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

Kolibri Global Energy (NASDAQ:KGEI) announced its earnings results on Thursday. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02, Zacks reports. The firm had revenue of $22.54 million for the quarter, compared to the consensus estimate of $20.86 million. Kolibri Global Energy had a return on equity of 8.42% and a net margin of 22.67%.

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 Price Performance

KGEI opened at $5.60 on Friday. The company has a market capitalization of $200.26 million, a price-to-earnings ratio of 14.74, a PEG ratio of 0.74 and a beta of -0.60. 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 50-day moving average price of $5.07 and a 200-day moving average price of $4.97. Kolibri Global Energy has a twelve month low of $3.35 and a twelve month high of $6.61.

Analyst Upgrades and Downgrades

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

Institutional Trading of Kolibri Global Energy

A number of institutional investors have recently modified their holdings of KGEI. Bank of America Corp DE grew its stake in Kolibri Global Energy by 7.2% in the 2nd quarter. Bank of America Corp DE now owns 555,979 shares of the company’s stock valued at $3,808,000 after buying an additional 37,207 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Kolibri Global Energy by 1,738.2% during the second quarter. Geode Capital Management LLC now owns 456,214 shares of the company’s stock worth $3,125,000 after acquiring an additional 431,395 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Kolibri Global Energy by 237.9% during the second quarter. JPMorgan Chase & Co. now owns 171,801 shares of the company’s stock worth $1,177,000 after acquiring an additional 120,953 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Kolibri Global Energy by 220.4% during the second quarter. Marshall Wace LLP now owns 155,423 shares of the company’s stock worth $1,065,000 after acquiring an additional 106,912 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Kolibri Global Energy in the first quarter worth $986,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

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.