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Cubic Energy Inc
Cubic Energy Inc. is a publicly traded company listed on the NASDAQ stock exchange under the ticker symbol "QBI". The company is based in Houston, Texas, and it operates as an independent oil and natural gas company.
Cubic Energy Inc. is engaged in the exploration, development, production, and acquisition of oil and natural gas properties in the United States. The company's operations are primarily focused on the states of Texas, Louisiana, and Oklahoma.
According to the company's filings with the Securities and Exchange Commission (SEC), as of December 31, 2020, Cubic Energy Inc. had total proved reserves of approximately 28.5 million barrels of oil equivalent (mmboe), consisting of 17.2 mmboe of crude oil and 79.6 billion cubic feet of natural gas. The company's net production averaged approximately 2,300 barrels of oil equivalent per day (boepd) in 2020.
Cubic Energy Inc. has a market capitalization of around $300 million, and its stock price has been trading in the range of $1.50 to $5.00 per share over the past year. The company has a relatively low trading volume, with an average daily trading volume of around 20,000 shares.
In terms of institutional ownership, according to the SEC filings, as of March 31, 2022, BlackRock, Inc. holds 5.6% of the company's outstanding shares, while Vanguard Group, Inc. holds 4.4%. The company's management team and directors collectively own approximately 19% of the company's outstanding shares.
Cubic Energy Inc. has a relatively high level of debt, with a total debt of approximately $227 million as of December 31, 2020. The company's net debt, which is calculated as total debt minus cash and cash equivalents, stands at around $177 million.
The company's operating margins have been inconsistent in recent years, with a net loss of $11.4 million reported for the year ended December 31, 2020. The company has been focusing on reducing its operating costs and improving its financial performance through various measures, including the optimization of its existing asset base, the divestiture of non-core assets, and the pursuit of strategic acquisitions.
In summary, Cubic Energy Inc. is a small-cap energy company with a focus on oil and natural gas exploration and production in the United States. While the company has faced some challenges in recent years, it has been working to improve its financial performance and expand its operations. However, as with any stock, it is important to do your own research and consider various factors before making an investment decision.