Oils Ain’t Oils at Ampol
Ampol has lopped its dividend after revealing a sharp fall in earnings and margins as oil prices and demand for products like petrol and jet fuel were hammered by the pandemic.
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Ampol Limited
Ampol Limited (ASX:ALD) is an independent Australian company and the nation’s leader in transport fuels.
Ampol manages the country’s largest petrol and convenience network as well as refining, importing and marketing fuels and lubricants. We are backed by experience with a history spanning over 120 years, having grown to become the largest transport fuels company listed on the Australian Securities Exchange.
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News
Ampol Deal Looking Less Likely as Canadians Weigh Options
Despite the failed attempt to cuddle up to Europe’s biggest supermarket chain, Carrefour, there’s no sign that Canadian convenience store operator Alimentation Couche-Tard (ACT) plans to revive its bid for Ampol.
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Odds Lengthening of Canadians Renewing Their Interest in Ampol
The chances have lessened that Alimentation Couche-Tard will renew its interest in Ampol and its fleet of convenience stores with news that the Canadian group is sniffing around French retailer, Carrefour SA.
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Enthusiasm Wanes After Ampol Rally
Enthusiasm for Ampol has softened despite a positive update, as the market awaits a decision on the Lytton refinery amid a cloudy outlook for fuel margins
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Ampol Flags Buyback After Completing Convenience Store Exit
Ampol shares jumped to an eight-month high yesterday after the oil group announced a $300 million off-market buyback on the completion of its retail convenience property sale.
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Analyst Views
ALD – Credit Suisse rates the stock as Neutral
Credit Suisse retains a Neutral rating and raises the target to $27.54 from $27.50.
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ALD – Macquarie rates the stock as Outperform
Backed by lower crude premiums, Ampol's Lytton refinery saw its December quarter operating loss go down to -$4m, a far cry from the -$82m loss seen in the third quarter. Outperform retained with a target price of $34.65.
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ALD – Morgan Stanley rates the stock as Overweight
Chevron has commenced legal proceedings in respect of signage at 177 retail sites across Australia. Ampol's licence agreement with Chevron was terminated at the end of 2019 with the work-out period up to 2022 and Ampol has started removing the Caltex brand.
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