Lundin Petroleum AB

Lundin Petroleum is an oil and gas company. Co. has a global portfolio of assets with two main areas located in Norway and South East Asia. As of Dec 31 2014, Co. held close to 70 licences in Norway, with activities across exploration, appraisal, development and production. Co. also operated within several geographical areas, including France, Netherlands, Malaysia, Indonesia, Russia, Sweden and other countries.
  • TickerLUPE
  • ISINSE0000825820
  • ExchangeNasdaq Nordic Stockholm
  • SectorOil & Gas Producers
  • CountrySweden

Analysts

1 director maiden bought

A director at Lundin Petroleum Ab maiden bought 2,000 shares at 275.250SEK and the significance rating of the trade was 55/100. 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 ...

Helge André Martinsen

Lundin Petroleum (Sell, TP: SEK228.00) - Unexplainably expensive

We reiterate our SELL recommendation and SEK228 target price after the Q2 results. We believe Lundin shares are extremely expensive at current levels, but our sell case lacks negative triggers. We believe today’s +5% share price reaction was unwarranted, as the Q2 results were largely in line with consensus, and consensus had already factored in the upward revision of production guidance. Our 2019/2020e EPS have been increased 1% post Q2.

Helge André Martinsen

Lundin Petroleum (Sell, TP: SEK228.00) - Q2 on the positive side

Q2 EBITDAX was USD508m (1% above consensus, 3% above our forecast), while operating cash flow was 5% above consensus and 1% above our forecast. Q2 production of 81.2kboed was 1% below consensus and our estimate. The 2018 production guidance was raised slightly. We expect a positive share price reaction today (1–2%). The conference call starts at 09:00 CEST (-petroleum.com).

Helge André Martinsen

Lundin Petroleum (Sell, TP: SEK228.00) - Neutral Q2 expected

Lundin’s Q2 results are due at 07.30 CET on 31 July. We are 2% below consensus Q2 EBITDA. Our 82kboed production estimate is in line with consensus and at the high end of full-year company guidance of 74k–82kboed; we believe Lundin could notch up the mid-point guidance at Q2. We like Lundin for its high-quality asset portfolio, and inherent upside risk to key assets Sverdrup and Grieg. However, the valuation appears inflated, with an implied oil price of ~USD100/bbl based on our NAV; thus we reiterate our SELL recommendation and SEK228 target price.

Helge André Martinsen

Lundin Petroleum (Sell, TP: SEK228.00) - Fully valued and then some

Lundin reported Q1 EBITDAX 3% below consensus and 2% above our estimate, while operating cash flow was strong. Management reiterated production guidance, but indicated risk skewed to the upside. We have made limited changes to our 2019/2020e, and reiterate SELL. Lundin looks overvalued on both NAV and DCF, and we advise investors to use the – in our view unwarranted – positive share price reaction as a selling opportunity.

Helge André Martinsen

Lundin Petroleum (Sell, TP: SEK228.00) - Roughly in line with expectations

Q1 EBITDAX was USD457m (2% below consensus, 3% above our forecast), while operating cash flow was 9% above consensus and 3% above our forecast. Q1 production of 83.1kboed was 1% above consensus and our estimate. There was no change to the 2018 guidance. We expect a neutral share price reaction today. The conference call starts at 09:00 CEST (www.lundin-petroleum.com)

1 director maiden bought

A director at Lundin Petroleum Ab maiden bought 2,000 shares at 275.250SEK and the significance rating of the trade was 55/100. 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 ...

Alexander Aukner ...
  • Helge André Martinsen
  • Mattias Holmberg
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Rune Majlund Dahl

Northern Lights

Antti Kansanen ...
  • Christer Magnergård
  • Eivind Sars Veddeng
  • Helge André Martinsen
  • Karl-Johan Bonnevier
  • Marius Knudssøn
  • Martin Arnell
  • Martin Huseby Karlsen
  • Niclas Gehin
  • Nicolay Dyvik
  • Ole-Andreas Krohn
  • Patrik Ling

Improving sales mix in H2

Antti Kansanen ...
  • Eivind Sars Veddeng
  • Helge André Martinsen
  • Karl-Johan Bonnevier
  • Martin Arnell
  • Ole-Andreas Krohn
  • Rune Majlund Dahl

Northern Lights

Alexander Aukner ...
  • Christoffer Wang Bjørnsen
  • Helge André Martinsen
  • Jesper Ingildsen
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Martin Kaland
  • Nicolas McBeath
  • Nicolay Dyvik
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Rune Majlund Dahl

Northern Lights

Alexander Aukner ...
  • Antti Kansanen
  • Christer Magnergård
  • Håkon Astrup
  • Helge André Martinsen
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Marius Knudssøn
  • Martin Arnell
  • Martin Huseby Karlsen
  • Mattias Holmberg
  • Mattias Montgomery
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Rune Majlund Dahl

Northern Lights

With a more favourable environment, LUNDIN PETROLEUM AB improves to Slightly Positive

LUNDIN PETROLEUM AB (SE), a company active in the Exploration & Production industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 4 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date February 22, 2019, the closing price was SEK 306.70 and its potential was estimated at SEK 322.04.

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...

Lundin Petroleum AB (LUPE) - Oil & Gas - Deals and Alliances Profile

Summary Lundin Petroleum AB (Lundin Petroleum) is an independent oil and gas exploration and production company that acquires, explores, develops and produces oil and gas properties in Norway. The company identifies and matures exploration targets, drill exploration wells, appraise discoveries, and develops and produces petroleum products. Its properties include Courbey, Les Arbousiers, Les Pins, Tamaris, Courdemanges, Est Champagne, Merisier, Follega, Gorredijk, Leeuwarden, Lemsterland, Oosterend, Slootdorp, Zuidwal, Johan Sverdrup, Alvheim, Brynhild, Lagansky Block and Plivot. Lundin Petrol...

Lundin Petroleum AB (LUPE) - Oil & Gas - Deals and Alliances Profile

Summary Lundin Petroleum AB (Lundin Petroleum) is an independent oil and gas exploration and production company that acquires, explores, develops and produces oil and gas properties in Norway. The company identifies and matures exploration targets, drill exploration wells, appraise discoveries, and develops and produces petroleum products. Its properties include Courbey, Les Arbousiers, Les Pins, Tamaris, Courdemanges, Est Champagne, Merisier, Follega, Gorredijk, Leeuwarden, Lemsterland, Oosterend, Slootdorp, Zuidwal, Johan Sverdrup, Alvheim, Brynhild, Lagansky Block and Plivot. Lundin Petrol...

Expert Corporate Governance Service (ECGS)

Lundin Petroleum, March 29, 2019

In general, Lundin Petroleum is in compliance with the Swedish regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEMS 15a-15i, the (re-)election of the board of directors is proposed.In light of insufficient independent representation on the board of directors as well as concerns over aggregate time commitments, ECGS recommends to vote OPPOSE to the (re-)election of: Mr. C. Ashley Heppenstall (ITEM 15b), Mr. Ian H. Lundin (ITEM 15c), Mr. Lukas H. Lundin (ITEM 15d), Mr. Torstein Sanness (ITEM 15f) and Mr. Jakob Thomasen (ITEM 15h). Under ITEM 15j, t...

Lundin Petroleum AB – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

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