SXY (ASX) Updated Analyst Reports

Originally posted by drg: ↑

Couple of updates after the qrtly...

Credit Suisse rates SXY as Outperform (1) -Senex Energy's second-quarter update was solid, observes Credit Suisse, with 16% quarter on quarter rise in Surat Basin gas production and 26% rise in revenue from gas sales led by higher volumes and better realised prices.All this has culminated into the company's first-half gas production beating Credit Suisse's forecast. The broker notes Senex has a number of catalysts over the next 24 months that could support the share price.Credit Suisse retains its Outperform rating and increases the target to $0.42 from $0.41. Target price is $0.42 Current Price is $0.37 Difference: $0.05

Macquarie rates SXY as Outperform (1) -Senex Energy's CSG production continues to ramp up gradually, the broker notes. Project Atlas is now at design capacity. The Roma North expansion is due to come on line later in 2021 while the Atlas expansion is subject to gas contracting.The broker sees production broadly tripling to FY23 and the company has indicated it remains in the market for new acreages through releases or M&A. Senex boasts strong leverage to thr re-tightening of East Coast gas markets, the broker suggests.Outperform and 45c target retained.

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and here are the rest...

Morgans
Senex Energy reported second quarter production, which was up 21% quarter-on-quarter, and in-line with Morgans estimates. The broker calculates the company is trading at a discount to the sector average across Morgans' coverage of energy stocks.As a result, it's expected the share price will continue to re-rate over the next 12 months as the market gains confidence in the emerging earnings profile and dividend.The Add rating and $0.53 target price are unchanged.

Citi
The recently signed Heads of Agreement (HoA) between the Australian Government and the east coast LNG exporters has a positiveread-through for the Atlas expansion final investment decision, in Citi's view.Separately, quarterly revenue of $27.9m was 16% greater than expected by the broker, on higher gas pricing.The Buy rating is unchanged and the target price is decreased to $0.43 from $0.44, on higher-than-expected capex and higher net debt.

Ords
Senex Energy posted a solid December-quarter production report, observes Ord Minnett, with key metrics in line with the broker's estimates.The broker is positive on Senex and believes it offers good value, strong growth and leverage to east coast gas prices. Senex Energy remains Ord Minnett's key pick among the small-cap exploration and production companies under its coverage.Buy rating with a target of $0.44.