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

Subsea 7

Subsea 7

Baptiste Lebacq

Subsea 7 : Le retour à l’actionnaire reste la priorité

>Opinion Achat avec un OC 145 NOK maintenue - Nous maintenons notre opinion Achat sur le titre avec un objectif de 145 NOK. Post publication, nous avons ajusté notre séquence de BPA essentiellement en dessous de l’EBITDA afin d’intégrer notamment une charge d’impôt plus élevée qu’initialement escompté ainsi que les effets du nouveau programme de rachats d’actions. Notre objectif de cours reste inchangé et basé un multiple d’EBITDA 12M fwd de 6x. Subsea 7 reste notre t...

Baptiste Lebacq

Subsea 7 : Le retour à l’actionnaire reste la priorité

>Opinion Achat avec un OC 145 NOK maintenue - Nous maintenons notre opinion Achat sur le titre avec un objectif de 145 NOK. Post publication, nous avons ajusté notre séquence de BPA essentiellement en dessous de l’EBITDA afin d’intégrer notamment une charge d’impôt plus élevée qu’initialement escompté ainsi que les effets du nouveau programme de rachats d’actions. Notre objectif de cours reste inchangé et basé un multiple d’EBITDA 12M fwd de 6x. Subsea 7 reste notre t...

Martin Huseby Karlsen

Subsea 7 (Buy, TP: NOK105.00) - BUY on attractive valuation

We expect seasonality to help Subsea 7 to a decent Q2, reflected in our EBITDA of USD172m, above consensus of USD165m. While order intake YTD has been weak, and we believe is a growing investor concern (we estimate Subsea 7 has only received c10% of the USD value of global SURF orders), we see support for the shares in improved orders in H2 2019. However, we also expect growing focus on the PLSV rollovers in 2021–2022. While we are 12–18% below consensus on 2020–2021e adj. EBITDA, we believe Subsea 7 is attractively valued and have upgraded to BUY (HOLD), but trimmed our target price to NOK105...

Martin Huseby Karlsen

Mid-year look at EP spending suggests offshore still flattish

Ahead of the ‘E&P Spending survey season’ over the next few months, we have taken an early look at spending trends from the major offshore names. Several of the key deepwater clients have provided longer-term updates, with focus on a continued disciplined approach to spending, while at the same time increasing shareholder returns. While there is some opportunistic spending, which we welcome, the oil companies do not want to overspend cash flow and we calculate that an oil price of USD65/bbl is needed on average to avoid this. A stable oil price above this level is a prerequisite to see meaning...

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...

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...

Christer Magnergård ...
  • Eivind Sars Veddeng
  • Joachim Gunell
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Marius Knudssøn
  • Martin Arnell
  • Martin Hoang Nguyen
  • Martin Huseby Karlsen
  • Mattias Holmberg
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Simen Mortensen
  • Stefan Gauffin
  • Tomi Railo

Northern Lights

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

...

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

...

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

Northern Lights

Subsea 7

Subsea 7

Subsea 7

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

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 ...

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