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COI

Comet RidgeASX:COI Stock Report

Market Cap

AU$116.1m

7D

8.0%

1Y

68.8%

Updated

21 Oct, 2021

Data

Company Financials +
COI fundamental analysis
Snowflake Score
Valuation1/6
Future Growth0/6
Past Performance0/6
Financial Health3/6
Dividends0/6

COI Overview

Comet Ridge Limited, together with its subsidiaries, engages in the coal seam gas exploration and development activities in Queensland and New South Wales.

Comet Ridge Competitors

Karoon Energy

ASX:KAR

AU$942.5m

Senex Energy

ASX:SXY

AU$827.7m

Carnarvon Petroleum

ASX:CVN

AU$524.4m

Cooper Energy

ASX:COE

AU$473.0m

Price History & Performance

Summary of all time highs, changes and price drops for Comet Ridge
Historical stock prices
Current Share PriceAU$0.14
52 Week HighAU$0.054
52 Week LowAU$0.15
Beta1.35
1 Month Change39.18%
3 Month Change50.00%
1 Year Change68.75%
3 Year Change-60.87%
5 Year Change159.62%
Change since IPO-56.45%

Recent News & Updates

Sep 29
We're Hopeful That Comet Ridge (ASX:COI) Will Use Its Cash Wisely

We're Hopeful That Comet Ridge (ASX:COI) Will Use Its Cash Wisely

There's no doubt that money can be made by owning shares of unprofitable businesses. For example, although Amazon.com...

Dec 31
How Much Is Comet Ridge's (ASX:COI) CEO Getting Paid?

How Much Is Comet Ridge's (ASX:COI) CEO Getting Paid?

Tor McCaul has been the CEO of Comet Ridge Limited ( ASX:COI ) since 2009, and this article will examine the...

Shareholder Returns

COIAU Oil and GasAU Market
7D8.0%-2.2%0.7%
1Y68.8%44.0%21.4%

Return vs Industry: COI exceeded the Australian Oil and Gas industry which returned 48.3% over the past year.

Return vs Market: COI exceeded the Australian Market which returned 21.1% over the past year.

Price Volatility

Is COI's price volatile compared to industry and market?
COI volatility
COI Beta1.35
Industry Beta1.29
Market Beta1

Stable Share Price: COI is not significantly more volatile than the rest of Australian stocks over the past 3 months, typically moving +/- 11% a week.

Volatility Over Time: COI's weekly volatility (11%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2003n/aTor McCaulhttps://www.cometridge.com.au

Comet Ridge Limited, together with its subsidiaries, engages in the coal seam gas exploration and development activities in Queensland and New South Wales. The company holds 100% interests in the ATP 743, ATP 744, and ATP 1015 projects located in the Galilee Basin, Queensland; and ATP 2048, ATP 2061, and ATP 2063 projects located in the Southern Bowen Basin, Queensland. It also holds 40% interests in the Mahalo gas project covering an area of 911 square kilometers located in the Bowen Basin, Queensland, as well as holds 29.55% interest in the PEL 6 and 59.09% interest in PEL 427 projects covering an area of 10,926 square kilometers located in the Gunnedah Basin, New South Wales.

Comet Ridge Fundamentals Summary

How do Comet Ridge's earnings and revenue compare to its market cap?
COI fundamental statistics
Market CapAU$116.10m
Earnings (TTM)-AU$6.96m
Revenue (TTM)n/a

0x

P/S Ratio

-16.7x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
COI income statement (TTM)
RevenueAU$0
Cost of RevenueAU$0
Gross ProfitAU$0
ExpensesAU$6.96m
Earnings-AU$6.96m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)-0.0081
Gross Margin0.00%
Net Profit Margin0.00%
Debt/Equity Ratio0.0%

How did COI perform over the long term?

See historical performance and comparison

Valuation

Is Comet Ridge undervalued compared to its fair value and its price relative to the market?

2.3x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate COI's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate COI's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: COI is unprofitable, so we can't compare its PE Ratio to the Australian Oil and Gas industry average.

PE vs Market: COI is unprofitable, so we can't compare its PE Ratio to the Australian market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate COI's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: COI is good value based on its PB Ratio (2.3x) compared to the AU Oil and Gas industry average (2.5x).


Future Growth

How is Comet Ridge forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

32.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: COI is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: COI is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: COI is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: Insufficient data to determine if COI's revenue is forecast to grow faster than the Australian market.

High Growth Revenue: COI is forecast to have no revenue next year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: COI is forecast to be unprofitable in 3 years.


Past Performance

How has Comet Ridge performed over the past 5 years?

-25.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: COI is currently unprofitable.

Growing Profit Margin: COI is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: COI is unprofitable, and losses have increased over the past 5 years at a rate of 25.2% per year.

Accelerating Growth: Unable to compare COI's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: COI is unprofitable, making it difficult to compare its past year earnings growth to the Oil and Gas industry (-50.5%).


Return on Equity

High ROE: COI has a negative Return on Equity (-13.81%), as it is currently unprofitable.


Financial Health

How is Comet Ridge's financial position?


Financial Position Analysis

Short Term Liabilities: COI's short term assets (A$4.4M) do not cover its short term liabilities (A$24.7M).

Long Term Liabilities: COI's short term assets (A$4.4M) exceed its long term liabilities (A$1.1M).


Debt to Equity History and Analysis

Debt Level: COI is debt free.

Reducing Debt: COI has not had any debt for past 5 years.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: COI has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: COI has less than a year of cash runway if free cash flow continues to reduce at historical rates of 22% each year


Dividend

What is Comet Ridge current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate COI's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate COI's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if COI's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if COI's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of COI's dividend in 3 years as they are not forecast to pay a notable one for the Australian market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

10.6yrs

Average management tenure


CEO

Tor McCaul

12.5yrs

Tenure

AU$158,999

Compensation

Mr. Tor McCaul, B.E. (Hons/Petroleum), B.Econ, MBA, has been Managing Director of Comet Ridge Limited since April 16, 2009. Mr. McCaul has extensive oil and gas experience. Mr. McCaul served as Chief Execu...


CEO Compensation Analysis

Compensation vs Market: Tor's total compensation ($USD119.07K) is below average for companies of similar size in the Australian market ($USD303.55K).

Compensation vs Earnings: Tor's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: COI's management team is seasoned and experienced (10.6 years average tenure).


Board Members

Experienced Board: COI's board of directors are seasoned and experienced ( 12.2 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: COI insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 9%.


Top Shareholders

Company Information

Comet Ridge Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Comet Ridge Limited
  • Ticker: COI
  • Exchange: ASX
  • Founded: 2003
  • Industry: Oil and Gas Exploration and Production
  • Sector: Energy
  • Market Cap: AU$116.105m
  • Shares outstanding: 860.03m
  • Website: https://www.cometridge.com.au

Location

  • Comet Ridge Limited
  • 410 Queen Street
  • Level 3
  • Brisbane
  • Queensland
  • 4000
  • Australia

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/21 18:16
End of Day Share Price2021/10/21 00:00
Earnings2021/06/30
Annual Earnings2021/06/30


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.