SBM Offshore : SBM Offshore or Simply the Best Model in Offshore
>Achat OC 22 € : un business model séduisant - Les résultats 2019 étaient au-dessus des attentes (cf Flash du 13/02/2019) et le dividende a été doublé. SBM Offshore est le groupe de notre échantillon de sociétés de services pétroliers qui affiche le TSR (buybacks 165 M$ + Dividendes 150 M$ soit 9% de la capitalisation boursière) le plus élevé. Nous maintenons notre opinion Achat avec un objectif de cours de 22 € compte tenu 1/ de la visibilité sur les cash-flows futu...SBM Offshore is a holding company. Co. provides floating production solutions to the offshore energy industry, over the full product life-cycle. Co.'s main activities are the design, supply, installation, operation and life extension of floating production, storage and offloading (FPSO) vessels. Other products include semi-submersibles, tension-leg platforms, floating production storage and offloading liquefied natural gas, turret mooring systems, brownfield and offshore (off) loading terminals. As of Dec 31 2015, Co.'s fleet consisted of 10 FPSOs, two floating storage and offloadings, one mobile offshore production unit, one semisubmersible in operation worldwide.
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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