Is Beach Energy (BPT) a buy?

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Question asked 02/10/2021

Is Beach Energy (BPT) a buy?

Good afternoon James and Team, Are you able to share your thoughts on Beach Energy Limited (BPT). With crude at multi-year highs, the stock is up almost 50% inside 10 sessions. Is BPT finally playing catch-up trade to KAR, STO and WPL or is more of a stock specific move heading into Christmas. Would MM consider buying into BPT between $1.15 to $1.25 (15% lower from Friday's close). Have a great and restful weekend. Kind regards, Tianlei

Answer

Hi Tianlei,

The simple answer is we’re bullish energy prices over the coming months which makes us bullish Beach Energy (BPT). They also came out with a better operational update recently, the first positive update from the company in a long time after some clear production issues. That said, we still prefer to stay with quality in the space and for that reason our No 1 pick remains Santos (STO).

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Beach Energy (BPT)

LAST UPDATED 02/10/2021 07:49

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