PEN

Panoro EnergyOB:PEN Stock Report

Market Cap

kr2.5b

7D

10.2%

1Y

115.0%

Updated

17 Sep, 2021

Data

Company Financials +
PEN fundamental analysis
Snowflake Score
Valuation5/6
Future Growth3/6
Past Performance5/6
Financial Health3/6
Dividends0/6

PEN Overview

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

Price History & Performance

Summary of all time highs, changes and price drops for Panoro Energy
Historical stock prices
Current Share Pricekr22.15
52 Week Highkr8.52
52 Week Lowkr25.20
Beta2.87
1 Month Change14.65%
3 Month Change-7.52%
1 Year Change115.05%
3 Year Change2.55%
5 Year Change440.24%
Change since IPO-76.18%

Recent News & Updates

Jun 10
These 4 Measures Indicate That Panoro Energy (OB:PEN) Is Using Debt In A Risky Way

These 4 Measures Indicate That Panoro Energy (OB:PEN) Is Using Debt In A Risky Way

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...

Shareholder Returns

PENNO Oil and GasNO Market
7D10.2%2.9%-0.5%
1Y115.0%41.2%20.4%

Return vs Industry: PEN exceeded the Norwegian Oil and Gas industry which returned 42.8% over the past year.

Return vs Market: PEN exceeded the Norwegian Market which returned 21.3% over the past year.

Price Volatility

Is PEN's price volatile compared to industry and market?
PEN volatility
PEN Beta2.87
Industry Beta1.06
Market Beta1

Stable Share Price: PEN is not significantly more volatile than the rest of Norwegian stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: PEN's weekly volatility (7%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
200925John Hamiltonhttps://www.panoroenergy.com

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; and Sfax Offshore Exploration Permit and Ras El Besh Concession located in offshore Tunisia, as well as operates assets on and offshore Tunisia. As of December 31, 2020, its 1P reserves included 8.05 million barrels of oil (MMbbls); 2P reserves comprised 12.30 MMbbls; and 3P reserves consisted of 16.46 MMbbls.

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

Below Fair Value: PEN (NOK22.15) is trading below our estimate of fair value (NOK57.47)

Significantly Below Fair Value: PEN is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: PEN is good value based on its PE Ratio (5.9x) compared to the Norwegian Oil and Gas industry average (10x).

PE vs Market: PEN is good value based on its PE Ratio (5.9x) compared to the Norwegian market (13.5x).


Price to Earnings Growth Ratio

PEG Ratio: PEN is good value based on its PEG Ratio (0.7x)


Price to Book Ratio

PB vs Industry: PEN is overvalued based on its PB Ratio (1.5x) compared to the NO Oil and Gas industry average (1x).


Future Growth

How is Panoro Energy forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

8.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PEN's forecast earnings growth (8.9% per year) is above the savings rate (1.2%).

Earnings vs Market: PEN's earnings (8.9% per year) are forecast to grow slower than the Norwegian market (10.2% per year).

High Growth Earnings: PEN's earnings are forecast to grow, but not significantly.

Revenue vs Market: PEN's revenue (8.1% per year) is forecast to grow faster than the Norwegian market (5.8% per year).

High Growth Revenue: PEN's revenue (8.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: PEN's Return on Equity is forecast to be high in 3 years time (27.5%)


Past Performance

How has Panoro Energy performed over the past 5 years?

61.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PEN has a large one-off gain of $47.7M impacting its June 30 2021 financial results.

Growing Profit Margin: PEN's current net profit margins (96.8%) are higher than last year (6.7%).


Past Earnings Growth Analysis

Earnings Trend: PEN has become profitable over the past 5 years, growing earnings by 61.9% per year.

Accelerating Growth: PEN's earnings growth over the past year (2235.3%) exceeds its 5-year average (61.9% per year).

Earnings vs Industry: PEN earnings growth over the past year (2235.3%) exceeded the Oil and Gas industry 176.2%.


Return on Equity

High ROE: PEN's Return on Equity (24.5%) is considered high.


Financial Health

How is Panoro Energy's financial position?


Financial Position Analysis

Short Term Liabilities: PEN's short term assets ($160.2M) exceed its short term liabilities ($93.2M).

Long Term Liabilities: PEN's short term assets ($160.2M) do not cover its long term liabilities ($329.7M).


Debt to Equity History and Analysis

Debt Level: PEN's debt to equity ratio (52.3%) 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 (64.8%).

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


Balance Sheet


Dividend

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

2.78%

Forecast Dividend Yield


Dividend Yield vs Market

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

High Dividend: Unable to evaluate PEN'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 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

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

6.3yrs

Average board tenure


CEO

John Hamilton (56 yo)

6.33yrs

Tenure

US$1,088,000

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 ($USD1.09M) is above average for companies of similar size in the Norwegian market ($USD544.80K).

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


Board Members

Experienced Board: PEN's board of directors are considered experienced (6.3 years average tenure).


Ownership

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


Insider Trading Volume

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


Ownership Breakdown

Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 64.3%.


Top Shareholders

Company Information

Panoro Energy ASA's 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: kr2.511b
  • Shares outstanding: 113.38m
  • Website: https://www.panoroenergy.com

Number of Employees


Location

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

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/09/17 22:30
End of Day Share Price2021/09/17 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


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.