TGS-NOPEC Geophysical Co. ASA,

TGS Nopec Geophysical provides geoscience data to oil and gas exploration and production companies worldwide. In addition to global geophysical and geological data libraries that include seismic data, magnetic and gravity data, digital well logs, production data and directional surveys, Co. also provides advanced processing and imaging services, interpretation products, permanent reservoir monitoring and data integration solutions.
  • TickerTGS
  • ISINNO0003078800
  • ExchangeOslo Bors
  • SectorOil Equipment, Services & Distribution
  • CountryNorway
Alexander Aukner ...
  • Christer Magnergård
  • Christoffer Wang Bjørnsen
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Martin Arnell
  • Martin Huseby Karlsen
  • Niklas Wetterling
  • Ole-Andreas Krohn
  • Rune Majlund Dahl
  • Tomi Railo

Northern Lights

Jon Masdal

TGS Nopec (Hold, TP: NOK150.00) - No drama in Q2 update

TGS reported preliminary Q2 sales of USD96m, versus our USD101m estimate and consensus in the low-90s, hence we consider it a slight relief. Late sales were better than expected, while the pre-funding ratio was weaker, partly offset by higher investments (thus a bit weaker cash flow). We expect only minor estimate revisions in the underlying results, but impairments to likely move book value multiples slightly higher.

Haakon Amundsen ...
  • John Olaisen

TGS Nopec - Q2 reveneus in line, some light in the tunnel

Q2 rev of USD 96m is 3% > FactSet Some one-off costs in Q2,but also some light in the tunnel Continue to BUY TGS (TP NOK190)

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

EM Breakout -- Add Exposure The laundry list of market characteristics consistent with historical bull markets continues to grow, helping support our ongoing belief that global equities are in the early stages of a broad-based advance. • US Dollar; EM Equities. The US dollar (DXY) exhibits signs of rolling over, something we outlined as increasingly likely in our 12/10/19 Int'l Macro Vision strategy. This is bullish for global equities -- especially EM -- and has paved the way for the MSCI EM index to break above key resistance. Add exposure... see chart below and page 2. • Europe and Japan...

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 in...

Jon Masdal

TGS Nopec (Hold, TP: NOK150.00) - No drama in Q2 update

TGS reported preliminary Q2 sales of USD96m, versus our USD101m estimate and consensus in the low-90s, hence we consider it a slight relief. Late sales were better than expected, while the pre-funding ratio was weaker, partly offset by higher investments (thus a bit weaker cash flow). We expect only minor estimate revisions in the underlying results, but impairments to likely move book value multiples slightly higher.

Haakon Amundsen ...
  • John Olaisen

TGS Nopec - Q2 reveneus in line, some light in the tunnel

Q2 rev of USD 96m is 3% > FactSet Some one-off costs in Q2,but also some light in the tunnel Continue to BUY TGS (TP NOK190)

John Olaisen

Powerpoint Sector Report - Seismic market update and Q2 previews

We see the seismic market as weak in Q2 and Q3, but Q4 could see improvements. TGS (BUY) will pre-announce Q2 on Wednesday, 8 July: expectations are low (we see late-sales -68% y-o-y). PGS (HOLD) will pre-announce Q2 on Thursday, 9 July: likely negative FCF and balance sheet focus.

Jon Masdal

TGS Nopec (Hold, TP: NOK150.00) - No sign of fundamentals improving

TGS is set to pre-announce its Q2 sales before the market opens on 8 July. Our USD101m forecast is broadly in line with consensus. With E&Ps’ focus on cost control and low appetite for exploration, we retain our muted view on seismic spending and reiterate our HOLD and NOK150 target price.

Haakon Amundsen ...
  • John Olaisen

TGS Nopec - Generates FCF in historically weak markets

We make only minor EBITDA and FCF changes TGS can generate FCF in tough years too We stick to BUY and TP of NOK 190

Alexander Aukner ...
  • Christer Magnergård
  • Christoffer Wang Bjørnsen
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Martin Arnell
  • Martin Huseby Karlsen
  • Niklas Wetterling
  • Ole-Andreas Krohn
  • Rune Majlund Dahl
  • Tomi Railo

Northern Lights

David Martinsson ...
  • Frank Maaø
  • Jon Masdal
  • Martin Hoang Nguyen
  • Martin Huseby Karlsen
  • Mattias Holmberg
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Viktor Trollsten

Northern Lights

Alexander Aukner ...
  • Håkon Astrup
  • Helene Kvilhaug Brøndbo
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Martin Huseby Karlsen
  • Nicolai Farstad Olsen
  • Nicolay Dyvik
  • Ole Martin Westgaard
  • Ole-Andreas Krohn

Northern Lights

Alexander Aukner ...
  • Eivind Sars Veddeng
  • Håkon Astrup
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Martin Hoang Nguyen
  • Martin Huseby Karlsen
  • Nicolay Dyvik
  • Niklas Wetterling
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Simen Mortensen
  • Viktor Trollsten

Northern Lights

Jon Masdal ...
  • Marius Knudssøn
  • Martin Hoang Nguyen
  • Martin Huseby Karlsen
  • Mattias Holmberg
  • Nicolay Dyvik
  • Ole-Andreas Krohn
  • Patrik Ling

Northern Lights

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...

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