$OBE

Obsidian Energy (TSX:OBE) reported a Q4 2025 loss of C$0.18 EPS, capping a year with C$540.8 million in revenue and C$0.51 basic EPS. This contrasts with a bullish forecast of 51.3% annual earnings growth and a 75.6% discount to its DCF fair value, despite a P/E ratio higher than the industry average. The company's production volume decreased, but critics note a consistent profit margin between realized oil prices and production costs, challenging the idea that profitability is only possible at high commodity prices.