Business
Brokers weigh in on the Beach Energy (ASX:BPT) share price plunge
Beach Energy Ltd (ASX: BPT) shares fell off a cliff on Friday after the company announced poor production figures and a downgrade in oil reserves in its third-quarter results. Its shares are down almost 24% since Thursday to $1.285 and are not far off their March 2020 lows of $1.150.
With oil prices remaining relatively steady at US$63 per barrel and a rebound in the global economy as vaccination programs are underway, could there be value in the heavily discounted Beach Energy share price?
Brokers weigh in on the Beach Energy share price
Citi: slight upside but nothing exciting
Beach Energy’s underperformance was led by its West Flank operations says Citi. This resulted in a downgrade to its 2P reserves for the project…
-
Business22 hours agoThis artificial intelligence (AI) and “Magnificent Seven” stock will be the next company to surpass a $3 trillion market cap by the end of 2025
-
Noosa News22 hours agoYIMBYs vs NIMBYs as the battle for affordable housing moves into your backyard
-
Business18 hours agoThe ultimate Australian stocks to buy and hold for 10+ years
-
General24 hours agoFootballers and movie stars: PM’s Shanghai tourism push