Finance
Statoil weighed developments on the Oslo stock Exchange on Tuesday, while Norsk Hydro was among the shares that rose.
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Statoil shares fell 3.1 percent after having reported an adjusted operating profit of 1.664 million dollars in the fourth quarter of 2016, against the expected 2.206 million dollars, according to estimates collected by SME Direkt for TDN Finans.
Only seven handledager the past year, Statoil shares fell more on the Oslo stock exchange than on Tuesday. The largest kursnedgangen the last year came 24. February last year. Then sank the stock price by 5.1 per cent to 116,1 million. When was oil prices of around 34 dollars a barrel. Statoil’s share price ended Tuesday at 151,7 million. The price of oil was on Tuesday afternoon at around 55 dollars a barrel.
– part of the deviation against the expectations related to non-recurring items relating to exploration in utenlandsporteføljen, says analyst Christian Yggeseth in Arctic Securities to TDN Finans, adding that both Statoil’s Norwegian operations and midtstrøm-the company delivered better than expected.
the Arctic-the analyst also points out that the more in advance “hoping” that the group came to guide lower investments for 2017 than what the company actually did.
We waited eleven billion dollars, as they also guided, but some analysts expected lower, and it makes a certain amount of disappointment. In addition, guides the company investments up ahead, something that makes the uncertainty around the group’s free cash flow going forward, increase somewhat, says Yggeseth.
– Stands slightly in danger
Statoil’s adjusted net debt / equity ratio increased to 35,6 per cent at the end of the fourth quarter, up from 30.3 per cent from the end of the third quarter.
It is clear that it can indicate that they are a little in danger of a potential downward revision of the credit rating; his, says the Arctic-analyst, and adds that one is a bit back to balansebekymringer in a possible scenario with oljeprisfall.
for positive factors from Statoil Tuesday draws Yggeseth forward that the company guides quite strong production growth going forward, as well as investments in 2016 was lower than what Statoil has previously indicated.
Statoil was traded for 782 million on the Oslo stock Exchange.
Hydro-lift
Among the shares which pulled the benchmark index on the Oslo stock Exchange the most up on Tuesday was Norsk Hydro, which rose for the third trading day in a row. Hydro shares ended up 1.4 per cent to 48,65 million Tuesday.
Credit Suisse raised its price target on the Hydro share to 56 million from the previous 48 million. “Outperform”recommendation emphasized. The investment firm, write that the growing aluminiumetterspørsel in the face of tilbudskutt is expected to provide significantly higher prices.
In the analysis estimates the analysts Hydro-valuation of 70 million in a “blue sky”scenario, where it is assumed that the chinese government implements a aluminiumsproduksjonsreform to better luftforurensingen in the country, according to the analysis.
Norsk Hydro share was sold for 398 million on the Oslo stock Exchange.
Waiting on the Aker Solutions
Within oljeservicesektoren directed the attention of market participants later in the week against Aker Solutions, which sets out the quarterly figures on Thursday.
Nordea Markets shows in an update on Tuesday that in the course of the last year has seen several major changes in the oljeservicesektoren.
With three major consolidations, the competition increased significantly in the market, which increases the risk that Aker Solutions will lose market share over the next five years, believes the investment firm.
“This concern, combined with the fact that the company now only accounts for nine per cent of Aker’s portfolio, increases the likelihood that Aker Solutions will be able to be a part of the consolidation in 2017. For Aker on Ocean Yield and Aker BP far more important pieces,” writes Nordea Markets, who maintains his hold recommendation on Aker Solutions at the forefront of the quarterly report Thursday.
the main index on the Oslo stock Exchange fell 0.01 per cent to 701,53 points, traded for 3.267 million.
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