Petroleum Geo-Services is engaged in providing geophysical services and oil and gas production services. As of Dec. 31, 2001, Co. operated six Ramform design vessels in its marine seismic data acquisition operations.
  • TickerPGS
  • ISINNO0010199151
  • ExchangeOslo Bors
  • SectorOil Equipment, Services & Distribution
  • CountryNorway

Analysts

PGS ASA sees a downgrade to Negative on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of PGS ASA (NO), active in the Oil Equipment & Services 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 Negative. As of the analysis date August 23, 2019, the closing price was NOK 11.01 and its target price was estimated at NOK 8.51.

Martin Huseby Karlsen

No, not this year either

While we have trimmed our target price to NOK689 (713) to reflect the recent share price declines, we continue to find the value proposition in Aker attractive and maintain our BUY. Our base-case NAV is currently at NOK640/share, implying a 34% discount. Only including the value of its listed industrial holdings, the current share price currently implies a ~15% discount to these assets, which we find attractive.

Jon Masdal

Softer than expected US GoM round

The August US GoM licensing round pre-sale statistics were just released and showed a 4% decline in the number of bids from last year, and 35% from the March round. The number of companies was unchanged, but due to fewer bids, competition was low. We believe expectations for this round were higher and consider this another reminder that the seismic market remains volatile with continued earnings risk.

Jon Masdal

A major 4D opportunity favours shift to OBN

News sources suggest that Petrobras has proposed a series of Ocean Bottom Node surveys over 10 fields between 2020 and 2023. We believe that these will serve as base-line 4D surveys representing future demand, with the first monitor surveys in 2023−2025. We have long argued that the 4D market will favour OBN on new programmes due to the superior data quality, which potentially represents a major shift in the 4D market. With Petrobras coming to the market we believe that this further strengthens our case. As backlog in the OBN industry is a growing concern for 2020, we believe that this tender ...

PGS ASA: Update following refinancing withdrawal

Our credit view of PGS reflecting the recent upturn in operating results and declining leverage amid some lingering uncertainty over the ongoing recovery in seismic market conditions.

PGS ASA: Refinancing withdrawal is credit negative

Transaction withdrawal amid adverse capital market conditions thwarts PGS's efforts to refinance Q4 2020 - Q1 2021 debt maturities early and clouds liquidity profile

PGS ASA: Update following outlook change to positive

Our credit view of PGS reflecting the recent upturn in operating results and declining leverage amid some lingering uncertainty over the ongoing recovery in seismic market conditions.

Petroleum Geo-Services ASA: Update to credit analysis

Our credit view of PGS, reflecting the recent upturn in operating results and declining leverage amid the uncertain recovery in seismic market conditions.

Petroleum Geo-Services ASA: PGS’s B3 stable rating unaffected by Q1 2019 profit warning

PGS's profit warning underlines quarter-on-quarter volatility of MultiClient business and lingering uncertainty over seismic market recovery

Martin Huseby Karlsen

No, not this year either

While we have trimmed our target price to NOK689 (713) to reflect the recent share price declines, we continue to find the value proposition in Aker attractive and maintain our BUY. Our base-case NAV is currently at NOK640/share, implying a 34% discount. Only including the value of its listed industrial holdings, the current share price currently implies a ~15% discount to these assets, which we find attractive.

Jon Masdal

Softer than expected US GoM round

The August US GoM licensing round pre-sale statistics were just released and showed a 4% decline in the number of bids from last year, and 35% from the March round. The number of companies was unchanged, but due to fewer bids, competition was low. We believe expectations for this round were higher and consider this another reminder that the seismic market remains volatile with continued earnings risk.

Jon Masdal

A major 4D opportunity favours shift to OBN

News sources suggest that Petrobras has proposed a series of Ocean Bottom Node surveys over 10 fields between 2020 and 2023. We believe that these will serve as base-line 4D surveys representing future demand, with the first monitor surveys in 2023−2025. We have long argued that the 4D market will favour OBN on new programmes due to the superior data quality, which potentially represents a major shift in the 4D market. With Petrobras coming to the market we believe that this further strengthens our case. As backlog in the OBN industry is a growing concern for 2020, we believe that this tender ...

Alain William ...
  • Antoine Boivin-Champeaux
  • Aurelien Sivignon
  • Baptiste Lebacq
  • Benoit Valleaux
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Fatma Ayachi
  • Fatma Agnès Hamdani
  • Fehmi Ben Naamane
  • Jeremy Garnier
  • Johanna Jourdain
  • Michael Foundoukidis
  • Nicolas David
  • Nicolas Thorez
  • Olivier Lebrun
  • Roland Pfaender
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 19/07/2019

La nouvelle stratégie, dont Ben Smith consolide actuellement méthodiquement les fondations, pourrait apporter un supplément net de 200 pb de marge EBIT (vs 4.6% en 2019) grâce à l’activation de leviers à la main du management à horizon 3 ans. Une adhésion des pilotes rendrait possible une évolution en profondeur et une appréciation des multiples avec un best case ajoutant 20 € à notre OC. Achat réitéré. Le titre fait partie de notre liste de Convictions large caps. - ...

Alain William ...
  • Antoine Boivin-Champeaux
  • Aurelien Sivignon
  • Baptiste Lebacq
  • Benoit Valleaux
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Fatma Ayachi
  • Fatma Agnès Hamdani
  • Fehmi Ben Naamane
  • Jeremy Garnier
  • Johanna Jourdain
  • Michael Foundoukidis
  • Nicolas David
  • Nicolas Thorez
  • Olivier Lebrun
  • Roland Pfaender
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 07/19/2019

The new strategy, the foundations of which Ben Smith is methodically consolidating, could add an extra 200bp of EBIT margin (vs. 4.6% in 2019) thanks to the activation of the levers in management’s hands over the next three years. Support from the pilots would facilitate a radical change and a re-rating with a best case adding € 20 to our target price. Buy recommendation reiterated. The stock is part of our Large Cap Convictions List. - - ...

5 directors bought/maiden bought

Five Directors at Petroleum Geo-Services Asa bought/maiden bought 123,000 shares at between 12.600NOK and 13.100NOK. The significance rating of the trade was 64/100. 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 ...

Christoffer Wang Bjørnsen ...
  • Jesper Ingildsen
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Martin Huseby Karlsen
  • Mattias Holmberg
  • Ole-Andreas Krohn

Northern Lights

Alain William ...
  • Aurelien Sivignon
  • Baptiste Lebacq
  • Charles Lepetitpas
  • Christophe Chaput
  • Emmanuel Matot
  • Hana Maalej
  • Jean-François Granjon
  • Jeremy Garnier
  • Jerôme Bodin
  • Laurence Hofmann
  • Nicolas David
  • Nicolas Thorez
  • Oussema Denguir
  • Pierre Corby

ODDO BHF Small & MIDCAP MORNING NEWS - 04/26/2019

...

Alain William ...
  • Aurelien Sivignon
  • Baptiste Lebacq
  • Charles Lepetitpas
  • Christophe Chaput
  • Emmanuel Matot
  • Hana Maalej
  • Jean-François Granjon
  • Jeremy Garnier
  • Jerôme Bodin
  • Laurence Hofmann
  • Nicolas David
  • Nicolas Thorez
  • Oussema Denguir
  • Pierre Corby

ODDO BHF Small & MIDCAP MORNING NEWS - 26/04/2019

...

Christoffer Wang Bjørnsen ...
  • Frank Maaø
  • Håkon Astrup
  • Joachim Gunell
  • Jon Masdal
  • Martin Hoang Nguyen
  • Martin Huseby Karlsen
  • Nicolay Dyvik
  • Ole-Andreas Krohn
  • Stefan Gauffin

Northern Lights

Jon Masdal ...
  • Karl-Johan Bonnevier
  • Martin Arnell
  • Martin Hoang Nguyen
  • Martin Huseby Karlsen
  • Mattias Holmberg
  • Ole-Andreas Krohn
  • Paul Harper

Northern Lights

PGS ASA sees a downgrade to Negative on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of PGS ASA (NO), active in the Oil Equipment & Services 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 Negative. As of the analysis date August 23, 2019, the closing price was NOK 11.01 and its target price was estimated at NOK 8.51.

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