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Obsidian Energy LTD. (OBE) stock

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NYSE: OBE NYSE Oil & Gas Exploration & Production Next results ~November 5, 2026

D Fundamentals grade

Obsidian Energy LTD. is a US-listed company in the oil & gas exploration & production industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$3.8

Price-to-earnings vs peers

Base case. Range ~$3.1–$5.7. Earnings per share times peers' typical (harmonic-mean) price-to-earnings.

Price vs value

No Buy/Hold/Sell rating is issued: only 1 valuation models apply; a rating needs 3.

Obsidian Energy LTD. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Funds59 adding, 28 cuttingOf 17 active managers that changed their stake, 11 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Obsidian Energy files

Where Obsidian Energy LTD. stands after its latest Filing

Revenue for the twelve months was $409m, down 25.9% on a year earlier, against growth of 8.9% a quarter earlier. That puts it 55 of 57 for growth among the oil & gas exploration & production companies we cover. Free-cash-flow margin fell to -10.3% from 12.8% a year earlier. The diluted share count is down 5.5% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 2 of our 5 financial-health checks. Our price-to-earnings vs peers value is $4.04 a share, against a share price of $11.80.

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

Obsidian Energy LTD.'s trailing-twelve-month revenue fell 25.9% year on year, with a free-cash-flow margin of -10.3%. Where it stands out: change in share count of -5.5% ranks 3 of 48 oil & gas exploration & production companies we cover. Where it lags: revenue growth of -25.9% ranks 55 of 57 oil & gas exploration & production companies we cover.

Current signal Revenue growth decelerating: TTM revenue growth slowed to -25.9% (-34.9pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Shrinking share count. Diluted shares fell 5.5% in a year, so each share owns more of the business.

Things to watch

  • Revenue shrinking. Revenue fell 25.9% over the last 12 months.
  • Growth slowing. The growth rate is 34.9 points lower than a quarter earlier.
  • Burning cash. Free cash flow was -10.3% of revenue over the last 12 months.
  • Weak cash conversion. Free cash flow was -168% of net income over the last 12 months.
  • Missing expectations. Earnings per share fell short of the consensus estimate in 3 of the last four quarters.

Latest results

Earnings per share
$0.62 against an average estimate of $0.32: beat by 94.2%
Next report
November 5, 2026

Obsidian Energy's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-12.1%
  • 1 week-13.6%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$409M
Net margin
6.2%
EPS (TTM, diluted)
$0.35

Growth

Revenue growth
−25.9%
Change in growth rate
−34.9 pts
Share count change
−5.5%

Cash

Free cash flow (TTM)
-$42.3M
FCF margin
-10.3%
Stock pay % of revenue
1.5%

News & updates

Updated November 2, 2026

Company announcements, filed results and changes that matter to shareholders.

No recent updates are available for OBE from the sources we follow. See filings →

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Obsidian Energy LTD. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 1 valuation models apply; a rating needs 3.

Valuation models

We value Obsidian Energy LTD. as an oil and gas producer, with every model that fits that kind of business. Cost of equity 7.7%: the 10-year Treasury yield (4.9%) plus a beta of 0.62 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Proved-reserve net asset value The SEC standardised measure of the company's proved oil and gas reserves (future net cash flows after tax at SEC average prices, discounted at 10%) less debt and other claims, per share. — Does not apply: no standardised measure of proved reserves in the company's tagged filings
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$3.8 ~$3.1–$5.7 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$160 ~$110–$250 Left out: out of range vs price (15.42x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$77 ~$64–$98 Left out: out of range vs price (7.42x)
Combined value Weighted average of the models that apply: the primary model (proved-reserve net asset value) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$3.8 ~$3.1–$5.7 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Obsidian Energy LTD. with oil and gas producers in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, before the open.

Analysts' consensus

No analyst estimates are published for Obsidian Energy LTD.: too few analysts cover it.

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.32 $0.62 +94.2%
Mar 2026 $0.15 −$0.28 −283.7%
Dec 2025 $0.09 −$0.18 −300.0%
Sept 2025 $0.38 $0.24 −36.8%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

5 analysts, Nov 2026
Buy360%
Hold240%
Sell00%

Monthly trend

  1. Nov 20262125
  2. Oct 20262125
  3. Sep 20261124

Counts of recommendations published by analysts covering Obsidian Energy LTD., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
—
of tradable shares
Days to cover
11.34
at average volume
Short interest, 1 month
−2%
to October 15, 2026
Held by institutions
45%
of shares
Held by insiders
11.8%
of shares
Employees
148
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

Price behaviour

52-week range
Not enough history
From 52-week high
—
vs 50-day average
—
vs 200-day average
—
Volatility (1 year)
—
Beta vs S&P 500
—

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Obsidian Energy LTD. in five measures

Fundamentals grade D
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Obsidian Energy LTD.
$200M $300M $400M $500M $600M FY16 Q4 FY18 Q4 FY20 Q4 FY22 Q4 FY25 Q4 Revenue (TTM), FY16 Q4: $434.6M Revenue (TTM), FY17 Q4: $342.3M Revenue (TTM), FY18 Q4: $295M Revenue (TTM), FY19 Q4: $287.9M Revenue (TTM), FY20 Q4: $231M Revenue (TTM), FY21 Q4: $360.2M Revenue (TTM), FY22 Q4: $593M Revenue (TTM), FY23 Q4: $506.9M Revenue (TTM), FY24 Q4: $552.2M Revenue (TTM), FY25 Q4: $409M $409M

Source: SEC EDGAR filings. Retrieved November 1, 2026.

View chart data
Period Revenue (TTM)
FY16 Q4 $434.6M
FY17 Q4 $342.3M
FY18 Q4 $295M
FY19 Q4 $287.9M
FY20 Q4 $231M
FY21 Q4 $360.2M
FY22 Q4 $593M
FY23 Q4 $506.9M
FY24 Q4 $552.2M
FY25 Q4 $409M
Revenue growth, TTM YoY Obsidian Energy LTD.
-50% 0% 50% 100% FY17 Q4 FY19 Q4 FY21 Q4 FY23 Q4 FY25 Q4 Revenue growth, TTM YoY, FY17 Q4: -21.2% Revenue growth, TTM YoY, FY18 Q4: -13.8% Revenue growth, TTM YoY, FY19 Q4: -2.4% Revenue growth, TTM YoY, FY20 Q4: -19.8% Revenue growth, TTM YoY, FY21 Q4: 56.0% Revenue growth, TTM YoY, FY22 Q4: 64.6% Revenue growth, TTM YoY, FY23 Q4: -14.5% Revenue growth, TTM YoY, FY24 Q4: 8.9% Revenue growth, TTM YoY, FY25 Q4: -25.9% -25.9%

Source: SEC EDGAR filings. Retrieved November 1, 2026.

View chart data
Period Revenue growth, TTM YoY
FY17 Q4 -21.2%
FY18 Q4 -13.8%
FY19 Q4 -2.4%
FY20 Q4 -19.8%
FY21 Q4 56.0%
FY22 Q4 64.6%
FY23 Q4 -14.5%
FY24 Q4 8.9%
FY25 Q4 -25.9%
FCF margin (TTM) Obsidian Energy LTD.
-40% -20% 0% 20% FY16 Q4 FY18 Q4 FY20 Q4 FY22 Q4 FY25 Q4 FCF margin (TTM), FY16 Q4: -38.1% FCF margin (TTM), FY17 Q4: -3.6% FCF margin (TTM), FY18 Q4: -18.1% FCF margin (TTM), FY19 Q4: -6.9% FCF margin (TTM), FY20 Q4: 7.2% FCF margin (TTM), FY21 Q4: 12.8% FCF margin (TTM), FY22 Q4: 18.4% FCF margin (TTM), FY23 Q4: 8.8% FCF margin (TTM), FY24 Q4: 2.5% FCF margin (TTM), FY25 Q4: -10.3% -10.3%

Source: SEC EDGAR filings. Retrieved November 1, 2026.

View chart data
Period FCF margin (TTM)
FY16 Q4 -38.1%
FY17 Q4 -3.6%
FY18 Q4 -18.1%
FY19 Q4 -6.9%
FY20 Q4 7.2%
FY21 Q4 12.8%
FY22 Q4 18.4%
FY23 Q4 8.8%
FY24 Q4 2.5%
FY25 Q4 -10.3%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 40-F, 40-F/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025
Income
Revenue 435 342 295 288 231 360 593 507 552 409
Net income −526 −65 −236 −594 −575 330 623 80 −148 25
Diluted EPS −$7.35 −$0.92 −$3.26 −$8.15 −$7.85 $4.26 $7.38 $0.95 −$1.95 $0.35
Growth (year on year)
Revenue — −21.2% −13.8% −2.4% −19.8% +56.0% +64.6% −14.5% +8.9% −25.9%
Net income — — — — — — +88.6% −87.2% −284.8% —
Diluted EPS — — — — — — +73.2% −87.2% −305.5% —
Margins
Net margin −121.0% −18.9% −79.8% −206.4% −249.2% 91.7% 105.1% 15.8% −26.8% 6.2%
Free-cash-flow margin −38.1% −3.6% −18.1% −6.9% 7.2% 12.8% 18.4% 8.8% 2.5% −10.3%
Cash flow
Cash from operations −104 96 76 58 59 159 351 261 264 172
Capital spending 62 109 130 78 43 112 242 217 251 214
Free cash flow −166 −12 −53 −20 17 46 109 45 14 −42
Stock-based pay 5 6 5 3 2 2 4 6 6 6
Free cash flow after stock pay −171 −19 −59 −23 15 44 106 39 8 −48
Balance sheet
Cash 8 2 0 2 6 6 1 0 — —
Total debt 349 287 307 355 354 307 172 170 236 134
Net debt (negative = net cash) 341 285 307 353 348 301 171 170 — —
Diluted shares 72m 72m 72m 73m 73m 78m 84m 84m 76m 72m
Returned to shareholders
Buybacks — — — — — — 0 35 30 39
Total returned — — — — — — 0 35 30 39

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 5 checks passed · December 31, 2025
What it owns · $1.4bn
Short-term assets $66mLonger-term assets $1.3bn
What it owes, and who funded it · $1.4bn
Short-term liabilities $122mLonger-term liabilities $216mShareholders' equity $1.0bn
  • Short-term assets cover short-term liabilities $66m of assets due within a year against $122m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $66m short-term assets against $216m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Debt is 13% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 0% to 13% over five years.
  • A year's operating cash flow covers at least 20% of debt $172m of operating cash flow against $131m of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Obsidian Energy LTD.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2025 Q4 TTM
Buybacks (TTM)
$39.3M
Returned to shareholders
-93%
of free cash flow
Buybacks, last 3 fiscal years
$105M
Diluted share count
−5.5%
year over year
Total shareholder yield
5.3%
dividends 0.0% + buybacks 5.3% of market value
Days sales outstanding
37 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in oil & gas exploration & production
Last 12 months unless stated OBE GFR EGY REPX PROP KRP Median
Revenue, last 12 months $409m $418m $350m $484m $343m $341m $1.4bn
Revenue growth, last 12 months −25.9% −27.6% −25.5% 23.2% 282.7% 6.2% 10.6%
Revenue growth, 3-year average — — −1.3% 13.3% — 8.2% 1.4%
Revenue growth, latest quarter — — 39.5% 94.2% 45.2% 30.0% 31.5%
Gross margin — 96.5% — — −12.6% — 75.2%
Operating margin — — −10.4% 38.4% 27.1% 40.1% 21.1%
Operating margin, 3-year average — — 17.2% 39.4% <−999% 29.9% 16.5%
Net margin 6.2% 8.1% −31.1% 24.5% −13.0% 29.7% 10.1%
Cash from operations / revenue 42.0% 23.4% 56.1% 49.4% 69.5% 69.7% 42.4%
Free-cash-flow margin −10.3% 4.2% 26.4% 48.4% 71.8% 33.8% 19.3%
Free-cash-flow margin, 3-year average −0.4% — 20.1% 51.5% −235.1% −8.8% 19.1%
Stock pay / revenue 1.5% 0.5% 1.8% 2.3% 5.9% 4.9% 1.5%
Change in share count −5.5% −99.9% 0.7% −0.1% 712.6% — 0.4%

Median of all 57 companies we cover in oil & gas exploration & production. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

57 oil & gas exploration & production companies
Measure Company Peer median Rank
Revenue growth Growth -25.9% 10.6% 55 of 57
Change in growth rate Growth -34.9pp +4.9pp 55 of 57
Net margin Profitability 6.2% 10.1% 37 of 57
Free-cash-flow margin Cash generation -10.3% 23.2% 44 of 51
Stock pay as % of revenue Cash generation 1.5% 1.2% 25 of 47
Long-term debt as % of assets Balance sheet 9.7% 17.6% 6 of 43
Change in share count Balance sheet -5.5% 0.4% 3 of 48
Days sales outstanding Balance sheet 37 days 41 days 18 of 42

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$225M
Institutions reporting
103
Shares held vs prior quarter
▲ 26.6%
Positions opened / closed
22 / 16

Top buyers and sellers, Q2 2026: 59 institutions bought and 28 sold ; the biggest buyer was Acadian Asset Management LLC (+1.6M shares) and the biggest seller Connor, Clark & Lunn Investment Management Ltd (−414K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Royal Bank Of Canada $36.1M 4.4M 16.0% ▼ 0.1%
Arrowstreet Capital, Limited Partnership $25.7M 3.1M 11.4% ▲ 5.1%
Acadian Asset Management LLC $19.7M 2.4M 8.8% ▲ 185.9%
Two Sigma Investments, LP $19.1M 2.4M 8.5% ▲ 46.3%
Pembroke Management, Ltd $16.1M 2.0M 7.2% ▲ 209.7%
Dimensional Fund Advisors LP $11.5M 1.4M 5.1% ▲ 2.7%
American Century Companies Inc $11.1M 1.4M 4.9% ▲ 16.8%
Bank Of Montreal $9.6M 1.2M 4.2% ▲ 198.4%
D. E. Shaw & Co., Inc. $9.3M 1.1M 4.1% ▲ 13.1%
Morgan Stanley $8.6M 1.1M 3.8% ▲ 106.4%
Bank Of America Corp $7.8M 957K 3.5% ▲ 48.9%
First Trust Advisors LP $5.2M 639K 2.3% ▲ 81.0%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Obsidian Energy LTD.'s complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Recent SEC filings

Data status

When each part of this page on Obsidian Energy LTD. was last updated.

DataLast updatedSource
Share priceExchange closing prices
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Obsidian Energy LTD. in brief

What does Obsidian Energy LTD. do?
Obsidian Energy LTD. is a US-listed company in the oil & gas exploration & production industry. Its financial year ends in December.
What is Obsidian Energy LTD.'s stock ticker?
Obsidian Energy LTD. trades under the ticker OBE on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Obsidian Energy LTD.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Obsidian Energy LTD. reported revenue of $409M, 25.9% lower than a year earlier, according to its SEC filings.
What is Obsidian Energy LTD.'s free cash flow?
Obsidian Energy LTD.'s free-cash-flow margin is -10.3% of revenue over the trailing twelve months, ranking 44 of the 51 oil & gas exploration & production companies we cover.
Who are Obsidian Energy LTD.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Royal Bank Of Canada, Arrowstreet Capital, Limited Partnership and Acadian Asset Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Obsidian Energy LTD. buying back stock, and does it pay a dividend?
Obsidian Energy LTD. spent $39.3M on share repurchases over the trailing twelve months, and its diluted share count fell 5.5% over the year.
How much debt does Obsidian Energy LTD. have?
Obsidian Energy LTD.'s debt-to-equity ratio is 12.9%, from its latest balance sheet (0.0% five years earlier). The financial health section below sets out its other solvency checks.
Who are Obsidian Energy LTD.'s competitors?
In our Oil & Gas Exploration & Production peer group, the companies closest to Obsidian Energy LTD. are Greenfire Resources Ltd., Vaalco Energy Inc, Riley Exploration Permian, Inc., Prairie Operating Co. and Kimbell Royalty Partners, LP. The side-by-side comparison below sets their revenue, margins and growth against Obsidian Energy LTD.'s.
When is Obsidian Energy LTD.'s next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Obsidian Energy LTD. announces its own schedule.