Total: Oddo welcomes Q4 results
(CercleFinance.com) - Total has reported Q4 2017 adjusted net income that is up 19% at 2.
9 billion dollars, meaning EPS of 1.10 dollar per share. Oddo believes that upstream results are reflected in the sound Q4 publication. The broker has hence confirmed its buy rating on the stock, with a target price of 56 euros.
Performance at the Refining and Chemicals division is better than expected. Its result has mainly been driven by strong growth at the exploration-production (+79%) and gas, renewables & power (+76%) divisions.
Oddo underlines that the group has increased its dividends by 10% over 3 years and has announced a share buyback program of 5 billion euros over 2018-20.
The group has indeed announced that it has offered a dividend of 2.48 euros per share for the year 2017, followed by a 10% increase in the dividend between 2018 and 2020.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
9 billion dollars, meaning EPS of 1.10 dollar per share. Oddo believes that upstream results are reflected in the sound Q4 publication. The broker has hence confirmed its buy rating on the stock, with a target price of 56 euros.
Performance at the Refining and Chemicals division is better than expected. Its result has mainly been driven by strong growth at the exploration-production (+79%) and gas, renewables & power (+76%) divisions.
Oddo underlines that the group has increased its dividends by 10% over 3 years and has announced a share buyback program of 5 billion euros over 2018-20.
The group has indeed announced that it has offered a dividend of 2.48 euros per share for the year 2017, followed by a 10% increase in the dividend between 2018 and 2020.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.