REPYY - Repsol: Dividend Strength Points To A Rising Share Price
2024-01-24 03:28:40 ET
Summary
- Repsol's net income in Q3 2023 grew to $1.44 billion, a 33% improvement over Q2, driven by higher oil and gas prices.
- Repsol stock has gained almost 32% in the past 30 months, outperforming the S&P 500.
- Repsol continues to focus on sustainable and profitable projects in its upstream operations, with a focus on low breakeven prices and predictable cash flows.
Intro
We wrote about Repsol , S.A. ( REPYY ) in July'2021 when we reviewed the key metrics that make up the company's dividend. Although we saw no adverse trends in Repsol's dividend at the time, we stamped a 'Hold' rating on the stock due to how the company's liabilities were outpacing its assets on the balance sheet. In saying this, forward-looking earnings expectations were bullish and to this point, Repsol has not disappointed. Net income in Q1 of 2021 came in at $766 million and has since grown to $1.44 billion in the company's latest third quarter of 2023. Repsol's strong Q3 bottom-line print was a 33% sequential improvement over Q2 with the integrated energy company being able to take advantage of higher oil and gas prices in the quarter....
Repsol: Dividend Strength Points To A Rising Share Price