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一文了解券商於中海油(00883.HK)公布中期業績後最新目標價及觀點
中國海洋石油(00883.HK)今早股價造好,最新報12.88元升1.3%。摩根士丹利表示,中海油第二季純利略優預期,受惠於產量增長8.9%強勁及成本控制良好,指布蘭特期油於季內跌5%,但中海油次季純利僅按季下滑1%,實現油價每桶73美元(按季僅跌2%),重申「增持」評級及目標價14.4元。 中海油昨晚(17日)公布今年中期業績,實現收入1,920.64億人民幣按年下降5%。錄得純利637.61億人民幣倒退11.3%,每股盈利1.34元人民幣。每股中期息派59港仙。期內,油氣淨產量3.32億桶油當量,增加8.9%;油氣銷售收入1,516.86億元,下降14.1%。實現油價每桶由103.85美元下降至73.57美元;桶油作業費7.16美元,下降8%。 【季績略優預期 受惠於產量增加】 摩根大通發表報告指出,中海油第二季度淨利潤按季增5%至316億元,較預期的300億元為高。每股中期息派0.59港元(相當於0.54元人民幣),相當於派息40%,符合集團派息率不低於40%的股息政策。該行重點關注中期勘探與生產策略,末期股息及潛在股票回購指引。該行維持予其「增持」評級,目標價15港元。 花旗發表,中海油第二季業績優於預期,因產量按年升9.1%強勁及成本控制良好,受益於實現油價高於預期、人民幣匯價貶值,其派發每股中期息0.59港元相當派息比率40%,符合預期。該行估計中海油今年股本回報率20%(對比同業9%至11%),指中海油股息回報達9厘,維持「買入」評及目標價15.8元。 ---------------------------------- 下表列出6間券商對中海油投資評級及目標價: 券商│投資評級│目標價(港元) 花旗│買入│15.8元 瑞信│跑贏大市│15.5元 高盛│買入│15.2元 摩根大通│增持│15元 摩根士丹利│增持│14.4元 瑞銀│買入│14.4元 券商│觀點 花旗│季績優預期,料今年股本回報率可達20% 瑞信│次季業績符預期,油產增加兼成本得以控制 高盛│第二季產量強勁增長和成本控制得宜 摩根大通│次季盈利增長勝預期,派息比率符預期 摩根士丹利│油產增長和成本控制令次季利潤更具彈性 瑞銀│次季業績符預期,油氣產量創同期歷史高
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