Subsea 7 S.A.

Subsea 7 is a provider of seabed-to-surface engineering, construction and services contractor to the offshore energy industry. Co. provides products and services required for subsea field development, including project management, design and engineering, procurement, fabrication, survey, installation, and commissioning of production facilities on the seabed and the tie-back of these facilities to fixed or floating platforms or to the shore. Co. also provides products and capabilities to deliver full Life of Field services to its clients. Through its i-Tech Division, Co. provides remotely operated vehicles and tooling services to support exploration, production and drilling activities.
  • Ticker889539
  • ISINLU0075646355
  • ExchangeBerlin Stock Exchange
  • SectorOil Equipment, Services & Distribution
  • CountryGermany

Analysts

Preston Caldwell

Morningstar | Falling Oil Prices Have Made Oilfield Service Stocks Very Cheap Again

Falling oil prices over the past several months have pushed oilfield service stocks into very cheap territory. West Texas Intermediate crude has fallen from over $65/bbl in late April to about $51/bbl today, below our midcycle forecast of $55/bbl. Our median covered oilfield service company is trading at a 20% discount to fair value. Valuations look about as cheap as they did last December, when many names breached 15-plus year lows. For oilfield service companies, we think the market is pricing in overly pessimistic views on growth in oil and gas capital expenditures, as we've previously hig...

Preston Caldwell

Falling Oil Prices Have Made Oilfield Service Stocks Very Cheap Again

Falling oil prices over the past several months have pushed oilfield service stocks into very cheap territory. West Texas Intermediate crude has fallen from over $65/bbl in late April to about $51/bbl today, below our midcycle forecast of $55/bbl. Our median covered oilfield service company is trading at a 20% discount to fair value. Valuations look about as cheap as they did last December, when many names breeched 15-plus year lows. For oilfield service companies, we think the market is pricin...

Martin Huseby Karlsen

No deepwater spending growth

Yesterday Shell hosted its annual Management Day during which it provided updated guidance, including capex outlook until 2025. For offshore, and deepwater in particular, Shell maintains a disciplined approach, with average deepwater spending for 2021–2025 (until the middle of next decade) down 20–25% versus 2018. Shell continues to focus on increased shareholder returns, as well as maintaining a healthy gearing and this, combined with higher capex for other segments leaves deepwater as a relative loser in the capital allocation battle.

Preston Caldwell

Morningstar | Adjusting Saipem and Subsea 7 FVEs on Revised View on Offshore E&C Market Positioning

We are slightly adjusting our fair value estimates for Saipem and Subsea 7, after reconsidering our forecasts for the relative performance for both in the offshore engineering and construction market (which accounts for about 60% and 100% of each company's operating income, respectively). We've increased our long-term operating margin forecast for Saipem's Offshore E&C segment by about 50 basis points, but lowered our margin forecast for Subsea 7 by about 50 basis points. As a result, our Saipem fair value estimate moves up to EUR 4 per share from EUR 3.75 previously, and conversely our Subsea...

Preston Caldwell

Morningstar | Offshore E&C Market Turnaround Should Lift Subsea 7's Results in Coming Years

Subsea 7 is one of the big three subsea engineering and construction firms for large offshore oil and gas projects, along with TechnipFMC and Saipem. We expect persistent pressure in offshore markets owing to the ascendance of lower-cost U.S. shale oil and gas, and our no-moat rating reflects the difficulty Subsea 7 will face in generating economic profits in such an environment.Nevertheless, we aren’t nearly as pessimistic about future profitability for subsea E&C companies as we are for some other offshore-driven businesses, most notably offshore drilling. For one, subsea E&C is leveraged so...

1 director bought

A director at Subsea 7 Sa bought 1,981,046 shares at 105.701NOK and the significance rating of the trade was 68/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of bo...

Alexander Aukner ...
  • Christoffer Wang Bjørnsen
  • Håkon Astrup
  • Jon Masdal
  • Marius Knudssøn
  • Martin Hoang Nguyen
  • Martin Huseby Karlsen
  • Nicolay Dyvik
  • Ole-Andreas Krohn
  • Patrik Ling
  • Paul Harper
  • Rune Majlund Dahl
  • Simen Mortensen
  • Tomi Railo

Northern Lights

Baptiste Lebacq ...
  • Christophe Chaput
  • Fatma Agnès Hamdani
  • Geoffroy Michalet
  • Hela Zarrouk
  • Jean Sassus
  • Jeremy Garnier
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 05/03/2019

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Baptiste Lebacq ...
  • Christophe Chaput
  • Fatma Agnès Hamdani
  • Geoffroy Michalet
  • Hela Zarrouk
  • Jean Sassus
  • Jeremy Garnier
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 03/05/2019

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Alexander Aukner ...
  • Christoffer Wang Bjørnsen
  • Joachim Gunell
  • Jon Masdal
  • Marius Knudssøn
  • Martin Huseby Karlsen
  • Mattias Holmberg
  • Ole-Andreas Krohn
  • Paul Harper

Northern Lights

Alain William ...
  • Baptiste Lebacq
  • Charles Lepetitpas
  • Christophe Chaput
  • Fatma Agnès Hamdani
  • Geoffroy Michalet
  • Hela Zarrouk
  • Jeremy Garnier
  • Jerôme Bodin
  • Martial Descoutures
  • Nicolas David
  • Nicolas Thorez
  • Olfa Taamallah
  • Olivier Lebrun
  • Oussema Denguir
  • Pierre Corby
  • Rémi Adam
  • Salma Bouraoui
  • Stephane Houri
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 03/01/2019

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Thanks to a better fundamental star rating, SUBSEA 7 SA sees an upgrade to Neutral

The independent financial analyst theScreener just awarded an improved star rating to SUBSEA 7 SA (NO), active in the Oil Equipment & Services industry. As regards its fundamental valuation, the title receives an improved star rating and now shows 4 out of 4 possible stars. With regard to its market behaviour, it remains unchanged and can be qualified as risky. theScreener considers that these elements allow slightly upgrading its rating to Neutral. As of the analysis date March 1, 2019, the closing price was NOK 103.95 and its expected value was estimated at NOK 95.63.

Subsea 7

Subsea 7

Subsea 7

Subsea 7

MarketLine Department

Saipem SpA - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Saipem SpA Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Saipem SpA since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. Key Highlights ...

Subsea 7 SA (SUBC) - Oil & Gas - Deals and Alliances Profile

Summary Subsea 7 S.A. (Subsea 7) is a contractor in seabed-to-surface engineering, construction and services. The company provides engineering, project management, supply chain, and vessel management services. It connects seabed wellhead structures to surface facilities, such as platforms and floating production systems. Subsea 7 offers fully integrated offshore products and services for the inspection, maintenance, and repair of existing offshore infrastructures. The company also installs offshore wind turbines, structures and substations; transports and installs offshore oil and gas structu...

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