Repsol is an oil and gas company. Co. is engaged in all the activities relating to the oil and gas industry, including exploration, development and production of crude oil and natural gas, transportation of oil products, liquefied petroleum gas (LPG) and natural gas, refining, the production of a wide range of oil products and the retailing of oil products, oil derivatives, petrochemicals, LPG and natural gas, as well as the generation, transportation, distribution and supply of electricity. Co. operates in more than 40 countries. Co.'s operations are divided into four segments: Upstream, Downstream, LNG and Gas Natural Fenosa.
  • TickerREP
  • ISINES0173516115
  • ExchangeMadrid Stock Exchange
  • SectorOil & Gas Producers
  • CountrySpain
Research Department

IBERIAN DAILY 17 SEPTEMBER (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: ACERINOX, BANKIA, FERROVIAL, NATURGY, REPSOL, TALGO. MARKETS YESTERDAY AND TODAY The IBEX continues its good performance before the Fed’s meeting, which brought losses in the US The IBEX was the only European index that ended in positive territory before the Fed’s meeting, whereas US indices ended up falling after Powell’s appearance, with little news, but suggesting that zero interest rates will be maintained until 2023. Within the Euro STOXX, Basic Resources and Retail led gains, with Financial Services and Insurance being the worst relative performers. On the macro side, in ...

Research Department

IBERIAN DAILY 08 SEPTEMBER (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: ALMIRALL, DIA, FCC, GRIFOLS, IAG, MEDIASET, REPSOL, TELEFÓNICA. MARKETS YESTERDAY AND TODAY Europe in positive territory with the US closed European markets rose around +2% despite the poor opening in the US. In the Euro STOXX, all the sectors closed with gains except for Travel & Leisure, with Autos and Utilities leading the way. On the macro side, in the euro zone September’s Sentix index improved more than expected, although it remains far from the pre-Covid-19 level. Separately, today the United Kingdom will warn the EU that the Brexit agreement must be rewritten as no-d...

Research Department

INFORME DIARIO 08 SEPTIEMBRE (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME. ESPAÑA: ALMIRALL, DIA, FCC, GRIFOLS, IAG, MEDIASET, REPSOL, TELEFÓNICA. EUROPA: AB INBEV, MUNICH RE, VIVENDI. Europa en positivo con EE.UU cerrado Jornada positiva en Europa con subidas en torno al 2%. Así en el Euro STOXX todos los sectores cerraron en positivo menos Viajes&Ocio, con Autos y Utilities liderando las ganancias. Por el lado macro, en la Eurozona el índice Sentix de septiembre mejoró más de lo esperado aunque continúa lejos del nivel pre Covid-19. Por otro lado, R. Unido advertirá hoy a la UE que el acuerdo de Brexit debe ser ree...

Research Department

INFORME DIARIO 04 SEPTIEMBRE (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME. ESPAÑA: BANKIA, CAIXABANK, CAMBIOS IBEX 35, MEDIASET ESPAÑA, REPSOL, SECTOR TURISMO, TELEFÓNICA. EUROPA: VIVENDI. Las tecnológicas lastran a EE.UU. y arrastran a Europa Fuerte recogida de beneficios en las bolsas estadounidenses centrado sobre todo en tecnológicas y el growth en general que provocaron un giro a la baja en las principales bolsas europeas despidiendo la sesión con caídas. Así, en el Euro STOXX prácticamente todos los sectores presentaron caídas con Alimentación y Autos liderando los avances y Tecnología y Servicios Financiero...

Repsol S.A. - March 2020 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Research Department

BANCO SABADELL RECOMMENDED PORTFOLIO WEEK 23 TO 30 OCTOBER 2019 (ANÁLISIS BANCO SABADELL)

European Portfolio We lower Volkswagen’s weight and raise that of Airbus. European High Yield Portfolio Air Liquide, Allianz, Daimler, SAP & Vivendi No changes this week. Spanish Recommended Portfolio No changes this week. 5-Stock Recommended Portfolio ACS, Caixabank, Cellnex, Ferrovial & Telefónica No changes this week. 5 High-Yield Stock Portfolio Iberdrola, Merlin, Repsol, Santander & Telefónica No changes this week. Mid&Small Recommended Portfolio Applus, CAF, Dominion, Enagás, Ence, Indra, Logista, Másmóvil, Sacyr & Unicaja No changes this week.

Research Department

BANCO SABADELL RECOMMENDED PORTFOLIO WEEK 06 TO 13 MARCH 2019 (ANÁLISIS BANCO SABADELL)

BANCO SABADELL RECOMMENDED PORTFOLIO WEEK 06 TO 13 MARCH 2019 (ANÁLISIS BANCO SABADELL)

Research Department

CAMBIO DE CARTERAS BANCO SABADELL SEMANA 06 A 13 MARZO 2019 (ANÁLISIS BANCO SABADELL)

CAMBIO DE CARTERAS BANCO SABADELL SEMANA 06 A 13 MARZO 2019 (ANÁLISIS BANCO SABADELL)

Research Department

BANCO SABADELL RECOMMENDED PORTFOLIO WEEK 27 FEBRUARY TO 06 MARCH 2019 (ANÁLISIS BANCO SABADELL)

BANCO SABADELL RECOMMENDED PORTFOLIO WEEK 27 FEBRUARY TO 06 MARCH 2019 (ANÁLISIS BANCO SABADELL)

Research Department

CAMBIO DE CARTERAS BANCO SABADELL SEMANA 27 FEBRERO A 06 MARZO 2019 (ANÁLISIS BANCO SABADELL)

CAMBIO DE CARTERAS BANCO SABADELL SEMANA 27 FEBRERO A 06 MARZO 2019 (ANÁLISIS BANCO SABADELL)

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

The Pause that Refreshes? We continue to believe the weight of the evidence points to a new leg higher for global equities, a viewpoint that is supported by the several international markets that are breaking out to new highs or making bullish inflections since our previous Int'l Compass (10/31/19). While developments continue to lean bullish, global equities have rallied substantially since the start of October, making it perfectly reasonable to expect some consolidation of recent gains which would allow for a more meaningful move higher. • New Highs or Bullish Inflections. The number of ...

Matthieu DRIOL

Analyse court terme - REPSOL SA : Les prix baissent.

La tendance est baissière. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 14,779 €. La tendance baissière serait remise en cause au-dessus de 17,510 €.

Matthieu DRIOL

Short term view - REPSOL SA : Falling prices.

The trend is bearish. Prices are falling again, but the movement has become hesitant. The next support is at €14.779. The bearish trend would be challenged above €17.510.

Matthieu DRIOL

Analyse court terme - REPSOL SA : La tendance est baissière.

La tendance est baissière. Le mouvement se poursuit. Le prochain objectif est à 14,779 €, puis 13,705 €. Le franchissement de 17,510 € remettrait en cause la suite de la baisse.

Matthieu DRIOL

Short term view - REPSOL SA : The trend is bearish.

The trend is bearish. The movement goes on. The next target is at €14.779, then €13.705. Passing €17.510 would question the continuation of the fall.

Research Department

IBERIAN DAILY 17 SEPTEMBER (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: ACERINOX, BANKIA, FERROVIAL, NATURGY, REPSOL, TALGO. MARKETS YESTERDAY AND TODAY The IBEX continues its good performance before the Fed’s meeting, which brought losses in the US The IBEX was the only European index that ended in positive territory before the Fed’s meeting, whereas US indices ended up falling after Powell’s appearance, with little news, but suggesting that zero interest rates will be maintained until 2023. Within the Euro STOXX, Basic Resources and Retail led gains, with Financial Services and Insurance being the worst relative performers. On the macro side, in ...

Research Department

IBERIAN DAILY 08 SEPTEMBER (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: ALMIRALL, DIA, FCC, GRIFOLS, IAG, MEDIASET, REPSOL, TELEFÓNICA. MARKETS YESTERDAY AND TODAY Europe in positive territory with the US closed European markets rose around +2% despite the poor opening in the US. In the Euro STOXX, all the sectors closed with gains except for Travel & Leisure, with Autos and Utilities leading the way. On the macro side, in the euro zone September’s Sentix index improved more than expected, although it remains far from the pre-Covid-19 level. Separately, today the United Kingdom will warn the EU that the Brexit agreement must be rewritten as no-d...

Research Department

INFORME DIARIO 08 SEPTIEMBRE (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME. ESPAÑA: ALMIRALL, DIA, FCC, GRIFOLS, IAG, MEDIASET, REPSOL, TELEFÓNICA. EUROPA: AB INBEV, MUNICH RE, VIVENDI. Europa en positivo con EE.UU cerrado Jornada positiva en Europa con subidas en torno al 2%. Así en el Euro STOXX todos los sectores cerraron en positivo menos Viajes&Ocio, con Autos y Utilities liderando las ganancias. Por el lado macro, en la Eurozona el índice Sentix de septiembre mejoró más de lo esperado aunque continúa lejos del nivel pre Covid-19. Por otro lado, R. Unido advertirá hoy a la UE que el acuerdo de Brexit debe ser ree...

Research Department

INFORME DIARIO 04 SEPTIEMBRE (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME. ESPAÑA: BANKIA, CAIXABANK, CAMBIOS IBEX 35, MEDIASET ESPAÑA, REPSOL, SECTOR TURISMO, TELEFÓNICA. EUROPA: VIVENDI. Las tecnológicas lastran a EE.UU. y arrastran a Europa Fuerte recogida de beneficios en las bolsas estadounidenses centrado sobre todo en tecnológicas y el growth en general que provocaron un giro a la baja en las principales bolsas europeas despidiendo la sesión con caídas. Así, en el Euro STOXX prácticamente todos los sectores presentaron caídas con Alimentación y Autos liderando los avances y Tecnología y Servicios Financiero...

Ahmed Ben Salem

Repsol : Q2 results in the red, dividend maintained pending the strategy presentation in November

>Q2 2020 adjusted net result 7.5% higher than the consensus - The attributable net result was a loss of -€ 258m, 14% higher than our forecast and 7.5% higher than the consensus (ODDO BHF: -€ 310m; consensus: -€ 279m).Upstream: a fall in production and prices but a nice surprise on costs - The adjusted net result in the upstream segment was a loss of -€ 141m (vs a profit of € 90m in Q1 2020) affected by the fall in oil prices and decrease in productio...

Repsol S.A. - March 2020 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

ING
Nadège Tillier

Repsol/1H20 results put credit ratios under pressure

Significantly under pressure due to the Covid-19 pandemic and its negative impacts on global economies and the transport sector, the European oil & gas sector starts its 1H20 results with Repsol. As expected, the Spanish energy utility posted weak 2Q20 and 1H20 results with a cash flow generation significantly reduced compared to a year ago. Our calculations point to LTM 1H20 credit metrics meaningfully impacted by lower cash flows while the company has been able to control indebtedness. Repsol's € senior curve now trades the widest among IG European oil & gas majors, which we consider fair ...

Giuseppe Fresta ...
  • Ravikanth Rai

DBRS Morningstar Confirms Issuer Rating of Repsol S.A. at BBB and Assigns a Negative Trend; Removes Under Review with Negative Implications Status

Please refer to PDF document for more detail about our research: DBRS Morningstar Confirms Issuer Rating of Repsol S.A. at BBB and Assigns a Negative Trend; Removes Under Review with Negative Implications Status

Repsol S.A.: The issuance of hybrids strengthens Repsol's liquidity

The issuance of hybrids strengthen the liquidity but also ratios on net debt basis, because we consider the 50% to be equity-like

Repsol S.A. - December 2019 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Antoine Boivin-Champeaux ...
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/24/2020

The shock caused by the COVID-19 pandemic is much bigger than the previous impacts seen since the Bureau Veritas IPO (October 2007), whether from the financial crisis (2008-2009), the sudden drop in oil prices (2014-2015) or the trade war (2019). Q2 2020 results will show historically large organic declines (double digits in some cases) even though sector groups theoretically have resilient and diversified profiles. Eurofins and Bureau Veritas are our Top Picks. We downgrade Applus to...

Antoine Boivin-Champeaux ...
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 24/07/2020

Le choc du COVID-19 dépasse largement les précédents impacts négatifs rencontrés depuis l’introduction en Bourse de Bureau Veritas (octobre 2007), que ce soit la crise financière (2008-2009), la chute brutale du cours du pétrole (2014-2015) ou la guerre commerciale (2019). Ces T2 2020 auront un caractère historique par l’ampleur de leur régression organique (à deux chiffres parfois) malgré des profils théoriquement résilients et diversifiés. Eurofins et Bureau Veritas sont nos valeurs...

Louis Boujard, CFA ...
  • Philippe Ourpatian

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/23/2020

...

Louis Boujard, CFA ...
  • Philippe Ourpatian

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 23/07/2020

...

Ahmed Ben Salem

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/17/2020

We are forecasting an historically low H1 2020, penalised by the lockdown effects. On the basis of our H1 estimates and the full-year consensus, several stocks are likely to disappoint (Imerys and Vicat). Conversely, the full-year consensus seems to incorporate a margin for error and, possibly, potential for upward revision for LafargeHolcim, Getlink and Eiffage. Saint-Gobain and Eiffage remain our favourite stocks, particularly as the market and investors are already looking to 2021....

Increased risk weighs on REPSOL YPF SA, penalising its rating down to Slightly Negative

The independent financial analyst theScreener just lowered the general evaluation of REPSOL YPF SA (ES), active in the Integrated Oil & Gas industry. As regards its fundamental valuation, the title still shows 2 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 July 10, 2020, the closing price was EUR 7.62 and its target price was estimated at EUR 6.24.

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 we...

Expert Corporate Governance Service (ECGS)

Repsol – AGM 7 May 2020

In item 10, the Board of Directors proposes to approve a long-term incentive plan for the 2020-2025 period (three cycles of a 3-year vesting period each): 50% of the CEO's incentive shall be paid in cash and 50% in shares (30% in shares for other beneficiaries). The CEO's 2020-2023 incentive is capped at 144% of the base salary and will depend on reduction of energy intensity (40%), relative TSR (30%) and financial and operational indicators in line with the new Strategic Plan, to be approved in the coming months (30%). The Board will have the power to increase or decrease the final incentive ...

Expert Corporate Governance Service (ECGS)

Repsol - AGM 30 May 2019

The Annual General Meeting will be held foreseeable on the second call on May 31st, 2019, at 12 p.m.  The re-election of the Chairman is proposed in item 10.  Mr. Antonio Brufau Niub has served on the Board since 1996 and has been Chairman for fifteen years. Prior to serving as Chairman, he served as CEO of the Company and Executive Chairman. There are concerns that his fixed fees of EUR 2.5 million per year imply that he continues to perform some executive functions.  Furthermore, ECGS guidelines do not support the appointment of a former CEO as Chairman.  This can undermine the Boardns supe...

Repsol – 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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