Kolibri Global Energy (NASDAQ:KGEI) Releases Earnings Results, Beats Estimates By $0.02 EPS

Kolibri Global Energy (NASDAQ:KGEI) posted its earnings results on Thursday. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.02, Zacks reports. Kolibri Global Energy had a net margin of 22.67% and a return on equity of 8.42%.

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

• Record second-quarter results: Revenue reached $22.5 million, production rose 46% to 4,690 BOE per day, and adjusted EBITDA increased 114% year over year to $16.4 million, despite three wells being shut in for part of the quarter.
• The company completed drilling its three Clifton Mack wells and expects four 2026 wells to support further growth, primarily in the fourth quarter. Management said the shut-in Alicia Renee wells are expected to return without material performance issues and could generate some initial “flush” production.
• Kolibri’s borrowing base increased 15% to $75 million from $65 million, providing additional working-capital flexibility and reflecting the company’s view that the value of its properties is increasing.
• Management is testing the False Caney formation with a first-ever two-mile horizontal well at Lovina 8-5-1 HF. The company sees substantial potential if the oil-saturated interval delivers repeatable flow rates and decline characteristics, but acknowledged that results remain uncertain until completion and production data are available.
• Operating costs rose to $8.90 per BOE from $7.15, driven by workover costs, elevated water hauling and some chemical-cost inflation. Management expects workover costs to subside and water hauling to moderate, but said expenses may remain somewhat above last year’s levels.

Kolibri Global Energy Stock Up 8.7%

NASDAQ:KGEI traded up $0.47 during mid-day trading on Thursday, reaching $5.89. The company’s stock had a trading volume of 293,781 shares, compared to its average volume of 190,853. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $210.63 million, a PE ratio of 15.50, a price-to-earnings-growth ratio of 0.73 and a beta of -0.60. The stock has a fifty day moving average of $5.08 and a 200-day moving average of $4.95. Kolibri Global Energy has a 1 year low of $3.35 and a 1 year high of $6.61.

Hedge Funds Weigh In On Kolibri Global Energy

Several hedge funds and other institutional investors have recently modified their holdings of KGEI. BNP Paribas Financial Markets lifted its holdings in shares of Kolibri Global Energy by 102.1% during the third quarter. BNP Paribas Financial Markets now owns 6,245 shares of the company’s stock worth $35,000 after purchasing an additional 3,155 shares during the period. Raymond James Financial Inc. acquired a new stake in Kolibri Global Energy during the 2nd quarter valued at approximately $25,000. Geode Capital Management LLC raised its stake in shares of Kolibri Global Energy by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 378,559 shares of the company’s stock valued at $1,488,000 after buying an additional 4,367 shares during the last quarter. Barclays PLC boosted its stake in shares of Kolibri Global Energy by 10.0% in the fourth quarter. Barclays PLC now owns 48,822 shares of the company’s stock worth $192,000 after buying an additional 4,423 shares during the last quarter. Finally, Empowered Funds LLC lifted its holdings in Kolibri Global Energy by 9.1% in the fourth quarter. Empowered Funds LLC now owns 56,655 shares of the company’s stock valued at $223,000 after acquiring an additional 4,723 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Kolibri Global Energy from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Kolibri Global Energy in a research report on Friday, July 24th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Kolibri Global Energy Company Profile

Kolibri Global Energy Inc engages in the finding and exploiting oil, gas, and clean and sustainable energy in the United States. It sells crude oil, natural gas, and natural gas liquids. The company was formerly known as BNK Petroleum Inc and changed its name to Kolibri Global Energy Inc in November 2020. Kolibri Global Energy Inc was incorporated in 2008 and is headquartered in Thousand Oaks, California.