Nice to see that the world Head Office of UBS, one of the largest brokers, has just released a short report on "Global Picks for Oil Fundamentals."
Only five O&G companies were recommended as buys:
ENI, Chevron, Devon, Petrobas and.....
KAROON!!
KAR was picked because it "has the highest exposure to drilliing activity among Australian E&P's over the next 12-18 months."
UBS' selection of KAR as only one of five 'buys' is a huge endorsement for the company, considering that UBS analyses perhaps over a hundred companies in the oil and gas business worldwide.
About 45% of KAR's share register is held by overseas institutions, with maybe another 10-20% held by overseas retail investors. We don't really appreciate that KAR is a global stock. A message to global investors is likely to be more important than to us locals.... so UBS' vote of confidence to its large global client base will give good support.
Andreas 21 - just hang in there for a few weeks. I don't think the price will fall much more - we now may be in one of those frequent dips that are soon overcome by much larger rises, and now may be a good time to buy in.
Wait for Browse, reserves update, Brazil farmout, Peru farmout, Brazil drilling, Peru drilling. But if you are looking for a two week bet, don't bother.
now in top pick of world o&g stocks
Add KAR (ASX) to my watchlist
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Last
$1.87 |
Change
-0.005(0.27%) |
Mkt cap ! $1.498B | |||
| Open | High | Low | Value | Volume |
| $1.88 | $1.88 | $1.86 | $5.061M | 2.710M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 25493 | $1.87 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.87 | 54387 | 4 |
View Market Depth
| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
| KAR (ASX) Chart |