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花旗:維持對中海油(00883.HK)買入評級 目標價10.6港元
格隆匯 12-01 12:45

就路透近日引述消息人士透露,美國政府擬將中海油(0883.HK)增加至黑名單,禁止美國投資者投資該企。花旗發表報告表示,美國相關部門未有迴應上述傳聞,中海油旗下中海油田(2883.HK)亦未有清晰指引會否受到上述禁令傳聞所影響。

彭博數據顯示,美國投資機構持有約6.6%的中海油股份,基於中海油是不少指數的成份股,估計美國投資者持有中海油6.6%可能被低估,該行認為基於要符合美國規定,料部分投資者將不得不退出中海油,料導致中海油短期內表現受壓。

花旗表示,料中海油總體營運受美禁令影響將有限,在最壞的情況下,中海油將不得不處置其在美國Eagle Ford、Rokies的頁巖油資產,以及GOM中的Stampede&Appomattox資產,約佔其產量和儲量的6%。

該行估美禁令對中海油田營運業務上影響非常有限,公司在美國市場上沒有任何業務,其經拋售後將提供買入機會,但是該行估計美國投資機構持有中海油田股權有較高水平,基於彭博資料,黑石集團,資本集團,摩根大通和惠靈頓共持有中海油服H股約21%的股權和約35%的自由流通量。雖然該行不是確定上述所有這些資產都歸美國實體所有,但一旦禁令屬實,料部分的股份或必須被處置。

而花旗維持對中海油買入評級及目標價10.6港元。

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