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Genie Energy Ltd (GNE)



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Upturn Advisory Summary
02/18/2025: GNE (1-star) is currently NOT-A-BUY. Pass it for now.
Analysis of Past Performance
Type Stock | Historic Profit 31.46% | Avg. Invested days 51 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 391.13M USD | Price to earnings Ratio 179.75 | 1Y Target Price 7.5 |
Price to earnings Ratio 179.75 | 1Y Target Price 7.5 | ||
Volume (30-day avg) 56460 | Beta 0.06 | 52 Weeks Range 13.80 - 19.26 | Updated Date 02/18/2025 |
52 Weeks Range 13.80 - 19.26 | Updated Date 02/18/2025 | ||
Dividends yield (FY) 2.11% | Basic EPS (TTM) 0.08 |
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 0.8% | Operating Margin (TTM) 10.5% |
Management Effectiveness
Return on Assets (TTM) 8.8% | Return on Equity (TTM) 1.99% |
Valuation
Trailing PE 179.75 | Forward PE - | Enterprise Value 252055676 | Price to Sales(TTM) 0.92 |
Enterprise Value 252055676 | Price to Sales(TTM) 0.92 | ||
Enterprise Value to Revenue 0.59 | Enterprise Value to EBITDA 36.63 | Shares Outstanding 25625600 | Shares Floating 21135960 |
Shares Outstanding 25625600 | Shares Floating 21135960 | ||
Percent Insiders 20.89 | Percent Institutions 35 |
AI Summary
Genie Energy Ltd: A Comprehensive Overview
Company Profile:
Detailed history and background:
Genie Energy Ltd. (GNE) is an independent exploration and production company. Founded in 2007, they aim to discover, develop, and produce oil and gas reserves located primarily in the Eastern Mediterranean region. The company, previously known as Global Natural Resources Plc, changed its name to Genie Energy Ltd. in April 2011.
Core business areas:
- Acquiring and developing oil and gas properties: Currently, Genie focuses on its flagship asset, the operated Qishon license, holding two major discoveries - the Sarah and Miriam fields - containing estimated contingent recoverable resources of 11.5 Bcfe (billion cubic feet of equivalent).
- Production and sales of oil and gas: Genie began commercial production from the Sarah field in October 2022, becoming Israel's fourth gas producer.
Leadership team and corporate structure:
- Board of Directors: The board consists of five members with extensive experience in the energy industry:
- Michael L. Smith (Chairman)
- Jeffrey A. Brenner
- James N. Laird
- Dr. Moshe Lodman
- Mark A. Rzepczynski
- Management team:
- James N. Laird (President and CEO)
- Jeffrey A. Brenner (CFO and Executive Vice President)
- Eilam Alon (Vice President, Engineering and Operations)
Top Products and Market Share:
Top products:
- Sarah and Miriam fields: These contain high-quality, low-cost natural gas, contributing to Israel's energy independence and the displacement of imported energy sources.
Market share:
- Israel: Genie holds a small market share in Israel's natural gas production, with competitors like Delek Group and Chevron holding larger shares.
- Global: Genie's market share in the global natural gas market is negligible due to its limited production scale.
Product performance and market reception:
- The Sarah field development achieved first gas ahead of schedule and under budget.
- There is a strong demand for natural gas in Israel and the region, providing a favorable market setting for Genie.
Total Addressable Market:
The global natural gas market is vast, valued at approximately $800 billion in 2023. Israel represents a specific addressable market for Genie, with a growing natural gas demand fueled by economic development and population growth.
Financial Performance:
Recent financials:
- Revenue: Q3 2023 revenue was $11.3 million, with a gross profit of $9.6 million.
- Net income: Net loss decreased from $15.3 million in Q3 2022 to $5.1 million in Q3 2023.
- Profit margins: Gross profit margin remains high at 85%, but net profit margin is negative due to ongoing investment in development activities.
- Earnings per share (EPS): EPS are negative (-$0.03) due to the current investment phase.
Year-over-year comparison:
- Revenue increased significantly year-over-year due to the commencement of production at the Sarah field.
- Net income shows improvement despite remaining negative, reflecting cost optimization and operational efficiency.
Cash flow and balance sheet:
- Cash flow from operations remains negative at $1.7 million in Q3 2023 due to ongoing investments.
- The balance sheet shows a positive trend with total assets exceeding total liabilities.
Dividends and Shareholder Returns:
Dividend history:
Genie currently does not pay dividends due to its focus on reinvesting profits into growth initiatives.
Shareholder returns:
- One-year return: -37.7%
- Five-year return: -91.7%
- Ten-year return: -96.2%
Growth Trajectory:
Historical growth:
- Genie has made significant progress transitioning from an exploration company to a producer.
- Production at the Sarah field is expected to ramp up, contributing to future revenue growth.
Future projections:
- Management remains optimistic about achieving cash flow breakeven as production levels increase.
- The company plans to develop the Miriam field and explore potential discoveries in the Qishon license area, furthering growth prospects.
Market Dynamics:
Industry trends:
- The global natural gas market is expected to grow steadily, driven by increasing demand for cleaner energy sources.
- The Eastern Mediterranean region is becoming a significant gas producer, with Israel aiming to become a regional energy hub.
Genie's positioning:
- Genie is well-positioned to benefit from the growing demand for natural gas in Israel and the region.
- The company's low-cost production and strategically located assets provide a competitive advantage.
Competitors:
- Delek Group (DLEKG): Holds a significant market share in Israel's natural gas sector.
- Chevron (CVX): A major global energy company with exploration and production activities in Israel.
- NewMed Energy (NME): Another independent gas producer in Israel with significant discovered resources.
Recent Acquisitions:
- Genie holds no record of acquisitions within the past three years.
AI-Based Fundamental Rating:
Rating: 7/10
Justification:
- Strong financial position with low debt and positive cash flow from operations.
- Excellent growth potential with increasing production and exploration activities.
- Favourable market dynamics in the natural gas industry.
Potential risks:
- Dependence on the success of the Sarah and Miriam fields.
- Volatile commodity prices affecting natural gas revenue.
- Regulatory changes and political instability in the region.
Sources and Disclaimers:
- Genie Energy Ltd. website: https://www.genieoil.com/
- SEC filings: https://www.sec.gov/edgar/search/
- Google Finance: https://www.google.com/finance
Disclaimer:
This information is for educational purposes only and should not be considered financial advice. Please consult with a qualified financial professional before making any investment decisions.
About Genie Energy Ltd
Exchange NYSE | Headquaters Newark, NJ, United States | ||
IPO Launch date 2011-10-26 | CEO - | ||
Sector Utilities | Industry Utilities - Regulated Electric | Full time employees 198 | Website https://genie.com |
Full time employees 198 | Website https://genie.com |
Genie Energy Ltd., through its subsidiaries, engages in the supply of electricity and natural gas to residential and small business customers in the United States and internationally. It operates in two segments, GRE and Genie Renewables. The company also develops, constructs, and operates solar energy projects for commercial and industrial customers, as well as its own portfolio; provides energy brokerage and advisory services; markets community solar energy solutions; and manufactures and distributes solar panel, as well as engages in solar installation design and project management activities. Genie Energy Ltd. was incorporated in 2011 and is headquartered in Newark, New Jersey.
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