Saipem is a global contractor with local presence in Africa, Central Asia, America, the Middle East and South East Asia. Co. provides engineering, procurement, construction and installation services; and engineering, procurement and construction services to the oil and gas industry, both onshore and offshore, with a focus on projects, including activities in remote areas, in deep waters and on projects that involve difficult gas or crude supplies.
  • TickerSPM
  • ISINIT0005252140
  • SectorOil Equipment, Services & Distribution
  • CountryItaly

Analysts

Saipem SPA

Saipem SPA

Francesco Sala

SAIPEM - Good results expected in Q2

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...

Francesco Sala

SAIPEM - Good results expected in Q2

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...

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 | Adjusting Saipem and Subsea 7 FVEs on Revised View on Offshore E&C Market Positioning. See Updated Analyst Note from 16 May 2019

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...

1 director bought

A director at Saipem bought 5,000 shares at 3.704EUR and the significance rating of the trade was 52/100. 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 members...

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

...

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 - 01/03/2019

...

Ahmed Ben Salem ...
  • Baptiste Lebacq
  • Bruno Cavalier
  • Christophe Chaput
  • Emmanuel Matot
  • Jerôme Bodin
  • Laurence Hofmann
  • Martial Descoutures
  • Pierre Corby

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/26/2018

...

Ahmed Ben Salem ...
  • Baptiste Lebacq
  • Bruno Cavalier
  • Christophe Chaput
  • Emmanuel Matot
  • Jerôme Bodin
  • Laurence Hofmann
  • Martial Descoutures
  • Pierre Corby

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 26/11/2018

Neoen est en passe de devenir un des grands groupes de référence des énergies renouvelables. Centré sur deux technologies à parité réseau et sur des zones géographiques de l’OCDE, Neoen affiche d’ores et déjà une croissance historique remarquable et de solides perspectives à l’horizon 2021e (TMVA 17/21e RNpg +57%). Notre objectif de cours fondé sur la moyenne entre le DCF, la SOP et la valorisation parc/parc ressort à 19,7 €. Au regard de la performance du titre (+17,9% en absolue dep...

Baptiste Lebacq ...
  • Benoit Valleaux
  • Bruno Cavalier
  • Emira Sagaama
  • Fatma Agnès Hamdani
  • Jean Sassus
  • Louis Boujard
  • Matthias Desmarais
  • Olivier Lebrun
  • Philippe Ourpatian
  • Samantha Jeary
  • Steven Gould
  • Sven Edelfelt
  • Sylvain Goyon
  • Thomas Zlowodzki
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/07/2018

Italy’s economy had slowed down in the first half of the year. It stagnated in Q3. In October, some indicators raise fears of a slide back into recession. Over the past six months, the situation has deteriorated both politically (Rome-Brussels relations) and financially (increase in the risk premium). Rising financing costs may crowd out private demand. Fiscal stimulus is therefore aggravating problems rather than resolving them. To dispel the “wait-and-see” sentiment, it is urgent t...

Saipem SPA

Saipem SPA

Saipem SPA

Saipem SPA

Increased risk weighs on SAIPEM, penalising its rating down to Slightly Negative

The independent financial analyst theScreener just lowered the general evaluation of SAIPEM (IT), active in the Oil Equipment & Services industry. As regards its fundamental valuation, the title still shows 1 out of 4 possible stars. Its market behaviour, however, has slightly deteriorated and will be qualified as risky moving forward. theScreener considers that these new qualifications justify an overall rating downgrade to Slightly Negative. As of the analysis date December 28, 2018, the closing price was EUR 3.27 and its target price was estimated at EUR 3.10.

MarketLine Department

Nabors Industries Ltd. - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Nabors Industries Ltd. 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 Nabors Industries Ltd. 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 advan...

MarketLine Department

Saipem SpA - Strategy, SWOT and Corporate Finance Report

Synopsis Saipem SpA - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Summary - Detailed information on Saipem SpA required for business and competitor intelligence needs - A study of the major internal and external factors affecting Saipem SpA in the form of a SWOT analysis - An in-depth view of the business model of Saipem SpA including a breakdown and examination of key busin...

Matthieu DRIOL

Short term view - SAIPEM : The trend is bullish.

The trend is bullish. The current fall looks like a consolidation. The support at €4.378 could cause a bullish reaction towards €4.928. The break of €4.186 would endanger the trend.

Matthieu DRIOL

Analyse court terme - SAIPEM : La tendance est haussière.

La tendance est haussière. La baisse en cours s'apparente à une consolidation. Le support à 4,378 € pourrait relancer le mouvement haussier vers 4,928 €. La rupture de 4,186 € mettrait la tendance en danger.

Matthieu DRIOL

Short term view - SAIPEM : The trend is bullish.

The trend is bullish. The current fall looks like a consolidation. The support at €4.378 could cause a bullish reaction towards €4.928. The break of €4.186 would endanger the trend.

Matthieu DRIOL

Analyse court terme - SAIPEM : La tendance est haussière.

La tendance est haussière. La baisse en cours s'apparente à une consolidation. Le support à 4,378 € pourrait relancer le mouvement haussier vers 4,928 €. La rupture de 4,186 € mettrait la tendance en danger.

Matthieu DRIOL

Medium term view - SAIPEM : The trend is uncertain.

The trend is uncertain. Prices have recovered and they are starting to display convincing strength. A new bullish trend is attempting to emerge.

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