一文了解券商於中海油(00883.HK)公布業績後最新評級、目標價及觀點
中海油(00883.HK)今早股價造好，摩根士丹利指公司去年純利輕微高該行原預期1.2%，受惠銷量較高及成本較低，抵銷了實現油價較預期為低的影響。該公司昨收市後公布去年業績，營業額1,553.72億元人民幣按年跌33.4%。純利249.56億人民幣按年跌59.1%，略高於市場預期中位數；每股盈利0.56元人民幣。派每股末期息25港仙，上年同期派45港仙。
中海油去年實現淨產量5.28億桶油當量，按年增長約4.3%，超過調整後的全年油氣生產目標。油氣銷售收入為1,396.01億人民幣，按年下跌約29.2%。去年公司匯兌收益淨額為4.45億元人民幣，2019年的匯兌損失為2.13億元人民幣。公司指今年公司資本開支預算900億至1,000億元人民幣，已於實現上考慮到油價的變化。
【業績符預期 基本面鞏固】
瑞信指，中海油去年純利錄250億人民幣(按年跌59%)符合預期，去年派息比率達70%(對比2019年為51%)，股息回報率達6厘，決定上調對中海油目標價由13元升至13.2元，此按現金流折現率作估值，指其低成本結構令甚基本面鞏固，該行上調對中海油今明兩年每股盈利預測各4.3%及1.5%。
里昂發表報告表示，中海油去年經營業績表現強勁，但不確定因素依然存在。儘管面臨前所未有的挑戰，但中海油報去年業績不俗，產量和儲量均創歷史新高。隨著全球原油市場的重新平衡，穩定的產量增長和嚴格的成本控制是中海油未來幾年連續盈利增長的基礎。然而，不確定的中美關係有可能危及中海油的中長期增長。該行維持予中海油「跑贏大市」投資評級及目標價9.5元。
--------------------------------------
本網最新綜合7間券商對其投資評級及目標價：
券商│投資評級│目標價((港元)
瑞信│跑贏大市│13->13.2元
摩根士丹利││12.22元
瑞銀│買入│12.1元
摩根大通│增持│11元
花旗│買入│9.7->11元
大和│跑贏大市│10.8元
里昂│跑贏大市│9.5元
券商│觀點
瑞信│去年業績符預期，低成本結構令其基本面鞏固
摩根士丹利│銷量增加和成本降低，去年收益勝預期
瑞銀│料投資者對業績反應正面，因儲備率強勁
摩根大通│重申至2025年油氣產量複合年增長率為7%
花旗│憧憬油價上升將其21年及22年收益分別提高51%及9%
大和│去年淨利潤按年下降59％略勝預期
里昂│經營業績強勁，但不確定因素依然存在
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app！
Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.
