Karoon stock gains 2.93 percent while Macquarie upgrades rating

Published on 10/08/2026 at 09:00 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Karoon stock traded at AUD 1.58 on October 8, 2026, while Macquarie upgraded its rating from Neutral to Outperform. First-half revenue was USD 244.9 million.

Karoon, AU000000KAR6, Illustration mit AI erstellt.

Karoon (ISIN AU000000KAR6) was last at AUD 1.58 on the ASX on October 8, 2026, up 2.93 percent from AUD 1.53. The latest broker signal came from FNArena, which reported on October 5, 2026, that Macquarie upgraded Karoon from Neutral to Outperform.

Macquarie changes its rating

The upgrade gives the October market move a separate valuation signal, but FNArena's report does not state that the rating action caused the session gain. The distinction matters because Karoon is still dealing with lower production guidance after operational problems at its Brazilian and Gulf of Mexico assets.

Karoon's 2026 production guidance now stands at 6.6 million to 7.2 million barrels of oil equivalent, a lower range than the 7.2 million to 8.2 million range cited in recent analyst coverage. The revised operating outlook leaves production execution as the main counter-factor to the improved broker stance.

Half-year figures show the pressure

Simply Wall St reported that Karoon's first-half fiscal 2026 revenue was USD 244.9 million, down 21 percent from the comparable period, while net income fell 62 percent to USD 26.7 million. First-half earnings per share were USD 0.037, down from USD 0.095 in first-half fiscal 2025.

The figures show why the rating change does not remove the execution issue. Revenue declined by USD 65.1 million from the prior comparable period, while net income declined by USD 44.3 million, leaving a reported profit margin of 11 percent against 23 percent in first-half fiscal 2025.

Results date is October 22

Karoon's investor-relations calendar lists October 22, 2026, for its third-quarter 2026 results. The date places the next operating checkpoint within the current production reset and gives investors a defined point for updates on output, costs and asset repairs.

Karoon stock stays below its yearly high

Karoon stock was last at AUD 1.58 on the ASX on October 8, 2026 at 3:11 p.m. AEDT, with volume of 5,121,911 shares. The AUD 1.25 to AUD 2.26 52-week range puts the latest quote 30.1 percent below the yearly high.