RE:RE:Whats has hapened to this stock??Between low oil prices and the Trudeau government's percieved anti-energy policies, there is an accute lack of interest in Canadian energy producers. OBE has an added strike against it in the fact that the old Penn West was nearly run into the ground over the last decade or so by its previous management.
The lack of interest by institutional investors and the corresponding low volumes means that short interest will have its way.
At some point, the valuation will speak for itself. This thing is trading at less thana third of its book value (some might say its a value trap). They also have the CAD strength against it. They need $45 WTI to break even and $50-$55 to implement their growth plan. Until we see oil prices break $50, this thing will languish.
By the way - to the guy that posted that this thing has a high debt level, the P/B ration takes into account assets AND DEBT. This ratio currently sits at 0.3.
To paraphrase some smart guy, "Be greedy when others are fearful....".