Why These Energy Stocks Are Losing This Week

5. Obsidian Energy Ltd. (NYSE:OBE)

Share Price Decline Between Apr. 22 and Apr. 29: 6.45%

Obsidian Energy Ltd. (NYSE:OBE) is an intermediate-sized oil and gas producer with a well-balanced portfolio of high-quality assets producing over 39,000 boe per day.

The stock of Obsidian Energy Ltd. (NYSE:OBE) recently took a hit after RBC Capital downgraded the stock to Sector Perform from Outperform with a price target of C$10, down from C$12 previously. According to the analyst, OBE is currently navigating through a challenging macroeconomic environment and remains in the process of assessing its FY 2025 development plans and longer-term strategic direction following its transaction with InPlay Oil.