27/07/2023 09:31

Beach Energy Ltd (BPT) $1.63

BPT rallied +6.9% yesterday making it the best-performing stock on the main board as it played catch up to the recently strong Energy Sector.

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11/07/2023 09:16

Beach Energy Ltd (BPT) $1.385

Beach Energy (BPT) has struggled both in 2023 and over recent years due to reserve and production issues, the markets sentiment towards BPT wasn’t helped last month by some weak well-testing results at their first test in the Perth Basin although the stock has bounced following the news, the shares are now trading on an Est. 8.45x earnings for FY23.

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08/06/2023 09:19

Beach Energy Ltd (BPT) $1.305

Beach Energy (BPT) has been a sector underperformer over recent years due to reserve and production issues and MM has seen no reason to look for performance reversion from the stock. Yesterday we saw BPT fall over -8% following some weak well testing results at their first test in the Perth Basin. There now seems to be insufficient resources to flow gas with Trigg 1 to be abandoned, the stock closed near fresh multi-month lows in the process and further downside rerating now seems likely especially when combined with the disappointment in when April Beach Energy (BPT) reported MQ23 sales revenue ~10% below consensus due to an 8% miss to production estimates. • We have no interest in BPT until further notice.

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08/12/2022 09:24

Beach Energy Ltd (BPT) $1.64

BPT tumbled -9.9% yesterday making it the worst performer on the ASX200, the blame is being put at the door of Clough who went into administration this week, the builder was contracted for both engineering and construction work at BPT’s Waitsia Stage 2 project hence major delays are now feared. Also, Gina Rinehart’s added to the company’s tough start to December by announcing a competing offer for Warrego Energy Ltd on Monday.

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21/10/2022 09:17

Beach Petroleum Ltd (BPT) $1.55

BPT has been the sector underperformer through 2021/2 due to reserve and production issues hence in line with earlier comments about stocks generally struggling to recover this year we see no reason to look for performance reversion from BPT.

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15/08/2022 17:33

Beach Energy (BPT) $1.645

BPT -11.08%: Fell hard today after reporting an underlying profit for the full year of $504.3mn, up ~40% for the year but well below consensus of $573mn. Expenses and other costs well above where we thought while FY23 guidance also underwhelmed due to a slightly lower production target and higher field operating costs. They now see FY23 production of 20 to 22.5 mmboe, capital expenditure $800 million to A$1.00 billion and unit operating cost per boe A$12 to A$1.

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28/09/2021 17:27

Beach Energy (BPT) $1.365

BPT +10.53%: the standout in a weak day today, Beach was helped by surging energy prices as well as a strong showing at their investor day. Beach talking to FY24 production of 28mboe, up from Fy21 25.6mboe. Importantly this target is fully funded and comes from current assets, excluding a number of projects in the pipeline. Gearing is set...

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17/08/2021 09:27

Beach Energy (BPT) $1.09

The other stock to fall almost 10% yesterday was BPT, which coincidentally also tumbled -9.9% following its FY21 earnings which disappointingly showed a 37% drop in profits following from a 10% decline in revenue. Oppositely to A2M this is a stock where its increasing number of shorts would have been smiling albeit in this case only a 3.45% exposure.

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16/08/2021 08:11

Reporting Today (BPT, BEN, BSL, CAR, GPT, JBH, LLC, SWM)

Reporting Calendar: Download here Companies reporting today on MM’s radar include: Beach Energy (BPT) FY21 Results: NPAT expected to be  $324m

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03/06/2021 09:14

Beach petroleum (BPT) $1.295

BPT has certainly dropped the ball in 2021 and at this stage we still no reason to move this far down the quality curve.

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