Kolibri Global Energy (NASDAQ:KGEI) Releases Earnings Results, Hits Expectations

Kolibri Global Energy (NASDAQ:KGEI) released its earnings results on Friday. The company reported $0.15 earnings per share (EPS) for the quarter, hitting 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

KGEI stock traded down $0.55 during midday trading on Friday, hitting $5.01. 176,383 shares of the company traded hands, compared to its average volume of 179,602. Kolibri Global Energy has a twelve month low of $3.35 and a twelve month high of $7.37. The stock has a market capitalization of $180.07 million, a price-to-earnings ratio of 9.41, a price-to-earnings-growth ratio of 0.65 and a beta of -0.64. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.20. The business has a 50 day simple moving average of $6.46 and a 200-day simple moving average of $5.42.

Analysts Set New Price Targets

Several research analysts have issued reports on KGEI shares. Weiss Ratings lowered shares of Kolibri Global Energy from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. Wall Street Zen upgraded shares of Kolibri Global Energy from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Two research analysts have rated the stock with a Hold rating. According to MarketBeat, the stock presently has a consensus 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.