Education
About Us
Working with TipRanks
Follow Us
Pieridae Energy (TSE:PEA)
TSX:PEA
Top Page
Pieridae Energy
(TSX:PEA)
52Neutral
Pieridae Energy (PEA) vs. S&P 500 (SPY)
Market Cap
C$92.92M
Dividend YieldN/A
Average Volume (3M)64.70K
Price to Earnings (P/E)―
Beta (1Y)1.15
Revenue Growth-46.27%
EPS Growth-452.35%
CountryCA
Employees262
SectorEnergy
Sector Strength47
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)-0.08
Shares Outstanding290,387,630
10 Day Avg. Volume17,796
30 Day Avg. Volume64,705
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.00
Price to Cash Flow (P/CF)0.00
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
Pieridae Energy Business Overview & Revenue Model
Company DescriptionPieridae Energy Limited operates as an energy producing company in Canada. The company operates through two segments: Upstream and Liquefied Natural Gas (LNG). The Upstream segment owns petroleum and natural gas production operations and properties in Western Canada. The LNG segment focuses on the development of an integrated LNG facility in Goldboro, Nova Scotia. As of December 31, 2021, the company owned land holdings located in the provinces of Alberta, Saskatchewan, Québec, and New Brunswick, which covers a total area of approximately 1,524,533 acres on a gross basis and approximately 1,179,628 acres on a net basis. The company was founded in 2011 and is headquartered in Calgary, Canada.
How the Company Makes MoneyPieridae Energy makes money through several key revenue streams. Primarily, the company generates income from the sale of oil and natural gas that it produces from its exploration and production activities. Additionally, Pieridae is involved in the liquefied natural gas (LNG) sector, where it seeks to profit by exporting LNG to international markets, thus capitalizing on global energy demand. The company's revenue is further supported by strategic partnerships and joint ventures that enhance its operational capabilities and market reach. These partnerships not only provide access to additional resources and markets but also contribute to cost efficiencies and shared expertise, ultimately boosting profitability.
Pieridae Energy Financial Statement Overview
Summary
Pieridae Energy faces challenges in revenue stability and profitability, with high leverage and inconsistent cash flow performance. The company needs to focus on improving profitability and managing debt levels to enhance financial health.Income Statement
Revenue has been volatile with a decrease in 2024 compared to 2023, showing a negative growth trend. The company has struggled with profitability as indicated by negative net income in recent years, causing weak net profit and EBIT margins. Despite the challenges, EBITDA margins indicate some operational efficiency.―
Balance Sheet
Pieridae Energy has a high debt-to-equity ratio, reflecting significant leverage which could pose risks. However, the company has improved its equity position over time, evidenced by a positive equity ratio in 2024 compared to previous years. Return on equity has been fluctuating but remains negative in 2024.50
Cash Flow
The company shows declining operating cash flow and negative free cash flow in 2024. The free cash flow to net income ratio is not favorable, indicating challenges in converting income to cash. The operating cash flow to net income ratio is concerning due to negative net income.―
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 222.77M | 368.14M | 487.83M | 334.65M | 238.08M | Gross Profit |
| 141.54M | 60.98M | 356.20M | 254.81M | -18.98M | EBIT |
| 0.00 | 36.49M | 97.59M | -6.32M | -65.83M | EBITDA |
| 29.40M | 103.96M | 176.49M | 42.10M | -7.82M | Net Income Common Stockholders |
| -38.91M | 8.98M | 146.58M | -87.99M | -160.44M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 8.58M | 18.33M | 22.27M | 26.22M | 11.07M | Total Assets |
| 612.42M | 638.54M | 615.48M | 622.54M | 612.65M | Total Debt |
| 172.51M | 175.73M | 206.94M | 234.31M | 222.57M | Net Debt |
| 163.94M | 157.39M | 184.67M | 208.10M | 211.50M | Total Liabilities |
| 444.00M | 464.13M | 500.72M | 655.75M | 608.27M | Stockholders Equity |
| 168.43M | 174.75M | 115.10M | -32.83M | 4.65M |
| Cash Flow | Free Cash Flow | |||
| -18.57M | 48.66M | 48.64M | 16.20M | -16.33M | Operating Cash Flow |
| 7.13M | 104.20M | 88.17M | 51.12M | 909.00K | Investing Cash Flow |
| -18.15M | -58.90M | -28.86M | -33.51M | -13.67M | Financing Cash Flow |
| 1.26M | -49.25M | -63.10M | -2.80M | 14.25M |
Pieridae Energy Technical Analysis
Positive
0.32
Price Trends
0.30
Positive
0.29
Positive
0.28
Positive
Market Momentum
<0.01
Positive
48.93
Neutral
6.67
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:PEA, the sentiment is Positive. The current price of 0.32 is below the 20-day moving average (MA) of 0.33, above the 50-day MA of 0.30, and above the 200-day MA of 0.28, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 48.93 is Neutral, neither overbought nor oversold. The STOCH value of 6.67 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:PEA.
Pieridae Energy Peers Comparison
Overall Rating
UnderperformOutperform
Sector (56)
Financial Indicators
Performance Comparison
TSE:PEA
Pieridae Energy
0.32
-0.09
-21.95%
CNNEF
Canacol Energy
2.09
-1.51
-41.94%
PBEGF
Touchstone Exploration
0.28
-0.21
-42.86%
TSE:YGR
Yangarra Resources
0.80
-0.37
-31.62%
JRNGF
Journey Energy
0.98
-1.57
-61.57%
TSE:AXL
Arrow Exploration Corp
0.26
-0.08
-23.53%
Pieridae Energy Earnings Call Summary
Earnings Call Date:Mar 20, 2025
(Q4-2024)
| % Change Since: 18.52%|
Next Earnings Date:May 07, 2025
Earnings Call Sentiment Neutral
The earnings call reflects a balanced outlook. While the company achieved significant milestones like debt repayment and equity raising, it faced challenges such as production shut-ins and operating cost pressures. The anticipation of future sulphur revenue growth and strong hedge gains provide optimism for the future.Q4-2024 Updates
Positive Updates
Goldboro Sale and Debt Repayment
The sale of the Canadian East Coast LNG facility in Nova Scotia helped Pieridae Energy fully repay the remaining $20 million principal amount on the bridge loan, decreasing debt servicing costs and simplifying business operations.
Successful Equity Raise
Pieridae Energy completed a $33.5 million equity raise through a private placement and an equity rights offering, with proceeds partially allocated to existing debt and working capital liabilities.
Waterton Gas Plant Turnaround
The successful completion of Phase 2 of the Waterton gas plant maintenance turnaround means the next turnaround is not scheduled until 2029.
Strong Hedge Gains
The company generated a full-year hedge gain of $74 million, providing financial stability despite low gas prices.
Sulphur Market Opportunity
Pieridae Energy anticipates significant sulphur revenue growth starting in 2026, with current market prices around $200 per metric ton.
Negative Updates
Natural Gas Production Shut-ins
Due to low natural gas prices, the company shut in a large portion of dry natural gas production tied to third-party facilities, impacting full-year and fourth-quarter results.
Operating Cost Challenges
Fourth-quarter operating costs were $43 million, or $20.61 per BOE, with costs experiencing upward pressure due to lower production volumes.
Third-party Revenue Decline
There was a reduction in third-party processing revenues of $10 million year-over-year, primarily due to extended outages and shut-ins by third-party producers.
Decrease in Reserves
There was a modest decrease of 9% year-over-year in 2P reserves PV10%.
Company Guidance
During the Pieridae Energy Q4 and Full Year 2024 Financial Results Conference Call, the company provided extensive guidance on their strategic milestones and financial performance. Key achievements in 2024 included the completion of the Goldboro sale, which allowed Pieridae to fully repay a $20 million bridge loan, and a $33.5 million equity raise directed towards debt reduction and high-return optimization projects. The company also completed Phase 2 of the Waterton gas plant maintenance turnaround. Despite persistent low natural gas prices, Pieridae's financial hedge position yielded a full-year hedge gain of $74 million, contributing to a net operating income of $65 million for 2024. Their production averaged 27,800 BOE per day for the year, although Q4 production was lower at 22,600 BOE per day due to strategic shut-ins. Additionally, the company reported capital expenditures of $26 million for the year, primarily aimed at facility optimizations. With a PDP net asset value of $312 million and a 2P NAV of $941 million, the shares are considered undervalued compared to their net asset value. Looking to the future, Pieridae plans to capitalize on the expiration of a fixed-price sulphur contract in 2025, potentially generating significant additional cash flow given current sulphur market prices.Pieridae Energy Corporate Events
Shareholder MeetingsFinancial Disclosures
Pieridae Energy to Announce Q1 2025 Results and Host Shareholder Meeting
Neutral
Apr 1, 2025
Pieridae Energy announced it will release its first quarter 2025 financial and operating results on May 7, 2025, after market close. The company will host a conference call and webcast on May 8, 2025, to discuss these results and recent developments, which could provide insights into its operational performance and strategic direction.
Delistings and Listing ChangesShareholder MeetingsBusiness Operations and Strategy
Pieridae Energy to Rebrand as Cavvy Energy, Reflecting Strategic Shift
Neutral
Mar 28, 2025
Pieridae Energy Limited has announced its intention to change its name to Cavvy Energy Ltd., pending shareholder approval at its upcoming meeting. This rebranding aligns with the company’s strategic shift towards focusing on its western Canadian upstream and midstream business, having divested its east coast LNG assets. The name ‘Cavvy’ is inspired by western ranching traditions, reflecting the company’s values and Canadian roots. The name change, subject to regulatory approval, will see the company trading under the new stock symbol ‘CVVY’ on the Toronto Stock Exchange shortly after the effective date.
M&A TransactionsBusiness Operations and StrategyFinancial Disclosures
Pieridae Energy Achieves Strategic Milestones Amid 2024 Financial Results
Neutral
Mar 20, 2025
Pieridae Energy Limited reported its financial and operational results for the fourth quarter and full year 2024, highlighting significant strategic milestones. The company achieved a net operating income of $64.6 million and managed to reduce operating expenses by 17% compared to 2023. Pieridae also completed the divestiture of its legacy LNG assets and repaid a high-cost bridge loan, raising over $33 million in equity to invest in production and optimization projects. Despite a net loss of $38.9 million, the company has positioned itself for future growth by focusing on cost reduction, debt repayment, and capitalizing on new opportunities. Key priorities for 2025 include repositioning its sulphur business and consolidating shut-in raw gas into its Caroline Gas Plant.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
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.