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

Martin Huseby Karlsen

EP cash flow its worst since 2016

With three more oil majors having reported Q4 results last week, our conclusion remains – Q4 cash flow was very weak, with a combined overspend of 29% despite the oil price averaging USD63/bbl (versus USD54/bbl currently). For 2019 the majors total overspending was 8% at an average oil price of USD64/bbl. For oil services we believe this hurt both investor sentiment and fundamentals, supporting our more muted view on E&P spending than consensus. 2019 marked a return to overspending for oil majors after generating positive cash flow in 2017–2018, which is a key focus point for investors. Also, ...

Martin Huseby Karlsen

Weak cash flow from oil majors

So far the majors have reported weak Q4 cash flow, with aggregated overspend of 33% from Shell, Exxon, Chevron, and BP (at an average oil price of USD63/bbl). For 2019, they overspent cash flow by 12%, after generating positive cash flow in 2017–2018. We still believe a sustained higher oil price (mid-USD60s/bbl+) is needed to support higher E&P spending. Hence, the recent oil price sell-off to the low USD50/bbl is not helpful and we expect to hear muted spending comments ahead. Also, we consider oil majors’ weak Q4 cash flow on the downside for the offshore oil services sector.

Moody's announces completion of a periodic review of ratings of PGS ASA

Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of PGS ASA. Global Credit Research- 28 Jan 2020. London, 28 January 2020-- Moody's Investors Service has completed a periodic review of the ratings of PGS ASA and other ratings that are associated with the same analytical unit.

PGS ASA: Update following rating upgrade

A detailed rationale for PGS’s rating upgrade reflecting the recent improvement in operating performance and reduction in debt leverage post debt refinancing.

Moody's upgrades PGS's ratings to B2; outlook stable

Rating Action: Moody's upgrades PGS's ratings to B2; outlook stable. Global Credit Research- 24 Jan 2020. London, 24 January 2020-- Moody's Investors Service today upgraded the corporate family rating of PGS ASA to B2 from B3 and its probability of default rating to B2-PD from B3-PD.

PGS ASA: Key Facts and Statistics - LTM September 2019

A summary company profile, detailing PGS ASA’s business operations and financial highlights.

PGS ASA: Update following placement of ratings on review for downgrade

A detailed rationale for PGS’s review for downgrade, highlighting near-term refinancing risk facing the group despite recent improvement in operating performance and reducing debt leverage.

Martin Huseby Karlsen

EP cash flow its worst since 2016

With three more oil majors having reported Q4 results last week, our conclusion remains – Q4 cash flow was very weak, with a combined overspend of 29% despite the oil price averaging USD63/bbl (versus USD54/bbl currently). For 2019 the majors total overspending was 8% at an average oil price of USD64/bbl. For oil services we believe this hurt both investor sentiment and fundamentals, supporting our more muted view on E&P spending than consensus. 2019 marked a return to overspending for oil majors after generating positive cash flow in 2017–2018, which is a key focus point for investors. Also, ...

Martin Huseby Karlsen

Weak cash flow from oil majors

So far the majors have reported weak Q4 cash flow, with aggregated overspend of 33% from Shell, Exxon, Chevron, and BP (at an average oil price of USD63/bbl). For 2019, they overspent cash flow by 12%, after generating positive cash flow in 2017–2018. We still believe a sustained higher oil price (mid-USD60s/bbl+) is needed to support higher E&P spending. Hence, the recent oil price sell-off to the low USD50/bbl is not helpful and we expect to hear muted spending comments ahead. Also, we consider oil majors’ weak Q4 cash flow on the downside for the offshore oil services sector.

Jon Masdal

PGS (Sell, TP: NOK14.00) - Another year of value destruction

With cost guidance above consensus, higher interest costs after the refinancing, and increasing capex, we believe that compared to consensus of more than USD200m in underlying debt reduction, 2020’s figure will fall well short

Anders Idborg ...
  • Casper Blom
  • Fredrik Ivarsson
  • Jan Erik Gjerland
  • John Olaisen
  • Karl Bokvist
  • Laurits Kjærgaard
  • Mads Thinggaard
  • Martin Melbye
  • Olof Cederholm
  • Petter Nystrøm
  • Simon Granath
  • Tobias Kaj
  • Victor Forssell

Talking Points - Orsted (Sell): Too far, too fast

SpareBank 1 SMN (Hold) Preview of results: Dividend yield of 6.5% for 2019e But we lack valuation support Downgrade to SELL, TP DKK 655 (DKK 590)

Haakon Amundsen ...
  • John Olaisen

PGS - Strong FCF to drive share in 2020

We are confident about rising contract rates Strong FCF (~NOK5/share) in 2020 BUY rating and TP of NOK 23 reiterated

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 ...

Christer Magnergård ...
  • Christoffer Wang Bjørnsen
  • Jimi Lehtonen
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Martin Huseby Karlsen
  • Nicolay Dyvik
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Rune Majlund Dahl
  • Simen Mortensen
  • Tomi Railo

Northern Lights

Aurelien Sivignon ...
  • Baptiste Lebacq
  • Charles Lepetitpas
  • Geoffroy Michalet
  • Hela Zarrouk
  • Jean-François Granjon
  • Jeremy Garnier
  • Johanna Jourdain
  • Nicolas David

ODDO BHF Small & MIDCAP MORNING NEWS - 01/30/2020

...

Aurelien Sivignon ...
  • Baptiste Lebacq
  • Charles Lepetitpas
  • Geoffroy Michalet
  • Hela Zarrouk
  • Jean-François Granjon
  • Jeremy Garnier
  • Johanna Jourdain
  • Nicolas David

ODDO BHF Small & MIDCAP MORNING NEWS - 30/01/2020

...

Baptiste Lebacq ...
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Hela Zarrouk
  • Johanna Jourdain
  • Matthias Desmarais

ODDO BHF Small & MIDCAP MORNING NEWS - 01/22/2020

...

Baptiste Lebacq ...
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Hela Zarrouk
  • Johanna Jourdain
  • Matthias Desmarais

ODDO BHF Small & MIDCAP MORNING NEWS - 22/01/2020

...

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 December 6, 2019, the closing price was NOK 14.63 and its target price was estimated at NOK 9.85.

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...

MarketLine Department

Halliburton Company - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Halliburton Company 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 Halliburton Company 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 advantage. ...

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