Genel Energy director buys 0.5m shares
17th Dec 2014 15:52
Chakib Sbiti, independent director at Genel Energy, on Wednesday bought 0.5m shares for 642.9p in the oil explorer and producer. Sbiti, who joined the company in 2012, spent £321,450 in the transaction, and now holds a total of 0.8m shares. The Middle Eastern oil producer, which is headed by former
Read moreGenel Energy starts to receive Kurdistan oil payments
2nd Dec 2014 11:27
Middle Eastern oil & gas producer Genel Energy has started to receive government payments for oil exported from its operations in Kurdistan. Genel, led by former BP boss Tony Hayward, said it had received a $30m gross payment from the Kurdistan Regional Government (KRG) for oil exported through the
Read moreBroker tips: Easyjet, Serco, Oil stocks
21st Nov 2014 12:26
Broker Liberum has lifted its target price for budget airline Easyjet from 1,650p to 1,725p and repeated its 'buy' recommendation, hailing the company's effort to adapt to an "inflationary world". Analyst Gerald Khoo said while non-fuel unit cost inflation is set to rise, Easyjet's so-called 'lean'
Read moreWesthouse highlights attractive oil stocks that can weather crude-price falls
21st Nov 2014 11:06
Westhouse Securities has called for investors in the oil and gas sector to be a "bit more patient" with oil prices currently rumbling along at multi-year lows, as it highlighted buying opportunities in the sector. Brent crude has now fallen over 25% to $79 a barrel since hitting a high of $115 a bar
Read moreMonday broker round-up UPDATE
17th Nov 2014 10:32
African Barrick Gold: Investec reduces target price from 262p to 170p and downgrades to sell. Associated British Foods: Liberum initiates with a target price of 3470p and a buy recommendation. Bodycote: Investec lowers target price from 750p to 745p and maintains its buy recommendation. Centamin:
Read moreSector movers: Oil stocks slide as Brent crude extends four-year lows
13th Nov 2014 15:03
A sharp drop in the price of Brent crude to below $80 a barrel sent oil stocks lower on Thursday, with oil prices now at their lowest levels in over four years. Tullow Oil was among the worst performers as a string of brokerages cut their target prices for the stock. 'Big Oil' group Royal Dutch She
Read moreSan Leon and Genel Energy decline after Sidi Moussa result
13th Nov 2014 11:49
Shares in San Leon and Genel Energy took a hit on Thursday after the groups reported that the M-1 well on the Sidi Moussa permit offshore Morocco was to be plugged and abandoned. The well failed to produce product oil at sustainable rates, which it said was potentially the result of reservoir damage
Read moreBroker tips: Serco, Asos, Genel Energy, Aveva
10th Nov 2014 12:45
Analysts showed their disappointment with a poorly-received statement from Serco on Monday, as the outsourcing company announced a profit warning, £1.5bn of write-downs, and a proposed a rights issue. Oriel Securities analysts said the update "provides some colour on the future shape of the group".
Read moreUBS upgrades Genel Energy on Kurdistan potential
10th Nov 2014 11:01
UBS has upgraded its recommendation for Anglo-Turkish oil explorer Genel Energy from 'neutral' to 'buy', saying that "oil and money [are] both flowing" in the Kurdistan region of Iraq. The bank said that Genel is Kuridistan's leading resource holder with an estimated 1.6bn barrels (bbl) of oil equiv
Read moreThursday broker round-up UPDATE
6th Nov 2014 10:01
Amec: UBS cuts target price from 1185p to 1150p, while its buy recommendation remains unchanged. Afren: Liberum Capital cuts target price from 121p to 95p and stays with its hold recommendation. Antofagasta: Canaccord cuts target price from 790p to 760p and reiterates a hold recommendation. Associ
Read moreThursday broker round-up UPDATE
30th Oct 2014 08:36
Afren: Deutsche Bank cuts target price from 130p to 110p retaining its hold recommendation. Antofagasta: JP Morgan lowers target price from 760p to 755p and reiterates a neutral rating. Investec lowers target price from 717p to 704p and keeps a hold recommendation. Balfour Beatty: Jefferies cuts ta
Read moreGenel, San Leon and Serica Energy strike oil in Morocco
20th Oct 2014 08:03
A well off the coast of Morocco has struck oil, partners Genel Energy, San Leon Energy and Serica Energy said. The SM-1 well in the Sidi Moussa block, which is operated by Genel, has reached a total depth of 2,825 metres and preparations are now underway to begin testing at a cost of $22m. Genel ow
Read moreThursday broker round-up UPDATE
16th Oct 2014 08:57
Afren: Investec cuts target price from 195p to 120p and reiterates its hold recommendation. Amerisur Resources: Investec lowers target price from 75p to 65p and maintains a buy recommendation. Antofagasta: UBS upgrades from sell to neutral with a target price of 710p. ARM Holdings: Credit Suisse r
Read moreSunday share tips: BG Group, Genel Energy, Palace Capital
5th Oct 2014 13:32
Sell shares of BG Group, Danny Fortson advised in the Sunday Times. Credit Suisse analysts have questioned whether the gas producer's big Australian operation will open on time and have said BG's estimates for its Brazilian oil fields are bigger than those of Petrobas, which leads the development. I
Read moreSan Leon expands Moroccan footprint through Petromaroc deal
8th Sep 2014 14:40
AIM-listed oil and gas group San Leon Energy has expanded its asset portfolio in Morocco through the acquisition of two minority stakes. Petromaroc Corporation has transferred its 1.5% net working interest in the offshore Sidi Moussa licence, where drilling of the SM-1 well is currently underway by
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