CARNARVON ENERGY LIMITED (CVN)
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CVN

CVN - CARNARVON ENERGY LIMITED

FNArena Sector : Crude Oil
Year End: June
GICS Industry Group : Energy
Debt/EBITDA: -0.08
Index: ALL-ORDS

Carnarvon Petroleum is an Australian oil and gas explorer operating in Western Australia's North West Shelf. The company has been listed since 1984.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$0.115

14 Apr
2026

-0.005

OPEN

$0.12

-4.17%

HIGH

$0.12

2,594,384

LOW

$0.11

TARGET
$0.14 21.7% upside
Franking for last dividend paid out: 0%
OTHER COMPANIES IN THE SAME SECTOR
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FNARENA'S MARKET CONSENSUS FORECASTS
CVN: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 0.2 N/A xxx
DPS (cps) xxx 0.0 N/A xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A N/A xxx
Dividend Yield xxx N/A 0.0% xxx
Div Pay Ratio(%) xxx N/A N/A xxx

Dividend yield today if purchased 3 years ago: 0.00%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.00

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages
HISTORICAL DATA ARE ALL IN AUD
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Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx0.2
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx0.0 M
Book Value Per Share xxxxxxxxxxxxxxx15.2
Net Operating Cash Flow xxxxxxxxxxxxxxx6.0 M
Net Profit Margin xxxxxxxxxxxxxxx-

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx1.36 %
Return on Invested Capital xxxxxxxxxxxxxxx1.36 %
Return on Assets xxxxxxxxxxxxxxx1.34 %
Return on Equity xxxxxxxxxxxxxxx1.36 %
Return on Total Capital xxxxxxxxxxxxxxx-1.86 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx6.0 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx0 M
Long Term Debt xxxxxxxxxxxxxxx0 M
Total Debt xxxxxxxxxxxxxxx0 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx186 M
Price To Book Value xxxxxxxxxxxxxxx0.69

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx2.9 M
Capex % of Sales xxxxxxxxxxxxxxx-
Cost of Goods Sold xxxxxxxxxxxxxxx0 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx5 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx0 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

1.0

No. Of Recommendations

1
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Ord Minnett

07/04/2026

1

Buy

$0.14

21.74%

Ord Minnett has reviewed its commodity price assumptions and energy sector coverage as the war in the Middle East continues amid considerable damage to production facilities in the Persian Gulf.

The review has resulted in increases to June quarter spot price assumptions, representing a rise of 33% for both Brent crude and LNG. This in turn drives steep earnings upgrades for some producers and more modest changes to others under the broker's coverage.

A price of US$100/barrel is forecast for the first half of 2026 for Brent before a gradual retreat to US$85/barrel in the second half. LNG prices are assumed at US$20/mmBtu in the first half and remain elevated for the rest of the year.

Ord Minnett retains a Buy rating for Carnarvon Energy with a $0.14 target.
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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Canaccord Genuity

10/11/2025

3

Hold

$0.12

4.35%

Canaccord Genuity notes East Coast gas prices rose slightly during the quarter to average $12.62/GJ, up from $12.38/GJ in the June quarter and flat year-on-year. Domestic demand declined modestly by -3.4PJ, mainly due to lower power generation use.

Key developments included the federal gas market review, XRG withdrawing its bid for Santos, and the start of exploration drilling in the Otway Basin.

Carnarvon Energy has completed its strategic investment in Strike Energy ((STX)), acquiring up to 19.9% of issued capital for up to $89m.

The broker describes the cross-holding as unusual, citing limited strategic rationale or synergy given Strike’s onshore focus. Dorado JV timelines are being reassessed, leading Canaccord to delay first production to 2028 and reduce risk weightings.

As a result, target price falls to $0.12 from $0.14, with the Hold rating maintained. Carnarvon ended the quarter with $99m cash, no debt, and retains a US$90m development cost carry for Dorado.
Access Extra Coverage Research History >

CVN STOCK CHART

FNArena News on CVN

1
Australian Broker Call *Extra* Edition – Mar 18, 2026

Mar 18 2026 - Daily Market Reports
2
Australian Broker Call *Extra* Edition – Jan 29, 2026

Jan 29 2026 - Daily Market Reports
3
Australian Broker Call *Extra* Edition – Nov 10, 2025

Nov 10 2025 - Daily Market Reports
4
Australian Broker Call *Extra* Edition – Sep 04, 2025

Sep 04 2025 - Daily Market Reports
5
In Case You Missed It – BC Extra Upgrades & Downgrades – 15-08-25

Aug 15 2025 - Weekly Reports

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