January 12th, 2022 | 13:17 CET
Energy stocks after oil price rise: BP, Saturn Oil + Gas, Shell
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"[...] Internally we expect the resource to significantly grow the deeper we mine. [...]" Dennis Karp, Executive Chairman, Manuka Resources
Born and raised in Hannover, Lower Saxony follows social and economic developments around the globe. As a passionate entrepreneur and columnist he explains and compares the most diverse business models as well as markets for interested stock traders.
Omicron displaces worries
BP's stock is trading briskly on Tradegate today, gaining 1.70% to EUR 4.52, moving well away from the December 2021 low of below EUR 3.80. The European competitor Shell can record a price increase of 1.43% to EUR 21.56 and is also traded briskly. Within one month, the value of the share has risen by over EUR 3.00. The Corona pandemic seems to have lost its fright with the Omicron variant.
Experts recommend share as a buy
The share of the Canadian producer Saturn Oil & Gas was able to record a phased price increase of over 30% in the past four weeks. The share increased from a low of EUR 1.99 to a peak of EUR 2.70. Currently, the company's share price is unchanged from the previous day at EUR 2.50. Saturn was able to generate EBITDA of CAD 17.2 million in Q3 2021 with revenues of CAD 48.5 million. The company's market capitalization is around CAD 88 million at the current price of CAD 3.49. The analysts at GBC Research recently gave a price target of CAD 12.17 and the experts at Beacon Securities see the value at CAD 10.15 - both agree on the rating: BUY.
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