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Karoon Energy Ltd (AU:KAR)
ASX:KAR

Karoon Energy Ltd (KAR) AI Stock Analysis

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AU:KAR

Karoon Energy Ltd

(Sydney:KAR)

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Neutral 67 (OpenAI - 4o)
Rating:67Neutral
Price Target:
AU$2.00
▲(26.58% Upside)
Action:ReiteratedDate:10/25/25
Karoon Energy Ltd's overall stock score reflects strong operational efficiency and attractive valuation metrics. However, challenges in revenue growth and profitability, alongside mixed technical indicators, temper the outlook. Strategic acquisitions and resource upgrades provide a cautiously optimistic future outlook.
Positive Factors
Strategic Acquisitions
The acquisition of Baúna FPSO is a strategic move that enhances Karoon's resource base and extends project life, supporting long-term growth and stability.
Operational Efficiency
High operational efficiency at Baúna indicates strong execution capabilities, which can lead to sustained production levels and cost management.
Safety and Environmental Performance
Enhanced safety and environmental metrics reflect Karoon's commitment to sustainable operations, which is crucial for long-term industry compliance and reputation.
Negative Factors
Decline in Revenue
A significant revenue decline poses challenges for Karoon's financial stability, affecting its ability to invest in growth and maintain profitability.
Reduced Profitability
A sharp drop in net profit indicates pressure on Karoon's earnings, which could impact shareholder returns and reinvestment capabilities.
Free Cash Flow Challenges
Negative free cash flow growth suggests difficulties in generating cash, which can constrain Karoon's ability to fund operations and strategic initiatives.

Karoon Energy Ltd (KAR) vs. iShares MSCI Australia ETF (EWA)

Karoon Energy Ltd Business Overview & Revenue Model

Company DescriptionKaroon Energy Ltd operates as an oil and gas exploration and production company in Australia and Brazil. The company holds 100% interest in the Santos Basin consisting of 5 off-shore blocks located in the State of Sáo Paulo, Brazil; 50% interest in the Carnarvon Basin located in the north Western Australia; and the Tumbes Basin covering an area of approximately 4,875 square kilometers located in northern Peru. The company was formerly known as Karoon Gas Australia Ltd and changed its name to Karoon Energy Ltd in December 2018. Karoon Energy Ltd was incorporated in 2003 and is headquartered in Southbank, Australia.
How the Company Makes MoneyKaroon Energy generates revenue primarily through the sale of crude oil and natural gas produced from its exploration and production activities. The company's revenue model is anchored in its ability to locate, extract, and sell hydrocarbons at competitive market prices. Key revenue streams include the sale of oil from its operational fields, with additional contributions from gas sales. The company has established significant partnerships with other energy firms and service providers, which facilitate its exploration and production efforts. Moreover, fluctuations in global oil and gas prices significantly impact its earnings, making market dynamics a crucial factor in its financial performance. Strategic investments in technology and sustainability initiatives also support operational efficiency and cost reduction, further contributing to its profitability.

Karoon Energy Ltd Earnings Call Summary

Earnings Call Date:Aug 26, 2025
(Q2-2025)
|
% Change Since: |
Next Earnings Date:Sep 02, 2026
Earnings Call Sentiment Neutral
The earnings call presented both challenges and achievements. Key highlights included successful strategic acquisitions, resource upgrades, and strong production performance. However, these were offset by significant declines in profit and revenue, as well as operational setbacks. The outlook is cautiously optimistic with strategic plans to improve operations and extend project life.
Q2-2025 Updates
Positive Updates
Successful Acquisition of Baúna FPSO
Karoon acquired the Baúna FPSO, which is expected to lower the cost base over time and extend the economic life out to 2039, increasing reserves by 45% to 52.7 million barrels.
Increase in Neon Resource
Neon resources increased by 54% to 86.5 million barrels of oil; the project is advancing with a potential final investment decision targeted for the second half of 2026.
Improved Safety and Environmental Performance
Safety performance improved with no LTIs and a reduction in emissions intensity. A 100-day safety improvement plan was completed for the FPSO.
Capital and Shareholder Returns
Returned $53 million to shareholders through dividends and buybacks, ending the half with leverage at 0.6x and strong liquidity of $452 million.
Positive Operational Performance
Baúna production exceeded expectations with FPSO efficiency at 94.5%, leading to an increase in production guidance for Baúna to 7.3 to 7.8 million barrels.
Negative Updates
Decline in Underlying NPAT
Underlying NPAT for the half was USD 45 million, 61% lower than the prior period, due to weaker global oil prices and lower sales volumes.
Electrical Submersible Pump Failure at SPS-92
Partial failure of the electrical submersible pump at SPS-92 reduced production rates; full production not expected to resume until Q2 2026.
Reduced Revenue
Revenue fell to $308 million from $409 million in the first half of 2024, impacted by lower oil prices and deferred sales volumes.
Increased Production Costs
Production costs increased by $3 million to $71.8 million, with transitional ops and maintenance service costs offsetting FPSO lease savings.
Company Guidance
In the first half of the fiscal year 2025, Karoon Energy Limited reported an underlying NPAT of USD 45 million, a 61% decrease from the previous year, primarily due to weaker global oil prices and lower sales volumes. The company ended the period with net debt of USD 238 million and strong liquidity of USD 452 million. During this time, Karoon acquired the Baúna FPSO, increasing its reserves base to 52.7 million barrels and extending the economic life of the project to 2039. Production for the first half was about 200,000 barrels of oil equivalent higher than the same period in 2024. EBITDAX was down by USD 66.2 million from the first half of 2024, with revenues at USD 308 million compared to USD 409 million the previous year. The company also returned USD 53 million to shareholders through dividends and buybacks, maintaining a leverage ratio of 0.6x. Looking ahead, Karoon plans to continue its buyback program and declared an unfranked dividend of AUD 0.024 per share, representing a 25% payout of its first-half underlying NPAT.

Karoon Energy Ltd Financial Statement Overview

Summary
Karoon Energy Ltd demonstrates strong operational efficiency with high gross and EBITDA margins. However, the significant revenue decline and reduced net profit margin highlight challenges in maintaining growth and profitability. The balance sheet is stable with moderate leverage, but the decline in return on equity suggests reduced shareholder returns. Cash flow generation is a concern, with negative free cash flow growth.
Income Statement
65
Positive
Karoon Energy Ltd has shown strong gross profit margins, consistently above 48% over the years, indicating efficient cost management. However, the company experienced a significant revenue decline of 36.1% in the latest year, which is a concern. The net profit margin has also decreased to 16.4% from 29.7% the previous year, reflecting reduced profitability. Despite these challenges, the company maintains a healthy EBIT margin of 38.2% and an EBITDA margin of 65.3%, showcasing operational efficiency.
Balance Sheet
70
Positive
The company's debt-to-equity ratio has improved to 0.52, indicating a balanced capital structure with moderate leverage. The return on equity has decreased to 13.1% from 27.6%, suggesting reduced profitability for shareholders. However, the equity ratio remains stable, reflecting a solid financial position with a good proportion of equity financing.
Cash Flow
60
Neutral
Karoon Energy Ltd's free cash flow growth rate is negative at -48.7%, indicating challenges in generating free cash flow. The operating cash flow to net income ratio is strong at 1.89, suggesting good cash generation from operations relative to net income. However, the free cash flow to net income ratio is 0.49, indicating that not all net income is translating into free cash flow.
BreakdownDec 2025Dec 2024Jun 2023Jun 2022Jun 2021
Income Statement
Total Revenue776.50M847.00M842.19M531.00M228.98M
Gross Profit587.80M495.20M406.60M257.97M72.96M
EBITDA506.90M636.53M586.79M365.34M115.50M
Net Income127.50M251.29M242.33M-88.87M5.88M
Balance Sheet
Total Assets1.94B1.93B1.79B1.69B1.35B
Cash, Cash Equivalents and Short-Term Investments341.20M170.02M112.37M229.31M177.43M
Total Debt511.20M487.80M414.18M459.58M416.70M
Total Liabilities965.10M1.02B1.08B1.29B844.10M
Stockholders Equity976.40M911.94M711.49M401.66M506.49M
Cash Flow
Free Cash Flow213.70M-435.60M-73.44M55.37M-191.54M
Operating Cash Flow434.60M311.29M450.76M204.69M39.93M
Investing Cash Flow-218.60M-746.90M-525.54M-147.75M-226.84M
Financing Cash Flow-37.20M533.15M-50.84M-21.37M-31.38M

Karoon Energy Ltd Technical Analysis

Technical Analysis Sentiment
Negative
Last Price1.58
Price Trends
50DMA
1.60
Negative
100DMA
1.58
Positive
200DMA
1.68
Negative
Market Momentum
MACD
<0.01
Positive
RSI
46.63
Neutral
STOCH
56.90
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:KAR, the sentiment is Negative. The current price of 1.58 is below the 20-day moving average (MA) of 1.63, below the 50-day MA of 1.60, and below the 200-day MA of 1.68, indicating a bearish trend. The MACD of <0.01 indicates Positive momentum. The RSI at 46.63 is Neutral, neither overbought nor oversold. The STOCH value of 56.90 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:KAR.

Karoon Energy Ltd Peers Comparison

Overall Rating
UnderperformOutperform
Sector (65)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
67
Neutral
AU$1.19B6.0113.85%4.74%-17.02%-35.47%
65
Neutral
$15.17B7.614.09%5.20%3.87%-62.32%
52
Neutral
AU$993.28M-15.20-14.41%
45
Neutral
AU$356.34M-1.91-42.02%59.48%-1714.71%
* Energy Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:KAR
Karoon Energy Ltd
1.55
0.08
5.46%
BEPTF
Beach Energy
0.77
-0.07
-8.82%
HZNFF
Horizon Oil Limited
0.13
0.02
17.12%
STOSF
Santos Limited
4.50
0.97
27.44%
AU:STX
Strike Energy Limited
0.10
-0.09
-47.57%
AU:TBN
Tamboran Resources Limited
0.22
0.02
13.16%

Karoon Energy Ltd Corporate Events

Citi Group Entities Cease to Be Substantial Holder in Karoon Energy
Feb 26, 2026

Citigroup Global Markets Australia and related Citi entities have notified Karoon Energy that they have ceased to be a substantial holder in the company as of 24 February 2026, following changes in their relevant interests in KAR ordinary shares. The shifts reflect adjustments in positions held under securities lending agreements across Citibank N.A. Sydney Branch, Citigroup Global Markets Australia, and Citigroup Global Markets Limited, reducing Citi’s aggregate voting power below the substantial holding threshold and signaling a recalibration of institutional exposure to Karoon’s stock.

These changes in relevant interests involve both decreases and increases in holdings tied to securities lending obligations, without any new or altered associate relationships being disclosed among the Citi entities. For Karoon Energy and its shareholders, the move indicates a notable change in the company’s institutional shareholder base, which may influence trading dynamics and liquidity but does not directly alter the company’s operations or strategy.

The most recent analyst rating on (AU:KAR) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

Karoon Energy Files Updated Corporate Governance Statement and Appendix 4G
Feb 26, 2026

Karoon Energy has lodged its updated corporate governance statement for the year ended 31 December 2025, confirming that the document is current as of 25 February 2026 and accessible on its website in accordance with ASX Listing Rules. The accompanying Appendix 4G details the company’s adherence to the ASX Corporate Governance Council’s principles, including board charters, director vetting, and executive agreements, signalling continued compliance and formal oversight structures for shareholders and regulators.

The filing underscores that Karoon maintains a board-approved governance framework, with the company secretary accountable directly to the board and clear delineation between board and management responsibilities. By formally mapping its practices against ASX governance recommendations, the company reinforces its commitment to disclosure, verification of compliance, and transparency, which are central to institutional investor confidence and ongoing market scrutiny.

The most recent analyst rating on (AU:KAR) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

Karoon Energy Releases 2025 Corporate Governance Statement
Feb 26, 2026

Karoon Energy Ltd has released its 2025 Corporate Governance Statement to the market, as required under ASX Listing Rules. The document, approved by the board, outlines the company’s governance framework and practices for the year, signalling continued adherence to regulatory standards and transparency expectations for investors and stakeholders.

The most recent analyst rating on (AU:KAR) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

Karoon Energy Profit Falls on Lower Oil Prices but Reserves and Shareholder Returns Grow
Feb 26, 2026

Karoon Energy reported 2025 underlying net profit after tax of US$107.5 million, about half the prior year, as lower realised oil prices and one fewer Baúna cargo outweighed a modest 1% decline in production and a 3% reduction in unit production costs. Statutory profit was broadly flat at US$125.5 million, supported by lower operating costs following the April 2025 purchase of the Baúna FPSO, which removed lease payments and helped offset a 19% drop in sales revenue and a 42% fall in operating cash flow.

The group ended 2025 with net debt of US$143.9 million and liquidity of US$546.1 million, having funded all capital expenditure from internal cash and leaving its reserves-based lending facility undrawn. Total 2P reserves rose 7% and 2C contingent resources climbed 34% on the back of a seven-year Baúna field-life extension, the award of Piracucá licences and increases at Neon, while shareholder returns reached US$80.4 million through dividends and an ongoing on-market buyback, underpinned by the Board’s view that the shares remain undervalued and that 2026 guidance is unchanged.

The most recent analyst rating on (AU:KAR) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

Karoon Energy Holds Profit, Lifts Asset Backing and Confirms Final Dividend Despite Revenue Drop
Feb 26, 2026

Karoon Energy Ltd, an oil and gas exploration and production company, reported its financial results for the year ended 31 December 2025, highlighting performance in U.S. dollar terms. The group’s net tangible asset backing per ordinary share increased to $1.38 from $1.22 a year earlier, indicating an improvement in underlying asset value for shareholders.

Revenue from ordinary activities declined 19% year on year to US$628.6 million, and net profit after tax attributable to members eased slightly to US$125.5 million from US$127.5 million. Underlying net profit after tax fell more sharply, dropping 50% to US$107.5 million, suggesting operational or market headwinds despite the relatively stable headline profit.

No controlled entities were acquired or disposed of during the period, pointing to a stable corporate structure over the year. Directors nevertheless resolved to pay a final dividend of 3.1 Australian cents per share, fully franked at 30% tax, in addition to the 2.4 cent interim dividend already paid.

The final dividend is scheduled with an ex-dividend date of 5 March 2026, a record date of 6 March 2026, and payment on 31 March 2026. This payout, combined with higher net tangible asset backing, signals continued commitment to shareholder returns even as underlying earnings soften, and will be closely watched by investors for clues on future capital management.

The most recent analyst rating on (AU:KAR) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

KKR Entities Exit as Substantial Shareholders in Karoon Energy
Feb 24, 2026

Karoon Energy Ltd has disclosed that a group of KKR-affiliated entities, including Comet Asia Holdings I and II, KKR Asia III Fund Investments and KKR Asian Fund III, have ceased to be substantial shareholders as of 23 February 2026. The change in relevant interests, linked to transactions detailed in a related filing by Superannuation and Investments HoldCo Pty Ltd, marks the exit of a major institutional investor from Karoon’s register, potentially altering the company’s ownership structure and future capital markets dynamics.

The cessation of KKR’s substantial holding may signal a shift in the company’s shareholder base from private equity backing to a broader or differently composed investor mix. This development could influence market perceptions of Karoon’s strategic direction and governance, as well as liquidity and control considerations for remaining and prospective shareholders.

The most recent analyst rating on (AU:KAR) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

CBA Group Ceases to Be Substantial Holder in Karoon Energy
Feb 24, 2026

Commonwealth Bank of Australia and certain related bodies corporate have ceased to be substantial holders in Karoon Energy Ltd as of 23 February 2026. The change reflects a reduction in their relevant voting interests below the substantial holding threshold, potentially altering Karoon’s shareholder base dynamics and the influence of major institutional investors.

Details of the change in relevant interests and any associated entities are recorded in accompanying annexures, indicating disposals or adjustments in holdings since the prior notice lodged in early February 2026. This shift may modestly impact governance considerations and market perception of institutional support, though no operational changes for Karoon are outlined in the notice.

The most recent analyst rating on (AU:KAR) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

Institutional Investor Ceases to Be Substantial Holder in Karoon Energy
Feb 24, 2026

Superannuation and Investments HoldCo Pty Ltd and its related entities have lodged a notice stating they have ceased to be a substantial holder in Karoon Energy Ltd as of 23 February 2026. The change reflects a reduction in their voting power below the substantial holding threshold, potentially altering Karoon’s share register dynamics and the influence of this institutional investor on corporate decisions.

The notice follows a prior substantial holding disclosure earlier in February 2026, indicating that Superannuation and Investments HoldCo’s position has shifted significantly within a short period. While transaction details are contained in annexures, the filing underscores ongoing movements in institutional ownership, a factor closely watched by market participants assessing shareholder support and governance alignment at Karoon.

The most recent analyst rating on (AU:KAR) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

Karoon Energy Cancels Over 1 Million Shares After On-Market Buy-Back
Feb 6, 2026

Karoon Energy Ltd has cancelled 1,093,809 ordinary fully paid shares following an on-market buy-back completed on 3 February 2026, as disclosed in its latest capital notification to the ASX. The reduction in issued capital reflects the company’s ongoing capital management strategy, which can enhance earnings per share and potentially signal confidence in its financial position, with implications for shareholder value and trading liquidity in its stock.

The most recent analyst rating on (AU:KAR) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

Karoon Energy Updates Market on Progress of On-Market Share Buy-Back
Feb 5, 2026

Karoon Energy has provided an updated notification to the ASX on its ongoing on-market share buy-back program for its ordinary fully paid shares. As of 6 February 2026, the company reported that it had repurchased a total of 12,590,425 shares prior to the previous day and a further 286,280 shares on the previous trading day, underscoring continued execution of its capital management strategy and potential implications for share count reduction and capital returns to shareholders.

The most recent analyst rating on (AU:KAR) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

Karoon Energy Updates Market on Progress of On‑Market Share Buy-Back
Feb 4, 2026

Karoon Energy Ltd has provided an updated notification on its on‑market share buy-back program for its ordinary fully paid shares listed under ASX code KAR.

The company reported that it had repurchased a total of 12,217,685 shares prior to the previous trading day and acquired a further 372,740 shares on the previous day, as part of an ongoing on‑market buy-back first notified in September 2025, with this update dated 5 February 2026, signalling continued execution of its capital management strategy.

The most recent analyst rating on (AU:KAR) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

Karoon Energy Updates Market on Progress of On-Market Share Buy-Back
Feb 3, 2026

Karoon Energy Ltd has provided an updated daily notification of its on-market share buy-back, confirming that a total of 11,949,443 ordinary fully paid shares had been repurchased before the previous trading day, with an additional 268,242 shares bought back on the prior day. The ongoing buy-back program, first notified in late September 2025 and now subject to regular daily disclosures, signals continued capital management activity that may support earnings per share and share price performance, while also indicating management’s confidence in the company’s valuation and returning capital to shareholders within the current market environment.

The most recent analyst rating on (AU:KAR) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

Karoon Energy Provides Daily Update on On‑Market Share Buy-Back
Feb 2, 2026

Karoon Energy Ltd, an Australian oil and gas producer listed on the ASX under code KAR, continues to manage its capital base through an on-market share buy-back of its ordinary fully paid shares. In its latest daily update, the company reported that it has repurchased a cumulative 11,652,021 shares under the program as of 3 February 2026, including 297,422 shares bought back on the previous trading day, signalling ongoing efforts to return capital to shareholders and potentially enhance earnings per share by reducing the number of shares on issue.

The most recent analyst rating on (AU:KAR) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

Karoon Energy Reports Ongoing On-Market Share Buy-Back Activity
Jan 29, 2026

Karoon Energy Ltd has provided an updated notification to the ASX on its ongoing on-market share buy-back program for its ordinary fully paid shares. As of 30 January 2026, the company reported that it had repurchased a cumulative total of 10,967,025 shares prior to the previous day, and a further 268,258 shares on the previous trading day, signalling continued execution of its capital management strategy and potential implications for shareholder value through reduced share count.

The most recent analyst rating on (AU:KAR) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

Commonwealth Bank of Australia Ceases to Be Substantial Shareholder in Karoon Energy
Jan 29, 2026

Commonwealth Bank of Australia and its related entities have notified Karoon Energy that they have ceased to be substantial shareholders in the company as of 28 January 2026, following changes in their relevant interests in Karoon’s voting securities. The exit of a major institutional holder may alter Karoon’s share register composition and could affect trading dynamics and investor perception, although no details on the underlying transactions or strategic rationale were disclosed in the notice.

The most recent analyst rating on (AU:KAR) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

Karoon Energy Updates Market on Progress of On-Market Share Buy-Back
Jan 28, 2026

Karoon Energy Ltd has provided an updated notification to the ASX regarding its on-market share buy-back program for its ordinary fully paid shares, KAR. As of 29 January 2026, the company reported that it had repurchased a cumulative total of 10,558,212 shares before the previous trading day and a further 408,813 shares on the previous day, reflecting ongoing execution of a capital management initiative that reduces the number of shares on issue and may enhance earnings per share and shareholder value over time.

The most recent analyst rating on (AU:KAR) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

Commonwealth Bank of Australia Ceases to Be Substantial Holder in Karoon Energy
Jan 27, 2026

Commonwealth Bank of Australia and its related entities have notified Karoon Energy that they have ceased to be a substantial holder in the company as of 26 January 2026. The change, disclosed via a statutory Form 605 notice, signals that CBA’s voting interest has fallen below the substantial holding threshold, indicating a reduction in institutional ownership that may subtly shift the company’s share register dynamics and potentially alter the balance of influence among major shareholders.

The most recent analyst rating on (AU:KAR) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

Karoon Energy Delivers Near-Record 2025 Output as Baúna Efficiency Peaks and Sets Cautious 2026 Outlook
Jan 27, 2026

Karoon Energy reported fourth-quarter 2025 production of 2.37 million barrels of oil equivalent on a net revenue interest basis, down from the prior quarter due to downtime at two Baúna wells and natural decline, but delivered full-year 2025 output of 10.3 million boe, near the top of guidance and close to the previous year’s record. Baúna’s FPSO efficiency climbed to a record 98.8% in the quarter and 95.1% for the year, contributing to strong operating performance, while Who Dat production rose 10% in the quarter and the E6 sidetrack came online in line with expectations. Quarterly sales volumes increased 5% to 2.65 million boe but revenue eased to US$156.1 million on weaker realised oil prices. The company highlighted a solid safety record with no recordable personal injuries or major process incidents, confirmed the appointment of Carri Lockhart as CEO and MD, and noted it has retired about 10% of its shares since 2024 under an ongoing buyback. Looking ahead, Karoon issued preliminary 2026 guidance of 8.1–9.2 million boe with unit production costs of US$12–15/boe and capex of US$110–135 million, flagging 2026 as a year of two halves as an intensive Baúna investment and FPSO maintenance program in the first half is expected to improve efficiency, restore 4,000–5,000 bopd of production and reduce operating costs from mid-2026 onward, while additional infill drilling at Who Dat and a pending change of operator to Harbour Energy at that field are seen as further drivers of long-term value.

The most recent analyst rating on (AU:KAR) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

KKR Entities Exit Substantial Shareholding in Karoon Energy
Jan 26, 2026

KKR-affiliated entities Comet Asia Holdings I and II, KKR Asia III Fund Investments, and KKR Asian Fund III have formally notified that they have ceased to be substantial shareholders in Karoon Energy Ltd as of 22 January 2026. The change, detailed in a substantial holder notice filed under Australia’s Corporations Act, indicates that KKR’s funds no longer hold a reportable voting stake in the company, marking a shift in Karoon’s institutional investor base and potentially altering the profile of its major shareholders going forward.

The most recent analyst rating on (AU:KAR) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

CBA Group Ceases to Be Substantial Shareholder in Karoon Energy
Jan 23, 2026

Commonwealth Bank of Australia and its related entities have lodged a notice that they have ceased to be substantial shareholders in Karoon Energy Ltd as of 22 January 2026. The change reflects a reduction in their relevant interest in Karoon’s voting securities below the substantial holding threshold, signaling a shift in the company’s institutional shareholder base that may alter its ownership dynamics and potentially influence future market perceptions of the stock.

The most recent analyst rating on (AU:KAR) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

Superannuation Investor Exits Substantial Holding in Karoon Energy
Jan 22, 2026

Superannuation and Investments HoldCo Pty Ltd and its related bodies corporate have notified Karoon Energy Ltd that they have ceased to be a substantial shareholder in the company as of 22 January 2026. The change reflects a reduction in their relevant interest and voting power below the substantial holding threshold, signalling a shift in Karoon’s institutional ownership base that may slightly alter the balance of influence among its major investors but does not directly affect day-to-day operations.

The most recent analyst rating on (AU:KAR) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

Karoon Energy Cancels Nearly 1 Million Shares in On-Market Buy-Back
Jan 15, 2026

Karoon Energy Ltd has cancelled 953,934 ordinary fully paid shares as part of an on-market buy-back conducted on 13 January 2026, as disclosed in its latest issued capital notification. The reduction in shares on issue reflects an active capital management strategy that may enhance earnings per share and could signal management’s confidence in the company’s financial position, with implications for shareholder value and the liquidity of KAR securities on the ASX.

The most recent analyst rating on (AU:KAR) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

Karoon Energy Reports Lapse of 250,000-Plus Performance Rights
Jan 15, 2026

Karoon Energy Ltd has notified the market that a total of 250,367 performance rights across several series, expiring between 2027 and 2028, have lapsed as of 31 December 2025 because the vesting conditions were not met or became incapable of being satisfied. The cessation of these securities reduces the company’s potential future share issuance under its incentive plans, slightly limiting prospective dilution for existing shareholders and signalling that certain performance or service milestones tied to these rights were not achieved.

The most recent analyst rating on (AU:KAR) stock is a Hold with a A$1.65 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

Karoon Energy Continues On-Market Share Buy-Back With Latest Daily Update
Jan 11, 2026

Karoon Energy Ltd has provided an updated notification to the ASX regarding its ongoing on-market share buy-back program for its ordinary fully paid shares. As of the latest reporting date, the company has repurchased a cumulative total of 10,272,795 shares prior to the previous day and a further 285,417 shares on the previous day, indicating continued execution of its capital management strategy and potentially signaling confidence in its valuation to investors.

The most recent analyst rating on (AU:KAR) stock is a Hold with a A$1.65 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

Karoon Energy Cancels 4.2 Million Shares After On-Market Buy-Back
Jan 8, 2026

Karoon Energy has cancelled 4,204,412 ordinary fully paid shares following completion of an on-market share buy-back, as disclosed in an Appendix 3H notification to the ASX dated 9 January 2026. The reduction in issued capital is expected to marginally enhance ownership concentration for remaining shareholders and reflects the company’s ongoing use of capital management initiatives to return value and potentially improve key per-share financial metrics.

The most recent analyst rating on (AU:KAR) stock is a Hold with a A$1.65 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

Karoon Energy Sets Out Proposed Key Corporate Dates for 2026
Jan 8, 2026

Karoon Energy has released its proposed 2026 corporate calendar, outlining key dates for quarterly operating updates, full-year and half-year financial results, as well as its annual general meeting and the deadline for director nominations. The schedule provides investors and other stakeholders with greater visibility over the company’s reporting and governance timetable for the year, although Karoon notes that all dates remain subject to change.

The most recent analyst rating on (AU:KAR) stock is a Hold with a A$1.65 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

Karoon Energy Continues On‑Market Share Buy-Back with Daily Purchases
Jan 8, 2026

Karoon Energy Ltd has issued a daily update on its ongoing on-market share buy-back, confirming that a total of 10,126,450 ordinary fully paid shares had been repurchased prior to the latest reporting day, with an additional 146,345 shares bought back on the previous day. The continued execution of this buy-back, first notified in September 2025 and now updated as of 9 January 2026, signals management’s ongoing capital management initiative, which may support earnings per share accretion and reflects confidence in the company’s valuation, with implications for shareholders through a reduced free float and potential enhancement of shareholder value over time.

The most recent analyst rating on (AU:KAR) stock is a Hold with a A$1.65 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

Karoon Energy Updates Market on Progress of On-Market Share Buy-Back
Jan 6, 2026

Karoon Energy Ltd has provided an updated notification to the ASX regarding its ongoing on-market share buy-back program for its ordinary fully paid shares. As at 7 January 2026, the company reports a cumulative total of 9,604,278 shares repurchased prior to the previous trading day, with an additional 227,873 shares bought back on the previous day, indicating active execution of its capital management strategy and a continued focus on returning value to shareholders and optimising its capital structure.

The most recent analyst rating on (AU:KAR) stock is a Hold with a A$1.65 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

Karoon Energy Updates Market on Progress of On‑Market Share Buy‑Back
Jan 5, 2026

Karoon Energy Ltd has provided an updated notification to the ASX regarding its ongoing on-market share buy-back program for its ordinary fully paid shares. As of the latest daily report dated 6 January 2026, the company has bought back a cumulative total of 9,409,772 shares prior to the previous day and a further 194,506 shares on the previous trading day, indicating continued execution of its capital management strategy, which may support earnings per share and signal confidence in the company’s valuation to shareholders.

The most recent analyst rating on (AU:KAR) stock is a Hold with a A$1.65 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

Citigroup Entities Fall Below Substantial Holding Threshold in Karoon Energy
Dec 31, 2025

Citigroup Global Markets Australia Pty Limited and related Citigroup entities have notified Karoon Energy that they have ceased to be substantial shareholders as of 29 December 2025, after a series of changes in their relevant interests in the company’s ordinary fully paid shares. The shifts arose from adjustments in positions held under securities lending arrangements and standard market transactions, with Citibank N.A. Sydney Branch and Citigroup Global Markets Limited reducing their relevant interests while Citigroup Global Markets Australia increased its holding under lending agreements, resulting in Citigroup’s overall stake falling below the substantial holding threshold and signaling a reshaping of Karoon Energy’s institutional ownership profile.

The most recent analyst rating on (AU:KAR) stock is a Hold with a A$1.65 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

Karoon Energy Updates Daily On‑Market Share Buy‑Back Activity
Dec 23, 2025

Karoon Energy Ltd has reported an update to its on-market share buy-back program for its ordinary fully paid shares listed on the ASX under the code KAR. The company disclosed that, as of 24 December 2025, it had repurchased a cumulative total of 9,409,772 shares, including 335,440 shares bought back on the previous trading day, as part of a previously announced buy-back that commenced in September 2025. The continued daily buy-backs indicate an ongoing capital management strategy that may support earnings per share, signal confidence in the company’s valuation, and influence the stock’s trading dynamics for existing shareholders.

The most recent analyst rating on (AU:KAR) stock is a Buy with a A$2.10 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

Karoon Energy Updates Daily Progress on On‑Market Share Buy-Back
Dec 22, 2025

Karoon Energy Ltd has provided an updated notification to the ASX regarding its ongoing on-market share buy-back program for its ordinary fully paid shares. As of 23 December 2025, the company reports that it has repurchased a total of 8,783,714 shares prior to the latest trading day, with an additional 290,618 shares bought back on the previous day. The continued execution of the buy-back indicates Karoon’s active capital management strategy, which may support earnings per share and signal management’s confidence in the company’s valuation to investors.

The most recent analyst rating on (AU:KAR) stock is a Buy with a A$2.10 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

Karoon Energy Reports Progress in Ongoing On-Market Share Buy-Back
Dec 21, 2025

Karoon Energy has provided a daily update on its on-market share buy-back program, confirming that a total of 7,954,815 ordinary fully paid shares had been repurchased prior to the latest reporting date, with a further 828,899 shares bought back on the previous trading day. The ongoing buy-back reduces the company’s shares on issue and signals continued capital management activity, which can support earnings per share and may be viewed by investors as a sign of management’s confidence in the company’s valuation.

The most recent analyst rating on (AU:KAR) stock is a Buy with a A$2.10 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

Karoon Energy Updates Market on Progress of On‑Market Share Buy-Back
Dec 18, 2025

Karoon Energy Ltd has provided an updated notification to the ASX regarding its ongoing on-market share buy-back program for its ordinary fully paid shares. As of 19 December 2025, the company reported that a total of 7,073,863 shares had been repurchased prior to the previous trading day, with an additional 880,952 shares bought back on the previous day, reflecting continued execution of its capital management initiative and a reduction in its shares on issue, which may support earnings per share and signal confidence in the company’s valuation.

The most recent analyst rating on (AU:KAR) stock is a Buy with a A$2.10 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

Karoon Energy Limited Concludes On-Market Buyback of Securities
Dec 18, 2025

Karoon Energy Ltd has completed the cessation of over 1.5 million of its fully paid ordinary securities through an on-market buyback completed on December 17, 2025. This move reflects the company’s active management of its capital structure, potentially leading to enhanced shareholder value and strategic financial positioning in the sector.

The most recent analyst rating on (AU:KAR) stock is a Buy with a A$2.10 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

Karoon Energy Updates on Ongoing Share Buy-Back Program
Dec 16, 2025

Karoon Energy Ltd has announced an update regarding its ongoing on-market buy-back program. As of December 17, 2025, the company has repurchased a total of 6,469,271 ordinary fully paid securities, with 634,552 bought back on the previous day alone. This buy-back initiative is part of Karoon Energy’s strategy to manage its capital structure and potentially enhance shareholder value.

The most recent analyst rating on (AU:KAR) stock is a Buy with a A$2.10 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

Citigroup Ceases to Be Substantial Holder in Karoon Energy
Dec 15, 2025

Karoon Energy Ltd has announced that Citigroup Global Markets Australia Pty Limited and its related entities have ceased to be substantial holders in the company as of December 11, 2025. This change in substantial holding involves a decrease in relevant interest by Citibank, N.A. Sydney Branch and Citigroup Global Markets Limited, while Citigroup Global Markets Australia Pty Limited has increased its relevant interest in the shares. The adjustments in shareholding are part of standard securities lending agreements and stock market transactions, reflecting a shift in the company’s shareholder composition.

The most recent analyst rating on (AU:KAR) stock is a Hold with a A$1.70 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

Karoon Energy Updates on Share Buy-Back Program
Dec 11, 2025

Karoon Energy Ltd has announced an update on its ongoing on-market buy-back program, which involves the repurchase of its ordinary fully paid securities. As of December 12, 2025, the company has bought back a total of 4,867,512 securities, with an additional 245,779 securities repurchased on the previous day. This buy-back initiative is part of Karoon Energy’s strategy to manage its capital structure and potentially enhance shareholder value.

The most recent analyst rating on (AU:KAR) stock is a Hold with a A$1.80 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

Karoon Energy Ltd Updates on Buy-Back Program
Dec 10, 2025

Karoon Energy Ltd has announced an update on its ongoing on-market buy-back program, with a total of 4,547,796 securities bought back before the previous day and an additional 319,716 securities bought back on the previous day. This buy-back initiative is part of the company’s strategy to manage its capital structure and potentially enhance shareholder value.

The most recent analyst rating on (AU:KAR) stock is a Hold with a A$1.80 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

Karoon Energy Updates on Share Buy-Back Progress
Dec 9, 2025

Karoon Energy Ltd has announced an update regarding its ongoing on-market buy-back program. As of December 10, 2025, the company has bought back a total of 4,547,796 ordinary fully paid securities, including 423,966 securities purchased on the previous day. This buy-back initiative is part of Karoon Energy’s strategy to optimize its capital structure and potentially enhance shareholder value.

The most recent analyst rating on (AU:KAR) stock is a Hold with a A$1.80 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

Karoon Energy Ltd Updates on Share Buy-Back Program
Dec 8, 2025

Karoon Energy Ltd has announced an update on its ongoing share buy-back program, with a total of 3,873,709 securities bought back before the previous day and an additional 250,121 securities bought back on the previous day. This buy-back initiative is part of the company’s strategy to manage its capital structure and potentially enhance shareholder value, reflecting a proactive approach to financial management.

The most recent analyst rating on (AU:KAR) stock is a Hold with a A$1.80 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

Karoon Energy Ltd Announces Quotation of New Securities
Dec 5, 2025

Karoon Energy Ltd has announced the quotation of 12,209 ordinary fully paid securities on the Australian Securities Exchange, effective from December 3, 2025. This move is part of the company’s strategic actions to enhance its financial flexibility and support its ongoing projects, potentially impacting its market positioning and offering new opportunities for stakeholders.

The most recent analyst rating on (AU:KAR) stock is a Hold with a A$1.80 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

Karoon Energy Updates on Market Buy-Back Program
Dec 4, 2025

Karoon Energy Ltd has announced an update regarding its ongoing on-market buy-back program. As of December 5, 2025, the company has repurchased a total of 3,246,808 securities, with an additional 331,927 securities bought back on the previous day. This buy-back initiative is part of Karoon Energy’s strategy to manage its capital structure and potentially enhance shareholder value.

The most recent analyst rating on (AU:KAR) stock is a Hold with a A$1.80 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

Karoon Energy Ltd Updates on Buy-Back Program
Dec 1, 2025

Karoon Energy Ltd has announced an update regarding its ongoing on-market buy-back program. The company reported the buy-back of 484,611 ordinary fully paid securities on the previous day, adding to a total of 2,129,184 securities bought back before that day. This buy-back initiative is part of Karoon Energy’s strategy to manage its capital structure and potentially enhance shareholder value.

The most recent analyst rating on (AU:KAR) stock is a Hold with a A$1.80 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

Karoon Energy Ltd Updates on Buy-Back Program
Nov 30, 2025

Karoon Energy Ltd has announced an update regarding its ongoing buy-back program, detailing the acquisition of 342,309 ordinary fully paid securities on the previous day, adding to a total of 1,786,875 securities bought back prior. This buy-back initiative is part of the company’s strategy to manage its capital structure efficiently, potentially enhancing shareholder value and reflecting confidence in its financial health.

The most recent analyst rating on (AU:KAR) stock is a Hold with a A$1.80 price target. To see the full list of analyst forecasts on Karoon Energy Ltd stock, see the AU:KAR Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Oct 25, 2025