I agree. So cheap now.. 11x P/E for an oil company. The company, according to CommSec is trading on a price-to-book ratio of 0.54.
That's a massive discount considering zero debt.
What I find interesting is that traders were happy to drive the price up to $1.04 in early January when crude oil jumped to around US$85.
Crude is only at US$78 and the Beach's price has tumbled.
I think its a buying opportunity. In the short-term it may fall a bit more. But the firm has no debt, strong reserves, and I bet you that the share price will be driven up hard when it reports next, as traders start pricing in its profits when Shadwan starts producing in September quarter and as crude oil is likely to climb higher.
4.2% yield for a mid-cap oil company is unheard of as well!
Cheers,
I agree. So cheap now.. 11x P/E for an oil company. The company,...
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Last
$1.23 |
Change
-0.050(3.92%) |
Mkt cap ! $2.794B | |||
| Open | High | Low | Value | Volume |
| $1.25 | $1.25 | $1.21 | $9.773M | 7.958M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1901 | $1.23 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.23 | 144156 | 6 |
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| Last trade - 16.10pm 29/08/2024 (20 minute delay) ? |
| BPT (ASX) Chart |