412.00 -176.00 36.00
2017-12-31 420.00 -84.00 39.00
2017-09-30 419.00 -258.00 284.00
2017-06-30 439.00 -446.00 294.00
2017-03-31 519.00 -569.00 304.00
2016-12-31 586.00 -696.00 310.00
2016-09-30 680.00 -2,070.00 81.00
2016-06-30 824.00 -2,602.00 82.00
2016-03-31 969.00 -2,498.00 93.00
2015-12-31 1,059.00 -2,646.00 98.00
2015-09-30 1,235.00 -2,812.00 92.00
2015-06-30 1,494.00 -2,063.00 108.00
2015-03-31 1,742.00 -1,892.00 120.00
2014-12-31 2,059.00 -1,733.00 143.00
2014-09-30 2,220.00 -636.00 158.00
2014-06-30 2,371.00 -587.00 169.00
2014-03-31 2,438.00 -783.00 186.00
2013-12-31 2,449.00 -809.00 192.00
2013-09-30 2,653.00 -236.00 190.00
2013-06-30 2,632.00 -337.00 202.00
2013-03-31 2,615.00 -49.00 156.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Obsidian Energy has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Obsidian Energy has efficiently used its assets last year compared to the CA Oil and Gas industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Obsidian Energy improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Obsidian Energy's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Obsidian Energy has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Obsidian Energy's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Obsidian Energy's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Obsidian Energy is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Obsidian Energy's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Obsidian Energy's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Obsidian Energy Company Filings, last reported 5 months ago.

TSX:OBE Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 1,634.00 467.00 3.00
2019-06-30 1,661.00 479.00
2019-03-31 1,822.00 459.00 3.00
2018-12-31 1,868.00 421.00 2.00
2018-09-30 1,980.00 394.00 3.00
2018-06-30 2,009.00 405.00 1.00
2018-03-31 2,102.00 367.00 2.00
2017-12-31 2,166.00 359.00 2.00
2017-09-30 2,223.00 364.00 4.00
2017-06-30 2,265.00 392.00 2.00
2017-03-31 2,275.00 384.00
2016-12-31 2,247.00 469.00 11.00
2016-09-30 2,478.00 912.00 447.00
2016-06-30 2,707.00 1,535.00 1,003.00
2016-03-31 2,837.00 1,858.00 53.00
2015-12-31 2,935.00 1,940.00 2.00
2015-09-30 4,540.00 2,249.00
2015-06-30 5,308.00 2,206.00 89.00
2015-03-31 5,340.00 2,426.00 5.00
2014-12-31 5,582.00 2,149.00 67.00
2014-09-30 7,406.00 2,192.00
2014-06-30 7,474.00 2,234.00
2014-03-31 7,372.00 2,353.00
2013-12-31 7,513.00 2,458.00
2013-09-30 8,536.00 3,004.00
2013-06-30 8,540.00 3,125.00
2013-03-31 8,680.00 2,962.00
  • Obsidian Energy's level of debt (28.6%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (29.7% vs 28.6% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Obsidian Energy has less than a year of cash runway based on current free cash flow.
  • Unable to confirm if Obsidian Energy has at least 1 year of cash runway based on growing free cash flows without relevant data.
X
Financial health checks
We assess Obsidian Energy's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Obsidian Energy has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Obsidian Energy's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Obsidian Energy dividends.
If you bought CA$2,000 of Obsidian Energy shares you are expected to receive CA$0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Obsidian Energy's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Obsidian Energy's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSX:OBE Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
Canada Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 37 Stocks 8.6%
Canada Market Average Dividend Yield Market Cap Weighted Average of 325 Stocks 4.9%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.3%
Canada Bottom 25% Dividend Yield 25th Percentile 2.7%
Canada Top 25% Dividend Yield 75th Percentile 8.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

TSX:OBE Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
2022-12-31
2021-12-31
2020-12-31
2020-03-28
2019-12-31 0.00 1.00
TSX:OBE Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2017-08-09 0.000 0.000
2017-05-04 0.000 0.000
2017-03-15 0.000 0.000
2016-11-02 0.000 0.000
2016-08-04 0.000 0.000
2016-05-16 0.000 0.000
2016-03-10 0.000 0.000
2015-07-30 0.280 3.598
2015-04-30 0.280 1.823
2015-03-12 0.280 1.691
2014-12-17 0.840 5.172
2014-11-05 3.920 14.923
2014-09-18 3.920 9.294
2014-04-30 3.920 6.032
2014-03-07 3.920 5.882
2013-11-06 3.920 6.311
2013-08-12 3.920 4.768
2013-08-08 3.920 4.498
2013-05-02 7.560 9.772
2013-02-14 7.560 10.553
2012-11-02 7.560 10.026
2012-08-10 7.560 7.691
2012-05-04 7.560 7.854
2012-02-16 7.560 5.687
2011-11-03 7.560 5.434
2011-08-10 7.560 6.294
2011-05-05 7.560 4.801
2011-03-22 7.560 4.258
2011-03-18 7.560 3.998
2011-02-17 7.560 4.000
2010-10-20 7.560 4.498
2010-09-08 7.560 5.260
2010-08-20 12.600 9.012
2010-07-20 12.600 8.864
2010-06-18 12.600 8.715
2010-05-20 12.600 8.875
2010-02-18 12.600 8.630
2010-01-20 12.600 9.652
2009-12-21 12.600 9.542
2009-11-20 12.600 9.750
2009-10-20 12.600 9.776
2009-09-18 12.600 10.892
2009-08-19 12.600 12.520
2009-07-17 12.600 12.566
2009-06-17 12.600 12.785
2009-05-21 12.600 12.080

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Obsidian Energy has not reported any payouts.
  • Unable to verify if Obsidian Energy's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Obsidian Energy's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Obsidian Energy has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Obsidian Energy's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Obsidian Energy afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Obsidian Energy has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Obsidian Energy's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Stephen Loukas
COMPENSATION CA$46,511
AGE 40
TENURE AS CEO 0.3 years
CEO Bio

Mr. Stephen Elias Loukas is a Managing Member, Partner and Portfolio Manager at FrontFour Capital Group LLC. He serves as Director, Interim Chief Executive Officer and President of Obsidian Energy Ltd. since December 5, 2019 and served as Independent Director since Since May 11, 2018 until December 5, 2019. Mr. Loukas supervises the FrontFour's advice and management of its portfolios. Previously, he served as a Director at Credit Suisse Securities and also served as a Portfolio Manager and Head of Investment Research of the multi-product event proprietary trading group from May 2006 to February 2009. He served as a Senior Investment Analyst at Pirate Capital, LLC from January 2005 to March 2006. Prior to Pirate Capital, he was a member of the corporate finance & distribution group at Scotia Capital, focusing on the structuring and syndication of leveraged loans and high yield debt. Mr. Loukas started his career at financial restructuring firm Zolfo Cooper, assisting corporate clients in the development and implementation of operational and financial restructuring plans. He serves as an Independent Director of Xinergy Corp., and was an Independent Director of Xinergy Ltd. from May 2012 to November 2013. Mr. Loukas received a B.A. in Finance and Accounting from New York University.

CEO Compensation
  • Insufficient data for Stephen to compare compensation growth.
  • Stephen's remuneration is lower than average for companies of similar size in Canada.
Management Team Tenure

Average tenure of the Obsidian Energy management team in years:

0.7
Average Tenure
  • The average tenure for the Obsidian Energy management team is less than 2 years, this suggests a new team.
Management Team

Stephen Loukas

TITLE
Interim President
COMPENSATION
CA$47K
AGE
40
TENURE
0.3 yrs

Aaron Smith

TITLE
Senior Vice President of Development & Operations
COMPENSATION
CA$522K
TENURE
1.2 yrs

Peter Scott

TITLE
Senior VP & CFO
TENURE
0.3 yrs

Mark Hawkins

TITLE
VP of Legal

Kyle Doucet

TITLE
Corporate Planning & Strategy Analyst
TENURE
2.6 yrs
Board of Directors Tenure

Average tenure and age of the Obsidian Energy board of directors in years:

3.1
Average Tenure
60.5
Average Age
  • The tenure for the Obsidian Energy board of directors is about average.
Board of Directors

Gordon Ritchie

TITLE
Independent Chairman of the Board
COMPENSATION
CA$109K
AGE
66
TENURE
1.1 yrs

Stephen Loukas

TITLE
Interim President
COMPENSATION
CA$47K
AGE
40
TENURE
1.8 yrs

Ray Crossley

TITLE
Independent Director
COMPENSATION
CA$156K
AGE
60
TENURE
5 yrs

Maureen Jackson

TITLE
Independent Director
COMPENSATION
CA$141K
AGE
61
TENURE
4 yrs

John Brydson

TITLE
Independent Director
COMPENSATION
CA$147K
AGE
66
TENURE
5.8 yrs

Bill Friley

TITLE
Independent Director
COMPENSATION
CA$147K
AGE
67
TENURE
5 yrs

Edward Kernaghan

TITLE
Independent Director
COMPENSATION
CA$86K
AGE
47
TENURE
2.2 yrs

Mike Faust

TITLE
Independent Director
COMPENSATION
CA$45K
AGE
58
TENURE
1.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
24. Sep 19 Buy FrontFour Capital Group LLC Company 20. Sep 19 20. Sep 19 427,000 CA$2.84 CA$1,195,618
24. Apr 19 Buy FrontFour Capital Group LLC Company 17. Apr 19 17. Apr 19 1,000 CA$2.86 CA$2,862
10. Apr 19 Buy Stephen Loukas Individual 10. Apr 19 10. Apr 19 2,414 CA$2.75 CA$6,644
09. Apr 19 Buy FrontFour Capital Group LLC Company 08. Apr 19 09. Apr 19 2,143 CA$2.75 CA$5,842
02. Apr 19 Buy Michael Faust Individual 02. Apr 19 02. Apr 19 17,857 CA$2.46 CA$43,960
05. Apr 19 Buy FrontFour Capital Group LLC Company 29. Mar 19 05. Apr 19 2,686 CA$2.64 CA$7,019
X
Management checks
We assess Obsidian Energy's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Obsidian Energy has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Why Obsidian Energy Ltd's (TSE:OBE) Ownership Structure Is Important

In this article, I'm going to take a look at Obsidian Energy Ltd’s (TSE:OBE) latest ownership structure, a non-fundamental factor which is important, but remains a less discussed subject among investors. … Ownership structure has been found to have an impact on shareholder returns in both short- and long-term. … Differences in ownership structure of companies can have a profound effect on how management's incentives are aligned with shareholder returns, and whether they adhere to corporate governance best practices.

Simply Wall St -

Are Obsidian Energy Ltd's (TSE:OBE) Interest Costs Too High?

While small-cap stocks, such as Obsidian Energy Ltd (TSE:OBE) with its market cap of CA$725.01m, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn.

Simply Wall St -

Obsidian Energy Ltd (TSE:OBE) Is Expected To Breakeven

Obsidian Energy Ltd's (TSE:OBE):. … The company’s loss has recently broadened since it announced a -CA$84.00m loss in the full financial year, compared to the latest trailing-twelve-month loss of -CA$176.00m, moving it further away from breakeven. … View out our latest analysis for Obsidian Energy

Simply Wall St -

Obsidian Energy Ltd (TSE:OBE): Strong Health, Poor Growth

Obsidian Energy Ltd (TSX:OBE) has been on my radar for a while, and the biggest I see is around the sustainability of the business going forward. … Although OBE seems to be managing its financials well, the market seems extremely bullish on a business which is expected to face some top-line headwind. … The company shows the ability to manage its capital requirements well, increasing my conviction of the sustainability of the business going forward.

Simply Wall St -

How Confident Are Insiders About Obsidian Energy Ltd (TSE:OBE)?

Obsidian Energy saw some insider buying over the past three months, with insiders investing in more than 18 million shares during this period. … Within the past three months, Obsidian Energy’s share price traded at a high of CA$1.81 and a low of CA$1.25. … Next Steps: Obsidian Energy’s net buying tells us the stock is in favour with some insiders, although the expected earnings growth challenges this conclusion, while a relatively volatile share price could be the motivation to trade.

Simply Wall St -

Obsidian Energy Ltd's (TSX:OBE) EPS Grew 87.6% In A Year. Was It Better Than Long-Term Trend?

I look at data from the most recent 12 months, which annualizes the most recent half-year data, or in some cases, the latest annual report is already the most recent financial year data. … For Obsidian Energy, the most recent earnings -CA$258M, which compared to the prior year's level, has become less negative. … The most useful step is to examine company-specific issues Obsidian Energy may be facing and whether management guidance has dependably been met in the past.

Simply Wall St -

Why Obsidian Energy Ltd (TSX:OBE) Could Be A Buy

Obsidian Energy Ltd (TSX:OBE), an energy company based in Canada, received a lot of attention from a substantial price increase on the TSX in the over the last few months. … So, could OBE still be trading at a low price relative to its actual value? … Will you have enough confidence to invest in the company should the price drop below its fair value?

Simply Wall St -

Company Info

Description

Obsidian Energy Ltd. explores for, develops, and produces oil and natural gas in western Canada. It holds interests in the Alberta Viking, Cardium, Deep Basin, and Peace River areas. The company was formerly known as Penn West Petroleum Ltd. and changed its name to Obsidian Energy Ltd. in June 2017. Obsidian Energy Ltd. was founded in 1979 and is headquartered in Calgary, Canada.

Details
Name: Obsidian Energy Ltd.
OBE
Exchange: TSX
Founded: 1979
CA$20,446,249
73,022,321
Website: http://www.obsidianenergy.com
Address: Obsidian Energy Ltd.
207 – 9th Avenue SW,
Suite 200,
Calgary,
Alberta, T2P 1K3,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX OBE Common Shares The Toronto Stock Exchange CA CAD 01. Aug 1980
NYSE OBE Common Shares New York Stock Exchange US USD 01. Aug 1980
DB P13A Common Shares Deutsche Boerse AG DE EUR 01. Aug 1980
Number of employees
Current staff
Staff numbers
0
Obsidian Energy employees.
Industry
Oil and Gas Exploration and Production
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/28 03:18
End of day share price update: 2020/03/27 00:00
Last estimates confirmation: 2020/03/25
Last earnings filing: 2019/11/04
Last earnings reported: 2019/09/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.