Gday 1Geo
I think Stokes has everything to do with Beach, but to what degree, who knows.
There are lots of reasons why the Beach share price is down, and lots of reasons why it shouldn't be down.
We have ESG (environmental, social and governance) which is a general term used in capital markets and used by investors to evaluate corporate behavior and to determine the future financial performance of companies. — Financial Times
We still have COVID lockdowns which is limiting oil and gas demand.
We have underperformance at the Western Flank. This has driven Beach to downgrade its 2P reserves for the project by -24.8mmboe. The company also withdrew the 5-year guidance. This uncertainty may make investors jittery about staying invested in Beach.
We have investors fearing a possible price war starting between oil companies. There is market pessimism on oil prices holding current levels.
Stockbroker Ord Minnett 6-7-2021, has a preference for Beach Energy because of its strong balance sheet and leverage to east coast gas prices. The Buy rating and $1.75 target price are unchanged.
Basically, we will have to wait and see what transpires. Beach is still a profitable business.
sights on $100 oil, page-147
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Last
$1.27 |
Change
0.025(2.02%) |
Mkt cap ! $2.885B | |||
| Open | High | Low | Value | Volume |
| $1.25 | $1.27 | $1.24 | $4.431M | 3.535M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 115278 | $1.26 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.27 | 43307 | 4 |
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| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| BPT (ASX) Chart |