Kolibri Global Energy (NASDAQ:KGEI) Issues Quarterly Earnings Results

Kolibri Global Energy (NASDAQ:KGEI) posted its earnings results on Friday. The company reported $0.15 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.15, Zacks reports. Kolibri Global Energy had a return on equity of 10.93% and a net margin of 26.87%.

Here are the key takeaways from Kolibri Global Energy’s conference call:

• Current production has risen to approximately 5,700 BOE per day with new wells online, supporting management’s expectation of stronger cash flow into year-end and next year. The company also reported $15.4 million of net debt and $19.5 million of available borrowing capacity.
• Kolibri reported a strong early performance from its first False Caney well, a formation not yet included in its reserves. Management believes the interval may extend across much of its acreage and could expand future drilling opportunities, though results are still early.
• Third-quarter revenue rose 22% to $18.3 million and adjusted EBITDA increased 20% to $13.3 million, largely on higher prices; however, average production fell 9% year over year and net income was flat at $3.6 million. For the first nine months, revenue, adjusted EBITDA, and net income were all higher year over year.
• Operating expense per BOE increased 14% year over year in the quarter, reflecting higher severance taxes, workover costs, and chemical costs. Management said it expects to finish within its prior production guidance range, likely toward the lower end because new wells began producing later than anticipated.

Kolibri Global Energy Stock Performance

Shares of NASDAQ:KGEI traded down $0.55 on Friday, reaching $5.01. 176,383 shares of the company’s stock were exchanged, compared to its average volume of 179,602. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.20. Kolibri Global Energy has a fifty-two week low of $3.35 and a fifty-two week high of $7.37. The business’s 50-day moving average is $6.46 and its two-hundred day moving average is $5.42. The firm has a market capitalization of $180.07 million, a price-to-earnings ratio of 9.41, a PEG ratio of 0.65 and a beta of -0.64.

Analysts Set New Price Targets

KGEI has been the subject of a number of analyst reports. Wall Street Zen raised shares of Kolibri Global Energy from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Weiss Ratings lowered shares of Kolibri Global Energy from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. Two analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the stock has an average rating of “Hold”.

Kolibri Global Energy Company Profile

Kolibri Global Energy Inc. is an energy company focused on exploring for, developing and producing oil and natural gas. Its principal operations are in the Tishomingo Field in Oklahoma, where it develops resources in the Anadarko Basin. The company was formerly known as BNK Petroleum Inc. and adopted the Kolibri Global Energy name in 2023. Its business is centered on its U.S. oil and gas operations.