Bouygues Shares Drop; Analysts Not Concerned

Wednesday, September 13, 2000
Shares in Bouygues Offshore fell more than three percent in early Wednesday trade after the French oil services firm posted a 42 percent fall in first half net profit to 18.6 million euros from 32.3 million. But analysts, not concerned by the slump in profits that was in line or better than expectations, said they remained positive on the stock amid signs that BOS' orders were picking up. They attributed the share price slide to a knee-jerk reaction from the market at seeing profits slump but said it was not serious given the stock had risen 91 percent since a year low of 35.10 euros hit on January 5. "The figures are not catastrophic," said analyst Joergen Lunshof at Credit Lyonnais Securities Europe (CLSE), pointing out BOS's first-half results reflected the dearth of investments by oil companies during the low crude prices of 1998-1999. Lunshof, who has a "buy" recommendation on BOS and a 75 euros price target, predicted the firm's profits would improve in the second half and return to 1999 levels in 2001 as oil investments picked up again.
Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Hercules Offshore Shares Fall 33%

Drilling contractor Hercules Offshore Inc's shares fell as much as 33 percent to a record low on Friday, a day after Deutsche Bank cut its price target on the company's stock to $0.

Brightoil Reports Steady Growth in Interim Results

Brightoil Petroleum (Holdings) Limited announced its interim results for the six months ended December 31, 2014, reporting steady growth over the period.   During the period,

Mexico Approves 5 Shallow Water Areas in Round One Oil Tender

Mexico has approved the terms for five shallow water areas containing around 355 million barrels of oil equivalent as part of its Round One tender to open up the country's oil fields,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation Pipelines Port Authority Ship Electronics Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1327 sec (8 req/sec)