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- Otto Energy a favourite
Otto Energy has performed extremely well even as the price of oil has halved. Bloomberg
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by Elise Shaw
Hartleys says Otto Energy continues to be one of its favourite oil and gas names.
"The company is in the envious position of having over $136 million (current market cap is $150 million) in cash and what will essentially be a free-carried well to be drilled later this year (Hawkeye-1).
"OEL intend to pay back 6.4¢ps to shareholders in the form of a capital return (5.64¢ps) and a special dividend (0.76¢ps). After the capital return OEL will have circa $56 million in cash or 4.8¢ps.
"We maintain our "speculative buy" recommendation on the stock with a target price of 15.2¢ps.
"Relative to the rest of the sector, OEL has performed extremely well even as the price of oil has halved."
Press / Valuation
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Last
1.3¢ |
Change
0.001(4.17%) |
Mkt cap ! $62.33M | |||
| Open | High | Low | Value | Volume |
| 1.3¢ | 1.3¢ | 1.2¢ | $11.11K | 875.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 7533795 | 1.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.3¢ | 11016129 | 18 |
View Market Depth
| Last trade - 14.10pm 03/07/2024 (20 minute delay) ? |
| OEL (ASX) Chart |