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JPMorgan Cazenove reiterated its BUY rating on Whitbread on Friday as it said it continues to be one of its key convictions, and sees the recent pullback - the shares are down 20% year-to-date - as "an opportunity to revisit the story".

" we see the recent derating(drop in share price) as excessive in the context of Whitbread's new plan (AGP: Accelerated Growth Plan) suggesting double digit percentage pre-tax profit upgrades from FY 27e onwards - our estimates and analysis suggest there is upside, which is not currently accounted for in consensus estimates," it said.

Have a read of the below thread on twitter/x Mangocrane, it's a decent guide to whats upcoming

Set to triple net profit the coming two years (without share dilution); all while trading at single digit earnings and double digit dividend yield:

https://x.com/alexeliasson/status/1796182995616854224

Agreement signed - deal will quadruple the #SEPL output to more than 130,000 barrels a day...

https://x.com/surprised_trade/status/1796158673590325733

Shell plots job cuts in offshore wind division .The oil giant is continuing to shift from green energy

Shell is preparing to axe staff in its offshore wind business, as chief executive Wael Sawan pursues a move away from renewables. Cost increases have affected the entire offshore wind industry.

Shell are expected to begin cuts “within months” and will affect staff in Europe, according to Bloomberg.

Last summer, the chief executive set out plans to slash “structural costs” by as much as $3bn by the end of 2025 - partly by reducing exposure to renewables projects

https://www.telegraph.co.uk/business/2024/05/28/shell-plots-job-cuts-in-offshore-wind-division/

New broker note out - Berenberg sets Whitbread price target to 4000 pence (4,200) pence - 'BUY'

Investors Chronicle 24.04.24 - Management confirmed that Serica enjoys institutional support for its expansion plans, we keep our buy call. Buy.

Investors should take note of this mid-cap's profitable growth strategy

Of the UK-listed mid-cap energy companies, Serica Energy (SQZ) is an inexpensive option. The North Sea-focused group sits on a forward enterprise value/Ebitda ratio of less than one times. Serica's metrics look so attractive because its share price has fallen by 60 per cent from an August 2022 high of 450p. Even a cash-and-shares deal that doubled production has not been enough to bring shareholders back. The group could be due a rebound, however.

Serica’s relatively low enterprise value (EV)/Ebitda ratio is driven by its high cash profits and small pile of debt. Ebitdax (‘x’ being exploration costs) for 2023 is forecast at £401mn. This is a sizeable drop from 2022 due to lower oil and gas prices, but still represents a cash profit margin of 63 per cent. Broker Stifel thinks this margin will climb to 70 per cent in the current year, implying Ebitdax of £612mn

Much of the appeal of Serica lies in its low operating costs, although these have climbed a third from $16 (£12.70) per boe in 2022 to around $20 per boe now, according to Peel Hunt forecasts. They are expected to stay around that level in the medium term, however, and margins are already ahead of peers'.

Chris Wheaton, an analyst at Stifel, sees net cash rising from £81.4mn at the end of 2023 to £449mn two years later. This is more of a rebound than a turnaround, given the use of £58.7mn in the Tailwind buyout and a cash outflow in the second half of last year (as per Wheaton’s forecast). But it does leave management with some firepower its short- and medium-term prospects are good, and at this yield and valuation we would buy.

https://www.investorschronicle.co.uk/ideas/2024/02/22/this-north-sea-energy-company-is-making-waves/

Crude 80.442

Brent 84.851

TTF Gas 33.93

UK Gas 81.7147

Well we know it's not the fundamentals in WTB it is simply 'trading' activity, could be shorts algo's just rolling trades taking it dowd for a short while, it spooks a few to sell, finds a few stops etc and we have a short term dip, no worry for investors who look longer term than this weeks/today's price as fundamentals are key.

As an aside and how irrational markets can be PETS results out today, profit down, a few issues with distribution and sp up 4 percent.....WTB excellent figures and outlook hit a 52 week low this morning !.....I'll keep my WTB shares based on great fundamentals, great figures, great balance sheet and outlook for further growth with a busy summer season ahead .

A 52 week low based on record profits, sound balance sheet, increased divi and a positive outlook for growth, market are irrational at times, yet that is when they provide opportunity for those who can.

New broker note out with 30p target

We initiate with a Buy rating and a 12M TP of 30p/share (C$0.51/sh) We initiate coverage on i3 Energy as a Buy given the considerable discount on EV/flowing barrel, PDP value and 2P reserves metrics that the Company trades at compared to its peers. We set a 30p/sh 12-month target price that is based solely on the value of the Core NAV assets, in expectation that delivery of the 2H24 capex programme will offset natural declines and rerate the Company’s shares more in line with its growth-orientated peers.

https://x.com/surprised_trade/status/1795724790789284315

The market provides opportunity occasionally and WTB's tumble from 3700p on the back of record profits, cash flow and increased divi is at odds with a sound balance sheet & future outlook...brokers target 3900p+

https://x.com/surprised_trade/status/1795506954946679259

Yup, find the right project in Norway as they are encouraging growth and start to move operations over there whilst using tax losses in UK parts of the business to avoid Labours 'business friendly taxes' before a full transition away from the UK.

Labour have less understanding of business or how government can encourage growth than the Cons and that is saying something !

SQZ ?

Oil & gas companies operating on the Norwegian shelf will spend $24 billion this year, reflecting growth in investments for exploration and on existing fields

https://www.bloomberg.com/news/articles/2024-05-28/norway-s-oil-companies-expect-to-spend-24-billion-in-2024

Indeed, the key words in the rns are --'' IN ORDER TO PRESERVE the Transaction pending the resolution of certain legal proceedings and receipt of applicable regulatory approvals. .....There has been NO MATERIAL CHANGE in terms ....''

It appears a few folk have misunderstood the rns today , provides an opportunity for those who can...

Seplat Energy announces that it has extended with Mobil Development Nigeria Inc. and Mobil Exploration Nigeria Inc. ("ExxonMobil") the Share Sale and Purchase Agreement ("SSPA") for the acquisition of ExxonMobil's share capital of Mobil Producing Nigeria Unlimited ("MPNU") (the "Transaction"), IN ORDER TO PRESERVE the Transaction pending the resolution of certain legal proceedings and receipt of applicable regulatory approvals.

There has been NO MATERIAL CHANGE in terms of the announcements dated 25 February 2022 and 24 May 2023. The headline consideration, effective date and the contingent payment structure remain unchanged.

Seplat Energy continues to engage key stakeholders and remains committed to completing the Transaction as soon as possible.

Ex divi day provides opportunity for those who can and with all brokers forecasting 3900p to 4200p on the back of very decent results recently opportunity knocks ......

Finally the CMA announce what we already expected/knew.....I'll have a look at their 'findings' in about 18months/2 years from now (no doubt there will be delays and any recommendations etc will also take time to implement, if at all) so a very lengthy wait for a report that will likely have little material impact on business overall imo.....in the meantime CVS have a couple of years to focus on running the business which they have done pretty well to date.

The strength of the business shone through in terms of its balance sheet, cash flow, operating costs and reserves replacement. Given the drop in gas prices, last year's acquisition of oil producer Tailwind looks very clever with its associated tax losses.

The new executive chairman and chief finance officer sounded like they meant business. If it has not done another corporate deal this year, I will be amazed.

Given current prohibitive tax rates, any deal will most likely be outside the UK North Sea. In the meantime, it has maintained its final dividend of 14p, which, with the interim of 9.0p, gives a yield of 12.7 per cent. In addition, it has initiated a share buyback of £15m.

It's the stock market, prices go up and down, often for 'no reason' other than people moving money in and out for a zillion reasons. Every rise does not always have a catalyst and the same with pull backs...............traders try to judge/guess,hope and investors let it play out :-)

The analyst consensus target price for shares in Whitbread is 3937.50p. (Stockopedia)