Maurel et Prom : Adjustments announced across the board
>Neutral rating - We maintain our Neutral rating on the stock. M&P has announced, largely as expected, that it will not pay a dividend for 2020 (to recap, in June 2019 it had paid its first dividend since 2012 for € 0.04 per share, i.e. a cash-out of $ 9bn all told). A raft of adjustments have been announced to adapt to the new oil environment. We will be adjusting our estimates following the conference call at 9.30am today.2019 results contract by over ...Etablissements Maurel et Prom is engaged in the oil and gas industry. Co. is engaged in mainly two activities: exploration and production of oil and gas; and oil drilling. The goal of the exploration business is to discover exploitable accumulations of hydrocarbons. It includes geological and geophysical studies, acquisition and seismic processing as well as exploratory drilling. Co. operates in 12 countries and 4 continents, including Colombia, Peru, France, Italy, Congo, Tanzania, Gabon, Namibia, and Mozambique. Co. is also engaged in a project of gold exploration in Mali. As of Dec. 31 2013 Co. had close to 100,000 sq. km of exploration areas in 12 countries on 4 continents.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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