By Adrian Prendergast
10 December 2020, 3:00 PM
We have added Santos (ASX:STO) to Morgans Best Ideas for December 2020. Morgans Senior Analyst Adrian Prendergast explains more.
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By Adrian Prendergast
28 October 2020, 12:00 AM
BHP is acquiring an increased stake in Shenzi in Gulf of Mexico for US$505m.
Adds 52mmboe of reserve (2P+2C) and ~11kboepd to production.
Hess needed to divest the stake to fund development elsewhere, with earnings
depressed.
BHP is taking advantage of the cycle with an opportunistic value accretive bolt-on
acquisition, taking its interest in Shenzi to 72%.
We maintain our Hold rating with a revised target price (login to view target price).
Opp...
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By Adrian Prendergast
22 September 2020, 9:25 AM
We see the oil & gas sector as a Covid-exit trade that has so far been overlooked. Given market jitters around energy, we expect a broad sector re-rating to trail some other key Covid trades. This has left us favouring those oil & gas players with defendable (low risk) earnings platforms and healthy balance sheets.
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By Max Vickerson
21 September 2020, 8:50 AM
The government is looking to extend the heads of agreement with LNG producers designed to increase gas supply to the domestic market.
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By Adrian Prendergast
30 July 2020, 9:00 AM
1H20 result was ahead of consensus estimates, with ongoing iron ore strength helping Rio Tinto (ASX:RIO) to plug a gap left by lower aluminium and copper prices. We downgrade to a Hold rating on recent share price strength, while still considering RIO a core holding for a wide group of investor types.
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By Adrian Prendergast
21 July 2020, 10:38 AM
A good first half from Rio Tinto (ASX:RIO) overall, with solid volumes vs soft metal prices. Iron ore makes up 80% of EBITDA, but won't always be this strong. Does RIO use the opportunity to change its business?
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By Adrian Prendergast
14 July 2020, 2:40 PM
In this blog, I review my position ahead of the up coming June quarter result and half year earnings result. We maintain our ADD position, with a revised price target.
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By Max Vickerson
16 March 2020, 12:30 PM
AGL has fallen 19% from its post reporting season high in the midst of the broader market selloff on concerns over the corona virus. Following the sharp falls in AGL’s share price we see the stock trading below fair value.
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By Adrian Prendergast
15 October 2019, 3:13 PM
Santos (ASX:STO) has announced it is acquiring ConocoPhillip's northern Australian business. We do not view the acquisition as significantly impacting STO's corporate appeal and we maintain our Add rating, with an increased price target.
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By Adrian Prendergast
19 June 2019, 12:08 PM
The A$50m sale should remove any remaining funding concerns in the market
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