Aker BP ASA

Aker BP ASA engages in the exploration, development, and production of petroleum resources on the Norwegian Shelf. In addition, Co. has a separate Johan Sverdrup business unit to manage its interest.
  • TickerDETNOR
  • ISINNO0010345853
  • ExchangeOslo Bors
  • SectorOil & Gas Producers
  • CountryNorway

Analysts

Moody's announces completion of a periodic review of ratings of Aker BP ASA

Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Aker BP ASA. Global Credit Research- 16 Jul 2019. London, 16 July 2019-- Moody's Investors Service has completed a periodic review of the ratings of Aker BP ASA and other ratings that are associated with the same analytical unit.

Alexander Aukner ...
  • Frank Maaø
  • Jon Masdal
  • Marius Knudssøn
  • Martin Hoang Nguyen
  • Nicolay Dyvik
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Rune Majlund Dahl
  • Simen Mortensen
  • Stefan Gauffin

Northern Lights

Jon Masdal

Aker BP (Buy, TP: NOK320.00) - Q2: more than we asked for

Q2 was solid with EBITDA beating our and consensus numbers by 4%. With some tweaking of the guidance by management, we have made only limited 2019e adjustments, mainly related to lower opex per barrel for H2. We have lifted our NAV after the sizeable Liatårnet discovery; BUY and NOK320 target price maintained.

Jon Masdal

Aker BP (Buy, TP: NOK320.00) - Looking beyond Q2 to bright future

We are 2% below consensus on Q2e EBITDA (results due at 07:00 CET on 12 July) on slightly higher expenses. We do not expect the guidance to be updated with the results. We have lowered our target price to NOK320 (330) after updating our NAV for FX and lower oil and gas prices, but with the stock trading at a P/NAV of 1x, we reiterate our BUY.

Håkon Astrup ...
  • Jimi Lehtonen
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Ole-Andreas Krohn
  • Rune Majlund Dahl
  • Simen Mortensen

Northern Lights

Moody's announces completion of a periodic review of ratings of Aker BP ASA

Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Aker BP ASA. Global Credit Research- 16 Jul 2019. London, 16 July 2019-- Moody's Investors Service has completed a periodic review of the ratings of Aker BP ASA and other ratings that are associated with the same analytical unit.

Aker BP ASA: Update to Key Credit Considerations

A detailed rationale for Aker BP's Ba1 stable rating reflecting a robust operating profile and moderate leverage tempered by projected negative free cash flow owing to sustained capex.

Aker BP ASA: Covenant Quality Pre-Sale Snapshot: $500m _% Senior Notes due 2024

Aker BP ASA’s (the “Company”) unsecured notes covenant package is “high-yield lite” under our criteria.

Aker BP ASA: Update to Key Credit Considerations

Aker BP's credit rating is underpinned by an increasing production profile translating into improving financial and liquidity metrics amid a more benign oil & gas price environment

Jon Masdal

Aker BP (Buy, TP: NOK320.00) - Q2: more than we asked for

Q2 was solid with EBITDA beating our and consensus numbers by 4%. With some tweaking of the guidance by management, we have made only limited 2019e adjustments, mainly related to lower opex per barrel for H2. We have lifted our NAV after the sizeable Liatårnet discovery; BUY and NOK320 target price maintained.

Jon Masdal

Aker BP (Buy, TP: NOK320.00) - Looking beyond Q2 to bright future

We are 2% below consensus on Q2e EBITDA (results due at 07:00 CET on 12 July) on slightly higher expenses. We do not expect the guidance to be updated with the results. We have lowered our target price to NOK320 (330) after updating our NAV for FX and lower oil and gas prices, but with the stock trading at a P/NAV of 1x, we reiterate our BUY.

Jon Masdal

Aker BP (Buy, TP: NOK330.00) - P/NAV now at an attractive level

With the share price down 20% since 23 April, the stock is once again below our estimated NAV. Historically, this has served as an attractive entry point and we have thus upgraded the stock to BUY (HOLD) with our NOK330 target price unchanged. In 2018, the average P/NAV was 1.25x. We consider our upgrade a valuation call, and believe investors should use the recent share price decline to revisit Aker BP.

Jon Masdal

Aker BP ASA (Buy, TP: NOK312.00) - Q4 with few surprises

Aker BP delivered lower than expected reported EBITDA, mainly due to a valuation effect on the underlift balance. Adjusted EBITDA was below our expectation by 5% and consensus by 6% on slightly higher production cost. We have made only smaller estimate revisions, as we consider the Q4 report rather uneventful given the recent introduction of 2019 guidance at the CMD. We believe the 2019e yield of 6.3%, and growing DPS, offers an attractive investment case; BUY and NOK312 target reiterated.

Jon Masdal

Aker BP ASA (Buy, TP: NOK308.00) - Set for a new leg in operational uplift

We consider Aker BP well positioned to lift its NAV further from efficiency improvements and by unlocking value from contingent resources. We have upgraded the stock to BUY (HOLD) and raised our target price to NOK308 (303) ahead of the CMD, as we expect a strong message on the company’s operational improvements and digitalisation efforts along with exciting near-term exploration potential.

1 director bought

A director at Aker Bp Asa bought 5,770 shares at 289.550NOK and the significance rating of the trade was 76/100. 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 board ...

Alexander Aukner ...
  • Frank Maaø
  • Jon Masdal
  • Marius Knudssøn
  • Martin Hoang Nguyen
  • Nicolay Dyvik
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Rune Majlund Dahl
  • Simen Mortensen
  • Stefan Gauffin

Northern Lights

Håkon Astrup ...
  • Jimi Lehtonen
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Ole-Andreas Krohn
  • Rune Majlund Dahl
  • Simen Mortensen

Northern Lights

Christoffer Wang Bjørnsen ...
  • Eivind Sars Veddeng
  • Håkon Astrup
  • Jon Masdal
  • Jørgen Lian
  • Karl-Johan Bonnevier
  • Martin Hoang Nguyen
  • Mats Bye
  • Nicolay Dyvik
  • Ole-Andreas Krohn
  • Patrik Ling
  • Simen Mortensen
  • Stefan Gauffin

Northern Lights

Christer Magnergård ...
  • Christoffer Wang Bjørnsen
  • Eivind Sars Veddeng
  • Joachim Gunell
  • Jon Masdal
  • Martin Arnell
  • Martin Hoang Nguyen
  • Mattias Holmberg
  • Nicolay Dyvik
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Patrik Ling
  • Rune Majlund Dahl
  • Simen Mortensen

Northern Lights

Christoffer Wang Bjørnsen ...
  • Eivind Sars Veddeng
  • Håkon Astrup
  • Jesper Ingildsen
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Marius Knudssøn
  • Martin Hoang Nguyen
  • Niclas Gehin
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Simen Mortensen

Northern Lights

DET NORS.OLJESELSKAP ASA sees a downgrade to Slightly Negative on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of DET NORS.OLJESELSKAP ASA (NO), active in the Exploration & Production industry. As regards its fundamental valuation, the title now shows 1 out of 4 stars while market behaviour can be considered risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Slightly Negative. As of the analysis date April 26, 2019, the closing price was NOK 288.50 and its target price was estimated at NOK 244.13.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Expert Corporate Governance Service (ECGS)

Aker April 11th, 2019

In general, Aker BP is in compliance with the Norwegian regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEM 5, the board of directors seeks approval of the Company's remuneration guidelines. The proposed remuneration structure is not in line with ECGS' guidelines. ECGS therefore recommends to vote OPPOSE. Under ITEM 9, the nomination committee seeks approval of the (re-)election of the board of directors. In view of insufficient independent representation on the board, ECGS recommends to vote OPPOSE. Under ITEM 11, the board of directors seeks a...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

MSCI EAFE inflecting, aided by strength in Japan Developed international (MSCI EAFE, local currency) is displaying a change in trend, bullishly inflecting topside its downtrend and putting an end to the YTD pattern of lower highs. Despite this incrementally positive development, our outlook remains neutral for MSCI EAFE as there are still many additional resistance areas the index needs to overcome before we would turn outright bullish... see chart below. • Japan: Not too late to add exposure. Improvements in Japan are leading broad developed int'l indexes higher. Last week we highlighted bu...

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