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《大行报告》花旗料中海油(00883.HK)营运受美禁令影响少 但美资持股逾6%估短期受压
阿思达克 12-01 11:35
就《路透》近日引述消息人士透露,美国政府拟将中海油(00883.HK)增加至黑名单,禁止美国投资者投资该企,花旗发表报告表示,美国相关部门未有回应上述传闻,中海油旗下中海油田(02883.HK)亦未有清晰指引会否受到上述禁令传闻所影响。

花旗指,虽然美国实际关於中海油的行政命令尚未公布,但可以参考31间在11月中旬被美国列入黑名单的公司,美国政府官方宣布後60天将禁止购买涉及上市公司证券;第二是必须在交易发生之日起一年之内完成所有权转让交易。

据《彭博通讯社》数据显示,美国投资机构持有约有6.6%的中海油股份,基於中海油是不少指数的成份股,估计美国投资者持有中海油6.6%可能被低估,该行认为基於要符合美国规定,料部分投资者将不得不退出中海油,料导致中海油短期内表现受压。

花旗表示,料中海油总体营运受美禁令影响将有限,在最坏的情况下,中海油将不得不处置其在美国Eagle Ford、Rokies的页岩油资产,以及GOM中的Stampede&Appomattox资产,约占其产量和储量的6%。

该行估美禁令对中海油田营运业务上影响非常有限,公司在美国市场上没有任何业务机会,其经抛售後将提供买入机会,但是该行估计美国投资机构持有中海油田股权有较高水平,基於《彭博通讯社》资料,黑石集团,资本集团,摩根大通和惠灵顿共持有中海油服H股约21%的股权和约35%的自由流通量。虽然该行不是确定上述所有这些资产都归美国实体所有,但一旦禁令属实,料部分的股份或必须被处置。

而花旗维持对中海油「买入」评级及目标价10.6元。

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