Oil and Gas: A plan to have a plan 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. Read more...
BHP Group: Starting to make some moves By Adrian Prendergast 20 August 2020, 8:51 AM Another strong year for BHP, with strong iron ore prices and capital discipline again combining for a healthy result, albeit just short of expectations. Read more...
Woodside Petroleum: Pulls trigger on Sangomar option By Adrian Prendergast 19 August 2020, 10:21 AM Woodside Petroleum (ASX:WPL) has triggered the pre-emptive option on the sale of partner Cairn Energy's stake in its Senegal interests. Read more...
Rio Tinto – Iron ore drives first half 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. Read more...
Rio Tinto - Approaching strategy crossroads 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? Read more...
Rio Tinto - In great shape in uncertain times 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. Read more...
Oil market: Second phase of downcycle starts By Adrian Prendergast 21 April 2020, 1:15 PM We expect the panic selling to continue in oil futures markets and ETF’s and for it to extend into June. We have been waiting for this kind of oil price volatility (waiting for it to hit rock bottom) so we can gain conviction on our buy ideas, and it looks like it is quickly approaching. Read more...
Rio Tinto: Positioned to weather the storm By Adrian Prendergast 20 April 2020, 12:50 PM Concern around short-term metal prices for the sector remains, but we maintain our preference for RIO with an Add rating. Read more...
Podcast - Oil Price & OPEC By Adrian Prendergast 16 April 2020, 12:52 PM I provide an update on the latest developments in the oil market, following the announcement from OPEC+ of record supply cuts. I also detail our top picks across the sector. Read more...
BHP Group: Stays conservative By Adrian Prendergast 19 February 2020, 1:15 PM Despite reporting no direct impact on demand, sales, deliveries or payments stemming from the Coronavirus, BHP decided to remain conservative by not flexing its H1 dividend and keeping gearing at the low end of its target range. Read more...