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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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.
Read MoreAmpol 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.
Read MoreALD – 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.
Read MoreOdds 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.
Read MoreEnthusiasm 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
Read MoreAmpol 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.
Read MoreRefinery Losses Blow Out At Ampol
Weak margins from its under review Lytton refinery in Brisbane saw Ampol’s third-quarter earnings slide by around 75%. The weak result from Lytton more than offset an improvement in returns from convenience retailing chain.
Read MoreAmpol Mulls Shutting Down Brisbane Refinery
Ampol has put its only oil refinery under review and will consider options including its closure, even after the Morrison government last month unveiled a $2.5 billion rescue package intended to keep refineries open.
Read MoreALD – 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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