Energean stock reports stronger H1 profit as output recovers

Published on 10/05/2026 at 14:17 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Energean stock is tied to USD 160 million in first-half profit after tax, up 45 percent year over year. Production guidance stayed at 130,000-140,000 boepd.

Offshore-Erdgasplattform im Mittelmeer bei Sonnenuntergang mit zwei Versorgungsschiffen — Energean plc GB00B753SF33 zeigt fotorealistisch eine Offshore-Gasplattform im Mittelmeer bei Sonnenuntergang mit Versorgungsschiffen, Illustration mit AI erstellt.

Energean (ISIN GB00BG12Y042) closed at GBp 696.00 on the London Stock Exchange on October 2, 2026, while its latest half-year figures showed profit after tax of USD 160 million. The result was 45 percent above the USD 110 million reported for the first half of 2025, giving the recovery story a measurable earnings base.

Profit rises despite lower revenue

According to Reuters on September 9, 2026, revenue for the six months ended June 30 declined 8 percent to USD 743 million, while first-half production fell 10 percent to 124,000 barrels of oil equivalent per day. Liquids revenue increased 14 percent to USD 267 million as stronger crude prices partly offset lower output.

Investing.com reported on September 9, 2026, that adjusted EBITDAX reached USD 478 million against a USD 410 million consensus estimate. Free cash flow was USD 250 million, up 35 percent year over year, although the company also reduced its quarterly dividend to USD 0.10 per share.

Production recovery sets the next test

Energean maintained full-year 2026 production guidance of 130,000-140,000 barrels of oil equivalent per day. Production averaged 135,000 barrels per day during the first eight months and exceeded 180,000 barrels per day in August, compared with 124,000 barrels per day in the first half.

The operational rebound follows a 41-day suspension of Israeli production earlier in 2026. Reuters said the Katlan offshore gas project remained on track for first gas in the first half of 2027, while the company is also consolidating Egyptian concessions and expanding outside Israel.

Analyst target stays above the price

MarketBeat reported on September 11, 2026, that Berenberg raised its target to GBp 780 from GBp 765 while retaining a Hold rating. The newer target lies 12.1 percent above the October 2 price of GBp 696.00.

MarketBeat lists one Buy and two Hold ratings, producing a Hold consensus from three analysts and an average target of GBp 843.33. That average target lies 21.2 percent above the October 2 price, but the company still carries execution and geopolitical exposure through its Israeli production base and its Katlan investment program.

Energean stock stays below its yearly high

Energean stock closed at GBp 696.00 on the LSE on October 2, 2026. The 52-week range was GBp 674.50 to GBp 1,042.00, while market capitalization stood at GBP 1.3 billion as of October 2, 2026.