OB:PEN

Stock Analysis Report

Panoro Energy

Executive Summary

Panoro Energy ASA engages in the exploration, development, and production of oil and gas in North and West Africa.

Snowflake

Fundamentals

High growth potential with mediocre balance sheet.

Share Price & News

How has Panoro Energy's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

0.9%

PEN

-2.2%

NO Oil and Gas

0.07%

NO Market


1 Year Return

27.9%

PEN

-23.4%

NO Oil and Gas

-8.7%

NO Market

Return vs Industry: PEN exceeded the Norwegian Oil and Gas industry which returned -23.4% over the past year.

Return vs Market: PEN exceeded the Norwegian Market which returned -8.7% over the past year.


Shareholder returns

PENIndustryMarket
7 Day0.9%-2.2%0.07%
30 Day14.1%-6.4%-1.9%
90 Day39.8%2.6%2.1%
1 Year27.9%27.9%-19.7%-23.4%-3.9%-8.7%
3 Year373.9%373.9%46.9%28.8%40.2%21.9%
5 Year-13.4%-13.4%46.7%16.2%59.2%22.5%

Price Volatility Vs. Market

How volatile is Panoro Energy's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Panoro Energy undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: PEN (NOK22.7) is trading below our estimate of fair value (NOK59.76)

Significantly Undervalued: PEN is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: PEN is poor value based on its PE Ratio (61.9x) compared to the Oil and Gas industry average (22.1x).

PE vs Market: PEN is poor value based on its PE Ratio (61.9x) compared to the Norwegian market (13.3x).


Price to Earnings Growth Ratio

Low PEG Ratio: PEN is poor value based on its PEG Ratio (2.7x)


Price to Book Ratio

PB vs Industry: PEN is overvalued based on its PB Ratio (2.9x) compared to the NO Oil and Gas industry average (1x).


Next Steps

Future Growth

How is Panoro Energy forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

23.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PEN's forecast earnings growth (23.1% per year) is above the savings rate (1.8%).

Earnings vs Market: PEN's earnings (23.1% per year) are forecast to grow faster than the Norwegian market (15.1% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: PEN's revenue (11.7% per year) is forecast to grow faster than the Norwegian market (4.7% per year).

High Growth Revenue: PEN's revenue (11.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: PEN's Return on Equity is forecast to be very high in 3 years time (55.6%).


Next Steps

Past Performance

How has Panoro Energy performed over the past 5 years?

3.9%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: PEN has become profitable over the past 5 years, growing earnings by 3.9% per year.

Accelerating Growth: PEN has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: PEN has become profitable in the last year, making it difficult to compare its past year earnings growth to the Oil and Gas industry (29.3%).


Return on Equity

High ROE: PEN's Return on Equity (4.2%) is considered low.


Return on Assets

ROA vs Industry: PEN's Return on Assets is below or equal to the Oil and Gas industry average last year.


Return on Capital Employed

ROCE Improving: PEN's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Panoro Energy's financial position?


Financial Position Analysis

Short Term Liabilities: PEN's short term assets ($38.2M) exceeds its short term liabilities ($26.6M)

Long Term Liabilities: PEN's short term assets (38.2M) do not cover its long term liabilities (54.2M)


Debt to Equity History and Analysis

Debt Level: PEN's debt to equity ratio (50.6%) is considered high

Reducing Debt: Insufficient data to determine if PEN's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: PEN's debt is well covered by operating cash flow (25.6%).

Interest Coverage: PEN's interest payments on its debt are well covered by EBIT (8.1x coverage).


Balance Sheet

Inventory Level: PEN has a high level of physical assets or inventory.

Debt Coverage by Assets: PEN's debt is covered by short term assets (assets are 1.418580x debt).


Next Steps

Dividend

What is Panoro Energy's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%2.6%markettop25%6.2%industryaverage5.9%forecastin3Years0%

Current dividend yield vs market & industry


Stability and Growth of Payments

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

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

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

Growing Dividend: Insufficient data to determine if PEN'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 PEN's dividend in 3 years as they are not forecast to pay a notable one for the Norwegian market.


Next Steps

Management

What is the CEO of Panoro Energy's salary, the management and board of directors tenure and is there insider trading?

4.4yrs

Average board tenure


CEO

John Hamilton (54yo)

4.4yrs

Tenure

US$690

Compensation

Mr. John Andrew Hamilton, FCCA is Director at Magnora ASA since December 18, 2018. He has been Chief Executive Officer at Panoro Energy ASA since May 13, 2015. Mr. Hamilton has been Senior Advisor of Presi ...


CEO Compensation Analysis

Compensation vs. Market: John's total compensation ($USD690.00) is too low to compare against companies of similar size in the Norwegian market ($USD426.32K).

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


Board Age and Tenure

4.4yrs

Average Tenure

52yo

Average Age

Experienced Board: PEN's board of directors are considered experienced (4.4 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$5,170,49520 Jun 19
Sundt AS
EntityCompany
Shares320,000
Max PriceUS$16.16
BuyUS$50,92026 Nov 18
John Hamilton
EntityIndividual
Role
Chief Executive Officer
Chief Executive Officer
Shares3,800
Max PriceUS$13.40
BuyUS$33,50026 Nov 18
Qazi Qadeer
EntityIndividual
Role
Chief Financial Officer
Chief Financial Officer
Shares2,500
Max PriceUS$13.40
BuyUS$50,92026 Nov 18
Richard Morton
EntityIndividual
Role
Chief Technology Officer
Technical Director
Shares3,800
Max PriceUS$13.40

Ownership Breakdown


Management Team

  • John Hamilton (54yo)

    Chief Executive Officer

    • Tenure: 4.4yrs
    • Compensation: US$690.00
  • Thor Tangen

    Executive Vice President of Field Development

    • Tenure: 0yrs
    • Compensation: US$293.00k
  • Richard Morton

    Technical Director

    • Tenure: 0yrs
    • Compensation: US$376.00
  • Qazi Qadeer

    Chief Financial Officer

    • Tenure: 5.2yrs
    • Compensation: US$379.00
  • Nigel McKim (57yo)

    Projects Director

    • Tenure: 0yrs

Board Members

  • Garrett Soden (45yo)

    Non-Executive Director

    • Tenure: 4.4yrs
  • Torstein Sanness (72yo)

    Deputy Chairman of the Board

    • Tenure: 0.4yrs
  • Julien Olivier Balkany (38yo)

    Chairman

    • Tenure: 5yrs
  • Alex Herger (62yo)

    Non Executive Director

    • Tenure: 5yrs
  • Hilde Ådland (52yo)

    Non-Executive Director

    • Tenure: 3.5yrs

Company Information

Panoro Energy ASA's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Panoro Energy ASA
  • Ticker: PEN
  • Exchange: OB
  • Founded: 2009
  • Industry: Oil and Gas Exploration and Production
  • Sector: Energy
  • Market Cap: kr1.420b
  • Shares outstanding: 62.56m
  • Website: https://www.panoroenergy.com

Number of Employees


Location

  • Panoro Energy ASA
  • Ruseløkkveien 14
  • PO box 1444
  • Oslo
  • Oslo
  • 201
  • Norway

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PENOB (Oslo Bors)YesOrdinary SharesNONOKJun 2010
1PZDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJun 2010
0N08LSE (London Stock Exchange)YesOrdinary SharesGBNOKJun 2010
PESA.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJun 2010
PENoBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBNOKJun 2010

Biography

Panoro Energy ASA engages in the exploration, development, and production of oil and gas in North and West Africa. The company holds assets in the Dussafu License located in the offshore southern Gabon; OM ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/19 21:12
End of Day Share Price2019/10/18 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.