Obsidian Energy Ltd (NYSE:OBE)
June 13th, 2019
With markets going up Obsidian Energy Ltd fell ($0.16) Thursday, down 12.50%, closing at $1.12. As well as the drop in value, Obsidian Energy Ltd hit a new 52 week low of $1.11. Despite the drop in value, trading volumes were solid at 356.00% of normal which can indicate investor opportunities. Be aware that the Altman Z-Score1 (An indicator of the probability for a 2-year bankruptcy) is below the recommended threshold of 1.8%, and calculated to be -0.32.
OBE was outperformed by the rest of the Energy sector which went up 1.25%.
The market sectors were mixed Thursday with a majority of the sectors trending up. Energy saw the biggest increase of the day (1.25%), while the Healthcare sector saw the biggest drop (-0.11%). Information Technology has seen the biggest year-to-date gain of 23.06%.
Utilities saw the biggest turn-around compared to its 5-day performance (-0.31%), as it went up by 0.15%. Healthcare saw a turn-around from its 5-day performance of 2.18% trading down -0.11%.
- Energy, up 1.25%.
- Communication Services, up 1.14%.
- Consumer Discretionary, up 0.90%.
- Materials, up 0.58%.
- Industrials, up 0.54%.
- Financials, up 0.23%.
- Information Technology, up 0.22%.
- Utilities, up 0.15%.
- Consumer Staples, up 0.11%.
- Real Estate, up 0.09%.
- Healthcare, down -0.11%.
Obsidian Energy Ltd Info
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.
All amounts in USD unless otherwise indicated
(1) The Altman Z-Score calculation was first published in 1968 by Edward I. Altman, and is used for predicting the probability that a firm will go into bankruptcy within two years. An Altman Z-Score below 1.8 (Remember that Obsidian Energy Ltd’s score is -0.32) is the trigger to be alert for this situation. Some analysts believe this score is less relevant for some companies, in particular companies operating to accumulate users that may run at huge losses to scale up.
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