Gazprom: Shot Up by 33% and is Likely Headed Higher
Gazprom (OGZPY) recently surged by over 33%, following the company’s decision to substantially raise its dividend. The new dividend would yield roughly 10% relative to the 4-5% return investors were receiving before the recent stock spike.
Source: StockCharts.com
Naturally, this is extremely beneficial for the company and implies shares are still dramatically undervalued. Moreover, even with the recent share price increase, Gazprom is still trading at a P/E ratio of just 3.12.
Analysts’ estimates may also be light, as the