reports
- Aleksander Erstad
Solstad Offshore - Initiation of coverage - Attractive assets at a dis...
The refinancing completed earlier this year created a more complex holding structure, but we believe the market applies too large a holding discount as the stub is trading at a 2025e EV/EBITDA of 3.4x and Solstad Maritime at 3.7x (below peers’ c4.5x). We calculate NOK9 (23%) upside potential for the stub to trade in line with peers and further upside potential of NOK3–10 (7–26%) if Solstad Maritime is revalued at peer multiples after applying a 20–0% minority discount (a separate listing of Sols...
Solstad Farstad ASA: 1 director
A director at Solstad Farstad ASA sold 2,200,000 shares at 42.000NOK and the significance rating of the trade was 76/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years ...
- Morten Jensen
Oil Services - Discontinuing coverage
We have discontinued coverage of Akastor, Aker, Atwood Oceanics, DOF, Eidesvik Offshore, Farstad Shipping, Kvaerner, Saipem, Sevan Marine, Siem Offshore, Solstad Farstad, and Songa Offshore. Our last published recommendations, target prices and estimates should no longer be relied up.
- Martin Huseby Karlsen
Patience needed
We have been impressed by the operational and technical achievements of Polarcus. However, as consensus is for a 17% YOY sales increase in 2019, we believe that in the coming months revisions will hinder the shares: thus we maintain HOLD, while we have cut our target price to NOK2.2 (2.4) on downward estimate revisions.
1Q6 PROSAFE S.E.
AKAST AKASTOR ASA
PGS PGS ASA
SPM SAIPEM S.P.A.
DOF DOF ASA
SOC SUBSEA 7 S.A.
DDASA DOLPHIN DRILLING ASA
SOFF SOLSTAD OFFSHORE ASA
SDRL SEADRILL LTD
BWO BW OFFSHORE
PLCS POLARCUS LIMITED
SONGA OFFSHORE
OCY OCEAN YIELD ASA
ARCHERO ARCHER
MGN MAGNORA ASA
AKER AKER ASA CLASS A
EIOF EIDESVIK
SIOFF SIEM OFFSHORE INC
TGS TGS-NOPEC GEOPHYSICAL COMPANY ASA
SPU SPECTRUM ASA
E65F VALARIS PLC CLASS A
KVAER KVAERNER ASA
ODL ODFJELL DRILLING
ATW.. ATWOOD OCEANICS INC.
DO DIAMOND OFFSHORE DRILLING INC.
NLC NOBLE CORPORATION PLC
RIGN TRANSOCEAN LTD.
TEC TECHNIPFMC PLC
SHLF SHELF DRILLING
CGG CGG
RDC ROWAN COMPANIES PLC
NODL NORTHERN DRILLING
ORIG OCEAN RIG UDW
BDRILL BORR DRILLING
AWDR AWILCO DRILLING
- Martin Huseby Karlsen
2018 offshore spending still set to fall
Following Q4 reports and multiple capital markets updates, we maintain our forecast that 2018 offshore E&P spending will decline ~5%. At current oil prices, we see meaningful positive cash-flow generation from offshore-focused E&Ps. Yet capital allocation trends towards onshore and strong capital discipline with focus on shareholder returns (including elimination of scrip dividends) remain. Hence, we do not see a near-term significant offshore spending increase and maintain our selective view on...
1Q6 PROSAFE S.E.
AKAST AKASTOR ASA
PGS PGS ASA
SPM SAIPEM S.P.A.
DOF DOF ASA
SOC SUBSEA 7 S.A.
DDASA DOLPHIN DRILLING ASA
SOFF SOLSTAD OFFSHORE ASA
SDRL SEADRILL LTD
BWO BW OFFSHORE
PLCS POLARCUS LIMITED
SONGA OFFSHORE
OCY OCEAN YIELD ASA
ARCHERO ARCHER
MGN MAGNORA ASA
AKER AKER ASA CLASS A
EIOF EIDESVIK
SIOFF SIEM OFFSHORE INC
TGS TGS-NOPEC GEOPHYSICAL COMPANY ASA
SPU SPECTRUM ASA
E65F VALARIS PLC CLASS A
KVAER KVAERNER ASA
ORIG OCEAN RIG UDW INC
ODL ODFJELL DRILLING
ATW.. ATWOOD OCEANICS INC.
DO DIAMOND OFFSHORE DRILLING INC.
NLC NOBLE CORPORATION PLC
RIGN TRANSOCEAN LTD.
TEC TECHNIPFMC PLC
CGG. CGG ADR
SHLF SHELF DRILLING
RDC ROWAN COMPANIES PLC
NODL NORTHERN DRILLING
AWDR AWILCO DRILLING
A2JAU0 BORR DRILLING
Solstad Farstad ASA (SOFF) - Oil & Gas - Deals and Alliances Profile
Summary Solstad Farstad ASA (Solstad), formerly known as Solstad Offshore ASA, is an oil and gas company that offers vessel operation solutions. The company provides carbon footprint, climate neutral network, offshore shipping, green operations, and rainforest protection and documentation programs. It operates through platform supply-vessels (PSV), anchor-handling-vessels (AHTS) and construction service-vessels (CSV). Solstad’s fleets comprise NOR Australis, NOR captain, NOR chef, NOR spring,...
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...
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