(CercleFinance.com) – Oddo BHF underlines that the results for the 4th quarter of 2023 are below expectations by 1.4%.
Following this publication, the analyst confirms his advice to Outperform with a price target of 72 E.
‘Adjusted net profit, group share, amounts to $5,226 million, or 1.4% below consensus and 1.6% below our estimates (Oddo BHF: $5,309 million, consensus: $5,300 million $). Production stood at 2,462 kboe/d, down 0.6% quarter-on-quarter and down 10% year-on-year, Oddo BHF said.
‘Gearing decreased from 12.3% to 5% below expectations. Return on capital employed remains strong at 19% (compared to 20.1% in the 3rd quarter), the best in its category and the group increases its quarterly dividend by 6.8% from E0.74 to E0.79 per quarter. adds the analysis office.
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