This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Trade Parameters
Observations – For
Observations – Against
Attractive technical set-up with strong bullish reversal thanks to Oil prices holding their rebound on an OPEC/NOPEC-production cut extension agreement and the company recently raising guidance. Big 6% dividend yield makes the shares attractive to income investors. More share buybacks are also supportive for the shares.
Consensus is 82% bullish on the shares, with the same percentage of analysts suggesting upside potential for the shares from current levels. The consensus target of 2658p is well above our short-term trade objective of 2513p Nov highs. Note the average of December broker updates suggesting even more upside (2723p).
Next Event: Weekly US Oil Inventories (every Weds); Q4 results, 1 Feb;
Latest Broker 12-Month Consensus: 59% Buy, 23% Hold, 18% Sell (full breakdown on request)
Source: DowJones Newswires, Reuters News, Bloomberg or Company Press releases
| Share | 1wk | 1m | 3m | 6m | 1yr | 2yr | 3yr | 4yr | 5yr |
| Perf % | 0.3 | -3.5 | 10.1 | 13.8 | 9.4 | 57.4 | 10.6 | 11.3 | 11.0 |
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