With gearing at 18.5%, the company is restarting its share buy-back programme. While this is in line with its strategy, this came as a surprise, as the company was the only one to maintain the dividend during the crisis. In our view, this is a positive development for the stock, as it will give more upside to the stock with the oil price.
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Q2: buy-back surprise
With gearing at 18.5%, the company is restarting its share buy-back programme. While this is in line with its strategy, this came as a surprise, as the company was the only one to maintain the dividend during the crisis. In our view, this is a positive development for the stock, as it will give more upside to the stock with the oil price.