Repsol : Q3 results in line. Higher dividends and reassuring outlook – TP lifted from € 17.5 to € 18.5
>Q3 results in line - Q3 adjusted net attributable profit came to € 1,477m (-30% qoq, +137% yoy) 1.6% below estimates (ODDO BHF estimate: € 1,505m, consensus: €1,501m) on the back of lower oil prices and refining margins.E&P: earnings down, production to recover at year-end - Upstream’s adjusted net profit came to € 753m, i.e. 10% below our estimate and 7% below consensus (ODDO BHF estimate: € 837m, consensus: € 810m) due to higher exploration and p...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.
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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