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Fundamental Company Analysis - World Oil & Gas Production Sector
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&riSQeaioQd !iQdtncn & !iQdtno FaRleeaiSQoclinSloia Lfi DWp MolarYqflk & Plm 2-
October 2012
A . M !SscnlmnA . M !Sscnlmn | Avenue de la Gare, 1 1003 Lausanne | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
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Dolpp GWodfk /3'4 /5'-1 /5'66 /3'40 /6'-2 /4'1 /3'0 /6'02 /6'1/ /4'1/ & & & & & & & & & & &LmboWqfkd GWodfk .5'/ .6'/ .5'4. .3'04 /-'64 /-'22 /-'5/ /- .4'./ .1'13 & & & & & & & & & & &Molcfq GWodfk ..'5 ./'12 ./'34 6'32 .0'04 .1'56 .0'51 .0'-3 ..'0/ 6'53 & & & & & & & & & & &B8EPA7 GWodfk .4'. .5'25 .6'5. .6'35 .6'./ /.'1. /.'-4 /-'55 .6'05 .4'34 & & & & & & & & & & &Nbqrok lk 7ppbqp 6'/ .-'./ 5'.6 3'-0 ..'22 ./'44 .1'/4 .0'24 ..'50 6'3. & & & & & & & & & & &Nbqrok lk 9ljjlk Bnrfqv .4'4 .6'25 .2'16 ./'/3 //'60 /3'-2 /5'63 /6'20 /2'45 /.'06 & & & & & & & & & & &Nbqrok lk 9WmfqWi .2'0 .3'-/ .0'.6 .-'63 /.'01 /.'-4 /1'03 /0'51 /-'3/ .3'2 & & & & & & & & & & &
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Index Analysis - Financial Statements
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
Currency
Market
Capitalization (in mio
USD)
Daily
Volume (M)
Total
Common
Shares (M)
Total Debt
(USD)
Preferred
Stock (USD)
Minority
Interest
(USD)
Cash and
Equivalents
(USD)
Enterprise
Value
(USD)
Tot. Rev. -
LFY
Est. Tot.
Rev. - Tr.
12M
Est. Tot.
Rev. - 2013
Est. Tot.
Rev. - 2014 EBITDA - LFY
Est. EBITDA -
Tr. 12M
Est. EBITDA -
2013
Est. EBITDA -
2014 EPS - LFY
Est. EPS -
Tr. 12M
Est. EPS -
2013
Est. EPS -
2014
P/E Ratio -
LFY
Est. P/E
Ratio - Tr.
12M
Est. P/E
Ratio - 2013
Est. P/E
Ratio - 2014
Est.
Revenue
Growth - 1Y
Est.
Revenue
Growth - 5Y
Est. EBITDA
Growth - 1Y
Est. Est.
EBITDA
Growth - 5Y
Est. EBITDA
Margin -
S&P LT
Credit
Rating -
S&P LT Credit
Rating Date
Moody's LT
Credit
Rating
Moody's LT Credit
Rating Date
S&P 500 INDEX USD 13062542 1848.455 1095 1095 202 211 211 98.95 104.64 104.64 14.28 14.28 13.51 13.51 19.16
Euro Stoxx 50 Pr EUR 2366679 5492.227 4631 4631 760 789 789 148.29 303.79 303.79 28.16 14.46 13.75 13.75 20.95
NIKKEI 225 JPY 2125691 170.8217 224 224 22 24 24 5.08 7.74 7.74 0.28 0.22 0.18 0.18 0.14
FTSE 100 INDEX GBP 2574240 11299.74 9540 9540 1573 1643 1643 717.53 822.22 822.22 20.78 19.66 18.13 18.13 26.07
SWISS MARKET INDEX CHF 895161 10512.34 3951 3951 808 791 791 386.54 520.25 520.25 19.63 19.31 14.59 14.59 22.32
S&P/TSX COMPOSITE INDEX CAD 1661436 16864.97 7789 7789 1959 1984 1984 819.71 841.22 841.22 15.24 15.24 14.85 14.85 25.46
S&P/ASX 200 INDEX AUD 1255500 6203.943 2889 2889 650 702 702 270.76 345.56 345.56 17.79 15.01 13.94 13.94 23.99
HANG SENG INDEX HKD 1626442 3199.112 1453 1453 347 362 362 257.04 246.04 246.04 1.41 1.53 1.47 1.47 3.14
MSCI EM USD 7323468 1378.767 964 964 182 181 181 79.75 86.36 86.36 12.50 12.94 11.54 11.54 18.98
EXXON MOBIL CORP USD 416265 14086 4734 17 0 6 13 419.22 433526 434824 475665 456873 69687 65402 19961 19961 8.42 7.90 7.89 8.26 11.42 11.42 11.42 10.91 26.92 10.02 26.98 0.39 15.04 AAA 16.12.1985 WR 16.08.1993
PETROCHINA CO LTD-A CNY 258183 8018 183021 51 0 13 10 327.66 320733 325449 339797 353091 51758 - - - 0.12 0.11 0.12 0.13 2.02 - 1.96 1.80 5.88 - 1.04 0.68 - - - - -
CHEVRON CORP USD 214619 8012 1981 10 0 1 16 204.69 236286 230561 241746 237967 51210 50980 13889 13889 13.44 13.01 12.76 12.47 8.41 8.41 8.57 8.77 24.62 10.19 33.23 8.05 22.11 AA 01.07.1987 Aa1 27.02.2009
BP PLC GBp 132607 9108 18976 71 0 2 23 265.66 601308 602410 562213 565222 61163 47438 16840 16840 1.71 1.47 1.48 1.61 12.17 18.77 12.04 11.06 42.26 21.09 -1.25 2.07 12.61 A 24.09.2010 - -
ECOPETROL SA COP 129050 3415 41117 5 0 1 4 132.78 36269 38406 34309 36938 17131 18151 3862 3862 - 0.22 0.22 0.25 0.01 - 0.01 0.01 0.03 - 0.04 0.02 0.03 BBB- 18.03.2011 Baa2 13.07.2009
ROYAL DUTCH SHELL PLC-A SHS GBp 219415 834 6254 60 0 2 18 378.70 752876 762170 748250 729782 89580 83912 20464 20464 7.96 6.74 6.82 7.21 12.92 12.94 12.77 12.09 44.43 24.22 53.98 3.45 17.63 AA 03.09.2009 Aa1 20.07.2005
TOTAL SA EUR 118731 1809 2254 42 0 2 19 144.83 215627 227646 251933 248219 42619 41311 11816 11816 7.04 6.21 7.02 7.08 10.46 10.46 9.26 9.18 24.03 12.66 22.50 2.94 23.49 AA- 12.04.2011 Aa1 30.08.2005
GAZPROM OAO RUB 113960 31020 23700 49 0 9 17 145.83 147808 144880 152352 161080 62797 56842 14580 14580 - 1.60 1.59 1.52 0.10 - 0.10 0.10 0.92 0.54 1.30 0.50 1.25 BBB 29.11.2006 Baa1 03.04.2009
ROYAL DUTCH SHELL PLC-B SHS GBp 219304 1643 6254 60 0 2 18 379.09 752876 762170 748250 729782 89580 83912 20464 20464 7.96 6.74 6.82 7.21 13.38 13.40 13.22 12.52 44.43 24.22 53.98 3.45 17.63 AA 03.09.2009 Aa1 20.07.2005
CNOOC LTD HKD 92400 56291 44659 5 0 0 13 66.69 31088 30275 30020 31243 15360 14707 6959 6959 0.20 0.18 0.19 0.19 1.19 - 1.15 1.15 4.37 4.46 2.77 2.43 6.27 AA- 16.12.2010 - -
PETROBRAS - PETROLEO BRAS BRL 142407 135 13044 77 1 29 206.08 120521 129362 134811 139731 30396 27874 8340 8340 1.26 0.73 1.05 1.36 7.51 7.51 5.20 4.01 7.53 5.71 1.89 1.43 10.64 BBB 17.11.2011 - -
ENI SPA EUR 82338 6383 3623 38 0 6 2 123.90 141881 154605 154665 156961 33314 33865 8163 8163 2.45 2.37 2.68 2.82 12.39 - 10.93 10.39 14.54 15.22 3.83 0.26 28.36 A 17.01.2012 A3 16.07.2012
ROSNEFT OAO RUB 79421 38582 9588 24 0 1 5 102.63 86 K 93 K 95 K 102 K 20591 17663 5625 5625 - 0.93 1.04 1.00 0.26 - 0.23 0.24 1.31 0.95 0.35 0.86 0.60 BBB- *- 25.07.2012 WR 20.11.2006
STATOIL ASA NOK 78929 2544 3181 23 0 1 11 85.41 112302 125537 125113 115893 45552 48299 9796 9796 - 4.23 2.95 2.97 1.02 - 1.46 1.45 3.92 2.06 6.99 0.87 6.69 AA- 03.08.2007 Aa2 23.06.2005
BG GROUP PLC GBp 71786 1592 3611 24 0 0 6 131.88 33744 36046 36978 38623 16054 16668 4170 4170 1.87 1.72 2.24 2.60 31.43 24.08 24.15 20.84 36.45 17.87 25.00 13.48 74.04 - - - -
CHINA PETROLEUM & CHEMICAL-A CNY 88331 10264 86703 39 0 6 4 141.19 394348 388711 420476 447702 27364 - - - 0.13 0.10 0.11 0.12 1.59 - 1.49 1.30 5.01 3.38 -0.64 1.49 - A+ 16.12.2010 - -
CONOCOPHILLIPS USD 68088 6853 1286 23 0 1 6 90.52 230859 182437 100014 52319 26270 22894 5115 5115 8.77 7.77 5.52 5.90 7.21 7.21 10.15 9.50 31.35 0.83 15.96 -4.20 12.55 A 07.02.2012 A1 26.04.2012
OCCIDENTAL PETROLEUM CORP USD 65833 4088 811 6 0 0 4 69.04 23939 24076 24181 25142 14168 13695 3386 3386 8.21 7.76 6.96 7.63 10.47 10.47 11.69 10.65 25.70 13.11 30.99 8.71 56.88 A 23.06.2008 A1 19.04.2012
LUKOIL OAO RUB 52293 1763 774 0 0 0 0 1.83 4260 4360 4188 4209 562 514 158 158 - 0.35 0.44 0.43 0.18 - 0.14 0.14 1.76 0.79 0.31 0.25 0.38 BBB- 12.11.2010 - -
SUNCOR ENERGY INC CAD 50709 7631 1559 11 0 0 4 56.39 39766 40258 40540 42254 11297 11964 2735 2735 3.58 3.54 3.23 3.30 9.43 9.43 10.33 10.11 23.17 24.81 36.84 20.03 30.04 BBB+ 28.07.2009 Baa2 30.10.2009
RELIANCE INDUSTRIES LTD INR 49357 2806 2979 17 0 0 13 54.07 66716 66716 66761 64065 6534 6534 - - 1.23 1.23 1.19 1.26 0.23 0.23 0.24 0.22 0.65 0.49 -0.14 0.21 0.18 BBB 23.11.2005 Baa2 07.02.2006
OIL & NATURAL GAS CORP LTD INR 43952 1465 8555 3 0 0 5 42.01 27239 27239 29405 31036 9223 9223 1833 1833 0.54 0.61 0.57 0.62 0.16 0.18 0.17 0.15 0.46 0.23 0.31 0.15 0.63 - - WR 04.12.2000
IMPERIAL OIL LTD CAD 37967 909 848 1 0 0 1 38.18 29472 29793 30561 32609 4987 5089 1245 1245 3.81 3.97 3.91 3.91 11.40 11.40 11.60 11.59 23.63 8.00 38.91 1.09 17.27 AAA 16.10.1992 WR 15.10.2002
NOVATEK OAO RUB 33991 1361 3036 3 0 0 1 36.51 5612 6061 6989 8759 2834 2911 3160 3160 - 1.23 0.71 0.96 0.29 - 0.50 0.37 1.61 - 1.86 1.00 1.53 BBB- 19.11.2010 - -
ANADARKO PETROLEUM CORP USD 33449 5300 498 15 1 3 46.53 13656 13934 13623 15396 7353 6634 2162 2162 2.64 3.88 3.48 4.23 17.25 17.25 19.24 15.83 20.42 5.69 21.44 2.71 47.61 BBB- 08.09.2006 Baa3 23.03.2012
CANADIAN NATURAL RESOURCES CAD 32817 6085 1096 9 0 0 0 41.42 13840 14993 15327 18127 7511 7989 1979 1979 2.20 2.60 1.95 2.69 11.66 11.66 15.54 11.24 5.28 8.82 2.62 7.09 53.87 BBB+ 01.11.2011 Baa1 07.10.2010
APACHE CORP USD 32522 2835 384 7 1 0 0 43.63 16810 16990 16831 18069 12551 12553 2960 2960 11.83 10.98 9.79 10.37 7.57 7.57 8.49 8.02 37.98 18.70 40.97 16.53 73.88 A- 26.01.2001 A3 29.11.2010
SURGUTNEFTEGAS RUB 32136 21549 35726 0 0 0 12 20.32 25113 25113 32128 32446 - - 2621 2621 - 0.20 0.14 0.13 0.15 - 0.20 0.21 0.85 0.30 - - - - - - -
TNK-BP HOLDING-CLS USD 31644 128 14997 2 0 1 1 31.58 38774 38585 56210 56514 13598 12530 13198 13198 - 0.53 0.58 0.56 3.98 - 3.64 3.79 30.66 18.66 35.13 12.72 32.47 - - WR 06.11.2007
PTT PCL/FOREIGN THB 31075 0 2856 13 0 3 4 44.90 79093 85298 84766 89182 6598 6578 1788 1788 1.20 0.96 1.23 1.37 0.37 - 0.29 0.26 0.91 0.59 0.70 0.23 0.25 BBB+ 15.04.2009 Baa1 21.02.2011
WOODSIDE PETROLEUM LTD AUD 29772 2311 804 5 0 1 0 36.46 4965 5380 6227 6661 2848 3091 2839 2839 1.95 1.92 2.79 2.74 20.11 - 13.83 14.11 15.02 26.85 -4.73 7.02 59.40 BBB+ 03.12.2010 - -
EOG RESOURCES INC USD 29746 2000 269 5 0 0 1 34.48 9155 10553 10220 11385 4689 5273 1451 1451 3.79 4.30 4.71 5.50 25.62 25.62 23.39 20.03 57.90 29.28 70.15 12.62 49.96 A- 12.04.2007 A3 24.03.2006
PTT PCL THB 29214 2762 2856 13 0 3 4 43.04 79093 85298 84766 89182 6598 6578 1788 1788 1.20 0.96 1.23 1.37 0.35 - 0.27 0.24 0.91 0.59 0.70 0.23 0.25 BBB+ 15.04.2009 Baa1 21.02.2011
PETROCHINA CO LTD-H HKD 258172 85497 183021 41 0 10 8 264.14 258550 270732 267031 285190 41723 41851 - - 0.10 0.09 0.10 0.11 1.56 1.53 1.49 1.34 4.74 3.34 0.84 0.55 1.99 - - - -
PHILLIPS 66 USD 28161 4079 #VALUE! 0 0 0 0 33.07 196088 #VALUE! 189621 163676 3034 - 2700 2700 - - 7.18 5.93 - - 6.26 7.57 33.79 - 987.46 - - BBB 01.03.2012 Baa1 07.03.2012
FORMOSA PETROCHEMICAL CORP TWD 26829 1296 9526 6 0 0 2 32.09 27260 27190 29497 30514 1582 195 407 407 - -0.05 0.04 0.11 - - 2.72 0.86 0.23 0.39 -1.08 -0.27 0.02 BBB+ 30.12.2010 - -
HUSKY ENERGY INC CAD 26536 1140 958 4 0 0 2 28.78 23619 23700 23665 23372 5937 5541 1191 1191 2.45 2.05 1.89 1.88 13.31 13.31 14.47 14.50 36.98 24.80 68.35 2.51 23.63 BBB+ 27.07.2006 Baa2 05.04.2011
CENOVUS ENERGY INC CAD 25822 2738 754 4 0 0 1 29.58 15867 17150 16517 16884 3789 4201 1184 1184 1.77 1.77 1.99 2.16 19.55 19.55 17.42 16.00 24.43 - 35.20 - 24.76 BBB+ 14.09.2009 Baa2 14.09.2009
REPSOL SA EUR 24647 2452 1221 26 0 5 4 47.74 77838 78282 72844 75214 11016 10009 2356 2356 2.45 2.07 2.04 2.21 12.25 - 12.44 11.51 15.58 3.51 -37.04 -1.46 16.55 BBB- 19.04.2012 - -
DEVON ENERGY CORPORATION USD 24104 2842 404 10 0 0 7 27.66 10965 10190 8799 10064 6389 5643 1260 1260 2.51 4.73 3.17 4.55 12.60 12.60 18.81 13.09 9.46 3.02 7.63 -0.44 55.38 BBB+ 18.03.2008 Baa1 21.09.2007
GAZPROM NEFT OAO-CLS RUB 23439 476 4741 0 0 0 0 0.92 1408 1485 1434 1462 285 279 71 71 - 0.04 0.03 0.03 0.14 - 0.15 0.15 1.11 - 1.35 0.37 0.60 BBB- 09.01.2008 WR 15.01.2009
INPEX CORP JPY 21455 9 4 4 0 2 8 19.11 14866 14866 14171 14361 9572 9572 - - 665.64 665.64 611.74 529.80 0.11 - 0.12 0.14 0.32 0.15 0.37 0.06 0.81 A 01.10.2008 - -
MARATHON OIL CORP USD 20853 12233 704 5 0 0 0 25.65 14663 14834 14695 15672 6770 7354 2103 2103 3.21 2.64 2.64 3.27 11.20 11.20 11.18 9.03 25.43 -10.59 22.11 -7.38 49.58 BBB 01.07.2011 Baa2 28.06.2011
TULLOW OIL PLC GBp 20443 937 905 5 0 0 0 33.94 3690 3857 3877 4466 2664 2037 1119 1119 1.15 1.56 1.29 1.34 36.97 37.31 44.93 43.11 178.44 48.02 263.64 24.58 84.56 - - - -
SEADRILL LTD NOK 18733 596 468 2 0 0 0 5.11 729 723 777 911 403 417 108 108 - 0.32 0.54 0.62 3.76 - 2.24 1.97 0.76 5.48 1.97 7.40 10.03 - - - -
MARATHON PETROLEUM CORP USD 18014 2578 357 3 0 0 3 19.45 73524 75100 79442 80747 4515 4705 1888 1888 6.70 7.03 9.14 8.20 7.57 7.57 5.83 6.49 28.36 - 146.18 - 6.26 BBB 27.01.2011 Baa2 28.06.2011
HESS CORP USD 17885 5881 340 6 0 0 0 25.39 38466 37384 38769 40742 6203 6270 1727 1727 7.28 5.50 5.86 6.50 9.52 9.52 8.94 8.06 13.60 10.37 7.50 5.17 16.77 BBB 22.07.2010 Baa2 28.04.2008
CHINA PETROLEUM & CHEMICAL-H HKD 88327 74164 86703 31 0 5 3 113.82 317893 332154 326306 341323 22059 20248 - - 0.11 0.08 0.09 0.11 1.31 - 1.26 1.00 4.04 3.11 -0.52 1.20 0.79 A+ 16.12.2010 - -
TRANSOCEAN LTD USD 17821 3746 350 14 0 0 4 26.68 9142 9570 9947 10391 1853 1347 912 912 -5.78 -5.41 2.90 4.60 - - 16.44 10.36 -3.42 19.94 -54.22 2.51 14.08 - - - -
PTT EXPLOR & PROD PUBLIC CO THB 16870 2735 3320 4 0 0 1 20.32 5526 6130 6543 7791 3937 4507 1313 1313 0.44 0.48 0.53 0.58 0.35 0.33 0.31 0.28 0.67 0.73 0.67 0.43 2.39 BBB+ 17.02.2011 Baa1 28.03.2011
Valuation Measures I/II
Market Capitalization & Asset Liability data Total Revenue EBITDA Earnings Per Share Price/Earnings ratio Rev. Growth EBITDA Growth
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 2012 %D to Spot
S&P 500 INDEX 2.09 2.09 1.90 1.74 2.09 1.29 1.29 1.25 1.19 1.29 9.36 9.36 8.76 8.61 9.36 8.74 8.74 8.16 7.58 8.74 13.51 13.51 12.20 10.96 13.51 2.24 2.24 2.43 2.61 2.24 1598.5 13.1%
Euro Stoxx 50 Pr 1.11 1.11 1.05 0.99 1.11 0.70 0.70 0.68 0.66 0.70 5.08 5.08 4.81 4.44 5.08 6.97 6.97 6.64 6.31 6.97 10.62 10.62 9.70 8.79 10.62 4.29 4.29 4.77 5.13 4.29 2713.8 8.9%
NIKKEI 225 1.09 1.09 1.02 0.96 1.09 0.50 0.50 0.47 0.48 0.50 6.40 6.40 5.88 5.60 6.40 7.16 7.16 6.55 6.18 7.16 14.50 14.50 12.76 10.85 14.50 2.32 2.32 2.34 2.66 2.32 9793.3 9.4%
FTSE 100 INDEX 1.61 1.61 1.49 1.38 1.61 0.98 0.98 0.95 0.93 0.98 7.42 7.42 6.77 6.24 7.42 6.88 6.88 6.35 5.95 6.88 11.32 11.32 10.28 9.43 11.32 4.06 4.06 4.32 4.60 4.06 6374.3 9.6%
SWISS MARKET INDEX 2.10 2.10 1.96 1.81 2.10 1.80 1.80 1.69 1.60 1.80 11.64 11.64 10.04 9.02 11.64 13.29 13.29 12.22 11.39 13.29 13.63 13.63 12.16 11.08 13.63 3.56 3.56 3.91 4.24 3.56 7145.5 7.8%
S&P/TSX COMPOSITE INDEX 1.71 1.71 1.58 1.46 1.71 1.59 1.59 1.47 1.41 1.59 8.66 8.66 7.73 7.08 8.66 8.50 8.50 7.41 6.88 8.50 14.69 14.69 12.72 11.48 14.69 2.99 2.99 3.13 3.32 2.99 14207.7 16.2%
S&P/ASX 200 INDEX 1.69 1.69 1.60 1.51 1.69 1.61 1.61 1.50 1.42 1.61 9.87 9.87 8.96 8.33 9.87 8.83 8.83 7.81 7.22 8.83 13.48 13.48 12.04 11.05 13.48 4.83 4.83 5.19 5.58 4.83 4690.9 4.1%
HANG SENG INDEX 1.41 1.41 1.30 1.19 1.41 1.93 1.93 1.79 1.65 1.93 7.19 7.19 6.67 6.32 7.19 8.84 8.84 8.03 7.36 8.84 11.41 11.41 10.55 9.52 11.41 3.39 3.39 3.63 3.97 3.39 22763.4 4.6%
MSCI EM 1.51 1.51 1.37 1.24 1.51 1.03 1.03 0.96 0.89 1.03 7.17 7.17 6.47 5.88 7.17 7.62 7.62 6.80 6.21 7.62 11.54 11.54 9.84 8.85 11.54 2.89 2.89 3.08 3.42 2.89 1132.7 13.6%
EXXON MOBIL CORP 2.69 2.50 2.27 2.10 0.86 0.88 0.91 0.93 7.80 7.77 7.29 7.05 6.27 4.76 4.90 5.17 4.93 10.71 11.42 10.91 10.65 9.87 2.05 2.40 2.62 2.78 2.80 92.94 3.1%
PETROCHINA CO LTD-A 1.59 1.51 1.41 1.34 0.89 0.76 0.73 0.72 6.31 6.01 5.05 5.02 6.09 6.28 5.71 5.72 11.38 12.23 11.23 10.52 4.47 3.51 3.62 3.39 10.25 15.9%
CHEVRON CORP 1.76 1.57 1.41 1.29 0.87 0.89 0.90 0.85 5.48 5.48 5.48 5.23 4.97 3.47 3.56 3.70 3.54 8.14 8.57 8.77 8.64 7.93 2.83 3.21 3.41 3.59 3.81 124.10 13.5%
BP PLC 1.17 1.13 1.04 0.92 0.35 0.38 0.38 0.36 4.86 5.15 4.28 3.73 3.85 3.71 4.19 3.89 3.64 6.15 7.52 6.91 6.48 6.07 4.05 4.69 5.02 5.27 5.78 500.44 15.1%
ECOPETROL SA 3.98 3.76 3.49 3.34 13.32 10.94 9.96 10.11 8.41 7.83 6.82 6.58 15.29 14.03 12.41 12.54 3.67 4.13 4.52 4.24 5268.69 -7.4%
ROYAL DUTCH SHELL PLC-A SHS 1.28 1.15 1.06 0.98 0.46 0.47 0.48 0.48 5.24 4.61 4.54 4.44 4.48 3.82 3.96 3.74 3.65 8.18 7.98 7.55 7.44 6.84 5.03 5.08 5.25 5.40 5.58 2537.60 19.6%
TOTAL SA 1.32 1.18 1.07 0.99 0.52 0.47 0.48 0.48 4.34 4.12 3.93 3.80 3.44 3.52 3.28 3.27 3.22 7.49 7.15 7.09 7.11 6.28 5.93 6.02 6.16 6.28 6.65 44.75 15.4%
GAZPROM OAO 0.49 0.42 0.37 0.34 0.31 0.78 0.75 0.71 0.68 0.65 2.45 2.19 2.49 2.26 2.17 2.51 2.62 2.55 2.55 2.51 2.85 3.03 3.16 3.26 3.05 4.53 5.53 5.44 5.74 6.00 219.31 45.2%
ROYAL DUTCH SHELL PLC-B SHS 1.32 1.19 1.09 1.01 0.46 0.47 0.48 0.48 5.43 4.77 4.70 4.60 4.64 3.83 3.96 3.74 3.66 8.47 8.26 7.82 7.70 7.08 4.88 4.91 5.09 5.26 5.29 2503.85 14.1%
CNOOC LTD 2.19 1.86 1.62 1.44 1.30 2.50 2.48 2.38 2.36 2.13 5.75 5.99 5.86 5.90 6.77 4.24 4.23 4.11 4.05 3.93 8.37 8.94 8.92 8.93 8.53 3.94 2.71 2.87 2.88 3.56 17.12 6.7%
PETROBRAS - PETROLEO BRAS 0.84 1.03 0.95 0.89 1.18 1.06 1.02 1.02 1.05 4.62 5.35 4.74 4.33 3.47 6.08 6.44 5.62 5.15 4.77 7.61 10.53 8.13 7.65 7.12 4.00 3.12 2.95 2.66 4.54 30.61 36.2%
ENI SPA 1.17 1.05 0.97 0.91 0.80 0.58 0.53 0.52 0.52 0.49 3.93 3.45 3.17 3.09 2.84 3.47 3.16 3.15 3.05 2.77 8.93 8.44 8.03 7.60 6.93 5.93 6.16 6.31 6.44 6.59 20.21 15.5%
ROSNEFT OAO 1.13 1.02 0.91 0.82 0.70 0.91 0.84 0.78 0.75 0.72 4.49 4.34 4.18 4.01 3.59 4.74 5.21 4.83 4.67 4.42 5.97 7.18 7.51 7.20 6.76 1.50 2.58 2.72 2.78 3.08 251.11 6.8%
STATOIL ASA 1.71 1.41 1.27 1.16 1.01 0.71 0.63 0.68 0.66 0.65 4.17 4.02 3.85 3.67 3.54 2.00 1.86 1.97 1.93 1.78 9.13 8.38 8.33 8.09 7.24 4.55 4.70 4.84 4.97 5.30 163.80 15.1%
BG GROUP PLC 2.47 2.18 1.92 1.69 1.35 3.59 3.11 2.98 2.60 2.06 11.08 8.57 7.77 6.66 4.88 7.83 7.22 6.21 5.38 4.18 17.21 15.08 13.02 11.38 8.26 1.11 1.22 1.33 1.45 1.71 1647.76 25.0%
CHINA PETROLEUM & CHEMICAL-A 1.14 1.06 0.96 0.88 0.24 0.21 0.20 0.18 4.11 3.91 3.51 3.27 4.93 5.43 4.49 4.23 7.10 9.33 8.14 5.98 3.76 3.72 3.72 4.52 8.67 37.4%
CONOCOPHILLIPS 1.14 1.24 1.15 1.06 0.30 0.68 1.30 1.27 4.00 5.09 4.63 4.46 4.42 2.98 3.96 3.97 3.71 6.60 10.15 9.50 9.36 7.87 4.64 4.77 4.88 5.02 5.80 61.23 9.2%
OCCIDENTAL PETROLEUM CORP 1.73 1.59 1.42 1.28 2.84 2.72 2.62 2.53 5.94 5.99 5.50 5.20 4.89 4.70 4.86 4.33 4.19 9.77 11.69 10.65 9.89 8.65 2.15 2.59 2.83 3.01 3.44 108.35 33.3%
LUKOIL OAO 0.70 0.64 0.57 0.51 0.45 0.39 0.40 0.40 0.38 0.39 3.11 3.18 3.06 2.59 2.44 2.88 3.08 3.01 2.74 2.86 4.23 4.47 4.52 4.36 4.14 4.35 4.29 4.34 4.69 5.00 2519.30 30.6%
SUNCOR ENERGY INC 1.29 1.20 1.06 1.00 1.29 1.25 1.20 1.15 5.38 5.18 4.97 5.07 5.28 4.88 4.88 4.72 4.71 4.65 9.16 10.22 10.00 10.27 10.81 1.35 1.51 1.70 1.83 1.59 42.14 29.0%
RELIANCE INDUSTRIES LTD 1.50 1.38 1.26 1.16 0.81 0.74 0.77 0.74 0.68 8.36 8.27 7.58 6.44 8.15 8.77 8.37 7.04 6.57 12.71 12.69 11.94 10.59 9.90 1.05 1.12 1.21 1.37 825.76 2.0%
OIL & NATURAL GAS CORP LTD 1.80 1.55 1.39 1.27 1.62 1.49 1.42 1.39 1.31 4.97 4.90 4.64 4.14 3.97 3.93 3.64 3.58 3.30 8.85 8.97 8.31 7.75 7.67 3.68 3.65 3.85 3.99 314.58 14.0%
IMPERIAL OIL LTD 2.72 2.36 2.02 1.76 1.23 1.24 1.16 1.25 9.69 8.86 8.70 8.81 7.01 7.34 7.43 6.58 7.00 12.03 11.47 11.47 11.31 10.87 1.00 1.07 1.12 1.18 1.15 49.82 12.4%
NOVATEK OAO 5.63 4.06 3.27 2.68 2.31 5.99 4.86 3.88 3.26 2.77 19.97 14.72 11.27 10.30 8.96 13.14 11.55 9.09 7.99 7.43 17.80 15.73 11.69 9.79 8.55 1.50 1.93 2.62 3.12 3.40 422.41 20.3%
ANADARKO PETROLEUM CORP 1.75 1.60 1.45 1.31 2.51 2.46 2.17 1.93 1.75 5.02 4.53 4.21 3.50 3.10 5.80 5.33 4.79 4.25 3.95 21.18 19.24 15.83 12.41 11.68 0.54 0.54 0.49 0.47 99.80 49.1%
CANADIAN NATURAL RESOURCES 1.41 1.31 1.17 1.04 2.40 2.14 1.81 1.83 5.09 5.00 4.22 3.58 3.33 5.40 5.33 4.42 3.99 4.02 12.83 15.37 11.12 9.56 10.33 1.18 1.39 1.50 1.55 1.42 41.44 39.8%
APACHE CORP 1.14 1.02 0.90 0.80 1.93 1.93 1.80 1.60 1.33 3.30 3.34 3.08 2.68 2.58 3.52 3.63 3.35 2.95 7.01 8.49 8.02 6.85 4.45 0.77 0.82 0.82 0.83 113.44 36.5%
SURGUTNEFTEGAS 0.76 0.71 0.67 0.58 0.50 0.92 1.00 0.99 1.02 1.15 3.03 3.01 3.17 4.18 4.04 1.87 2.04 2.16 2.30 2.30 4.85 6.33 6.73 7.25 7.25 3.38 2.41 2.43 2.41 2.25 36.38 28.9%
TNK-BP HOLDING-CLS 1.29 1.15 1.04 0.95 0.84 0.57 0.56 0.56 0.56 0.55 3.40 2.89 3.02 3.04 2.77 2.33 2.39 2.47 2.54 2.53 3.64 3.64 3.79 4.00 3.77 15.31 17.87 16.35 16.40 18.39 3.59 70.2%
PTT PCL/FOREIGN 1.65 1.48 1.31 1.18 1.09 0.42 0.37 0.35 0.34 0.33 6.37 5.99 5.19 4.65 4.66 6.65 6.06 5.52 5.12 5.64 9.00 8.87 7.95 7.55 8.31 3.57
WOODSIDE PETROLEUM LTD 2.30 1.94 1.84 1.71 1.62 6.21 4.95 4.62 4.34 4.10 12.09 7.96 8.17 7.27 6.70 11.33 8.14 7.72 7.21 7.34 16.99 13.38 13.65 12.60 11.85 3.11 3.77 3.92 4.19 4.26 39.98 14.4%
EOG RESOURCES INC 2.32 2.12 1.89 1.67 3.58 2.91 2.61 2.37 1.96 6.56 5.69 5.08 4.07 3.90 6.94 5.88 5.22 4.27 3.99 31.40 23.39 20.03 14.66 0.57 0.61 0.58 0.63 128.67 16.8%
PTT PCL 1.55 1.39 1.23 1.11 1.03 0.39 0.34 0.33 0.32 0.31 5.99 5.63 4.88 4.37 4.38 6.37 5.81 5.29 4.91 5.40 8.46 8.34 7.48 7.10 7.81 3.97 4.19 4.60 4.77 4.07 383.41 22.1%
PETROCHINA CO LTD-H 1.56 1.46 1.36 1.25 1.11 0.86 0.78 0.73 0.70 0.67 5.21 5.03 4.61 4.50 4.04 6.15 5.90 5.38 4.99 4.37 11.46 11.51 10.42 9.56 7.97 3.88 3.89 4.27 4.55 5.66 11.19 4.8%
PHILLIPS 66 1.55 1.36 1.23 1.06 0.92 0.15 0.15 0.17 0.17 0.19 11.99 6.34 6.99 7.18 6.82 4.68 4.13 4.83 5.04 4.47 8.03 6.26 7.57 7.88 7.30 0.00 0.98 2.11 2.16 2.05 53.27 18.6%
FORMOSA PETROCHEMICAL CORP 3.36 3.68 3.35 3.19 3.11 1.00 0.91 0.88 0.89 23.50 25.78 17.55 12.28 16.84 25.18 16.24 15.51 33.73 79.79 25.32 23.01 3.29 1.37 2.86 3.53 71.73 -13.1%
HUSKY ENERGY INC 1.44 1.38 1.32 1.27 1.11 1.12 1.14 1.11 4.69 5.83 5.93 5.41 5.53 4.81 5.52 5.30 4.93 4.48 10.95 14.32 14.35 13.71 15.02 4.49 4.49 4.49 4.49 4.49 28.31 5.9%
CENOVUS ENERGY INC 2.70 2.45 2.26 2.06 1.73 1.56 1.53 1.42 7.84 7.04 7.09 6.54 6.45 7.76 6.90 7.14 6.74 18.74 17.23 15.83 14.77 14.65 2.37 2.60 2.65 2.71 2.60 40.99 21.1%
REPSOL SA 0.73 0.71 0.68 0.66 0.59 0.29 0.34 0.33 0.32 0.34 3.21 4.09 3.79 3.45 3.29 4.38 5.41 5.08 4.79 4.54 9.10 9.61 8.89 8.31 7.92 7.63 5.42 5.76 6.12 6.04 17.76 17.2%
DEVON ENERGY CORPORATION 1.15 1.06 1.01 0.92 2.42 2.74 2.40 2.09 4.10 5.08 4.38 3.40 4.17 5.21 4.46 3.62 9.88 18.81 13.09 9.09 1.12 1.18 1.18 1.12 78.46 31.7%
GAZPROM NEFT OAO-CLS 0.99 0.89 0.77 0.68 0.59 0.54 0.52 0.51 0.51 0.50 3.67 3.33 3.26 3.16 2.78 3.26 3.34 3.38 3.27 3.16 4.47 4.56 4.75 4.91 4.39 4.52 5.11 4.60 4.82 5.29 209.70 35.2%
INPEX CORP 0.79 0.75 0.71 0.68 0.63 1.52 1.51 1.49 1.45 1.39 8.27 7.32 9.62 6.85 7.19 2.02 2.17 2.15 2.18 2.15 9.59 9.59 11.08 11.18 11.37 1.27 1.46 1.45 1.46 1.49 695142.88 48.4%
MARATHON OIL CORP 1.12 1.06 0.94 0.84 0.66 1.42 1.33 1.43 3.85 4.47 3.80 4.30 3.08 3.06 2.82 2.80 7.91 11.18 9.03 8.80 2.67 2.29 2.36 2.39 34.80 17.7%
TULLOW OIL PLC 4.55 3.63 3.35 3.19 3.37 8.96 8.45 7.34 7.33 5.87 14.88 13.66 12.65 13.61 8.36 12.56 11.91 10.75 10.63 9.98 32.74 28.06 26.92 29.64 27.58 0.62 0.72 0.77 0.76 0.89 1537.23 9.3%
SEADRILL LTD 2.94 3.02 2.98 2.81 2.60 4.50 4.20 3.59 3.01 2.88 9.53 9.35 8.07 6.56 12.42 11.53 9.71 7.93 7.16 14.94 12.86 11.32 9.01 7.97 7.53 8.57 8.79 9.42 10.24 253.40 10.4%
MARATHON PETROLEUM CORP 1.93 1.59 1.33 1.12 0.24 0.23 0.22 0.20 5.59 3.97 4.15 4.15 2.99 4.03 3.40 3.67 3.87 7.75 5.83 6.49 6.62 3.84 1.18 2.32 2.96 2.89 65.83 23.6%
HESS CORP 0.92 0.85 0.77 0.70 0.50 0.46 0.44 0.42 3.46 3.46 3.03 2.77 2.41 3.87 3.43 3.15 3.11 8.71 8.94 8.06 8.30 6.70 0.78 0.78 0.76 0.76 0.76 64.92 24.0%
CHINA PETROLEUM & CHEMICAL-H 1.21 1.12 1.02 0.92 0.82 0.23 0.22 0.21 0.20 0.19 3.98 4.01 3.47 3.37 2.58 5.04 5.38 4.62 4.29 3.91 7.61 9.76 7.73 7.26 7.54 3.38 3.35 4.00 4.37 3.94 8.20 0.3%
TRANSOCEAN LTD 0.72 1.06 0.97 0.87 1.97 1.79 1.72 1.56 1.51 7.95 7.23 5.67 4.71 9.34 7.99 6.39 5.51 5.58 33.62 16.44 10.36 7.87 7.64 5.00 1.24 2.11 0.98 60.81 27.6%
PTT EXPLOR & PROD PUBLIC CO 2.60 2.09 1.80 1.56 1.54 3.12 2.58 2.17 2.11 2.21 6.83 5.60 5.21 5.04 4.57 5.33 4.37 3.78 3.64 3.58 11.94 9.58 8.71 8.50 8.35 3.27 3.93 4.43 4.59 9.58 176.69 13.3%
Price to Earnings Ratio
Valuation Measures II/II
Estimated Dividend YieldPrice to Book Ratio Price to Sales Ratio Price to Cash Flow Ratio Enterprise Value to EBITDA Ratio Target
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Exxon Mobil Corporation operates petroleum and petrochemicals businesses on a
worldwide basis. The Company's operations include exploration and production of
oil and gas, electric power generation, and coal and minerals operations.
Exxon Mobil also manufactures and markets fuels, lubricants, and chemicals.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (19.10.2012) 93.67
52-Week Low (25.11.2011) 73.90
Daily Volume
90.18
52-Week High % Change -3.73% Dividend Yield 2.20
52-Week Low % Change 22.03% Beta 1.01
% 52 Week Price Range High/Low 82.35% Equity Float 4'605.60
Shares Out 30.06.2012 4'615.9 Short Int 41.09
416'265.44 1 Yr Total Return 15.29%
Total Debt 17'033.00 YTD Return 8.41%
Preferred Stock 0.0 Adjusted BETA 1.007
Minority Interest 6'348.0 Analyst Recs 28
Cash and Equivalents 12'664.00 Consensus Rating 3.929
Enterprise Value 419'218.43
Average Volume 5 Day 12'807'517
XOM US EQUITY YTD Change - Average Volume 30 Day 12'501'464
XOM US EQUITY YTD % CHANGE - Average Volume 3 Month 12'211'969
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
358'600.0 425'071.0 275'564.0 341'578.0 433'526.0 392'725.0 434'824.0 475'665.0 456'873.0 112'670.7 122'699.0
1.35x 0.89x 1.18x 1.10x 0.95x 3.90x 3.63x 0.90x 0.94x 3.72x 3.45x
69'905.0 78'669.0 38'156.0 54'882.0 69'687.0 65'781.0 65'402.0 85'496.3 81'018.6 19'961.0 19'754.0
6.92x 4.82x 8.54x 6.87x 5.91x 6.21x 6.08x 4.90x 5.17x 5.41x 5.43x
40'610.0 45'220.0 19'280.0 30'460.0 41'060.0 37'930.0 45'090.0 36'222.7 36'122.1 9'064.0 8'817.2
12.87x 9.46x 17.01x 11.76x 10.07x 10.69x 10.83x 11.42x 10.91x 11.08x 10.94x
EBITDA 69'687.00 Long-Term Rating Date 16.12.1985
EBIT 54'104.00 Long-Term Rating AAA
Operating Margin 12.48% Long-Term Outlook STABLE
Pretax Margin 16.90% Short-Term Rating Date 16.12.1985
Return on Assets 13.75% Short-Term Rating A-1+
Return on Common Equity 28.33%
Return on Capital 26.55% EBITDA/Interest Exp. 82.96
Asset Turnover 1.33% (EBITDA-Capex)/Interest Exp. 46.09
Net Debt/EBITDA -0.03
Gross Margin 16.4% Total Debt/EBITDA 0.24
EBITDA Margin 15.0%
EBIT Margin 11.4% Total Debt/Equity 11.0%
Net Income Margin 9.5% Total Debt/Capital 9.6%
Asset Turnover 1.33
Current Ratio 0.94 Net Fixed Asset Turnover 2.05
Quick Ratio 0.66 Accounts receivable turnover-days 29.07
Debt to Assets 5.15% Inventory Days 17.00
Tot Debt to Common Equity 11.03% Accounts Payable Turnover Day 54.83
Accounts Receivable Turnover 12.59 Cash Conversion Cycle 11.53
Inventory Turnover 21.53
Fiscal Year Ended
Exxon Mobil CorpPrice/Volume
Valuation Analysis
14'085'591.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
-.-/-0-1-2-3-4-5-6-
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0.0
50'000.0
100'000.0
150'000.0
200'000.0
250'000.0
300'000.0
350'000.0
400'000.0
450'000.0
500'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
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-/'-.'/--6 -/'-4'/--6 -/'-.'/-.- -/'-4'/-.- -/'-.'/-.. -/'-4'/-.. -/'-.'/-./ -/'-4'/-./
FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VANGUARD GROUP INC VANGUARD GROUP INC 13F 209'484'348 4.54 2'047'636 30.06.2012 Investment Advisor
STATE STREET CORP STATE STREET CORPORA 13F 187'994'321 4.07 1'316'110 30.06.2012 Investment Advisor
BLACKROCK INSTITUTIO BLACKROCK INSTITUTIO 13F 128'004'853 2.77 5'555'316 30.06.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 71'642'287 1.55 (1'704'658) 30.09.2012 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 68'517'544 1.48 4'532'448 30.06.2012 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 66'209'338 1.43 (316'745) 30.06.2012 Investment Advisor
JP MORGAN CHASE & CO JP MORGAN CHASE & CO 13F 49'557'616 1.07 (476'214) 30.06.2012 Investment Advisor
FIDELITY MANAGEMENT FIDELITY MANAGEMENT 13F 46'482'622 1.01 (4'136'959) 30.06.2012 Investment Advisor
BANK OF AMERICA CORP BANK OF AMERICA 13F 43'273'801 0.94 (1'715'284) 30.06.2012 Investment Advisor
BLACKROCK FUND ADVIS BLACKROCK FUND ADVIS 13F 38'720'883 0.84 (4'205'930) 30.06.2012 Investment Advisor
STATE FARM MUTUAL AU STATE FARM MUTUAL AU 13F 37'062'400 0.8 - 30.06.2012 Insurance Company
NORGES BANK NORGES BANK 13F 36'186'715 0.78 36'186'715 31.12.2011 Government
BLACKROCK GROUP LIMI BLACKROCK GROUP LIMI 13F 35'542'062 0.77 (7'655'604) 30.06.2012 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 35'328'962 0.77 (649'527) 30.06.2012 Investment Advisor
GEODE CAPITAL MANAGE GEODE CAPITAL MANAGE 13F 33'306'634 0.72 552'578 30.06.2012 Investment Advisor
TIAA CREF INVESTMENT TIAA-CREF INVESTMENT 13F 24'290'073 0.53 (6'252'293) 30.06.2012 Investment Advisor
FAYEZ SAROFIM FAYEZ SAROFIM 13F 21'410'641 0.46 741'823 30.06.2012 Investment Advisor
GOLDMAN SACHS GROUP GOLDMAN SACHS GROUP 13F 21'356'729 0.46 3'196'094 30.06.2012 Investment Advisor
LEGAL & GENERAL GROU LEGAL & GENERAL GROU 13F 20'547'795 0.45 362'081 30.06.2012 Investment Advisor
ALLIANCEBERNSTEIN LP ALLIANCEBERNSTEIN LP 13F 19'026'812 0.41 4'858'491 30.06.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
JPMorgan KATHERINE LUCAS MINYARD neutral 3 M 97 12 month 23.10.2012
Raymond James PAVEL MOLCHANOV outperform 5 M 96 12 month 19.10.2012
Oppenheimer & Co FADEL GHEIT outperform 5 M 100 18 month 19.10.2012
Societe Generale JOHN HERRLIN buy 5 M 103 12 month 18.10.2012
Barclays PAUL Y CHENG equalweight 3 M 93 Not Provided 18.10.2012
Goldman Sachs ARJUN N MURTI buy/attractive 5 M 104 6 month 17.10.2012
Argus Research Corp PHILIP H WEISS hold 3 M #N/A N/A Not Provided 17.10.2012
Edward Jones BRIAN YOUNGBERG hold 3 M #N/A N/A Not Provided 17.10.2012
Howard Weil Inc BLAKE FERNANDEZ market perform 3 M 92 12 month 17.10.2012
ISI Group DOUGLAS T TERRESON buy 5 M 95 12 month 17.10.2012
S&P Capital IQ MICHAEL KAY strong buy 5 M 103 Not Provided 17.10.2012
Tudor Pickering & Co ROBERT KESSLER hold 3 M 81 Not Provided 16.10.2012
Jefferies IAIN REID hold 3 M 85 12 month 15.10.2012
Credit Suisse EDWARD WESTLAKE neutral 3 M 90 Not Provided 12.10.2012
Deutsche Bank PAUL SANKEY hold 3 M 96 12 month 10.10.2012
Dahlman Rose & Co ASIT SEN buy 5 N 100 Not Provided 10.10.2012
Macquarie JASON D GAMMEL outperform 5 M 97 12 month 03.10.2012
VTB Capital COLIN SMITH hold 3 N 90 12 month 27.09.2012
National Bank AG MANFRED JAISFELD buy 5 M 100 Not Provided 21.09.2012
Daiwa Securities Co. Ltd. HIROKAZU KABEYA neutral 3 M 86 Not Provided 21.08.2012
Independent Research GmbH SVEN DIERMEIER hold 3 M 90 12 month 06.08.2012
Morgan Stanley J EVAN CALIO Equalwt/Attractive 3 M 90 12 month 26.07.2012
Phoenix Partners Group CHRIS KETTENMANN hold 3 N 77 Not Provided 24.07.2012
Ameriprise Advisor Services, Inc LEZE THAQI buy 5 M #N/A N/A Not Provided 17.02.2012
EVA Dimensions TEAM COVERAGE buy 5 M #N/A N/A Not Provided 18.11.2011
Simmons & Company International JEFFREY A DIETERT overweight 5 M #N/A N/A Not Provided 10.06.2011
Holdings By:
Exxon Mobil Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
PetroChina Company Limited explores, develops, and produces crude oil and
natural gas. The Company also refines, transports, and distributes crude oil
and petroleum products, produces and sells chemicals, and transmits, markets
and sells natural gas.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (27.02.2012) 10.74
52-Week Low (26.09.2012) 8.47
Daily Volume
8.84
52-Week High % Change -17.69% Dividend Yield -
52-Week Low % Change 4.37% Beta 0.70
% 52 Week Price Range High/Low 16.30% Equity Float 3'184.45
Shares Out 30.06.2012 161'922.1 Short Int -
1'613'048.75 1 Yr Total Return -6.86%
Total Debt 318'002.00 YTD Return -6.00%
Preferred Stock 0.0 Adjusted BETA 0.702
Minority Interest 79'801.0 Analyst Recs 14
Cash and Equivalents 61'590.00 Consensus Rating 4.357
Enterprise Value 2'047'146.78
Average Volume 5 Day 19'925'350
601857 CH EQUITY YTD Change - Average Volume 30 Day 12'340'740
601857 CH EQUITY YTD % CHANGE - Average Volume 3 Month 10'653'790
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
836'353.0 1'072'604.0 1'019'275.0 1'465'415.0 2'003'843.0 ######### ######### ######### ######### 539'863.0 -
6.35x 1.78x 2.57x 1.54x 0.88x 5.01x 3.89x - - - -
269'727.0 256'680.0 237'168.0 303'643.0 323'368.0 167'207.0 243'216.0 325'938.0 358'229.0 - -
19.70x 7.45x 11.04x 7.43x 5.48x 0.00x 0.00x 6.28x 5.71x - -
146'750.0 114'453.0 103'387.0 139'992.0 132'961.0 140'667.0 129'012.0 124'337.0 140'246.5 21'492.0 -
15.86x 9.49x 14.65x 11.33x 10.74x 12.30x 11.62x 12.23x 11.23x - -
EBITDA 323'368.00 Long-Term Rating Date -
EBIT 185'295.00 Long-Term Rating -
Operating Margin 9.25% Long-Term Outlook -
Pretax Margin 9.19% Short-Term Rating Date -
Return on Assets 6.68% Short-Term Rating -
Return on Common Equity 12.81%
Return on Capital - EBITDA/Interest Exp. 27.94
Asset Turnover 1.05% (EBITDA-Capex)/Interest Exp. 4.79
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin 9.1% Total Debt/Equity 31.7%
Net Income Margin 6.6% Total Debt/Capital 22.7%
Asset Turnover 1.05
Current Ratio 0.68 Net Fixed Asset Turnover 1.49
Quick Ratio 0.23 Accounts receivable turnover-days 13.22
Debt to Assets 16.58% Inventory Days -
Tot Debt to Common Equity 31.71% Accounts Payable Turnover Day -
Accounts Receivable Turnover 27.70 Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
PetroChina Co LtdPrice/Volume
Valuation Analysis
8'018'018.00
Current Price (10/dd/yy) Market Data
-
/
1
3
5
.-
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.-'- G
/-'- G
0-'- G
1-'- G
2-'- G
3-'- G
4-'- G
5-'- G
0.0
500'000.0
1'000'000.0
1'500'000.0
2'000'000.0
2'500'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-'--
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1'--
3'--
5'--
.-'--
./'--
-/'-.'/--6 -/'-4'/--6 -/'-.'/-.- -/'-4'/-.- -/'-.'/-.. -/'-4'/-.. -/'-.'/-./ -/'-4'/-./
FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CHINA NATIONAL PETRO n/a EXCH 158'271'705'094 97.75 - 24.05.2012 Government
SOCIAL SECURITY FUND n/a Co File 400'000'000 0.25 - 31.12.2011 Pension Fund (ERISA)
CHINA LIFE INSURANCE n/a Co File 126'623'555 0.08 - 31.12.2011 Government
CHINA ASSET MANAGEME Multiple Portfolios MF-AGG 52'350'919 0.03 3'854'084 31.12.2011 Investment Advisor
CHINA UNIVERSAL ASSE Multiple Portfolios MF-AGG 45'440'035 0.03 - 31.12.2011 Investment Advisor
GUANGXI INVESTMENT G n/a Co File 39'560'045 0.02 - 31.12.2011 Corporation
E FUND MANAGEMENT Multiple Portfolios MF-AGG 31'446'927 0.02 (6'337'900) 31.12.2011 Investment Advisor
YINHUA FUND MANAGEME Multiple Portfolios MF-AGG 30'038'372 0.02 1'305'841 31.12.2011 Investment Advisor
LIANG NENG CONSTRUCT n/a Co File 26'363'816 0.02 - 31.12.2011 n/a
HARVEST FUND MANAGEM Multiple Portfolios MF-AGG 23'752'009 0.01 (670'205) 31.12.2011 Investment Advisor
FORTUNE SGAM FUND MA Multiple Portfolios MF-AGG 18'131'324 0.01 (12'491'248) 31.12.2011 Investment Advisor
LION FUND MANAGEMENT Multiple Portfolios MF-AGG 17'425'977 0.01 1'989'241 31.12.2011 Investment Advisor
CHANGSHENG FUND MANA Multiple Portfolios MF-AGG 16'595'170 0.01 15'430'143 31.12.2011 Investment Advisor
BANK OF COMMUNICATIO Multiple Portfolios MF-AGG 14'180'934 0.01 8'504'272 31.12.2011 Investment Advisor
HUAAN FUND MANAGEMEN Multiple Portfolios MF-AGG 14'163'101 0.01 3'529'163 31.12.2011 Investment Advisor
CSOP ASSET MANAGEMEN Multiple Portfolios MF-AGG 12'878'389 0.01 1'849'182 24.10.2012 Investment Advisor
GTJA ALLIANZ FUND MA Multiple Portfolios MF-AGG 10'736'012 0.01 (57'175) 31.12.2011 Investment Advisor
INVESCO GREAT WALL F Multiple Portfolios MF-AGG 10'015'534 0.01 10'015'534 31.12.2011 Investment Advisor
FULLGOAL FUND MANAGE Multiple Portfolios MF-AGG 8'761'200 0.01 848'763 31.12.2011 Investment Advisor
HUATAI-PINEBRIDGE FU Multiple Portfolios MF-AGG 8'722'647 0.01 678'944 31.12.2011 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Northeast Securities Co Ltd WEIGANG WANG buy 5 M #N/A N/A Not Provided 23.10.2012
Goldman Sachs ARTHUR YAN neutral/neutral 3 M 10 12 month 17.10.2012
Bank of China International LAWRENCE LAU buy 5 M 11 Not Provided 17.10.2012
Citic Securities Co., Ltd HUANG LILI overweight 5 D 12 6 month 10.09.2012
HSBC THOMAS C HILBOLDT neutral 3 D 10 Not Provided 24.08.2012
Masterlink Securities LI XIN hold 3 M 10 Not Provided 26.07.2012
SWS Research Co Ltd KAISHENG LIN outperform 5 M #N/A N/A Not Provided 23.07.2012
Guodu Securities Co Ltd WANG SHUANG buy 5 M #N/A N/A Not Provided 11.06.2012
Capital Securities Corp TEAM COVERAGE buy 5 M #N/A N/A Not Provided 10.05.2012
China International Capital Corp BIN GUAN hold 3 M #N/A N/A Not Provided 27.04.2012
Hong Yuan Securities ZU GUANGPING add 4 M 9 6 month 29.03.2012
China Minzu Securities Co Ltd QI QIUSHI buy 5 M 8 6 month 01.03.2012
PingAn Securities DU ZHIQIANG buy 5 M #N/A N/A Not Provided 18.11.2011
Jefferies LABAN YU buy 5 N 16 12 month 25.05.2011
China Investment Securities RUI DINGKUN buy 5 M #N/A N/A Not Provided 07.04.2011
China Securities Co., Ltd LIANG BIN neutral 3 N 11 Not Provided 08.12.2010
China Galaxy Securities LI GUOHONG buy 5 M #N/A N/A Not Provided 08.06.2010
Everbright Securities Co., Ltd CHENG LEI buy 5 U #N/A N/A Not Provided 28.04.2010
Industrial Securities ZHENG FANGBIAO buy 5 M #N/A N/A Not Provided 22.03.2010
Holdings By:
PetroChina Co Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Chevron Corporation is an integrated energy company with operations in countries
located around the world. The Company produces and transports crude oil and
natural gas. Chevron also refines, markets, and distributes fuels as well as
is involved in chemical operations, mining operations, power generation and
energy services.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (21.09.2012) 118.53
52-Week Low (25.11.2011) 92.29
Daily Volume
109.38
52-Week High % Change -7.72% Dividend Yield 3.02
52-Week Low % Change 18.52% Beta 1.07
% 52 Week Price Range High/Low 65.13% Equity Float 1'961.57
Shares Out 30.06.2012 1'962.1 Short Int 18.68
214'618.88 1 Yr Total Return 6.34%
Total Debt 10'152.00 YTD Return 5.36%
Preferred Stock 0.0 Adjusted BETA 1.068
Minority Interest 799.0 Analyst Recs 29
Cash and Equivalents 16'113.00 Consensus Rating 4.276
Enterprise Value 204'686.87
Average Volume 5 Day 6'274'172
CVX US EQUITY YTD Change - Average Volume 30 Day 6'567'471
CVX US EQUITY YTD % CHANGE - Average Volume 3 Month 5'889'587
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
203'970.0 255'112.0 159'293.0 189'607.0 236'286.0 216'773.0 230'561.0 241'745.6 237'966.8 55'289.0 56'423.7
0.95x 0.58x 0.99x 0.96x 0.87x 3.53x 3.41x 0.86x 0.89x 3.72x 3.67x
34'335.0 44'538.0 26'432.0 38'438.0 51'210.0 45'659.0 50'980.0 57'550.5 55'389.4 13'889.2 14'475.0
5.66x 3.32x 5.94x 4.71x 4.02x 4.48x 3.87x 3.56x 3.70x 3.66x 3.64x
18'688.0 23'931.0 10'483.0 19'024.0 26'895.0 23'006.0 26'633.0 25'276.6 24'287.4 5'942.8 6'036.8
10.64x 6.50x 13.53x 9.76x 7.92x 9.08x 8.11x 8.57x 8.77x 8.99x 8.75x
EBITDA 51'210.00 Long-Term Rating Date 01.07.1987
EBIT 38'299.00 Long-Term Rating AA
Operating Margin 16.21% Long-Term Outlook STABLE
Pretax Margin 20.16% Short-Term Rating Date 01.07.1987
Return on Assets 12.65% Short-Term Rating A-1+
Return on Common Equity 21.68%
Return on Capital - EBITDA/Interest Exp. 177.81
Asset Turnover 1.10% (EBITDA-Capex)/Interest Exp. 85.80
Net Debt/EBITDA -0.22
Gross Margin 18.7% Total Debt/EBITDA 0.20
EBITDA Margin 22.1%
EBIT Margin 16.5% Total Debt/Equity 8.4%
Net Income Margin 11.4% Total Debt/Capital 7.7%
Asset Turnover 1.10
Current Ratio 1.58 Net Fixed Asset Turnover 1.89
Quick Ratio 1.13 Accounts receivable turnover-days 35.18
Debt to Assets 4.85% Inventory Days 14.10
Tot Debt to Common Equity 8.36% Accounts Payable Turnover Day 43.61
Accounts Receivable Turnover 10.40 Cash Conversion Cycle 4.01
Inventory Turnover 25.95
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Chevron CorpPrice/Volume
Valuation Analysis
8'011'680.00
Current Price (10/dd/yy) Market Data
-
/-
1-
3-
5-
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./-
.1-
l&.. k&.. a&.. g&./ c&./ j&./ W&./ j&./ g&./ g&./ W&./ p&./ l&./'- G
2'- G
.-'- G
.2'- G
/-'- G
/2'- G
0-'- G
0.0
50'000.0
100'000.0
150'000.0
200'000.0
250'000.0
300'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-'--
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
STATE STREET CORP STATE STREET CORPORA 13F 100'527'536 5.12 170'995 30.06.2012 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 91'072'158 4.64 1'939'185 30.06.2012 Investment Advisor
CAPITAL WORLD INVEST CAPITAL WORLD INVEST 13F 59'275'793 3.02 (1'835'000) 30.06.2012 Investment Advisor
BLACKROCK INSTITUTIO BLACKROCK INSTITUTIO 13F 53'707'232 2.74 1'768'517 30.06.2012 Investment Advisor
FIDELITY MANAGEMENT FIDELITY MANAGEMENT 13F 40'158'943 2.05 (3'895'200) 30.06.2012 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 36'327'383 1.85 327'036 30.06.2012 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 29'753'783 1.52 2'411'636 30.06.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 28'041'682 1.43 (67'674) 30.09.2012 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 26'015'538 1.33 (120'112) 30.06.2012 Investment Advisor
CAPITAL RESEARCH GLO CAPITAL RESEARCH GLO 13F 20'686'111 1.05 4'411'000 30.06.2012 Investment Advisor
BLACKROCK FUND ADVIS BLACKROCK FUND ADVIS 13F 19'089'877 0.97 (404'282) 30.06.2012 Investment Advisor
JP MORGAN CHASE & CO JP MORGAN CHASE & CO 13F 18'994'703 0.97 (231'458) 30.06.2012 Investment Advisor
BLACKROCK GROUP LIMI BLACKROCK GROUP LIMI 13F 17'827'479 0.91 (3'090'414) 30.06.2012 Investment Advisor
STATE FARM MUTUAL AU STATE FARM MUTUAL AU 13F 16'281'400 0.83 - 30.06.2012 Insurance Company
BANK OF AMERICA CORP BANK OF AMERICA 13F 16'156'576 0.82 182'072 30.06.2012 Investment Advisor
NORGES BANK NORGES BANK 13F 14'238'825 0.73 14'238'825 31.12.2011 Government
BLACKROCK ADVISERS BLACKROCK ADVISORS L 13F 14'112'123 0.72 516'168 30.06.2012 Investment Advisor
GEODE CAPITAL MANAGE GEODE CAPITAL MANAGE 13F 14'083'947 0.72 351'361 30.06.2012 Investment Advisor
INVESCO LTD INVESCO LTD 13F 13'105'358 0.67 2'985'530 30.06.2012 Investment Advisor
AMERIPRISE FINANCIAL AMERIPRISE FINANCIAL 13F 11'946'364 0.61 166'652 30.06.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
JPMorgan KATHERINE LUCAS MINYARD neutral 3 M 123 12 month 23.10.2012
Oppenheimer & Co FADEL GHEIT outperform 5 M 130 18 month 19.10.2012
Goldman Sachs ARJUN N MURTI neutral/attractive 3 M 132 6 month 17.10.2012
ISI Group DOUGLAS T TERRESON buy 5 M 120 12 month 17.10.2012
Independent Research GmbH SVEN DIERMEIER hold 3 M 115 12 month 16.10.2012
Tudor Pickering & Co ROBERT KESSLER hold 3 M 126 Not Provided 16.10.2012
Jefferies IAIN REID buy 5 M 125 12 month 15.10.2012
Societe Generale JOHN HERRLIN buy 5 M 130 12 month 12.10.2012
Credit Suisse EDWARD WESTLAKE outperform 5 M 135 Not Provided 12.10.2012
Argus Research Corp PHILIP H WEISS buy 5 M 130 Not Provided 11.10.2012
Raymond James PAVEL MOLCHANOV outperform 5 M 122 12 month 11.10.2012
Macquarie JASON D GAMMEL outperform 5 M 123 12 month 11.10.2012
Deutsche Bank PAUL SANKEY buy 5 M 140 12 month 10.10.2012
Morgan Stanley J EVAN CALIO Overwt/Attractive 5 M 120 12 month 10.10.2012
Howard Weil Inc BLAKE FERNANDEZ market outperform 4 M 139 12 month 10.10.2012
S&P Capital IQ MICHAEL KAY strong buy 5 M #N/A N/A Not Provided 10.10.2012
Dahlman Rose & Co ASIT SEN hold 3 N #N/A N/A Not Provided 10.10.2012
Barclays PAUL Y CHENG overweight 5 M 133 Not Provided 10.10.2012
Edward Jones BRIAN YOUNGBERG buy 5 M #N/A N/A Not Provided 09.10.2012
VTB Capital COLIN SMITH hold 3 N 120 12 month 27.09.2012
Daiwa Securities Co. Ltd. HIROKAZU KABEYA outperform 5 M 120 Not Provided 21.08.2012
Phoenix Partners Group CHRIS KETTENMANN sell 1 N 83 Not Provided 24.07.2012
Oracle Investment Research LAURENCE BALTER buy 5 M 120 Not Provided 12.06.2012
Ameriprise Advisor Services, Inc LEZE THAQI buy 5 M #N/A N/A Not Provided 15.02.2012
Cia de Professionales de Bolsa JAMIL HALLASSOU HOLGUIN hold 3 M 110 12 month 24.01.2012
EVA Dimensions TEAM COVERAGE buy 5 M #N/A N/A Not Provided 18.11.2011
Simmons & Company International JEFFREY A DIETERT overweight 5 M #N/A N/A Not Provided 01.08.2011
Holdings By:
Chevron Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
BP plc is an oil and petrochemicals company. The Company explores for and
produces oil and natural gas, refines, markets, and supplies petroleum
products, generates solar energy, and manufactures and markets chemicals. BP's
chemicals include terephthalic acid, acetic acid, acrylonitrile, ethylene and
polyethylene.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (05.03.2012) 512.00
52-Week Low (18.05.2012) 389.50
Daily Volume
434.6
52-Week High % Change -15.12% Dividend Yield 4.46
52-Week Low % Change 11.58% Beta 1.03
% 52 Week Price Range High/Low 35.71% Equity Float 19'052.18
Shares Out 22.10.2012 19'055.1 Short Int -
82'813.27 1 Yr Total Return 3.66%
Total Debt 44'213.00 YTD Return -2.35%
Preferred Stock 21.0 Adjusted BETA 1.027
Minority Interest 1'017.0 Analyst Recs 32
Cash and Equivalents 14'599.00 Consensus Rating 3.875
Enterprise Value 165'901.77
Average Volume 5 Day 40'480'180
BP/ LN EQUITY YTD Change - Average Volume 30 Day 27'717'780
BP/ LN EQUITY YTD % CHANGE - Average Volume 3 Month 24'689'460
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
284'365.0 361'143.0 239'272.0 297'107.0 375'517.0 337'004.0 376'205.0 351'101.8 352'981.1 73'196.5 73'059.5
0.91x 0.47x 0.87x 0.53x 0.44x 1.90x 1.71x 0.47x 0.45x 2.28x 2.26x
37'544.0 41'761.0 33'392.0 38'497.0 38'196.0 41'315.0 29'625.0 39'597.6 42'688.8 10'516.3 11'296.5
6.90x 4.05x 6.24x 4.06x 4.35x 4.04x 5.38x 4.19x 3.89x 3.70x 3.58x
20'845.0 21'157.0 16'578.0 (3'719.0) 25'700.0 20'324.0 17'356.0 17'786.5 19'607.9 4'105.9 4'696.2
11.21x 6.81x 10.95x - 5.25x 6.83x 7.23x 7.52x 6.91x 7.24x 6.96x
EBITDA 38'196.00 Long-Term Rating Date 24.09.2010
EBIT 27'061.00 Long-Term Rating A
Operating Margin 7.21% Long-Term Outlook POS
Pretax Margin 10.34% Short-Term Rating Date 24.09.2010
Return on Assets 5.95% Short-Term Rating A-1
Return on Common Equity 15.80%
Return on Capital 11.72% EBITDA/Interest Exp. 23.98
Asset Turnover 1.29% (EBITDA-Capex)/Interest Exp. 12.78
Net Debt/EBITDA 1.09
Gross Margin 16.5% Total Debt/EBITDA 1.61
EBITDA Margin 7.9%
EBIT Margin 4.9% Total Debt/Equity 39.7%
Net Income Margin 6.8% Total Debt/Capital 28.2%
Asset Turnover 1.29
Current Ratio 1.13 Net Fixed Asset Turnover 3.27
Quick Ratio 0.50 Accounts receivable turnover-days -
Debt to Assets 15.09% Inventory Days 30.58
Tot Debt to Common Equity 39.67% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle 22.12
Inventory Turnover 11.97
Fiscal Year Ended
BP PLCPrice/Volume
Valuation Analysis
9'108'272.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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100'000.0
150'000.0
200'000.0
250'000.0
300'000.0
350'000.0
400'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
LEGAL & GENERAL INV Multiple Portfolios REG 696'265'651 3.65 (24'802'335) 01.08.2012 Investment Advisor
CAPITAL GROUP COMPAN n/a RNS-MAJ 609'649'091 3.2 - 01.09.2012 Investment Advisor
CAPITAL RESEARCH AND Multiple Portfolios REG 593'016'326 3.11 31'583'434 01.08.2012 Investment Advisor
CAPITAL RESEARCH GLO Multiple Portfolios MF-AGG 483'842'665 2.54 23'687'937 30.09.2012 Investment Advisor
BLACKROCK INV MANAGE Multiple Portfolios REG 478'644'956 2.51 (65'267'858) 01.08.2012 Investment Advisor
NORGES BANK INVESTME Multiple Portfolios REG 427'782'709 2.24 8'154'405 01.08.2012 Government
SCOTTISH WIDOWS INVE Multiple Portfolios REG 351'155'655 1.84 (50'067'578) 01.08.2012 Investment Advisor
KUWAIT INVESTMENT AU Multiple Portfolios REG 328'143'792 1.72 - 01.08.2012 Government
M&G INVESTMENT MANAG Multiple Portfolios REG 321'791'956 1.69 (1'560'565) 01.08.2012 Investment Advisor
PEOPLES REPUBLIC OF Multiple Portfolios REG 258'130'496 1.35 - 01.08.2012 Government
STANDARD LIFE INVEST Multiple Portfolios REG 252'489'400 1.33 (15'394'337) 01.08.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 226'450'073 1.19 11'192'747 30.06.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios REG 188'045'023 0.99 18'974'806 01.08.2012 Investment Advisor
FRANKLIN RESOURCES I Multiple Portfolios REG 187'875'430 0.99 1'869'460 01.08.2012 Investment Advisor
FIDELITY INVESTMENTS Multiple Portfolios REG 184'115'571 0.97 10'823'197 01.08.2012 Investment Advisor
UBS GLOBAL ASSET MGM Multiple Portfolios REG 180'742'491 0.95 (1'465'315) 01.08.2012 Investment Advisor
AVIVA INVESTORS Multiple Portfolios REG 171'088'918 0.9 4'250'881 01.08.2012 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios REG 157'820'711 0.83 13'421'455 01.08.2012 Investment Advisor
GOVT OF SINGAPORE IN Multiple Portfolios REG 154'353'562 0.81 12'533'618 01.08.2012 Government
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 153'440'896 0.81 (3'302'926) 22.10.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Nomura THEEPAN JOTHILINGAM neutral 3 M 455 12 month 24.10.2012
Liberum Capital Ltd ANDREW WHITTOCK hold 3 M 460 Not Provided 24.10.2012
Barclays RAHIM KARIM underweight 1 M 510 Not Provided 24.10.2012
Grupo Santander JASON KENNEY hold 3 M 500 Not Provided 23.10.2012
Societe Generale IRENE HIMONA hold 3 M 465 12 month 23.10.2012
RBC Capital Markets PETER HUTTON outperform 5 M 530 12 month 23.10.2012
Credit Suisse KIM FUSTIER outperform 5 M 490 Not Provided 23.10.2012
Jefferies IAIN REID hold 3 M 450 12 month 23.10.2012
Independent Research GmbH SVEN DIERMEIER hold 3 M 500 12 month 23.10.2012
Oriel Securities Ltd RICHARD GRIFFITH hold 3 M #N/A N/A Not Provided 23.10.2012
Exane BNP Paribas CHARLES RIOU neutral 3 M 500 Not Provided 23.10.2012
Investec STUART JOYNER buy 5 M 460 12 month 22.10.2012
Sanford C. Bernstein & Co OSWALD CLINT market perform 3 M 530 12 month 22.10.2012
Macquarie JASON D GAMMEL outperform 5 M 570 12 month 22.10.2012
Canaccord Genuity Corp GORDON GRAY buy 5 M 500 12 month 22.10.2012
Deutsche Bank LUCAS HERRMANN buy 5 M 500 12 month 19.10.2012
AlphaValue ALEXANDRE ANDLAUER reduce 2 M 411 6 month 18.10.2012
Tudor Pickering & Co ROBERT KESSLER accumulate 4 M 500 Not Provided 15.10.2012
JPMorgan FREDERICK G LUCAS overweight 5 M 550 6 month 02.10.2012
VTB Capital COLIN SMITH hold 3 N 490 12 month 27.09.2012
Jyske Bank ROBERT JAKOBSEN buy 5 M 520 Not Provided 19.09.2012
CA Cheuvreux DOMINIQUE PATRY outperform 5 M 500 Not Provided 10.08.2012
Day by Day VALERIE GASTALDY buy 5 M 500 3 month 10.08.2012
HSBC PAUL SPEDDING overweight 5 M 550 Not Provided 02.08.2012
Natixis ANNE PUMIR neutral 3 M 481 Not Provided 01.08.2012
S&P Capital IQ CHRISTINE TISCARENO hold 3 M 595 12 month 31.07.2012
Goldman Sachs MICHELE DELLA VIGNA not rated #N/A N/A M #N/A N/A Not Provided 08.06.2012
EVA Dimensions TEAM COVERAGE overweight 5 D #N/A N/A Not Provided 02.06.2012
Morgan Stanley MARTIJN P RATS restricted #N/A N/A M #N/A N/A Not Provided 01.06.2012
Landesbank Baden-Wuerttemberg ACHIM WITTMANN hold 3 M 460 Not Provided 07.05.2012
Kepler Capital Markets BERTRAND HODEE buy 5 M 602 Not Provided 16.04.2012
CS Capital CHRISTOPHER PARKINSON buy 5 M 500 Not Provided 15.08.2011
Simmons & Company International JEFFREY A DIETERT overweight 5 M #N/A N/A Not Provided 01.08.2011
National Bank AG MANFRED JAISFELD buy 5 M 700 Not Provided 14.04.2010
Holdings By:
BP PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Ecopetrol SA is an integrated oil company. The Company owns interests in oil
producing fields in the central area, south, west and north of Colombia as well
as refineries, ports for fuel exports and imports on both coasts and the
transportation network of pipelines and polyducts throughout the Colombian
territory.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (02.05.2012) 5'930.00
52-Week Low (23.11.2011) 3'824.52
Daily Volume
5690
52-Week High % Change -4.05% Dividend Yield -
52-Week Low % Change 48.78% Beta 0.93
% 52 Week Price Range High/Low 88.60% Equity Float 4'731.91
Shares Out 30.06.2012 41'116.7 Short Int -
233'954'016.00 1 Yr Total Return 49.84%
Total Debt 8'801'572.00 YTD Return 42.55%
Preferred Stock 0.0 Adjusted BETA 0.928
Minority Interest 2'252'631.0 Analyst Recs 15
Cash and Equivalents 8'117'539.00 Consensus Rating 2.467
Enterprise Value 240'716'663.24
Average Volume 5 Day 5'967'546
ECOPETL CB EQUITY YTD Change - Average Volume 30 Day 6'196'646
ECOPETL CB EQUITY YTD % CHANGE - Average Volume 3 Month 6'467'682
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
22'332'320.0 33'896'669.0 30'404'390.0 41'968'311.0 65'752'268.0 ######### ######### ######### ######### ######### #########
3.23x 2.24x 3.41x 4.08x 2.68x 12.30x 11.06x - - - -
9'555'212.0 14'155'420.0 11'265'800.0 17'103'936.0 31'056'068.0 ######### ######### ######### ######### ######### -
7.54x 5.36x 9.20x 10.01x 5.68x 6.82x 6.43x 7.83x 6.82x - -
5'179'792.0 11'629'677.0 5'132'054.0 8'146'471.0 15'452'334.0 ######### ######### ######### ######### ######### -
15.78x 6.98x 19.60x 20.37x 11.22x 13.77x 12.30x 14.03x 12.41x 8.93x -
EBITDA 31'056'068.00 Long-Term Rating Date 18.03.2011
EBIT 25'690'963.00 Long-Term Rating BBB-
Operating Margin 39.07% Long-Term Outlook POS
Pretax Margin 35.96% Short-Term Rating Date -
Return on Assets 18.72% Short-Term Rating -
Return on Common Equity 35.94%
Return on Capital - EBITDA/Interest Exp. 74.79
Asset Turnover 0.79% (EBITDA-Capex)/Interest Exp. 50.25
Net Debt/EBITDA 0.13
Gross Margin 44.2% Total Debt/EBITDA 0.33
EBITDA Margin 47.3%
EBIT Margin 39.8% Total Debt/Equity 16.1%
Net Income Margin 23.5% Total Debt/Capital 13.4%
Asset Turnover 0.79
Current Ratio 1.21 Net Fixed Asset Turnover 2.42
Quick Ratio 0.81 Accounts receivable turnover-days 22.02
Debt to Assets 9.54% Inventory Days 25.74
Tot Debt to Common Equity 16.09% Accounts Payable Turnover Day 104.84
Accounts Receivable Turnover 16.62 Cash Conversion Cycle 3.76
Inventory Turnover 14.22
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Ecopetrol SAPrice/Volume
Valuation Analysis
3'415'413.00
Current Price (10/dd/yy) Market Data
-
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2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
REPUBLIC OF COLOMBIA n/a 20F 36'384'788'817 88.49 - 31.03.2012 Government
BLACKROCK INSTITUTIO Multiple Portfolios MF-AGG 65'486'940 0.16 346'356 22.10.2012 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 51'772'416 0.13 - 22.10.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 43'966'630 0.11 835'781 30.09.2012 Investment Advisor
WILLIAM BLAIR & COMP WILLIAM BLAIR & COMP 13F 43'834'268 0.11 (1'708'948) 30.06.2012 Investment Advisor
HARRIS TRUST & SAVIN Multiple Portfolios MF-AGG 28'847'800 0.07 5'116'700 29.06.2012 Unclassified
PICTET & CIE Multiple Portfolios MF-AGG 24'957'813 0.06 2'980'482 31.07.2012 Mutual Fund Manager
FIDELITY MANAGEMENT Multiple Portfolios MF-AGG 17'036'618 0.04 (35'105) 31.08.2012 Investment Advisor
GARTMORE INVESTMENT Multiple Portfolios MF-AGG 9'515'827 0.02 (226'000) 31.08.2012 Investment Advisor
SEB FONDFORVALTNING Multiple Portfolios MF-AGG 5'205'204 0.01 354'283 30.06.2012 Mutual Fund Manager
EATON VANCE MANAGEME Multiple Portfolios MF-AGG 4'612'890 0.01 - 31.08.2012 Investment Advisor
NORTHERN TRUST CORPO Multiple Portfolios MF-AGG 3'969'954 0.01 595'757 30.09.2012 Investment Advisor
WILLIAM BLAIR & CO L Multiple Portfolios MF-AGG 3'166'649 0.01 219'135 28.09.2012 Investment Advisor
TIAA CREF INVESTMENT Multiple Portfolios MF-AGG 2'019'807 0 15'298 31.08.2012 Investment Advisor
NORD EST ASSET MANAG Multiple Portfolios MF-AGG 1'618'600 0 - 31.08.2012 Mutual Fund Manager
EATON VANCE ADVISORS Multiple Portfolios MF-AGG 1'366'617 0 71'500 31.08.2012 Investment Advisor
PYRAMIS GLOBAL ADVIS Multiple Portfolios MF-AGG 1'210'279 0 (41'111) 31.03.2012 Investment Advisor
PICTET ASSET MANAGEM Multiple Portfolios MF-AGG 1'185'600 0 9'200 31.07.2012 Investment Advisor
PRUDENTIAL FINANCIAL Multiple Portfolios MF-AGG 1'167'200 0 68'900 31.08.2012 Investment Advisor
CHARLES SCHWAB INVES Multiple Portfolios MF-AGG 765'675 0 765'675 31.07.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
JPMorgan CAIO M CARVALHAL underweight 1 M 4'620 12 month 24.10.2012
Correval SA CESAR CUERVO hold 3 M #N/A N/A Not Provided 22.10.2012
Asesores en Valores SA OMAR ESCORCIA sell 1 M 5'710 Not Provided 19.10.2012
Goldman Sachs FELIPE MATTAR neutral/neutral 3 M 5'200 6 month 17.10.2012
Interbolsa SA JUAN DAVID PINEROS hold 3 M 5'030 Not Provided 17.10.2012
VTB Capital COLIN SMITH sell 1 N 5'000 12 month 27.09.2012
EVA Dimensions TEAM COVERAGE buy 5 U #N/A N/A Not Provided 09.08.2012
Acciones y Valores JORGE EDUARDO BELLO hold 3 M 5'460 Not Provided 01.08.2012
Ultrabursatiles DIEGO USME ROMERO sell 1 M 5'060 Not Provided 31.07.2012
Alianza Valores JUAN DAVID BALLEN RAMIREZ maintain 3 M 5'183 12 month 31.07.2012
Grupo Santander CHRISTIAN AUDI buy 5 M 6'560 Not Provided 30.07.2012
Larrain Vial Corredores de Bolsa JUAN CARLOS DELGADO MALCA sell 1 M 5'400 Not Provided 25.07.2012
Davivalores SA EDGAR ROMERO GARCIA no rating system #N/A N/A M 4'800 Not Provided 25.07.2012
Valores Bancolombia SAMUEL DAVID GARCIA no rating system #N/A N/A M 5'070 Not Provided 25.07.2012
Bolsa y Renta S.A. MAURICIO RESTREPO DEL TORO sell 1 M 5'000 Not Provided 24.07.2012
Corredores Asociados MAURICIO HERNANDEZ hold 3 M 4'930 Not Provided 18.07.2012
Itau BBA Securities PAULA KOVARSKY market perform 3 M 4'500 Not Provided 05.05.2011
Holdings By:
Ecopetrol SA ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Royal Dutch Shell PLC, through subsidiaries, explores for, produces, and
refines petroleum. The Company produces fuels, chemicals, and lubricants.
Shell owns and operates gasoline filling stations worldwide.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (10.01.2012) 2'409.50
52-Week Low (18.05.2012) 1'956.50
Daily Volume
2122
52-Week High % Change -11.93% Dividend Yield 5.00
52-Week Low % Change 8.46% Beta 1.00
% 52 Week Price Range High/Low 34.55% Equity Float 3'736.84
Shares Out 23.10.2012 3'738.1 Short Int -
137'024.50 1 Yr Total Return -0.58%
Total Debt 37'175.00 YTD Return -7.14%
Preferred Stock 0.0 Adjusted BETA 0.995
Minority Interest 1'486.0 Analyst Recs 27
Cash and Equivalents 11'292.00 Consensus Rating 3.852
Enterprise Value 236'499.52
Average Volume 5 Day 2'786'214
RDSA LN EQUITY YTD Change - Average Volume 30 Day 2'708'340
RDSA LN EQUITY YTD % CHANGE - Average Volume 3 Month 2'651'479
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
355'782.0 458'361.0 278'188.0 368'056.0 470'171.0 422'610.0 475'975.0 467'282.2 455'749.2 128'516.5 127'794.5
0.77x 0.37x 0.76x 0.65x 0.55x 2.29x 2.01x 0.52x 0.52x 1.85x 1.86x
53'932.0 57'301.0 29'079.0 41'839.0 55'943.0 45'825.0 52'403.0 59'763.5 63'291.2 12'780.0 14'351.0
5.09x 2.98x 7.28x 5.69x 4.60x 5.45x 4.47x 3.96x 3.74x 3.85x 3.48x
31'331.0 26'277.0 12'518.0 20'127.0 30'918.0 27'695.0 26'258.0 26'684.2 28'362.2 6'382.4 7'141.0
8.37x 6.16x 14.87x 10.16x 7.39x 7.94x 8.00x 7.98x 7.55x 7.67x 7.41x
EBITDA 55'943.00 Long-Term Rating Date 03.09.2009
EBIT 42'715.00 Long-Term Rating AA
Operating Margin 9.08% Long-Term Outlook STABLE
Pretax Margin 11.84% Short-Term Rating Date 19.04.2004
Return on Assets 7.54% Short-Term Rating A-1+
Return on Common Equity 15.35%
Return on Capital 12.95% EBITDA/Interest Exp. 27.33
Asset Turnover 1.37% (EBITDA-Capex)/Interest Exp. 14.48
Net Debt/EBITDA 0.30
Gross Margin 15.7% Total Debt/EBITDA 0.63
EBITDA Margin 11.0%
EBIT Margin 8.1% Total Debt/Equity 21.9%
Net Income Margin 6.6% Total Debt/Capital 17.9%
Asset Turnover 1.37
Current Ratio 1.17 Net Fixed Asset Turnover 3.14
Quick Ratio 0.58 Accounts receivable turnover-days 56.40
Debt to Assets 10.77% Inventory Days 28.11
Tot Debt to Common Equity 21.93% Accounts Payable Turnover Day 70.85
Accounts Receivable Turnover 6.49 Cash Conversion Cycle 23.58
Inventory Turnover 13.02
Fiscal Year Ended
Royal Dutch Shell PLCPrice/Volume
Valuation Analysis
833'709.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
-
2--
.---
.2--
/---
/2--
l&.. k&.. a&.. g&./ c&./ j&./ W&./ j&./ g&./ g&./ W&./ p&./ l&./'- G/'- G1'- G3'- G5'- G.-'- G./'- G.1'- G.3'- G.5'- G/-'- G
0.0
50'000.0
100'000.0
150'000.0
200'000.0
250'000.0
300'000.0
350'000.0
400'000.0
450'000.0
500'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-'--
.'--
/'--
0'--
1'--
2'--
3'--
4'--
5'--
6'--
.-'--
-/'-.'/--6 -/'-4'/--6 -/'-.'/-.- -/'-4'/-.- -/'-.'/-.. -/'-4'/-.. -/'-.'/-./ -/'-4'/-./
FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
LEGAL & GENERAL INV Multiple Portfolios REG 146'391'199 3.92 1'987'795 01.09.2012 Investment Advisor
CAPITAL RESEARCH AND Multiple Portfolios REG 114'728'248 3.07 - 01.09.2012 Investment Advisor
BLACKROCK INV MANAGE Multiple Portfolios REG 79'672'958 2.13 (276'856) 01.09.2012 Investment Advisor
SCOTTISH WIDOWS INVE Multiple Portfolios REG 47'741'763 1.28 (2'566'666) 01.09.2012 Investment Advisor
PEOPLES REPUBLIC OF Multiple Portfolios REG 46'562'611 1.25 - 01.09.2012 Government
VANGUARD GROUP INC Multiple Portfolios MF-AGG 44'767'083 1.2 2'645'995 30.06.2012 Investment Advisor
GOVT OF SINGAPORE IN Multiple Portfolios REG 38'067'192 1.02 667'388 01.09.2012 Government
VANGUARD GROUP INC Multiple Portfolios REG 29'054'931 0.78 5'123'434 01.09.2012 Investment Advisor
MASSACHUSETTS FINANC Multiple Portfolios REG 26'758'182 0.72 8'356'439 01.09.2012 Investment Advisor
FRANKLIN RESOURCES I Multiple Portfolios MF-AGG 25'445'923 0.68 83'577 28.09.2012 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 24'413'006 0.65 179'362 31.03.2012 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 22'542'731 0.6 (186'892) 22.10.2012 Investment Advisor
BP INVESTMENT MANAGE Multiple Portfolios REG 22'111'200 0.59 1'367'293 01.09.2012 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios REG 21'850'380 0.58 1'099'355 01.09.2012 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 20'383'369 0.55 63'620 22.10.2012 Investment Advisor
UBS PRIVATE BANKING Multiple Portfolios REG 19'174'824 0.51 113'132 01.09.2012 Bank
NORTHERN TRUST GLOBA Multiple Portfolios REG 16'257'907 0.43 (53'412) 01.09.2012 Corporation
MASSACHUSETTS FINANC Multiple Portfolios MF-AGG 16'115'834 0.43 219'873 31.08.2012 Investment Advisor
STANDARD LIFE INVEST Multiple Portfolios REG 15'694'208 0.42 (4'068'105) 01.09.2012 Investment Advisor
CAPITAL GROUP COMPAN n/a RNS-MAJ 13'926'993 0.37 - 03.09.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Barclays RAHIM KARIM equalweight 3 M 2'650 Not Provided 24.10.2012
Canaccord Genuity Corp GORDON GRAY buy 5 M 2'680 12 month 18.10.2012
AlphaValue ALEXANDRE ANDLAUER reduce 2 M 2'001 6 month 18.10.2012
RBC Capital Markets PETER HUTTON sector perform 3 M 2'580 12 month 17.10.2012
Tudor Pickering & Co ROBERT KESSLER buy 5 M 2'700 Not Provided 16.10.2012
Credit Suisse KIM FUSTIER neutral 3 M 2'400 Not Provided 15.10.2012
Jefferies IAIN REID buy 5 M 2'450 12 month 15.10.2012
Sanford C. Bernstein & Co OSWALD CLINT market perform 3 M 2'410 12 month 12.10.2012
National Bank AG STEFFEN MANSKE buy 5 M 2'662 Not Provided 11.10.2012
Macquarie JASON D GAMMEL outperform 5 M 2'550 12 month 03.10.2012
JPMorgan FREDERICK G LUCAS neutral 3 M 2'500 6 month 02.10.2012
Theodoor Gilissen Securities JOS VERSTEEG buy 5 M 2'722 Not Provided 02.10.2012
VTB Capital COLIN SMITH hold 3 N 2'500 12 month 27.09.2012
Oriel Securities Ltd RICHARD GRIFFITH buy 5 M #N/A N/A Not Provided 17.09.2012
ING Wholesale Banking QUIRIJN MULDER buy 5 M 2'617 12 month 03.09.2012
CA Cheuvreux DOMINIQUE PATRY select list 5 M 2'549 Not Provided 10.08.2012
Day by Day VALERIE GASTALDY hold 3 M #N/A N/A Not Provided 10.08.2012
Landesbank Baden-Wuerttemberg ACHIM WITTMANN buy 5 M 2'580 Not Provided 03.08.2012
Independent Research GmbH SVEN DIERMEIER hold 3 M 2'271 12 month 26.07.2012
HSBC PAUL SPEDDING neutral 3 M 2'488 Not Provided 24.07.2012
Deutsche Bank LUCAS HERRMANN buy 5 M 2'475 12 month 03.07.2012
Investec STUART JOYNER sell 1 M 1'875 12 month 02.07.2012
Kepler Capital Markets BERTRAND HODEE hold 3 M 2'272 Not Provided 18.05.2012
Morgan Stanley MARTIJN P RATS not rated #N/A N/A M #N/A N/A Not Provided 03.05.2012
Hamburger Sparkasse INGO SCHMIDT buy 5 M #N/A N/A Not Provided 02.05.2012
S&P Capital IQ CHRISTINE TISCARENO hold 3 D 2'315 12 month 03.10.2011
Simmons & Company International JEFFREY A DIETERT overweight 5 M #N/A N/A Not Provided 01.08.2011
Holdings By:
Royal Dutch Shell PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Total SA explores for, produces, refines, transports, and markets oil and
natural gas. The Company also operates a chemical division which produces
polypropylene, polyethylene, polystyrene, rubber, paint, ink, adhesives, and
resins. Total operates gasoline filling stations in Europe, the United States,
and Africa.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (14.03.2012) 42.97
52-Week Low (01.06.2012) 33.42
Daily Volume
38.775
52-Week High % Change -9.76% Dividend Yield 5.93
52-Week Low % Change 16.02% Beta 0.89
% 52 Week Price Range High/Low 52.72% Equity Float 2'126.55
Shares Out 04.07.2012 2'365.1 Short Int -
91'708.09 1 Yr Total Return 8.43%
Total Debt 32'232.00 YTD Return 2.54%
Preferred Stock 0.0 Adjusted BETA 0.890
Minority Interest 1'352.0 Analyst Recs 34
Cash and Equivalents 14'725.00 Consensus Rating 3.882
Enterprise Value 111'868.08
Average Volume 5 Day 4'961'261
FP FP EQUITY YTD Change - Average Volume 30 Day 5'377'580
FP FP EQUITY YTD % CHANGE - Average Volume 3 Month 5'156'412
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
136'824.0 160'331.0 112'153.0 140'476.0 166'550.0 153'055.0 175'834.0 194'593.2 191'724.4 46'034.3 45'963.7
1.03x 0.62x 1.03x 0.74x 0.65x 2.76x 2.29x 0.57x 0.58x 2.27x 2.37x
31'249.0 29'887.0 22'234.0 28'045.0 32'919.0 30'721.0 31'909.0 34'109.7 34'268.4 9'126.5 8'746.5
4.50x 3.32x 5.22x 3.72x 3.28x 3.58x 3.14x 3.28x 3.27x 3.16x 3.17x
13'181.0 10'590.0 8'447.0 10'571.0 12'276.0 11'529.0 10'851.0 12'210.2 12'448.3 3'088.0 2'877.0
9.73x 8.21x 11.87x 8.38x 7.23x 7.76x 7.40x 7.15x 7.09x 7.23x 7.23x
EBITDA 32'919.00 Long-Term Rating Date 12.04.2011
EBIT 24'290.00 Long-Term Rating AA-
Operating Margin 14.58% Long-Term Outlook STABLE
Pretax Margin 16.00% Short-Term Rating Date 13.09.1999
Return on Assets 6.76% Short-Term Rating A-1+
Return on Common Equity 16.26%
Return on Capital 11.24% EBITDA/Interest Exp. 46.17
Asset Turnover 1.10% (EBITDA-Capex)/Interest Exp. 20.99
Net Debt/EBITDA 0.59
Gross Margin - Total Debt/EBITDA 1.06
EBITDA Margin 18.1%
EBIT Margin 12.9% Total Debt/Equity 47.4%
Net Income Margin 7.4% Total Debt/Capital 31.7%
Asset Turnover 1.10
Current Ratio 1.36 Net Fixed Asset Turnover 2.81
Quick Ratio 0.74 Accounts receivable turnover-days 39.59
Debt to Assets 19.65% Inventory Days -
Tot Debt to Common Equity 47.37% Accounts Payable Turnover Day -
Accounts Receivable Turnover 9.25 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Total SAPrice/Volume
Valuation Analysis
1'809'139.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
-2
.-
.2/-/20-021-12
l&.. k&.. a&.. g&./ c&./ j&./ W&./ j&./ g&./ g&./ W&./ p&./ l&./'- G
2'- G
.-'- G
.2'- G
/-'- G
/2'- G
0-'- G
02'- G
0.0
20'000.0
40'000.0
60'000.0
80'000.0
100'000.0
120'000.0
140'000.0
160'000.0
180'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-'--
.'--
/'--
0'--
1'--
2'--
3'--
4'--
5'--
-/'-.'/--6 -/'-4'/--6 -/'-.'/-.- -/'-4'/-.- -/'-.'/-.. -/'-4'/-.. -/'-.'/-./ -/'-4'/-./
FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
TOTAL SA n/a Co File 108'732'635 4.6 - 31.12.2011 Corporation
GROUPE BRUXELLES LAM n/a Research 94'077'367 3.98 - 15.03.2012 Holding Company
AMUNDI n/a Research 78'390'326 3.31 - 06.01.2012 Investment Advisor
NATIXIS ASSET MANAGE Multiple Portfolios MF-AGG 38'657'294 1.63 (1'113'285) 01.07.2012 Mutual Fund Manager
CIE NATIONALE A PORT n/a Co File 35'456'294 1.5 - 31.12.2011 n/a
AMUNDI Multiple Portfolios MF-AGG 28'398'633 1.2 7'469'137 31.05.2012 Mutual Fund Manager
VANGUARD GROUP INC Multiple Portfolios MF-AGG 26'046'448 1.1 1'274'137 30.06.2012 Investment Advisor
CAPITAL WORLD INVEST Multiple Portfolios MF-AGG 16'124'600 0.68 1'998'600 30.09.2012 Investment Advisor
FRANKLIN RESOURCES I Multiple Portfolios MF-AGG 13'678'419 0.58 (298'176) 28.09.2012 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 12'139'350 0.51 103'485 22.10.2012 Investment Advisor
ONTARIO TEACHERS PEN n/a Research 11'200'000 0.47 - 31.12.2011 Pension Fund (ERISA)
AVIVA PLC Multiple Portfolios MF-AGG 10'700'948 0.45 205'817 28.09.2012 Investment Advisor
BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 9'756'697 0.41 201'397 23.10.2012 Investment Advisor
LBPAM Multiple Portfolios MF-AGG 8'443'176 0.36 247'012 31.07.2012 Mutual Fund Manager
GRANTHAM MAYO VAN OT Multiple Portfolios MF-AGG 8'009'376 0.34 - 29.02.2012 Investment Advisor
BLACKROCK ASSET MANA Multiple Portfolios MF-AGG 6'773'910 0.29 39'770 22.10.2012 Investment Advisor
MERCURY ASSET MANAGE Multiple Portfolios MF-AGG 6'563'938 0.28 - 22.10.2012 Investment Advisor
WADDELL & REED FINAN Multiple Portfolios MF-AGG 6'092'378 0.26 4'883'200 30.06.2012 Investment Advisor
DODGE & COX Multiple Portfolios MF-AGG 5'868'600 0.25 - 30.09.2012 Investment Advisor
AMUNDI Multiple Portfolios MF-AGG 5'658'031 0.24 - 31.05.2012 Mutual Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Societe Generale IRENE HIMONA hold 3 M 43 12 month 24.10.2012
Barclays LYDIA RAINFORTH equalweight 3 M 45 Not Provided 24.10.2012
JPMorgan NITIN SHARMA overweight 5 M 49 12 month 23.10.2012
Canaccord Genuity Corp GORDON GRAY hold 3 M 40 12 month 18.10.2012
AlphaValue ALEXANDRE ANDLAUER reduce 2 M 40 6 month 18.10.2012
Goldman Sachs MICHELE DELLA VIGNA Sell/Cautious 1 M 40 12 month 17.10.2012
RBC Capital Markets PETER HUTTON outperform 5 M 44 12 month 17.10.2012
Macquarie JASON D GAMMEL neutral 3 M 42 12 month 16.10.2012
Tudor Pickering & Co ROBERT KESSLER accumulate 4 M 46 Not Provided 16.10.2012
Credit Suisse KIM FUSTIER neutral 3 M 43 Not Provided 15.10.2012
Jefferies IAIN REID buy 5 M 48 12 month 15.10.2012
Exane BNP Paribas ALEXANDRE MARIE neutral 3 M 48 Not Provided 15.10.2012
Sanford C. Bernstein & Co OSWALD CLINT outperform 5 M 51 12 month 12.10.2012
Grupo Santander JASON KENNEY hold 3 M 45 Not Provided 09.10.2012
CM - CIC Securities(ESN) JEAN-LUC ROMAIN buy 5 M 54 12 month 08.10.2012
VTB Capital COLIN SMITH buy 5 N 50 12 month 27.09.2012
Independent Research GmbH SVEN DIERMEIER hold 3 M 42 12 month 25.09.2012
Nomura THEEPAN JOTHILINGAM neutral 3 M 40 Not Provided 25.09.2012
Day by Day VALERIE GASTALDY buy 5 U 46 3 month 24.09.2012
HSBC PAUL SPEDDING overweight 5 M 45 Not Provided 02.08.2012
Hamburger Sparkasse INGO SCHMIDT buy 5 M #N/A N/A Not Provided 01.08.2012
Landesbank Baden-Wuerttemberg ACHIM WITTMANN buy 5 U 45 Not Provided 31.07.2012
Banco Sabadell JORGE GONZALEZ SADORNIL buy 5 M 48 Not Provided 30.07.2012
Natixis ANNE PUMIR buy 5 M 46 Not Provided 30.07.2012
Morgan Stanley MARTIJN P RATS Equalwt/In-Line 3 M 40 12 month 27.07.2012
S&P Capital IQ CHRISTINE TISCARENO buy 5 M 49 12 month 27.07.2012
Deutsche Bank LUCAS HERRMANN hold 3 M 42 12 month 03.07.2012
Investec STUART JOYNER hold 3 M 38 12 month 02.07.2012
CA Cheuvreux DOMINIQUE PATRY outperform 5 M 44 Not Provided 30.04.2012
Kepler Capital Markets BERTRAND HODEE buy 5 M 47 Not Provided 16.04.2012
EVA Dimensions TEAM COVERAGE buy 5 U #N/A N/A Not Provided 28.12.2011
Simmons & Company International JEFFREY A DIETERT overweight 5 M #N/A N/A Not Provided 01.08.2011
National Bank AG MANFRED JAISFELD buy 5 M 46 12 month 19.05.2010
Holdings By:
Total SA ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Gazprom OAO operates gas pipeline systems, produces and explores gas, and
transports high pressure gas in the Russian Federation and European countries.
The Company is also engaged in oil production, oil refining, gas storage, and
electric and heat energy generation.
Latest Fiscal Year: 12/2011
LTM as of: 03/yy
52-Week High (19.03.2012) 203.90
52-Week Low (25.05.2012) 136.50
Daily Volume
151.02
52-Week High % Change -24.91% Dividend Yield -
52-Week Low % Change 10.64% Beta 1.08
% 52 Week Price Range High/Low 24.93% Equity Float 5'119.17
Shares Out 30.06.2012 23'673.5 Short Int -
3'575'174.00 1 Yr Total Return -6.10%
Total Debt 1'540'162.00 YTD Return -6.87%
Preferred Stock 0.0 Adjusted BETA 1.080
Minority Interest 297'420.0 Analyst Recs 19
Cash and Equivalents 525'335.00 Consensus Rating 4.368
Enterprise Value 4'575'091.02
Average Volume 5 Day 35'941'940
GAZP RM EQUITY YTD Change - Average Volume 30 Day 38'846'240
GAZP RM EQUITY YTD % CHANGE - Average Volume 3 Month 37'059'380
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 03/yy 03/yy 12/12 Y 12/13 Y 03/12 Q1 06/12 Q2
2'390'467.0 3'518'960.0 2'990'971.0 3'597'054.0 4'637'090.0 ######### ######### ######### ######### ######### -
4.02x 1.10x 2.00x 1.60x 1.16x 5.61x 4.74x 1.01x 0.95x - -
885'355.0 1'554'286.0 1'115'242.0 1'399'892.0 1'970'093.0 ######### ######### ######### ######### 457'399.6 -
10.85x 2.48x 5.37x 4.10x 2.73x 4.20x 2.97x 2.62x 2.55x - -
658'038.0 742'928.0 779'585.0 968'557.0 1'307'018.0 ######### ######### ######### ######### 372'530.5 -
12.19x 3.39x 5.52x 4.58x 3.00x 4.72x 3.60x 3.03x 3.16x - -
EBITDA 1'970'093.00 Long-Term Rating Date 29.11.2006
EBIT 1'694'909.00 Long-Term Rating BBB
Operating Margin 36.55% Long-Term Outlook STABLE
Pretax Margin 36.23% Short-Term Rating Date 20.08.2010
Return on Assets 11.61% Short-Term Rating A-2
Return on Common Equity 16.52%
Return on Capital 14.14% EBITDA/Interest Exp. 61.57
Asset Turnover 0.44% (EBITDA-Capex)/Interest Exp. 13.03
Net Debt/EBITDA 0.39
Gross Margin - Total Debt/EBITDA 0.79
EBITDA Margin 39.2%
EBIT Margin 32.9% Total Debt/Equity 20.6%
Net Income Margin 28.2% Total Debt/Capital 16.6%
Asset Turnover 0.44
Current Ratio 1.71 Net Fixed Asset Turnover 0.73
Quick Ratio 0.81 Accounts receivable turnover-days 40.95
Debt to Assets 14.13% Inventory Days -
Tot Debt to Common Equity 20.64% Accounts Payable Turnover Day -
Accounts Receivable Turnover 8.94 Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Gazprom OAOPrice/Volume
Valuation Analysis
31'020'160.00
Current Price (10/dd/yy) Market Data
-/-1-3-5-
.--
./-
.1-
.3-
.5-/--
l&.. k&.. a&.. g&./ c&./ j&./ W&./ j&./ g&./ g&./ W&./ p&./ l&./'- G
2-'- G
.--'- G
.2-'- G
/--'- G
/2-'- G
0.0
500'000.0
1'000'000.0
1'500'000.0
2'000'000.0
2'500'000.0
3'000'000.0
3'500'000.0
4'000'000.0
4'500'000.0
5'000'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-'--
-'2-
.'--
.'2-
/'--
/'2-
0'--
0'2-
1'--
1'2-
2'--
-1'-.'/--6 -1'-4'/--6 -1'-.'/-.- -1'-4'/-.- -1'-.'/-.. -1'-4'/-.. -1'-.'/-./ -1'-4'/-./
FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
RUSSIAN FEDERAL PROP n/a Co File 9'083'527'196 38.37 - 31.12.2011 Government
BANK OF NEW YORK MEL n/a Co File 6'711'441'126 28.35 - 31.12.2011 Investment Advisor
ROSNEFTEGAZ n/a Co File 2'542'535'368 10.74 - 31.12.2011 Government
ROSGAZIFIKATSIYA OAO n/a Co File 210'457'537 0.89 - 31.12.2011 Government
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 128'791'902 0.54 3'721'800 22.10.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 82'703'753 0.35 7'285'441 30.09.2012 Investment Advisor
PICTET & CIE Multiple Portfolios MF-AGG 38'571'548 0.16 12'722'596 31.07.2012 Mutual Fund Manager
SWEDBANK ROBUR FONDE Multiple Portfolios MF-AGG 19'612'593 0.08 1'566'000 30.06.2012 Investment Advisor
BNP PARIBAS ASSET MG Multiple Portfolios MF-AGG 13'967'991 0.06 - 31.08.2012 Investment Advisor
HANDELSBANKEN FONDER Multiple Portfolios MF-AGG 9'731'965 0.04 (198'000) 30.09.2012 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 9'598'512 0.04 - 22.10.2012 Investment Advisor
JUPITER ASSET MANAGE Multiple Portfolios MF-AGG 8'017'000 0.03 395'000 30.03.2012 Investment Advisor
DEKA INTERNATIONAL S Multiple Portfolios MF-AGG 6'959'999 0.03 1'499'998 30.11.2011 Mutual Fund Manager
MACKENZIE FINANCIAL Multiple Portfolios MF-AGG 5'655'000 0.02 (5'145'000) 31.07.2012 Investment Advisor
URALSIB JSC Multiple Portfolios MF-AGG 4'106'000 0.02 (509'000) 31.05.2012 Investment Advisor
DEUTSCHE BANK AG Multiple Portfolios MF-AGG 3'845'260 0.02 - 31.08.2012 Investment Advisor
ING INVESTMENT MANAG Multiple Portfolios MF-AGG 3'548'600 0.01 (391'700) 30.06.2012 Investment Advisor
PICTET ASSET MANAGEM Multiple Portfolios MF-AGG 2'358'300 0.01 (12'000) 31.07.2012 Investment Advisor
VAZHENIN YURI IVANOV n/a Research 2'248'984 0.01 - 31.12.2010 n/a
SANPAOLO IMI ASSET M Multiple Portfolios MF-AGG 2'158'247 0.01 (335'125) 30.06.2011 Mutual Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Gazprombank IVAN KHROMUSHIN overweight 5 M 250 12 month 24.10.2012
VTB Capital DMITRY LOUKASHOV hold 3 M 174 12 month 22.10.2012
Uralsib ALEXEI KOKIN hold 3 M 181 Not Provided 17.10.2012
JPMorgan ARTEM KONCHIN neutral 3 M 205 12 month 04.10.2012
Deutsche Bank PAVEL KUSHNIR buy 5 M 200 12 month 02.10.2012
Infina Investment Company ALEXANDER IVANISCHEV buy 5 M 263 Not Provided 01.10.2012
Alfa-Bank MARIYA YEGIKYAN overweight 5 M 206 Not Provided 21.09.2012
Nomos Bank DENIS BORISOV hold 3 D 181 Not Provided 17.09.2012
IFC Metropol SERGEY VAKHRAMEEV buy 5 M 220 12 month 11.09.2012
Credit Suisse ANDREY OVCHINNIKOV neutral 3 M 170 Not Provided 07.09.2012
Otkritie Capital ALEXANDER BURGANSKY buy 5 M 374 Not Provided 07.09.2012
RMG Securities MIKHAIL LOSHININ buy 5 M 229 Not Provided 12.07.2012
Raiffeisenbank AG ANDREY POLISCHUK buy 5 N 197 12 month 02.07.2012
UFS-Finance Investment Company ILYA BALAKIREV buy 5 M 228 Not Provided 02.07.2012
Sberbank CIB OLEG MAXIMOV buy 5 U 249 Not Provided 21.05.2012
EVA Dimensions TEAM COVERAGE buy 5 M #N/A N/A Not Provided 09.05.2012
Aton LLC ELENA SAVCHIK buy 5 M 247 12 month 20.01.2012
Societe Generale EVGENY SOLOVYOV buy 5 M 236 12 month 15.10.2009
Holdings By:
Gazprom OAO ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Royal Dutch Shell PLC, through subsidiaries, explores for, produces, and
refines petroleum. The Company produces fuels, chemicals, and lubricants.
Shell owns and operates gasoline filling stations worldwide.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (10.01.2012) 2'499.00
52-Week Low (18.05.2012) 2'020.00
Daily Volume
2193.5
52-Week High % Change -12.22% Dividend Yield 4.83
52-Week Low % Change 8.59% Beta 0.98
% 52 Week Price Range High/Low 31.84% Equity Float 2'628.32
Shares Out 23.10.2012 2'630.0 Short Int -
136'955.28 1 Yr Total Return -0.06%
Total Debt 37'175.00 YTD Return -7.34%
Preferred Stock 0.0 Adjusted BETA 0.976
Minority Interest 1'486.0 Analyst Recs 18
Cash and Equivalents 11'292.00 Consensus Rating 3.556
Enterprise Value 236'744.79
Average Volume 5 Day 3'525'807
RDSB LN EQUITY YTD Change - Average Volume 30 Day 3'057'119
RDSB LN EQUITY YTD % CHANGE - Average Volume 3 Month 2'740'898
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
355'782.0 458'361.0 278'188.0 368'056.0 470'171.0 422'610.0 475'975.0 467'282.2 455'749.2 128'516.5 127'794.5
0.77x 0.37x 0.76x 0.65x 0.55x 2.29x 2.01x 0.52x 0.52x 1.85x 1.86x
53'932.0 57'301.0 29'079.0 41'839.0 55'943.0 45'825.0 52'403.0 59'763.5 63'291.2 12'780.0 14'351.0
5.09x 2.98x 7.28x 5.69x 4.60x 5.45x 4.47x 3.96x 3.74x 3.85x 3.48x
31'331.0 26'277.0 12'518.0 20'127.0 30'918.0 27'695.0 26'258.0 26'684.2 28'362.2 6'382.4 7'141.0
8.37x 6.16x 14.87x 10.16x 7.39x 7.94x 8.00x 8.26x 7.82x 7.95x 7.67x
EBITDA 55'943.00 Long-Term Rating Date 03.09.2009
EBIT 42'715.00 Long-Term Rating AA
Operating Margin 9.08% Long-Term Outlook STABLE
Pretax Margin 11.84% Short-Term Rating Date 19.04.2004
Return on Assets 7.54% Short-Term Rating A-1+
Return on Common Equity 15.35%
Return on Capital 12.95% EBITDA/Interest Exp. 27.33
Asset Turnover 1.37% (EBITDA-Capex)/Interest Exp. 14.48
Net Debt/EBITDA 0.30
Gross Margin 15.7% Total Debt/EBITDA 0.63
EBITDA Margin 11.0%
EBIT Margin 8.1% Total Debt/Equity 21.9%
Net Income Margin 6.6% Total Debt/Capital 17.9%
Asset Turnover 1.37
Current Ratio 1.17 Net Fixed Asset Turnover 3.14
Quick Ratio 0.58 Accounts receivable turnover-days 56.40
Debt to Assets 10.77% Inventory Days 28.11
Tot Debt to Common Equity 21.93% Accounts Payable Turnover Day 70.85
Accounts Receivable Turnover 6.49 Cash Conversion Cycle 23.58
Inventory Turnover 13.02
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Royal Dutch Shell PLCPrice/Volume
Valuation Analysis
1'643'470.00
Current Price (10/dd/yy) Market Data
-
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0.0
50'000.0
100'000.0
150'000.0
200'000.0
250'000.0
300'000.0
350'000.0
400'000.0
450'000.0
500'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-'--
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK INV MANAGE Multiple Portfolios REG 156'192'884 5.94 8'193'299 01.09.2012 Investment Advisor
CAPITAL RESEARCH AND Multiple Portfolios REG 101'521'110 3.86 (858'917) 01.09.2012 Investment Advisor
CAPITAL GROUP COMPAN n/a RNS-MAJ 100'088'987 3.81 - 03.09.2012 Investment Advisor
LEGAL & GENERAL INV Multiple Portfolios REG 95'417'163 3.63 (2'751'874) 01.09.2012 Investment Advisor
CREDIT SUISSE PRIVAT Multiple Portfolios REG 75'473'452 2.87 10'069'351 01.09.2012 Bank
CAPITAL RESEARCH GLO Multiple Portfolios MF-AGG 71'080'651 2.7 49'861'905 30.09.2012 Investment Advisor
SCOTTISH WIDOWS INVE Multiple Portfolios REG 54'308'100 2.06 (9'903'499) 01.09.2012 Investment Advisor
M&G INVESTMENT MANAG Multiple Portfolios REG 52'029'010 1.98 (4'081'597) 01.09.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 50'563'411 1.92 3'985'643 30.06.2012 Investment Advisor
QATAR INVESTMENT AUT Multiple Portfolios REG 43'033'446 1.64 - 01.09.2012 Government
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 38'341'027 1.46 858'048 22.10.2012 Investment Advisor
PEOPLES REPUBLIC OF Multiple Portfolios REG 35'923'585 1.37 (433'000) 01.09.2012 Government
STANDARD LIFE INVEST Multiple Portfolios REG 35'365'103 1.34 (3'672'622) 01.09.2012 Investment Advisor
AXA INVESTMENT MANAG Multiple Portfolios REG 33'758'455 1.28 (327'714) 01.09.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios REG 33'562'595 1.28 4'057'596 01.09.2012 Investment Advisor
THREADNEEDLE ASSET M Multiple Portfolios REG 29'330'068 1.12 5'404'782 01.09.2012 Investment Advisor
CAPITAL WORLD INVEST Multiple Portfolios MF-AGG 28'461'431 1.08 2'772'600 30.09.2012 Investment Advisor
BREWIN DOLPHIN LIMIT Multiple Portfolios REG 28'018'816 1.07 (339'341) 01.09.2012 Investment Advisor
FRANKLIN RESOURCES I Multiple Portfolios REG 22'967'969 0.87 (4'081'561) 01.09.2012 Investment Advisor
ABERDEEN ASSET MANAG Multiple Portfolios REG 21'590'673 0.82 554'889 01.09.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Nomura THEEPAN JOTHILINGAM buy 5 M 2'500 12 month 24.10.2012
Barclays RAHIM KARIM equalweight 3 M 2'650 Not Provided 24.10.2012
Exane BNP Paribas ALEXANDRE MARIE outperform 5 M 2'650 Not Provided 19.10.2012
Canaccord Genuity Corp GORDON GRAY buy 5 M 2'650 12 month 18.10.2012
Societe Generale IRENE HIMONA hold 3 M 2'450 12 month 17.10.2012
Goldman Sachs MICHELE DELLA VIGNA Sell/Cautious 1 D 2'260 12 month 17.10.2012
RBC Capital Markets PETER HUTTON sector perform 3 M 2'580 12 month 16.10.2012
Sanford C. Bernstein & Co OSWALD CLINT market perform 3 M 2'410 12 month 11.10.2012
JPMorgan FREDERICK G LUCAS neutral 3 M 2'500 6 month 02.10.2012
Grupo Santander JASON KENNEY underweight 1 D 2'480 Not Provided 18.09.2012
Liberum Capital Ltd ANDREW WHITTOCK hold 3 M 2'360 Not Provided 04.09.2012
Natixis ANNE PUMIR buy 5 M 2'725 Not Provided 27.07.2012
HSBC PAUL SPEDDING neutral 3 M 2'505 Not Provided 24.07.2012
Deutsche Bank LUCAS HERRMANN buy 5 M 2'475 12 month 03.07.2012
Morgan Stanley MARTIJN P RATS Overwt/In-Line 5 M 2'600 12 month 01.07.2012
EVA Dimensions TEAM COVERAGE buy 5 M #N/A N/A Not Provided 30.11.2011
Holdings By:
Royal Dutch Shell PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
CNOOC Limited, through its subsidiaries, explores, develops, produces, and sells
crude oil and natural gas. The Group's core operation areas are Bohai, Western
South China Sea, Eastern South China Sea and East China Sea in offshore China.
Internationally, the Group has oil and gas assets in Asia, Africa, North
America, South America and Oceania.
Latest Fiscal Year: 12/2011
LTM as of: 01/yy
52-Week High (20.02.2012) 18.20
52-Week Low (05.06.2012) 13.18
Daily Volume
16.04
52-Week High % Change -11.87% Dividend Yield 2.71
52-Week Low % Change 21.70% Beta 1.27
% 52 Week Price Range High/Low 62.55% Equity Float 15'873.58
Shares Out 30.09.2012 44'646.3 Short Int -
716'126.81 1 Yr Total Return 20.83%
Total Debt 37'995.00 YTD Return 21.72%
Preferred Stock 0.0 Adjusted BETA 1.267
Minority Interest 0.0 Analyst Recs 35
Cash and Equivalents 99'197.00 Consensus Rating 3.514
Enterprise Value 516'853.73
Average Volume 5 Day 47'267'360
883 HK EQUITY YTD Change - Average Volume 30 Day 56'820'880
883 HK EQUITY YTD % CHANGE - Average Volume 3 Month 55'443'620
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 01/yy 01/yy 12/12 Y 12/13 Y - -
90'723.8 125'977.4 105'195.1 180'036.0 240'944.0 - - 232'667.0 242'144.5 - -
5.75x 1.95x 4.24x 3.71x 1.79x - - 2.42x 2.27x - -
49'242.7 65'262.9 56'272.8 97'993.0 119'044.0 - - 122'111.4 125'660.3 - -
10.59x 3.77x 7.93x 6.82x 3.62x - - 4.23x 4.11x - -
31'258.3 44'375.3 29'485.6 54'410.0 70'255.0 - - 64'135.3 63'932.5 - -
17.26x 6.44x 16.28x 12.81x 7.02x - - 8.94x 8.92x - -
EBITDA 119'044.00 Long-Term Rating Date 16.12.2010
EBIT 88'523.00 Long-Term Rating AA-
Operating Margin 36.74% Long-Term Outlook STABLE
Pretax Margin 38.42% Short-Term Rating Date -
Return on Assets 16.17% Short-Term Rating -
Return on Common Equity 23.71%
Return on Capital - EBITDA/Interest Exp. 76.41
Asset Turnover 0.60% (EBITDA-Capex)/Interest Exp. 42.61
Net Debt/EBITDA -0.53
Gross Margin - Total Debt/EBITDA 0.48
EBITDA Margin 48.6%
EBIT Margin 35.1% Total Debt/Equity 14.5%
Net Income Margin 29.2% Total Debt/Capital 12.6%
Asset Turnover 0.60
Current Ratio 1.88 Net Fixed Asset Turnover 1.08
Quick Ratio 1.71 Accounts receivable turnover-days 31.60
Debt to Assets 9.89% Inventory Days -
Tot Debt to Common Equity 14.45% Accounts Payable Turnover Day -
Accounts Receivable Turnover 11.58 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
CNOOC LtdPrice/Volume
Valuation Analysis
56'291'042.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
-/135
.-
./
.1
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l&.. k&.. a&.. g&./ c&./ j&./ W&./ j&./ g&./ g&./ W&./ p&./ l&./'- G/-'- G1-'- G3-'- G5-'- G.--'- G./-'- G.1-'- G.3-'- G.5-'- G
0.0
50'000.0
100'000.0
150'000.0
200'000.0
250'000.0
300'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011-'--
-'/-
-'1-
-'3-
-'5-
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.'/-
FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CHINA NATIONAL OFFSH n/a 20F 28'772'727'273 64.45 - 31.03.2012 Government
VANGUARD GROUP INC Multiple Portfolios MF-AGG 766'813'686 1.72 12'825'912 30.09.2012 Investment Advisor
FRANKLIN RESOURCES I Multiple Portfolios MF-AGG 536'787'247 1.2 (8'067'400) 28.09.2012 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 426'036'001 0.95 9'130'000 22.10.2012 Investment Advisor
THORNBURG INVESTMENT Multiple Portfolios MF-AGG 306'196'683 0.69 11'864'213 31.07.2012 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 273'113'880 0.61 (25'381'876) 29.02.2012 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 250'568'200 0.56 7'237'000 30.06.2012 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 157'111'003 0.35 (2'211'309) 31.12.2011 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 152'169'600 0.34 (1'421'000) 22.10.2012 Investment Advisor
T ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 142'406'000 0.32 7'363'000 30.09.2012 Investment Advisor
FIRST STATE INVESTME Multiple Portfolios MF-AGG 138'905'500 0.31 (4'520'000) 29.06.2012 Mutual Fund Manager
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 121'732'000 0.27 - 30.08.2012 Investment Advisor
WILLIAM BLAIR & COMP WILLIAM BLAIR & COMP 13F 107'771'467 0.24 9'576'000 30.06.2012 Investment Advisor
INVESCO LTD Multiple Portfolios MF-AGG 99'157'375 0.22 24'815'000 23.10.2012 Investment Advisor
LAZARD ASSET MANAGEM Multiple Portfolios MF-AGG 80'512'000 0.18 19'253'000 30.09.2012 Investment Advisor
SCHRODER KOREA LTD Multiple Portfolios MF-AGG 75'586'000 0.17 (4'656'000) 31.03.2012 Mutual Fund Manager
SHINHAN BNP PARIBAS Multiple Portfolios MF-AGG 67'404'957 0.15 (24'685'000) 31.03.2012 Investment Advisor
INVESTEC ASSET MANAG Multiple Portfolios MF-AGG 63'636'436 0.14 (561'000) 31.08.2012 Investment Advisor
JPMORGAN ASSET MANAG Multiple Portfolios MF-AGG 63'498'000 0.14 (375'000) 30.06.2012 Investment Advisor
JP MORGAN CHASE & CO Multiple Portfolios MF-AGG 59'064'000 0.13 (5'614'000) 31.08.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Sanford C. Bernstein & Co NEIL BEVERIDGE outperform 5 M 21 12 month 24.10.2012
Standard Chartered DUKE SUTTIKULPANICH outperform 5 M 18 12 month 22.10.2012
Jefferies LABAN YU underperform 1 M 13 12 month 22.10.2012
Renaissance Capital BRADLEY WAY hold 3 M 16 12 month 22.10.2012
Nomura SONIA SONG neutral 3 M 18 Not Provided 22.10.2012
China International Capital Corp BIN GUAN accumulate 4 M 17 12 month 19.10.2012
SWS Research Co Ltd ALBERT MIAO underperform 1 M 13 Not Provided 19.10.2012
Bank of China International LAWRENCE LAU hold 3 M 16 Not Provided 17.10.2012
Credit Suisse DAVID HEWITT outperform 5 M 19 Not Provided 15.10.2012
Deutsche Bank DAVID HURD hold 3 M 17 12 month 02.10.2012
Mirae Asset Securities GORDON KWAN hold 3 M 16 12 month 27.09.2012
VTB Capital COLIN SMITH hold 3 N 17 12 month 27.09.2012
Macquarie JAMES HUBBARD outperform 5 M 21 12 month 24.09.2012
BOCOM International Holdings WU FEI neutral 3 M 18 12 month 24.09.2012
JPMorgan BRYNJAR EIRIK BUSTNES underweight 1 M 13 Not Provided 18.09.2012
DBS Vickers WEE KEAT LEE hold 3 M 16 12 month 22.08.2012
BNP Paribas Equity Research CHENG KHOO buy 5 M 18 12 month 22.08.2012
UOB Kay Hian YAN SHI buy 5 M 18 Not Provided 22.08.2012
ICBC International Securities ANNA YU hold 3 M 14 Not Provided 22.08.2012
Morgan Stanley WEE KIAT TAN Overwt/In-Line 5 M 20 12 month 21.08.2012
HSBC THOMAS C HILBOLDT overweight 5 M 18 Not Provided 21.08.2012
Mizuho Securities ANDREW S F CHAN buy 5 M 18 12 month 21.08.2012
Daiwa Securities Co. Ltd. ADRIAN LOH buy 5 M 21 Not Provided 21.08.2012
Barclays SCOTT DARLING overweight 5 M 21 Not Provided 21.08.2012
Goldman Sachs ARTHUR YAN not rated #N/A N/A M #N/A N/A Not Provided 02.08.2012
JF Apex Securities Bhd TEAM COVERAGE hold 3 M #N/A N/A Not Provided 25.07.2012
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 M 16 Not Provided 24.07.2012
Guotai Junan GRACE LIU accumulate 4 M 18 Not Provided 26.06.2012
Yuanta Securities Investment ConsultingTEAM COVERAGE Under Review #N/A N/A M #N/A N/A Not Provided 15.06.2012
Ji Asia SAMUEL THAWLEY sell 1 M 10 12 month 11.05.2012
Capital Securities Corp TEAM COVERAGE hold 3 M #N/A N/A Not Provided 29.03.2012
EVA Dimensions TEAM COVERAGE buy 5 M #N/A N/A Not Provided 30.11.2011
GuoSen Securities Co Ltd STEVEN LU neutral 3 M #N/A N/A Not Provided 22.11.2011
RBS PETER HILTON hold 3 M 14 12 month 07.11.2011
Industrial Securities FANG LEI buy 5 N #N/A N/A Not Provided 20.07.2009
Holdings By:
CNOOC Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Petroleo Brasileiro S.A. - Petrobras explores for and produces oil and natural
gas. The Company refines, markets, and supplies oil products. Petrobras
operates oil tankers, distribution pipelines, marine, river and lake terminals,
thermal power plants, fertilizer plants, and petrochemical units. The Company
operates in South America and elsewhere around the world.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (24.01.2012) 28.26
52-Week Low (28.06.2012) 18.05
Daily Volume
22.47
52-Week High % Change -20.56% Dividend Yield -
52-Week Low % Change 24.49% Beta 1.01
% 52 Week Price Range High/Low 43.58% Equity Float 3'081.92
Shares Out 15.10.2012 7'442.5 Short Int -
288'516.16 1 Yr Total Return 7.78%
Total Debt 155'554.69 YTD Return -0.09%
Preferred Stock - Adjusted BETA 1.013
Minority Interest 2'384.7 Analyst Recs 16
Cash and Equivalents 58'302.82 Consensus Rating 4.250
Enterprise Value 417'526.29
Average Volume 5 Day 5'768'180
PETR3 BZ EQUITY YTD Change - Average Volume 30 Day 6'284'857
PETR3 BZ EQUITY YTD % CHANGE - Average Volume 3 Month 6'084'779
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
170'718.9 217'220.4 183'481.6 211'841.9 244'176.1 223'163.6 262'088.2 273'126.1 283'095.6 72'844.0 73'980.7
2.95x 0.98x 2.60x 2.07x 1.56x 7.82x 5.77x 1.60x 1.61x 5.87x 5.82x
52'508.7 57'350.1 58'032.9 59'315.3 61'582.3 61'581.1 56'472.1 64'776.5 74'306.3 16'896.9 20'576.0
9.58x 3.73x 8.22x 7.39x 6.17x 6.42x 6.50x 6.44x 5.62x 5.39x 5.14x
25'564.5 38'932.0 30'964.7 35'189.4 33'313.1 41'096.0 19'253.7 28'650.3 35'360.6 7'418.6 11'061.5
33.19x 4.09x 11.92x 7.66x 8.41x 6.69x 12.36x 10.53x 8.13x 8.09x 7.75x
EBITDA 61'582.35 Long-Term Rating Date 17.11.2011
EBIT 43'842.85 Long-Term Rating BBB
Operating Margin 17.96% Long-Term Outlook STABLE
Pretax Margin 18.16% Short-Term Rating Date -
Return on Assets 3.26% Short-Term Rating -
Return on Common Equity 5.84%
Return on Capital 5.05% EBITDA/Interest Exp. -
Asset Turnover 0.44% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA 2.25
Gross Margin 31.6% Total Debt/EBITDA 3.17
EBITDA Margin 21.5%
EBIT Margin 13.9% Total Debt/Equity 47.2%
Net Income Margin 13.6% Total Debt/Capital 31.9%
Asset Turnover 0.44
Current Ratio 1.78 Net Fixed Asset Turnover 0.77
Quick Ratio 1.02 Accounts receivable turnover-days 21.94
Debt to Assets 25.96% Inventory Days 54.12
Tot Debt to Common Equity 47.16% Accounts Payable Turnover Day 38.76
Accounts Receivable Turnover 16.68 Cash Conversion Cycle 35.52
Inventory Turnover 6.76
Fiscal Year Ended
Petroleo Brasileiro SAPrice/Volume
Valuation Analysis
134'600.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
-
2
.-
.2
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/2
0-
l&.. k&.. a&.. g&./ c&./ j&./ W&./ j&./ g&./ g&./ W&./ p&./ l&./'- G
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/-'- G
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0.0
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100'000.0
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200'000.0
250'000.0
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2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-'--
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/'--
0'--
1'--
2'--
3'--
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5'--
-/'-.'/--6 -/'-4'/--6 -/'-.'/-.- -/'-4'/-.- -/'-.'/-.. -/'-4'/-.. -/'-.'/-./ -/'-4'/-./
FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
UNIAO FEDERAL BRAZIL n/a EXCH 3'739'088'941 50.24 - 24.07.2012 Government
BNDES PARTICIPACOES n/a EXCH 621'444'917 8.35 - 24.07.2012 Government
BB GESTAO DE RECURSO Multiple Portfolios MF-AGG 331'703'203 4.46 (355'800) 30.09.2012 Mutual Fund Manager
CAIXA ECONOMICA FEDE Multiple Portfolios MF-AGG 113'901'674 1.53 (1'398'300) 30.09.2012 Mutual Fund Manager
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 92'357'520 1.24 232'800 22.10.2012 Investment Advisor
ITAU UNIBANCO SA Multiple Portfolios MF-AGG 53'923'604 0.72 931'382 30.09.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 48'521'005 0.65 1'322'829 30.09.2012 Investment Advisor
BRAM BRADESCO ASSET Multiple Portfolios MF-AGG 43'046'998 0.58 (744'401) 30.09.2012 Investment Advisor
BTG PACTUAL ASSET MG Multiple Portfolios MF-AGG 31'280'770 0.42 (130'537) 30.09.2012 Mutual Fund Manager
SANTANDER BRASIL ASS Multiple Portfolios MF-AGG 27'204'582 0.37 (116'902) 30.09.2012 Mutual Fund Manager
HSBC GESTAO DE RECUR Multiple Portfolios MF-AGG 16'062'121 0.22 356'586 30.09.2012 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 12'576'329 0.17 13'400 22.10.2012 Investment Advisor
BANCO ALFA DE INVEST Multiple Portfolios MF-AGG 9'915'694 0.13 (40'900) 30.09.2012 Investment Advisor
UNIBANCO ASSET MANAG Multiple Portfolios MF-AGG 9'639'782 0.13 44'965 30.09.2012 Investment Advisor
BANCO SAFRA S A Multiple Portfolios MF-AGG 8'782'072 0.12 (139'000) 30.09.2012 Investment Advisor
FUNDACAO CESP Multiple Portfolios MF-AGG 8'496'003 0.11 (86'300) 30.09.2012 Mutual Fund Manager
SCHRODER INVEST MGMT Multiple Portfolios MF-AGG 8'144'776 0.11 (1'992'469) 30.09.2012 Investment Advisor
BNP PARIBAS ASSET MA Multiple Portfolios MF-AGG 8'085'347 0.11 499'575 30.09.2012 Mutual Fund Manager
REAL GRANDEZA FUNDAC Multiple Portfolios MF-AGG 7'477'171 0.1 - 30.09.2012 Mutual Fund Manager
WESTERN ASSET MANAGE Multiple Portfolios MF-AGG 7'372'002 0.1 49'271 30.09.2012 Mutual Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
JPMorgan CAIO M CARVALHAL neutral 3 M 25 12 month 24.10.2012
Banco Safra de Investimento LEONARDO ALVES outperform 5 M 31 12 month 23.10.2012
Sociedade Corretora Paulista MARCELO VAREJAO market outperform 4 M 38 Not Provided 23.10.2012
Tudor Pickering & Co ROBERT KESSLER accumulate 4 M 30 Not Provided 16.10.2012
Jefferies IAIN REID buy 5 M 26 12 month 15.10.2012
GBM BIANCA FAIWICHOW market perform 3 M 23 Not Provided 01.10.2012
VTB Capital COLIN SMITH buy 5 N 28 12 month 27.09.2012
Banco do Brasil SA NATANIEL CEZIMBRA market perform 3 M 28 Not Provided 10.08.2012
Espirito Santo Investment Bank ResearchOSWALDO ALCANTARA TELLES FILHO buy 5 M 35 Not Provided 06.08.2012
HSBC ANISA REDMAN overweight 5 M 41 Not Provided 01.08.2012
Goldman Sachs FELIPE MATTAR Buy/Neutral 5 M 31 6 month 18.07.2012
Grupo Santander CHRISTIAN AUDI hold 3 M 24 Not Provided 15.06.2012
Simmons & Company International JEFFREY A DIETERT neutral 3 D #N/A N/A Not Provided 14.06.2012
Concordia S/A CMVCC LEONARDO GIRELA ZANFELICIO buy 5 M 44 Not Provided 26.12.2011
Banco BTG Pactual SA GUSTAVO GATTASS buy 5 M 47 12 month 29.08.2011
Ativa S/A CTV MONICA ARAUJO Under Review #N/A N/A M #N/A N/A Not Provided 26.07.2011
Bradesco Corretora AURO ROZENBAUM market perform 3 M 38 Not Provided 11.11.2009
Holdings By:
Petroleo Brasileiro SA ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Eni S.p.A. explores for and produces hydrocarbons in Italy, Africa, the North
Sea, the Gulf of Mexico, Kazakhstan, and Australia. The Company both produces
natural gas and imports it for sale in Italy and elsewhere in Europe. Eni
transports natural gas in pipelines. The Company generates and trades
electricity, refines oil, and operates gasoline service stations.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (19.03.2012) 18.72
52-Week Low (24.11.2011) 14.37
Daily Volume
17.5
52-Week High % Change -6.52% Dividend Yield -
52-Week Low % Change 21.78% Beta 0.85
% 52 Week Price Range High/Low 66.44% Equity Float 2'532.64
Shares Out 16.07.2012 3'634.2 Short Int -
63'598.24 1 Yr Total Return 15.75%
Total Debt 29'597.00 YTD Return 16.40%
Preferred Stock 0.0 Adjusted BETA 0.855
Minority Interest 4'921.0 Analyst Recs 37
Cash and Equivalents 1'762.00 Consensus Rating 4.000
Enterprise Value 95'700.24
Average Volume 5 Day 12'128'610
ENI IM EQUITY YTD Change - Average Volume 30 Day 26'008'930
ENI IM EQUITY YTD % CHANGE - Average Volume 3 Month 19'570'770
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
87'256.0 108'082.0 83'227.0 98'523.0 109'589.0 103'343.0 119'417.0 119'462.9 121'236.8 32'031.5 31'870.7
1.25x 0.74x 1.10x 0.91x 0.83x 3.49x 3.07x 0.70x 0.67x 2.50x 2.44x
25'897.0 26'939.0 20'817.0 24'992.0 25'732.0 24'420.0 26'157.0 30'256.6 30'398.2 6'305.0 7'152.0
4.20x 2.98x 4.39x 3.58x 3.53x 3.93x 3.80x 3.16x 3.15x 3.54x 3.48x
10'011.0 8'825.0 4'367.0 6'318.0 6'860.0 6'073.0 6'903.0 7'596.9 7'854.2 1'606.6 2'102.3
9.18x 6.89x 14.71x 9.39x 8.47x 9.48x 9.18x 8.44x 8.03x 8.68x 8.32x
EBITDA 25'732.00 Long-Term Rating Date 17.01.2012
EBIT 17'435.00 Long-Term Rating A
Operating Margin 15.91% Long-Term Outlook NEG
Pretax Margin 16.86% Short-Term Rating Date 19.05.2010
Return on Assets 4.91% Short-Term Rating A-1
Return on Common Equity 12.61%
Return on Capital - EBITDA/Interest Exp. 27.91
Asset Turnover 0.85% (EBITDA-Capex)/Interest Exp. 15.26
Net Debt/EBITDA 1.04
Gross Margin - Total Debt/EBITDA 1.22
EBITDA Margin 21.9%
EBIT Margin 14.5% Total Debt/Equity 53.4%
Net Income Margin 6.3% Total Debt/Capital 32.9%
Asset Turnover 0.85
Current Ratio 1.08 Net Fixed Asset Turnover 1.82
Quick Ratio 0.55 Accounts receivable turnover-days 48.51
Debt to Assets 20.71% Inventory Days -
Tot Debt to Common Equity 53.35% Accounts Payable Turnover Day -
Accounts Receivable Turnover 7.54 Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Eni SpAPrice/Volume
Valuation Analysis
6'383'070.00
Current Price (10/dd/yy) Market Data
-/135
.-
./
.1
.3
.5/-
l&.. k&.. a&.. g&./ c&./ j&./ W&./ j&./ g&./ g&./ W&./ p&./ l&./'- G
.-'- G
/-'- G
0-'- G
1-'- G
2-'- G
3-'- G
4-'- G
5-'- G
0.0
20'000.0
40'000.0
60'000.0
80'000.0
100'000.0
120'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-'--
.'--
/'--
0'--
1'--
2'--
3'--
-/'-.'/--6 -/'-4'/--6 -/'-.'/-.- -/'-4'/-.- -/'-.'/-.. -/'-4'/-.. -/'-.'/-./ -/'-4'/-./
FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CASSA DEPOSITI E PRE #N/A N/A EXCH 958'298'322 26.37 - 08.10.2012 Other
MINISTERO DELL'ECONO #N/A N/A EXCH 142'968'850 3.93 - 08.10.2012 Government
BNP PARIBAS ARBITRAG #N/A N/A EXCH 41'175'319 1.13 - 08.10.2012 Investment Advisor
FIDELITY MANAGEMENT Multiple Portfolios MF-AGG 40'129'237 1.1 1'535'382 31.08.2012 Investment Advisor
CAPITAL RESEARCH GLO Multiple Portfolios MF-AGG 39'687'688 1.09 6'292'688 30.09.2012 Investment Advisor
BLACKROCK ADVISORS U n/a EXCH 35'687'700 0.98 - 08.10.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 32'155'070 0.88 1'368'094 30.06.2012 Investment Advisor
BLACKROCK INSTITUTIO n/a EXCH 28'819'089 0.79 - 08.10.2012 Investment Advisor
BNP PARIBAS SA #N/A N/A EXCH 28'455'671 0.78 - 08.10.2012 Bank
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 24'886'434 0.68 126'399 22.10.2012 Investment Advisor
T ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 13'560'315 0.37 (1'027'526) 30.09.2012 Investment Advisor
BLACKROCK FUND ADVIS n/a EXCH 12'319'888 0.34 - 08.10.2012 Investment Advisor
FRANKLIN RESOURCES I Multiple Portfolios MF-AGG 12'124'168 0.33 (780'954) 28.09.2012 Investment Advisor
BNP PAR SEC SER SA n/a EXCH 11'484'026 0.32 - 08.10.2012 n/a
ABERDEEN ASSET MANAG Multiple Portfolios MF-AGG 11'179'000 0.31 54'600 28.09.2012 Investment Advisor
THORNBURG INVESTMENT Multiple Portfolios MF-AGG 11'151'200 0.31 - 30.06.2012 Investment Advisor
BLACKROCK ASSET MANA Multiple Portfolios MF-AGG 10'022'351 0.28 47'938 22.10.2012 Investment Advisor
NATIXIS ASSET MANAGE Multiple Portfolios MF-AGG 9'590'569 0.26 (762'949) 01.07.2012 Mutual Fund Manager
BNP PARIBAS ASSET MG Multiple Portfolios MF-AGG 7'995'059 0.22 (49'194) 31.08.2012 Investment Advisor
MERCURY ASSET MANAGE Multiple Portfolios MF-AGG 7'909'627 0.22 - 22.10.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Nomura THEEPAN JOTHILINGAM buy 5 M 19 12 month 24.10.2012
Barclays RAHIM KARIM overweight 5 U 21 Not Provided 24.10.2012
Mediobanca SpA ANDREA SCAURI outperform 5 M 22 Not Provided 23.10.2012
JPMorgan NITIN SHARMA overweight 5 M 22 12 month 23.10.2012
Macquarie JASON D GAMMEL neutral 3 M 19 12 month 19.10.2012
Exane BNP Paribas CHARLES RIOU underperform 1 M 19 Not Provided 19.10.2012
Canaccord Genuity Corp GORDON GRAY sell 1 M 17 12 month 18.10.2012
AlphaValue ALEXANDRE ANDLAUER add 4 M 20 6 month 18.10.2012
Goldman Sachs MICHELE DELLA VIGNA Buy/Cautious 5 M 23 12 month 17.10.2012
RBC Capital Markets PETER HUTTON sector perform 3 M 19 12 month 17.10.2012
Banca IMI ROBERTO RANIERI buy 5 M 21 12 month 16.10.2012
ICBPI. LUCA ARENA not rated #N/A N/A M #N/A N/A Not Provided 16.10.2012
Credit Suisse KIM FUSTIER outperform 5 M 21 Not Provided 15.10.2012
Jefferies IAIN REID buy 5 M 20 12 month 15.10.2012
Societe Generale IRENE HIMONA buy 5 M 20 12 month 12.10.2012
Sanford C. Bernstein & Co OSWALD CLINT market perform 3 M 20 12 month 12.10.2012
Banca Akros(ESN) DARIO MICHI buy 5 M 22 12 month 12.10.2012
Kepler Capital Markets ENRICO COCO hold 3 M 18 Not Provided 10.10.2012
VTB Capital COLIN SMITH hold 3 N 21 12 month 27.09.2012
Day by Day VALERIE GASTALDY buy 5 M 20 3 month 24.09.2012
Independent Research GmbH SVEN DIERMEIER hold 3 M 18 12 month 21.09.2012
Grupo Santander JASON KENNEY buy 5 M 21 Not Provided 18.09.2012
Deutsche Bank MARK BLOOMFIELD buy 5 M 21 12 month 29.08.2012
EVA Dimensions TEAM COVERAGE buy 5 U #N/A N/A Not Provided 27.08.2012
Hamburger Sparkasse INGO SCHMIDT sell 1 D #N/A N/A Not Provided 14.08.2012
CA Cheuvreux DOMINIQUE PATRY outperform 5 M 21 Not Provided 13.08.2012
HSBC PAUL SPEDDING neutral 3 M 19 Not Provided 08.08.2012
Landesbank Baden-Wuerttemberg ACHIM WITTMANN buy 5 M 20 Not Provided 06.08.2012
S&P Capital IQ CHRISTINE TISCARENO buy 5 M 23 12 month 01.08.2012
Banco Sabadell JORGE GONZALEZ SADORNIL buy 5 M 20 Not Provided 30.07.2012
Natixis ANNE PUMIR buy 5 M 21 Not Provided 13.07.2012
Investec STUART JOYNER sell 1 M 15 12 month 02.07.2012
Morgan Stanley MARTIJN P RATS Equalwt/In-Line 3 M 19 12 month 01.07.2012
National Bank AG MANFRED JAISFELD hold 3 D 17 Not Provided 24.05.2012
Equita SIM SpA DOMENICO GHILOTTI hold 3 M 21 12 month 04.05.2012
Pareto Securities THOMAS AARRESTAD hold 3 N #N/A N/A Not Provided 23.04.2010
Holdings By:
Eni SpA ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Rosneft Oil Company produces and markets petroleum products. The Company
explores, extracts, refines and markets oil and natural gas. Rosneft produces
oil in Western Siberia, Sakhalin, the North Caucasus, and the Arctic regions of
Russia.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (09.04.2012) 242.04
52-Week Low (21.05.2012) 188.23
Daily Volume
235.1
52-Week High % Change -2.90% Dividend Yield -
52-Week Low % Change 24.90% Beta 1.02
% 52 Week Price Range High/Low 69.76% Equity Float 1'612.26
Shares Out 30.06.2012 10'598.2 Short Int -
2'491'631.75 1 Yr Total Return 16.97%
Total Debt 754'000.00 YTD Return 13.95%
Preferred Stock 0.0 Adjusted BETA 1.020
Minority Interest 34'000.0 Analyst Recs 18
Cash and Equivalents 162'000.00 Consensus Rating 3.889
Enterprise Value 3'219'631.67
Average Volume 5 Day 22'537'920
ROSN RM EQUITY YTD Change - Average Volume 30 Day 11'056'560
ROSN RM EQUITY YTD % CHANGE - Average Volume 3 Month 9'407'702
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
1'258'514.8 1'716'596.1 1'472'000.0 1'915'000.0 2'702'000.0 ######### ######### ######### ######### 757'058.0 759'514.0
2.36x 0.84x 2.10x 1.42x 0.99x 4.58x 3.41x 1.02x 0.95x 4.09x 4.21x
358'176.5 422'686.1 425'000.0 582'000.0 646'000.0 647'156.5 554'156.5 617'487.2 666'248.3 176'484.0 179'993.0
8.30x 3.40x 7.29x 4.68x 4.15x 4.27x 4.73x 5.21x 4.83x - -
328'897.5 276'681.7 155'000.0 293'000.0 316'000.0 360'256.8 278'415.9 314'206.0 333'673.8 94'930.0 94'069.0
7.21x 3.24x 15.60x 7.16x 6.49x 6.68x 7.04x 7.18x 7.51x - -
EBITDA 646'000.00 Long-Term Rating Date 25.07.2012
EBIT 433'000.00 Long-Term Rating BBB- *-
Operating Margin 16.03% Long-Term Outlook -
Pretax Margin 14.99% Short-Term Rating Date -
Return on Assets 8.74% Short-Term Rating -
Return on Common Equity 15.01%
Return on Capital 11.01% EBITDA/Interest Exp. 34.00
Asset Turnover 0.92% (EBITDA-Capex)/Interest Exp. 13.42
Net Debt/EBITDA 1.25
Gross Margin - Total Debt/EBITDA 1.50
EBITDA Margin 18.9%
EBIT Margin 12.0% Total Debt/Equity 37.1%
Net Income Margin 11.7% Total Debt/Capital 26.7%
Asset Turnover 0.92
Current Ratio 1.97 Net Fixed Asset Turnover 1.40
Quick Ratio 0.85 Accounts receivable turnover-days 20.59
Debt to Assets 22.33% Inventory Days -
Tot Debt to Common Equity 37.05% Accounts Payable Turnover Day -
Accounts Receivable Turnover 17.77 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Rosneft OAOPrice/Volume
Valuation Analysis
38'582'490.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
-
2-
.--
.2-
/--
/2-
l&.. k&.. a&.. g&./ c&./ j&./ W&./ j&./ g&./ g&./ W&./ p&./ l&./'- G
.-'- G
/-'- G
0-'- G
1-'- G
2-'- G
3-'- G
0.0
500'000.0
1'000'000.0
1'500'000.0
2'000'000.0
2'500'000.0
3'000'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-'--
.'--
/'--
0'--
1'--
2'--
3'--
4'--
5'--
6'--
.-'--
-1'-.'/--6 -1'-4'/--6 -1'-.'/-.- -1'-4'/-.- -1'-.'/-.. -1'-4'/-.. -1'-.'/-./ -1'-4'/-./
FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
ROSNEFTEGAZ n/a Co File 7'965'590'385 75.16 - 31.12.2011 Government
RN-RAZVITIYE n/a Co File 1'010'006'338 9.53 - 31.12.2011 Unclassified
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 15'583'815 0.15 544'090 22.10.2012 Investment Advisor
KHUDAINATOV EDUARD Y n/a Co File 6'411'898 0.06 - 06.06.2012 n/a
VANGUARD GROUP INC Multiple Portfolios MF-AGG 4'810'800 0.05 (3'722'804) 30.09.2012 Investment Advisor
URALSIB JSC Multiple Portfolios MF-AGG 2'182'880 0.02 2'059'230 31.05.2012 Investment Advisor
SWEDBANK ROBUR FONDE Multiple Portfolios MF-AGG 1'770'000 0.02 (3'437'031) 30.06.2012 Investment Advisor
KALANDA LARISA n/a Co File 1'250'585 0.01 - 06.06.2012 n/a
PICTET & CIE Multiple Portfolios MF-AGG 1'034'600 0.01 87'000 31.07.2012 Mutual Fund Manager
HANDELSBANKEN FONDER Multiple Portfolios MF-AGG 756'153 0.01 - 30.09.2012 Investment Advisor
FEDOROV PAVEL n/a Co File 731'274 0.01 - 31.12.2011 n/a
RN-STROY LLC n/a Research 667'685 0.01 - 31.03.2011 Unclassified
DEKA INTERNATIONAL S Multiple Portfolios MF-AGG 642'000 0.01 43'000 30.11.2011 Mutual Fund Manager
DEKA INVESTMENT GMBH Multiple Portfolios MF-AGG 540'000 0.01 200'000 20.06.2012 Mutual Fund Manager
BANK OF MOSCOW Multiple Portfolios MF-AGG 513'856 0 162'162 29.06.2012 Bank
RUDLOFF HANS-JOERG n/a Research 508'713 0 - 02.08.2012 n/a
AMERIPRISE FINANCIAL Multiple Portfolios MF-AGG 437'422 0 (192'894) 31.08.2012 Investment Advisor
SANPAOLO IMI ASSET M Multiple Portfolios MF-AGG 421'076 0 (1'227) 30.06.2011 Mutual Fund Manager
KAPITAL ASSET MANAGE n/a Research 405'530 0 - 25.04.2012 Investment Advisor
SEB FONDFORVALTNING Multiple Portfolios MF-AGG 375'500 0 187'750 30.06.2012 Mutual Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
UFS-Finance Investment Company ILYA BALAKIREV hold 3 M 230 Not Provided 24.10.2012
Credit Suisse ZOLTAN PALFI underperform 1 M 175 Not Provided 23.10.2012
Nomos Bank DENIS BORISOV hold 3 M 240 Not Provided 23.10.2012
Otkritie Capital ALEXANDER BURGANSKY buy 5 M 280 12 month 22.10.2012
Uralsib ALEXEI KOKIN buy 5 M 237 Not Provided 17.10.2012
Deutsche Bank PAVEL KUSHNIR hold 3 M 215 12 month 02.10.2012
Infina Investment Company ALEXANDER IVANISCHEV buy 5 M 333 Not Provided 01.10.2012
VTB Capital DMITRY LOUKASHOV buy 5 M 287 12 month 19.09.2012
EVA Dimensions TEAM COVERAGE hold 3 D #N/A N/A Not Provided 05.09.2012
HSBC ILDAR KHAZIEV underweight 1 D 171 Not Provided 29.08.2012
Veles Capital VASILIY TANURKOV buy 5 N 305 Not Provided 24.08.2012
Alfa-Bank MARIYA YEGIKYAN equalweight 3 N 261 Not Provided 02.08.2012
RMG Securities MIKHAIL LOSHININ buy 5 M 295 Not Provided 12.07.2012
Raiffeisenbank AG ANDREY POLISCHUK buy 5 N 258 12 month 02.07.2012
IFC Metropol SERGEY VAKHRAMEEV buy 5 M 251 12 month 18.04.2012
Sberbank CIB OLEG MAXIMOV hold 3 D 253 Not Provided 07.02.2012
Aton LLC ELENA SAVCHIK buy 5 M 277 12 month 20.01.2012
Societe Generale EVGENY SOLOVYOV hold 3 M 260 12 month 30.08.2011
JPMorgan NADIA KAZAKOVA neutral 3 M 287 12 month 31.03.2011
Holdings By:
Rosneft OAO ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Statoil ASA explores for, produces, transports, refines, and trades oil and
natural gas. The Company explores for oil in Europe, Africa, the Middle East,
Asia, and the Americas.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (14.03.2012) 162.80
52-Week Low (26.06.2012) 133.20
Daily Volume
142.3
52-Week High % Change -12.65% Dividend Yield -
52-Week Low % Change 6.83% Beta 0.89
% 52 Week Price Range High/Low 30.41% Equity Float 945.74
Shares Out 23.10.2012 3'188.6 Short Int -
453'744.50 1 Yr Total Return 3.60%
Total Debt 131'458.00 YTD Return -3.08%
Preferred Stock 0.0 Adjusted BETA 0.888
Minority Interest 6'239.0 Analyst Recs 38
Cash and Equivalents 60'474.00 Consensus Rating 3.526
Enterprise Value 490'988.49
Average Volume 5 Day 2'848'175
STL NO EQUITY YTD Change - Average Volume 30 Day 3'293'814
STL NO EQUITY YTD % CHANGE - Average Volume 3 Month 3'052'492
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
521'665.0 651'977.0 462'292.0 526'950.0 645'599.0 574'346.0 721'688.0 719'248.2 666'247.0 156'875.9 161'707.6
1.09x 0.63x 1.16x 0.98x 0.88x 3.46x 2.80x 0.72x 0.79x 3.14x 3.05x
175'967.0 240'545.0 173'918.0 186'787.0 261'870.0 229'027.0 277'664.0 264'361.5 249'064.9 56'317.7 65'075.9
3.23x 1.71x 3.08x 2.77x 2.16x 2.07x 1.76x 1.86x 1.97x 2.02x 1.99x
44'096.0 43'265.0 18'313.0 38'082.0 78'787.0 66'250.0 77'428.0 54'749.9 54'607.5 11'774.9 14'081.5
12.25x 8.39x 25.17x 11.58x 6.20x 6.56x 5.81x 8.38x 8.33x 8.65x 8.42x
EBITDA 261'870.00 Long-Term Rating Date 03.08.2007
EBIT 210'520.00 Long-Term Rating AA-
Operating Margin 32.61% Long-Term Outlook STABLE
Pretax Margin 33.12% Short-Term Rating Date 03.08.2007
Return on Assets 10.80% Short-Term Rating A-1+
Return on Common Equity 28.74%
Return on Capital - EBITDA/Interest Exp. 95.12
Asset Turnover 1.01% (EBITDA-Capex)/Interest Exp. 64.22
Net Debt/EBITDA 0.13
Gross Margin 50.5% Total Debt/EBITDA 0.43
EBITDA Margin 38.5%
EBIT Margin 30.3% Total Debt/Equity 47.1%
Net Income Margin 12.2% Total Debt/Capital 31.6%
Asset Turnover 1.01
Current Ratio 1.16 Net Fixed Asset Turnover 1.86
Quick Ratio 0.86 Accounts receivable turnover-days -
Debt to Assets 17.10% Inventory Days 24.77
Tot Debt to Common Equity 47.13% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle 41.00
Inventory Turnover 14.78
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Statoil ASAPrice/Volume
Valuation Analysis
2'543'721.00
Current Price (10/dd/yy) Market Data
-/-1-3-5-
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200'000.0
300'000.0
400'000.0
500'000.0
600'000.0
700'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
MINISTRY OF PETROLEU n/a EXCH 2'136'393'559 67 - 15.10.2012 Corporation
BANK OF NEW YORK MEL n/a EXCH 126'078'868 3.95 - 15.10.2012 Investment Advisor
GOVERNMENT PENSION F n/a EXCH 106'305'084 3.33 - 15.10.2012 Government
STATE STREET BANK AN n/a EXCH 97'232'316 3.05 - 15.10.2012 Bank
CLEARSTREAM BANKING n/a EXCH 64'375'398 2.02 - 15.10.2012 Bank
NORTHERN TRUST CO n/a EXCH 36'591'041 1.15 - 15.10.2012 Investment Advisor
JP MORGAN CHASE BANK n/a EXCH 28'481'676 0.89 - 15.10.2012 Investment Advisor
SIX SIS AG n/a EXCH 21'638'727 0.68 - 15.10.2012 Bank
VANGUARD GROUP INC Multiple Portfolios MF-AGG 17'740'505 0.56 942'426 30.06.2012 Investment Advisor
DNB NOR ASSET MANAGE Multiple Portfolios MF-AGG 17'239'816 0.54 (148'565) 28.09.2012 Investment Advisor
FRANKLIN RESOURCES I Multiple Portfolios MF-AGG 11'640'573 0.37 (73'406) 28.09.2012 Investment Advisor
WADDELL & REED FINAN Multiple Portfolios MF-AGG 11'465'900 0.36 4'828'400 30.06.2012 Investment Advisor
STOREBRAND FUND MANA Multiple Portfolios MF-AGG 9'909'647 0.31 (241'431) 30.09.2012 Investment Advisor
LEGAL & GENERAL ASSU n/a EXCH 8'355'762 0.26 - 15.10.2012 Unclassified
EUROCLEAR BANK SA n/a EXCH 8'336'655 0.26 - 15.10.2012 Bank
WILLIAM BLAIR & COMP WILLIAM BLAIR & COMP 13F 7'778'818 0.24 144'679 30.06.2012 Investment Advisor
SWEDBANK ROBUR FONDE Multiple Portfolios MF-AGG 5'881'947 0.18 2'051'166 30.06.2012 Investment Advisor
DEUTSCHE BANK AG Multiple Portfolios MF-AGG 5'641'195 0.18 69'418 28.09.2012 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 5'090'076 0.16 - 22.10.2012 Investment Advisor
ODIN FORVALTNING AS Multiple Portfolios MF-AGG 3'325'000 0.1 - 28.09.2012 Mutual Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Nomura THEEPAN JOTHILINGAM reduce 2 M 145 12 month 24.10.2012
Barclays RAHIM KARIM equalweight 3 D 170 Not Provided 24.10.2012
JPMorgan NITIN SHARMA underweight 1 M 145 12 month 23.10.2012
SpareBank 1 Markets AS ODDVAR BJORGAN neutral 3 D 160 12 month 23.10.2012
Tudor Pickering & Co ROBERT KESSLER accumulate 4 M 163 Not Provided 23.10.2012
Societe Generale IRENE HIMONA hold 3 M 148 12 month 22.10.2012
RBC Capital Markets PETER HUTTON top pick 5 M 175 12 month 22.10.2012
DNB Markets ESPEN HENNIE hold 3 M 160 Not Provided 22.10.2012
Swedbank First Securities TEODOR SVEEN NILSEN buy 5 M 170 Not Provided 22.10.2012
Macquarie JASON D GAMMEL neutral 3 M 160 12 month 19.10.2012
Nordea Equity Research HELGE ANDRE MARTINSEN sell 1 M 145 12 month 19.10.2012
ABG Sundal Collier JOHN A SCHJ OLAISEN buy 5 M 180 6 month 18.10.2012
Carnegie MARTIN VOLD buy 5 M #N/A N/A Not Provided 18.10.2012
Canaccord Genuity Corp GORDON GRAY buy 5 M 185 12 month 18.10.2012
Handelsbanken ANNE GJOEN accumulate 4 M 165 Not Provided 18.10.2012
Exane BNP Paribas CHARLES RIOU outperform 5 M 190 Not Provided 18.10.2012
AlphaValue ALEXANDRE ANDLAUER reduce 2 M 152 6 month 18.10.2012
Goldman Sachs MICHELE DELLA VIGNA neutral/cautious 3 M 165 12 month 17.10.2012
Credit Suisse KIM FUSTIER underperform 1 M 161 Not Provided 15.10.2012
Sanford C. Bernstein & Co OSWALD CLINT market perform 3 M 135 12 month 12.10.2012
Pareto Securities SIGURD-ERIK NISSEN-MEYER buy 5 M 200 6 month 11.10.2012
Grupo Santander JASON KENNEY underweight 1 D 155 Not Provided 18.09.2012
Jefferies BRENDAN MICHAEL WARN buy 5 M 200 12 month 17.09.2012
Morgan Stanley HAYTHEM RASHED Underwt/In-Line 1 M 143 12 month 13.09.2012
Danske Markets ENDRE STORLOKKEN buy 5 M 165 12 month 03.09.2012
Deutsche Bank MARK BLOOMFIELD hold 3 D 170 12 month 30.07.2012
S&P Capital IQ CHRISTINE TISCARENO buy 5 M 184 12 month 30.07.2012
Landesbank Baden-Wuerttemberg ACHIM WITTMANN buy 5 M 175 Not Provided 27.07.2012
SEB Enskilda LARS HENRIK ROREN buy 5 M 163 Not Provided 27.07.2012
Arctic Securities ASA TROND OMDAL buy 5 M 180 Not Provided 26.07.2012
HSBC PAUL SPEDDING neutral 3 M 155 Not Provided 24.07.2012
Investec STUART JOYNER hold 3 M 150 12 month 02.07.2012
Fondsfinans AS MORTEN EVJENTH LINDBACK buy 5 N 185 Not Provided 08.05.2012
EVA Dimensions TEAM COVERAGE buy 5 M #N/A N/A Not Provided 30.11.2011
CA Cheuvreux DOMINIQUE PATRY underperform 1 M 155 Not Provided 16.11.2011
Simmons & Company International JEFFREY A DIETERT overweight 5 M #N/A N/A Not Provided 08.08.2011
Holdings By:
Statoil ASA ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
BG Group plc specializes in the exploration, production, transmission and
distribution of gas, oil and liquefied natural gas. The Group also develops,
owns and operates gas-fired power generation plants.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (28.02.2012) 1'554.00
52-Week Low (01.06.2012) 1'177.00
Daily Volume
1318
52-Week High % Change -15.12% Dividend Yield 1.18
52-Week Low % Change 11.98% Beta 1.21
% 52 Week Price Range High/Low 35.68% Equity Float 3'259.67
Shares Out 01.10.2012 3'401.4 Short Int -
44'830.30 1 Yr Total Return 0.51%
Total Debt 15'137.00 YTD Return -3.10%
Preferred Stock 0.0 Adjusted BETA 1.210
Minority Interest 291.0 Analyst Recs 29
Cash and Equivalents 3'601.00 Consensus Rating 4.379
Enterprise Value 82'361.84
Average Volume 5 Day 5'389'962
BG/ LN EQUITY YTD Change - Average Volume 30 Day 6'159'360
BG/ LN EQUITY YTD % CHANGE - Average Volume 3 Month 5'377'117
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
16'588.8 23'270.8 15'992.8 17'166.0 21'073.0 18'413.0 22'511.0 23'092.8 24'119.9 5'581.7 6'039.3
4.98x 2.83x 4.28x 4.68x 4.22x 17.79x 14.97x 3.66x 3.65x 14.97x 13.50x
7'575.1 11'459.5 8'440.4 8'672.0 10'026.0 9'375.0 10'409.0 11'411.9 13'262.7 2'604.0 2'870.5
10.91x 5.75x 8.10x 9.27x 8.87x 9.30x 7.67x 7.22x 6.21x 6.85x 6.41x
3'493.4 5'790.9 3'394.9 3'351.0 4'234.0 3'629.0 3'898.0 4'720.5 5'563.4 1'096.5 1'176.5
22.30x 10.25x 17.40x 20.19x 17.08x 21.01x 18.96x 15.08x 13.02x 13.67x 12.67x
EBITDA 10'026.00 Long-Term Rating Date -
EBIT 7'735.00 Long-Term Rating -
Operating Margin 36.71% Long-Term Outlook -
Pretax Margin 35.83% Short-Term Rating Date -
Return on Assets 6.46% Short-Term Rating -
Return on Common Equity 13.47%
Return on Capital 9.49% EBITDA/Interest Exp. 22.04
Asset Turnover 0.37% (EBITDA-Capex)/Interest Exp. -0.60
Net Debt/EBITDA 0.99
Gross Margin - Total Debt/EBITDA 1.50
EBITDA Margin 46.2%
EBIT Margin 35.3% Total Debt/Equity 51.5%
Net Income Margin 20.1% Total Debt/Capital 33.8%
Asset Turnover 0.37
Current Ratio 1.37 Net Fixed Asset Turnover 0.64
Quick Ratio 0.67 Accounts receivable turnover-days -
Debt to Assets 24.66% Inventory Days -
Tot Debt to Common Equity 51.51% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
BG Group PLCPrice/Volume
Valuation Analysis
1'592'070.00
Current Price (10/dd/yy) Market Data
-/--1--3--5--
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0.0
5'000.0
10'000.0
15'000.0
20'000.0
25'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-'--
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5'--
.-'--
./'--
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.3'--
.5'--
-/'-.'/--6 -/'-4'/--6 -/'-.'/-.- -/'-4'/-.- -/'-.'/-.. -/'-4'/-.. -/'-.'/-./ -/'-4'/-./
FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK INV MANAGE Multiple Portfolios REG 157'002'339 4.62 (8'803'434) 01.10.2012 Investment Advisor
NORGES BANK INVESTME Multiple Portfolios REG 151'353'335 4.45 34'432'029 01.10.2012 Government
LEGAL & GENERAL INV Multiple Portfolios REG 123'402'542 3.63 (7'735'550) 01.10.2012 Investment Advisor
INVESCO LTD Multiple Portfolios REG 110'650'521 3.25 (1'087'721) 01.10.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 87'056'438 2.56 3'783'973 30.06.2012 Investment Advisor
FIDELITY INVESTMENTS Multiple Portfolios REG 66'182'650 1.95 (9'585'695) 01.10.2012 Investment Advisor
SCOTTISH WIDOWS INVE Multiple Portfolios REG 61'357'273 1.8 (4'236'263) 01.10.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios REG 60'362'224 1.77 7'032'910 01.10.2012 Investment Advisor
PEOPLES REPUBLIC OF Multiple Portfolios REG 53'899'172 1.58 2'322'067 01.10.2012 Government
GOVT OF SINGAPORE IN Multiple Portfolios REG 44'689'166 1.31 20'565'316 01.10.2012 Government
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 43'785'009 1.29 (2'784'937) 22.10.2012 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios REG 42'370'054 1.25 1'576'379 01.10.2012 Investment Advisor
STANDARD LIFE INVEST Multiple Portfolios REG 40'418'943 1.19 1'489'372 01.10.2012 Investment Advisor
ALECTA INVESTMENT MA Multiple Portfolios REG 40'085'000 1.18 (200'000) 01.10.2012 Unclassified
STATE FARM MUTUAL AU Multiple Portfolios REG 38'987'000 1.15 (66'300) 01.10.2012 Insurance Company
FIDELITY INTERNATION Multiple Portfolios MF-AGG 36'960'841 1.09 6'726'960 31.03.2012 Investment Advisor
AXA INVESTMENT MANAG Multiple Portfolios REG 36'462'193 1.07 (1'049'699) 01.10.2012 Investment Advisor
THORNBURG INVESTMENT Multiple Portfolios REG 35'146'162 1.03 4'514'972 01.10.2012 Investment Advisor
FIDELITY MANAGEMENT Multiple Portfolios MF-AGG 34'020'979 1 (2'033'967) 31.08.2012 Investment Advisor
THREADNEEDLE ASSET M Multiple Portfolios REG 32'982'470 0.97 (1'337'021) 01.10.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Nomura THEEPAN JOTHILINGAM buy 5 M 1'700 12 month 24.10.2012
Barclays RAHIM KARIM overweight 5 M 1'800 Not Provided 24.10.2012
Canaccord Genuity Corp GORDON GRAY buy 5 M 1'625 12 month 18.10.2012
AlphaValue ALEXANDRE ANDLAUER sell 1 M 1'013 6 month 18.10.2012
Goldman Sachs MICHELE DELLA VIGNA Buy/Cautious 5 M 1'780 12 month 17.10.2012
RBC Capital Markets PETER HUTTON sector perform 3 M 1'450 12 month 17.10.2012
Credit Suisse THOMAS YOICHI ADOLFF neutral 3 M 1'450 Not Provided 15.10.2012
Societe Generale IRENE HIMONA buy 5 M 1'650 12 month 11.10.2012
Sanford C. Bernstein & Co OSWALD CLINT outperform 5 M 2'020 12 month 11.10.2012
Grupo Santander JASON KENNEY buy 5 M 1'616 Not Provided 04.10.2012
Exane BNP Paribas CHARLES RIOU outperform 5 M 1'750 Not Provided 04.10.2012
Liberum Capital Ltd ANDREW WHITTOCK buy 5 M 1'557 Not Provided 04.10.2012
Macquarie JASON D GAMMEL outperform 5 M 1'950 12 month 03.10.2012
JPMorgan FREDERICK G LUCAS overweight 5 M 1'700 6 month 02.10.2012
Tudor Pickering & Co ANISH KAPADIA buy 5 U 1'600 Not Provided 24.09.2012
EVA Dimensions TEAM COVERAGE hold 3 U #N/A N/A Not Provided 24.09.2012
CA Cheuvreux JEAN-CHARLES LACOSTE suspended coverage #N/A N/A M #N/A N/A Not Provided 20.09.2012
Jefferies BRENDAN MICHAEL WARN buy 5 M 1'800 12 month 17.09.2012
Oriel Securities Ltd RICHARD GRIFFITH buy 5 M #N/A N/A Not Provided 10.09.2012
Morgan Stanley MARTIJN P RATS Equalwt/In-Line 3 D 1'450 12 month 15.08.2012
Day by Day VALERIE GASTALDY buy 5 M 1'550 3 month 07.08.2012
Investec STUART JOYNER hold 3 M 1'405 12 month 02.08.2012
Independent Research GmbH SVEN DIERMEIER hold 3 M 1'400 12 month 31.07.2012
HSBC PAUL SPEDDING overweight 5 M 1'870 Not Provided 30.07.2012
Equita SIM SpA MASSIMO BONISOLI buy 5 M 1'610 12 month 30.07.2012
S&P Capital IQ CHRISTINE TISCARENO hold 3 D 1'500 12 month 26.07.2012
Deutsche Bank LUCAS HERRMANN buy 5 M 1'700 12 month 03.07.2012
Shore Capital Stockbrokers GERARD LANE not rated #N/A N/A M #N/A N/A Not Provided 05.03.2012
Simmons & Company International JEFFREY A DIETERT overweight 5 M #N/A N/A Not Provided 01.08.2011
Holdings By:
BG Group PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
China Petroleum and Chemical Corporation (Sinopec) refines, produces and trades
petroleum and petrochemical products such as gasoline, diesel, jet fuel,
kerosene, ethylene, synthetic fibers, synthetic rubber, synthetic resins, and
chemical fertilizers. Also, The company explores for and produces crude oil and
natural gas in China.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (01.02.2012) 7.93
52-Week Low (10.07.2012) 5.75
Daily Volume
6.31
52-Week High % Change -20.43% Dividend Yield -
52-Week Low % Change 9.74% Beta 0.72
% 52 Week Price Range High/Low 25.23% Equity Float 3'836.89
Shares Out 30.06.2012 69'922.0 Short Int -
551'864.75 1 Yr Total Return -6.45%
Total Debt 240'555.00 YTD Return -8.01%
Preferred Stock 0.0 Adjusted BETA 0.723
Minority Interest 35'016.0 Analyst Recs 13
Cash and Equivalents 25'197.00 Consensus Rating 4.231
Enterprise Value 882'105.75
Average Volume 5 Day 32'204'300
600028 CH EQUITY YTD Change - Average Volume 30 Day 24'024'320
600028 CH EQUITY YTD % CHANGE - Average Volume 3 Month 21'375'700
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
1'170'539.0 1'387'077.0 1'212'168.0 1'876'758.0 2'463'767.0 ######### ######### ######### ######### 690'513.0 -
1.73x 0.59x 1.09x 0.48x 0.35x 1.56x 1.35x 0.35x 0.35x - -
127'499.0 29'228.0 151'545.0 178'098.0 170'962.0 0.0 0.0 162'538.5 196'286.0 - -
15.87x 27.82x 8.73x 5.03x 5.05x 0.00x 0.00x 5.43x 4.49x - -
56'515.0 28'445.0 62'677.0 71'782.0 73'225.0 75'523.0 55'155.0 54'824.0 71'019.8 11'670.0 -
16.90x 12.59x 8.42x 7.62x 7.84x 7.47x 8.86x 9.33x 8.14x - -
EBITDA 170'962.00 Long-Term Rating Date 16.12.2010
EBIT 107'146.00 Long-Term Rating A+
Operating Margin 4.35% Long-Term Outlook STABLE
Pretax Margin 4.24% Short-Term Rating Date -
Return on Assets 4.92% Short-Term Rating -
Return on Common Equity 11.76%
Return on Capital - EBITDA/Interest Exp. 18.19
Asset Turnover 2.17% (EBITDA-Capex)/Interest Exp. 4.17
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin 3.5% Total Debt/Equity 50.9%
Net Income Margin 3.0% Total Debt/Capital 32.2%
Asset Turnover 2.17
Current Ratio 0.77 Net Fixed Asset Turnover 3.53
Quick Ratio 0.25 Accounts receivable turnover-days 14.33
Debt to Assets 21.02% Inventory Days 33.97
Tot Debt to Common Equity 50.93% Accounts Payable Turnover Day 28.15
Accounts Receivable Turnover 25.53 Cash Conversion Cycle -
Inventory Turnover 10.77
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
China Petroleum & Chemical CorpPrice/Volume
Valuation Analysis
10'263'986.00
Current Price (10/dd/yy) Market Data
-
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500'000.0
1'000'000.0
1'500'000.0
2'000'000.0
2'500'000.0
3'000'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
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-/'-.'/--6 -/'-4'/--6 -/'-.'/-.- -/'-4'/-.- -/'-.'/-.. -/'-4'/-.. -/'-.'/-./ -/'-4'/-./
FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CHINA PETROCHEMICAL n/a EXCH 65'797'127'692 94.1 - 09.01.2012 Government
GUOTAI JUNAN SECURIT n/a EXCH 254'483'524 0.36 - 03.03.2010 Investment Advisor
HUAAN FUND MANAGEMEN Multiple Portfolios MF-AGG 140'539'464 0.2 59'955'516 31.12.2011 Investment Advisor
CHINA LIFE INSURANCE n/a EXCH 113'667'653 0.16 - 03.03.2010 Government
CHINA ASSET MANAGEME Multiple Portfolios MF-AGG 83'642'326 0.12 30'235'918 31.12.2011 Investment Advisor
HARVEST FUND MANAGEM Multiple Portfolios MF-AGG 73'399'784 0.1 (27'117'658) 31.12.2011 Investment Advisor
CHINA SOUTHERN FUND Multiple Portfolios MF-AGG 45'123'228 0.06 3'402'138 31.12.2011 Investment Advisor
YINHUA FUND MANAGEME Multiple Portfolios MF-AGG 40'190'710 0.06 (36'009'201) 31.12.2011 Investment Advisor
CHANGSHENG SEPARABLE n/a EXCH 34'526'814 0.05 - 03.03.2010 n/a
E FUND MANAGEMENT Multiple Portfolios MF-AGG 34'162'400 0.05 (4'000'026) 31.12.2011 Investment Advisor
SOCIAL SECURITY FUND n/a EXCH 33'242'732 0.05 - 03.03.2010 Pension Fund (ERISA)
PICC LIFE INSURANCE n/a EXCH 29'099'737 0.04 - 03.03.2010 Insurance Company
CHANGSHENG FUND MANA Multiple Portfolios MF-AGG 28'039'325 0.04 26'737'859 31.12.2011 Investment Advisor
CHINA UNIVERSAL ASSE Multiple Portfolios MF-AGG 19'850'786 0.03 228'696 31.12.2011 Investment Advisor
GTJA ALLIANZ FUND MA Multiple Portfolios MF-AGG 19'530'010 0.03 6'916'533 31.12.2011 Investment Advisor
BANK OF COMMUNICATIO Multiple Portfolios MF-AGG 18'744'884 0.03 (6'384'156) 31.12.2011 Investment Advisor
PING AN INSURANCE GR n/a Co File 18'000'000 0.03 - 30.06.2009 Insurance Company
CSOP ASSET MANAGEMEN Multiple Portfolios MF-AGG 15'554'468 0.02 2'224'301 24.10.2012 Investment Advisor
BOSERA FUND MANAGEME Multiple Portfolios MF-AGG 15'437'192 0.02 5'733'719 31.12.2011 Investment Advisor
HFT INVESTMENT MANAG Multiple Portfolios MF-AGG 14'103'771 0.02 2'909'010 31.12.2011 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Northeast Securities Co Ltd WEIGANG WANG buy 5 M 12 12 month 23.10.2012
Everbright Securities Co., Ltd CHENG LEI buy 5 M #N/A N/A Not Provided 22.10.2012
Goldman Sachs ARTHUR YAN Buy/Neutral 5 M 8 12 month 17.10.2012
Bank of China International LAWRENCE LAU buy 5 M 7 Not Provided 17.10.2012
SWS Research Co Ltd KAISHENG LIN buy 5 U #N/A N/A Not Provided 11.09.2012
Citic Securities Co., Ltd HUANG LILI buy 5 M 9 6 month 10.09.2012
Capital Securities Corp TEAM COVERAGE hold 3 D #N/A N/A Not Provided 27.08.2012
Masterlink Securities LI XIN hold 3 M 7 Not Provided 26.07.2012
HSBC THOMAS C HILBOLDT underweight 1 D 6 Not Provided 29.06.2012
Guodu Securities Co Ltd WANG SHUANG strong buy 5 M #N/A N/A Not Provided 11.06.2012
Hong Yuan Securities CHAI QINHU neutral 3 M 8 6 month 26.03.2012
PingAn Securities DU ZHIQIANG buy 5 M #N/A N/A Not Provided 18.11.2011
China Investment Securities ZHEJIAN SONG buy 5 M #N/A N/A Not Provided 07.09.2011
China International Capital Corp BIN GUAN buy 5 M 12 12 month 29.08.2011
Jefferies LABAN YU buy 5 N 10 12 month 25.05.2011
China Minzu Securities Co Ltd CAIXIA FU add 4 M 9 6 month 07.04.2011
Founder Securities ZHENGHUA ZHANG add 4 N 12 6 month 25.01.2011
China Securities Co., Ltd LIANG BIN add 4 N 10 Not Provided 08.12.2010
HuaChuang Securities GAO LI buy 5 M #N/A N/A Not Provided 06.12.2010
Central China Securities LI LINLIN add 4 M #N/A N/A Not Provided 17.11.2010
China Galaxy Securities LI GUOHONG buy 5 M 13 12 month 08.06.2010
Industrial Securities ZHENG FANGBIAO buy 5 M #N/A N/A Not Provided 22.03.2010
Sealand Securities LILI LIU add 4 M #N/A N/A Not Provided 28.08.2009
Holdings By:
China Petroleum & Chemical Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
ConocoPhillips explores for, produces, transports and markets crude oil,
natural gas, natural gas liquids, liquefied natural gas and bitumen on a
worldwide basis.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (19.03.2012) 59.68
52-Week Low (25.11.2011) 50.41
Daily Volume
56.06
52-Week High % Change -6.07% Dividend Yield 4.71
52-Week Low % Change 11.20% Beta 0.98
% 52 Week Price Range High/Low 60.93% Equity Float 1'211.89
Shares Out 30.06.2012 1'214.5 Short Int 23.41
68'087.64 1 Yr Total Return 6.67%
Total Debt 22'623.00 YTD Return 5.57%
Preferred Stock 0.0 Adjusted BETA 0.979
Minority Interest 510.0 Analyst Recs 22
Cash and Equivalents 6'361.00 Consensus Rating 3.545
Enterprise Value 90'523.64
Average Volume 5 Day 5'653'740
COP US EQUITY YTD Change - Average Volume 30 Day 6'098'587
COP US EQUITY YTD % CHANGE - Average Volume 3 Month 6'412'740
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
171'500.0 225'424.0 136'016.0 175'752.0 230'859.0 207'103.0 182'437.0 100'014.0 52'319.0 12'515.7 13'716.7
0.93x 0.46x 0.77x 0.63x 0.48x 2.20x 2.32x 0.85x 1.66x 6.79x 6.16x
30'681.0 35'740.0 17'606.0 22'655.0 26'270.0 24'432.0 22'894.0 22'888.3 22'814.9 5'114.5 5'595.0
5.22x 2.92x 5.94x 4.91x 4.20x 4.86x 3.94x 3.96x 3.97x 4.15x 4.03x
11'891.0 (16'998.0) 4'414.0 11'358.0 12'436.0 11'526.0 11'210.0 7'034.5 7'102.2 1'512.4 1'720.8
9.12x 4.81x 15.52x 11.50x 8.31x 10.70x 7.19x 10.15x 9.50x 10.14x 9.64x
EBITDA 26'270.00 Long-Term Rating Date 07.02.2012
EBIT 18'336.00 Long-Term Rating A
Operating Margin 7.94% Long-Term Outlook STABLE
Pretax Margin 9.96% Short-Term Rating Date 07.02.2012
Return on Assets 8.18% Short-Term Rating A-1
Return on Common Equity 19.32%
Return on Capital 14.38% EBITDA/Interest Exp. 17.99
Asset Turnover 1.33% (EBITDA-Capex)/Interest Exp. 8.91
Net Debt/EBITDA 0.96
Gross Margin 9.5% Total Debt/EBITDA 1.00
EBITDA Margin 12.5%
EBIT Margin 8.7% Total Debt/Equity 34.7%
Net Income Margin 5.4% Total Debt/Capital 25.6%
Asset Turnover 1.33
Current Ratio 1.08 Net Fixed Asset Turnover 2.35
Quick Ratio 0.75 Accounts receivable turnover-days 22.30
Debt to Assets 14.76% Inventory Days 9.19
Tot Debt to Common Equity 34.69% Accounts Payable Turnover Day 31.58
Accounts Receivable Turnover 16.42 Cash Conversion Cycle 0.77
Inventory Turnover 39.83
Fiscal Year Ended
ConocoPhillipsPrice/Volume
Valuation Analysis
6'853'487.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
-
.-
/-
0-
1-
2-
3-
4-
l&.. k&.. a&.. g&./ c&./ j&./ W&./ j&./ g&./ g&./ W&./ p&./ l&./'- G
2'- G
.-'- G
.2'- G
/-'- G
/2'- G
0-'- G
02'- G
1-'- G
0.0
50'000.0
100'000.0
150'000.0
200'000.0
250'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-'--
.'--
/'--
0'--
1'--
2'--
3'--
-/'-.'/--6 -/'-4'/--6 -/'-.'/-.- -/'-4'/-.- -/'-.'/-.. -/'-4'/-.. -/'-.'/-./ -/'-4'/-./
FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VANGUARD GROUP INC VANGUARD GROUP INC 13F 54'513'582 4.49 330'737 30.06.2012 Investment Advisor
STATE STREET CORP STATE STREET CORPORA 13F 50'406'316 4.15 (51'752) 30.06.2012 Investment Advisor
BLACKROCK INSTITUTIO BLACKROCK INSTITUTIO 13F 36'132'640 2.97 2'109'864 30.06.2012 Investment Advisor
BERKSHIRE HATHAWAY I BERKSHIRE HATHAWAY I 13F 28'868'637 2.38 (232'300) 30.06.2012 Investment Advisor
CAPITAL WORLD INVEST CAPITAL WORLD INVEST 13F 26'298'000 2.17 - 30.06.2012 Investment Advisor
WADDELL & REED FINAN WADDELL & REED FINAN 13F 22'761'790 1.87 (864'607) 30.06.2012 Investment Advisor
BARROW HANLEY MEWHIN BARROW HANLEY MEWHIN 13F 20'981'731 1.73 (167'218) 30.06.2012 Investment Advisor
CAPITAL RESEARCH GLO CAPITAL RESEARCH GLO 13F 20'652'860 1.7 (14'847'000) 30.06.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 19'948'890 1.64 126'745 30.09.2012 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 18'210'380 1.5 1'107'060 30.06.2012 Investment Advisor
BLACKROCK GROUP LIMI BLACKROCK GROUP LIMI 13F 13'237'211 1.09 (867'469) 30.06.2012 Investment Advisor
BLACKROCK FUND ADVIS BLACKROCK FUND ADVIS 13F 11'983'324 0.99 10'604 30.06.2012 Investment Advisor
DIMENSIONAL FUND ADV DIMENSIONAL FUND ADV 13F 11'170'710 0.92 (59'552) 30.06.2012 Investment Advisor
FRANKLIN RESOURCES I FRANKLIN ADVISERS IN 13F 10'241'620 0.84 (424'570) 30.06.2012 Investment Advisor
AMERIPRISE FINANCIAL AMERIPRISE FINANCIAL 13F 10'186'360 0.84 1'411'644 30.06.2012 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 9'974'501 0.82 (2'838'378) 30.06.2012 Investment Advisor
LSV ASSET MANAGEMENT LSV ASSET MANAGEMENT 13F 9'820'940 0.81 (419'735) 30.06.2012 Investment Advisor
JP MORGAN CHASE & CO JP MORGAN CHASE & CO 13F 9'498'470 0.78 (4'039'243) 30.06.2012 Investment Advisor
NORGES BANK NORGES BANK 13F 9'228'191 0.76 9'228'191 31.12.2011 Government
NFJ INVESTMENT GROUP NFJ INVESTMENT GROUP 13F 9'158'100 0.75 2'185'050 30.06.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
JPMorgan KATHERINE LUCAS MINYARD overweight 5 M 65 12 month 24.10.2012
Barclays PAUL Y CHENG equalweight 3 M 62 Not Provided 23.10.2012
Alembic Global Advisors JAMES J SULLIVAN neutral 3 M 65 12 month 22.10.2012
Oppenheimer & Co FADEL GHEIT outperform 5 M 65 18 month 19.10.2012
Goldman Sachs ARJUN N MURTI neutral/attractive 3 U 55 6 month 17.10.2012
ISI Group DOUGLAS T TERRESON buy 5 M 64 12 month 17.10.2012
Argus Research Corp PHILIP H WEISS buy 5 M #N/A N/A Not Provided 16.10.2012
Tudor Pickering & Co ROBERT KESSLER hold 3 M 56 Not Provided 16.10.2012
Jefferies IAIN REID hold 3 M 60 12 month 15.10.2012
Credit Suisse EDWARD WESTLAKE neutral 3 M 65 Not Provided 12.10.2012
Deutsche Bank PAUL SANKEY hold 3 M 62 12 month 10.10.2012
Edward Jones BRIAN YOUNGBERG buy 5 M #N/A N/A Not Provided 09.10.2012
Raymond James PAVEL MOLCHANOV underperform 1 M #N/A N/A Not Provided 08.10.2012
Societe Generale JOHN HERRLIN buy 5 M 65 12 month 05.10.2012
Macquarie JASON D GAMMEL neutral 3 M 55 12 month 03.10.2012
EVA Dimensions TEAM COVERAGE buy 5 U #N/A N/A Not Provided 11.08.2012
Morgan Stanley J EVAN CALIO Underwt/Attractive 1 M 55 12 month 26.07.2012
S&P Capital IQ MICHAEL KAY buy 5 M 64 Not Provided 25.07.2012
Howard Weil Inc BLAKE FERNANDEZ restricted #N/A N/A M #N/A N/A Not Provided 01.05.2012
RBC Capital Markets SCOTT HANOLD outperform 5 M 63 12 month 24.04.2012
Simmons & Company International JEFFREY A DIETERT overweight 5 M #N/A N/A Not Provided 14.07.2011
Holdings By:
ConocoPhillips ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Occidental Petroleum Corporation explores for, develops, produces, and markets
crude oil and natural gas. The Company also manufactures and markets a variety
of basic chemicals, vinyls and performance chemicals. Occidental also gathers,
treats, processes, transports, stores, trades and markets crude oil, natural
gas, NGLs, condensate and carbon dioxide (CO2) and generates and markets power.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (28.02.2012) 106.68
52-Week Low (01.06.2012) 76.59
Daily Volume
81.28
52-Week High % Change -23.81% Dividend Yield 2.46
52-Week Low % Change 6.12% Beta 1.36
% 52 Week Price Range High/Low 15.59% Equity Float 797.93
Shares Out 30.06.2012 809.9 Short Int 6.06
65'832.52 1 Yr Total Return -4.75%
Total Debt 5'871.00 YTD Return -11.67%
Preferred Stock 0.0 Adjusted BETA 1.360
Minority Interest 0.0 Analyst Recs 24
Cash and Equivalents 3'781.00 Consensus Rating 4.417
Enterprise Value 69'042.52
Average Volume 5 Day 4'292'451
OXY US EQUITY YTD Change - Average Volume 30 Day 4'506'510
OXY US EQUITY YTD % CHANGE - Average Volume 3 Month 3'936'327
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
18'784.0 24'217.0 14'814.0 19'045.0 23'939.0 21'725.0 24'076.0 24'180.6 25'141.8 5'641.5 5'610.8
3.38x 2.05x 4.58x 4.32x 3.26x 14.77x 12.04x 2.88x 2.72x 12.51x 12.57x
10'232.0 14'622.0 7'755.0 10'816.0 14'168.0 12'635.0 13'695.0 14'217.4 15'934.4 3'386.3 3'577.0
6.20x 3.39x 8.75x 7.61x 5.51x 6.87x 5.31x 4.86x 4.33x 4.74x 4.55x
5'400.0 6'857.0 2'915.0 4'530.0 6'771.0 5'769.0 6'292.0 5'596.9 6'213.6 1'305.0 1'546.0
15.62x 6.70x 21.02x 17.12x 11.41x 14.41x 11.05x 11.69x 10.65x 11.48x 10.96x
EBITDA 14'168.00 Long-Term Rating Date 23.06.2008
EBIT 10'577.00 Long-Term Rating A
Operating Margin 44.18% Long-Term Outlook STABLE
Pretax Margin 45.29% Short-Term Rating Date 23.06.2008
Return on Assets 10.59% Short-Term Rating A-1
Return on Common Equity 16.83%
Return on Capital 14.69% EBITDA/Interest Exp. 47.54
Asset Turnover 0.41% (EBITDA-Capex)/Interest Exp. 22.32
Net Debt/EBITDA 0.23
Gross Margin 51.6% Total Debt/EBITDA 0.56
EBITDA Margin 56.9%
EBIT Margin 40.1% Total Debt/Equity 15.6%
Net Income Margin 28.3% Total Debt/Capital 13.5%
Asset Turnover 0.41
Current Ratio 1.45 Net Fixed Asset Turnover 0.53
Quick Ratio 1.15 Accounts receivable turnover-days 79.82
Debt to Assets 9.78% Inventory Days 39.95
Tot Debt to Common Equity 15.61% Accounts Payable Turnover Day 151.41
Accounts Receivable Turnover 4.59 Cash Conversion Cycle -43.68
Inventory Turnover 9.16
Fiscal Year Ended
Occidental Petroleum CorpPrice/Volume
Valuation Analysis
4'087'953.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
-
/-
1-
3-
5-
.--
./-
l&.. k&.. a&.. g&./ c&./ j&./ W&./ j&./ g&./ g&./ W&./ p&./ l&./'- G
/'- G
1'- G
3'- G
5'- G
.-'- G
./'- G
0.0
5'000.0
10'000.0
15'000.0
20'000.0
25'000.0
30'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-'--
/'--
1'--
3'--
5'--
.-'--
./'--
-/'-.'/--6 -/'-4'/--6 -/'-.'/-.- -/'-4'/-.- -/'-.'/-.. -/'-4'/-.. -/'-.'/-./ -/'-4'/-./
FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VANGUARD GROUP INC VANGUARD GROUP INC 13F 34'254'022 4.23 (218'290) 30.06.2012 Investment Advisor
STATE STREET CORP STATE STREET CORPORA 13F 32'926'098 4.07 1'101'151 30.06.2012 Investment Advisor
FIDELITY MANAGEMENT FIDELITY MANAGEMENT 13F 26'521'610 3.27 (4'430'027) 30.06.2012 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 26'466'940 3.27 (179'349) 30.06.2012 Investment Advisor
JP MORGAN CHASE & CO JP MORGAN CHASE & CO 13F 23'137'003 2.86 6'262'326 30.06.2012 Investment Advisor
BLACKROCK INSTITUTIO BLACKROCK INSTITUTIO 13F 21'737'086 2.68 1'286'159 30.06.2012 Investment Advisor
DODGE & COX DODGE & COX 13F 16'853'663 2.08 (88'601) 30.06.2012 Investment Advisor
DAVIS SELECTED ADVIS DAVIS SELECTED ADVIS 13F 15'238'618 1.88 (1'112'321) 30.06.2012 Investment Advisor
BARROW HANLEY MEWHIN BARROW HANLEY MEWHIN 13F 13'942'929 1.72 (169'684) 30.06.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 13'505'816 1.67 (592'093) 30.09.2012 Investment Advisor
MASSACHUSETTS FINANC MASSACHUSETTS FINANC 13F 12'868'720 1.59 772'280 30.06.2012 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 10'217'509 1.26 947'184 30.06.2012 Investment Advisor
JENNISON ASSOCIATES JENNISON ASSOCIATES 13F 9'432'772 1.16 2'155'697 30.06.2012 Investment Advisor
NEUBERGER BERMAN LLC NEUBERGER BERMAN GRO 13F 9'060'856 1.12 (1'034'521) 30.06.2012 Investment Advisor
CAPITAL WORLD INVEST CAPITAL WORLD INVEST 13F 8'198'900 1.01 (584'244) 30.06.2012 Investment Advisor
AMERIPRISE FINANCIAL AMERIPRISE FINANCIAL 13F 8'114'736 1 (2'012'883) 30.06.2012 Investment Advisor
TIAA CREF INVESTMENT TIAA-CREF INVESTMENT 13F 8'097'800 1 (344'163) 30.06.2012 Investment Advisor
IRANI RAY R n/a Form 4 7'978'867 0.99 175'316 20.07.2012 n/a
BLACKROCK ADVISERS BLACKROCK ADVISORS L 13F 7'868'306 0.97 1'269'785 30.06.2012 Investment Advisor
BLACKROCK FUND ADVIS BLACKROCK FUND ADVIS 13F 7'863'539 0.97 (179'432) 30.06.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
JPMorgan KATHERINE LUCAS MINYARD overweight 5 M 114 12 month 24.10.2012
Argus Research Corp PHILIP H WEISS buy 5 M #N/A N/A Not Provided 23.10.2012
Capital One Southcoast, Inc. ELIOT JAVANMARDI add 4 M 120 Not Provided 23.10.2012
Susquehanna Financial Group DUANE GRUBERT neutral 3 M 94 12 month 23.10.2012
Oppenheimer & Co FADEL GHEIT outperform 5 M 110 18 month 19.10.2012
Goldman Sachs ARJUN N MURTI buy/attractive 5 M 101 6 month 17.10.2012
ISI Group DOUGLAS T TERRESON buy 5 M 115 12 month 17.10.2012
Tudor Pickering & Co MATTHEW PORTILLO buy 5 M 119 Not Provided 17.10.2012
RBC Capital Markets LEO P MARIANI sector perform 3 M 93 12 month 16.10.2012
Credit Suisse EDWARD WESTLAKE outperform 5 M 114 Not Provided 12.10.2012
Sterne, Agee & Leach TIM A REZVAN buy 5 M 112 12 month 12.10.2012
Macquarie JASON D GAMMEL outperform 5 M 137 12 month 11.10.2012
Deutsche Bank PAUL SANKEY buy 5 M 100 12 month 10.10.2012
S&P Capital IQ MICHAEL KAY buy 5 M 100 Not Provided 10.10.2012
Edward Jones BRIAN YOUNGBERG buy 5 M #N/A N/A Not Provided 09.10.2012
Raymond James PAVEL MOLCHANOV market perform 3 M #N/A N/A Not Provided 08.10.2012
Societe Generale JOHN HERRLIN buy 5 M 95 12 month 05.10.2012
Barclays THOMAS R DRISCOLL equalweight 3 M 98 Not Provided 05.10.2012
Howard Weil Inc PETER KISSEL market outperform 4 M 119 12 month 23.08.2012
EVA Dimensions TEAM COVERAGE overweight 5 D #N/A N/A Not Provided 11.08.2012
Morgan Stanley J EVAN CALIO Equalwt/Attractive 3 M 100 12 month 19.07.2012
Simmons & Company International JEFFREY A DIETERT overweight 5 M #N/A N/A Not Provided 04.10.2011
Holdings By:
Occidental Petroleum Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
LUKOIL explores for, produces, refines, transports, and markets oil and gas,
mainly from Western Siberia. The Company also manufactures petrochemicals,
fuels, and other petroleum products. LUKOIL operates refineries, and gasoline
filling stations in Russia and the United States. The Company transports oil
through pipelines, and petroleum products with its fleet of ships.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (18.09.2012) 2'045.90
52-Week Low (18.05.2012) 1'500.00
Daily Volume
1928.8
52-Week High % Change -5.73% Dividend Yield -
52-Week Low % Change 28.59% Beta 0.91
% 52 Week Price Range High/Low 80.55% Equity Float 811.08
Shares Out 30.06.2012 850.6 Short Int -
1'640'566.50 1 Yr Total Return 13.59%
Total Debt 9'092.00 YTD Return 18.41%
Preferred Stock 0.0 Adjusted BETA 0.906
Minority Interest (172.0) Analyst Recs 21
Cash and Equivalents 2'910.00 Consensus Rating 4.238
Enterprise Value 57'333.87
Average Volume 5 Day 1'732'379
LKOH RM EQUITY YTD Change - Average Volume 30 Day 1'602'276
LKOH RM EQUITY YTD % CHANGE - Average Volume 3 Month 1'497'816
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
66'858.0 86'340.0 68'025.0 86'078.0 133'650.0 110'201.0 136'770.0 131'379.9 132'037.0 33'442.5 33'767.5
1.15x 0.41x 0.84x 0.62x 0.35x 2.06x 1.39x 0.44x 0.46x 1.76x 1.72x
15'366.0 17'092.0 14'096.0 16'050.0 17'628.0 18'847.0 16'139.0 18'586.1 19'021.9 4'946.5 4'831.0
4.99x 2.07x 4.05x 3.32x 2.67x 2.99x 2.90x 3.08x 3.01x - -
9'511.0 9'144.0 7'011.0 9'006.0 10'357.0 11'772.0 8'396.0 10'869.8 10'936.6 2'796.5 2'680.0
7.38x 3.00x 6.82x 5.17x 3.99x 4.28x 5.11x 4.47x 4.52x - -
EBITDA 17'628.00 Long-Term Rating Date 12.11.2010
EBIT 13'155.00 Long-Term Rating BBB-
Operating Margin 9.84% Long-Term Outlook POS
Pretax Margin 9.82% Short-Term Rating Date -
Return on Assets 9.08% Short-Term Rating -
Return on Common Equity 12.67%
Return on Capital 11.07% EBITDA/Interest Exp. 25.40
Asset Turnover 1.48% (EBITDA-Capex)/Interest Exp. 13.51
Net Debt/EBITDA 0.32
Gross Margin - Total Debt/EBITDA 0.55
EBITDA Margin 11.8%
EBIT Margin 8.5% Total Debt/Equity 13.4%
Net Income Margin 7.7% Total Debt/Capital 11.9%
Asset Turnover 1.48
Current Ratio 2.12 Net Fixed Asset Turnover 2.37
Quick Ratio 1.07 Accounts receivable turnover-days 21.94
Debt to Assets 9.97% Inventory Days -
Tot Debt to Common Equity 13.44% Accounts Payable Turnover Day -
Accounts Receivable Turnover 16.68 Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Lukoil OAOPrice/Volume
Valuation Analysis
1'762'572.00
Current Price (10/dd/yy) Market Data
-
2--
.---
.2--
/---
/2--
l&.. k&.. a&.. g&./ c&./ j&./ W&./ j&./ g&./ g&./ W&./ p&./ l&./'- G
.'- G
/'- G
0'- G
1'- G
2'- G
3'- G
4'- G
5'- G
0.0
20'000.0
40'000.0
60'000.0
80'000.0
100'000.0
120'000.0
140'000.0
160'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-'--
.'--
/'--
0'--
1'--
2'--
3'--
-1'-.'/--6 -1'-4'/--6 -1'-.'/-.- -1'-4'/-.- -1'-.'/-.. -1'-4'/-.. -1'-.'/-./ -1'-4'/-./
FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
ALEKPEROV VAGIT Y n/a Research 16'101'163 1.89 - 19.01.2012 n/a
FEDUN LEONID ARNOLID n/a Research 9'951'591 1.17 - 10.02.2012 n/a
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 5'921'827 0.7 174'298 22.10.2012 Investment Advisor
KUKURA SERGEI PETROV n/a Research 3'285'726 0.39 - 14.02.2012 n/a
MAGANOV RAVIL ULIFAT n/a Research 3'147'084 0.37 - 03.02.2012 n/a
KHOBA LYUBOV NIKOLAE n/a Co File 2'934'443 0.35 - 30.09.2011 n/a
VANGUARD GROUP INC Multiple Portfolios MF-AGG 2'917'612 0.34 311'348 30.09.2012 Investment Advisor
MATYTSYN ALEXANDER K n/a Co File 2'526'173 0.3 - 30.09.2011 n/a
FIDELITY INTERNATION Multiple Portfolios MF-AGG 2'042'177 0.24 1'904'777 30.12.2011 Investment Advisor
SWEDBANK ROBUR FONDE Multiple Portfolios MF-AGG 1'688'255 0.2 - 30.06.2012 Investment Advisor
HANDELSBANKEN FONDER Multiple Portfolios MF-AGG 691'357 0.08 - 30.09.2012 Investment Advisor
KAPITAL ASSET MANAGE n/a Research 654'420 0.08 - 25.04.2012 Investment Advisor
MIKHAILOV SERGEI ANA n/a Research 501'832 0.06 - 31.12.2011 n/a
URALSIB JSC Multiple Portfolios MF-AGG 471'563 0.06 (120'344) 31.05.2012 Investment Advisor
PICTET & CIE Multiple Portfolios MF-AGG 415'550 0.05 41'900 31.07.2012 Mutual Fund Manager
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 395'575 0.05 - 22.10.2012 Investment Advisor
DEKA INTERNATIONAL S Multiple Portfolios MF-AGG 395'000 0.05 25'000 30.11.2011 Mutual Fund Manager
STATE STREET CORP Multiple Portfolios MF-AGG 309'110 0.04 (6'719) 31.08.2012 Investment Advisor
NEKRASOV VLADIMIR IV n/a Research 306'203 0.04 8'506 30.01.2012 n/a
DEUTSCHE BANK AG Multiple Portfolios MF-AGG 300'000 0.04 - 31.08.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
JPMorgan ANDREY GROMADIN neutral 3 M 2'286 12 month 24.10.2012
Uralsib ALEXEI KOKIN buy 5 M 2'153 Not Provided 17.10.2012
VTB Capital DMITRY LOUKASHOV buy 5 M 4'060 12 month 17.10.2012
Otkritie Capital ALEXANDER BURGANSKY buy 5 M 2'243 Not Provided 08.10.2012
Deutsche Bank PAVEL KUSHNIR buy 5 M 2'900 12 month 02.10.2012
Infina Investment Company ALEXANDER IVANISCHEV hold 3 D 2'153 Not Provided 01.10.2012
Morgan Stanley PAVEL SOROKIN Overwt/In-Line 5 M 2'327 12 month 23.09.2012
Nomos Bank DENIS BORISOV hold 3 D 2'159 Not Provided 17.09.2012
Alfa-Bank MARIYA YEGIKYAN overweight 5 N 2'225 Not Provided 03.09.2012
Credit Suisse ZOLTAN PALFI neutral 3 M 1'700 Not Provided 31.08.2012
HSBC ILDAR KHAZIEV overweight 5 M 2'416 Not Provided 29.08.2012
Veles Capital VASILIY TANURKOV buy 5 N 3'609 Not Provided 24.08.2012
RMG Securities MIKHAIL LOSHININ buy 5 M 2'579 Not Provided 12.07.2012
Raiffeisenbank AG ANDREY POLISCHUK hold 3 N 1'870 12 month 02.07.2012
UFS-Finance Investment Company ILYA BALAKIREV buy 5 M 2'580 Not Provided 07.06.2012
EVA Dimensions TEAM COVERAGE buy 5 M #N/A N/A Not Provided 09.05.2012
IFC Metropol SERGEY VAKHRAMEEV buy 5 M 2'105 12 month 18.04.2012
ING Wholesale Banking IGOR KURINNYY hold 3 M 2'061 12 month 22.03.2012
Aton LLC ELENA SAVCHIK sell 1 M 1'540 12 month 20.01.2012
Sberbank CIB OLEG MAXIMOV buy 5 U 2'229 Not Provided 05.07.2011
Societe Generale EVGENY SOLOVYOV buy 5 M 2'400 12 month 26.05.2011
Otkritie Capital VADIM MITROSHIN hold 3 M 2'055 12 month 22.03.2010
Holdings By:
Lukoil OAO ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Suncor Energy, Inc. is a integrated energy company focused on developing the
Athabasca oil sands basin. The Company extracts and upgrades oil sands into
refinery feedstock and diesel fuel, explores for, develops and produces natural
gas, refines crude oil and markets a range of petroleum and petrochemical
products, and operates crude oil pipelines and retail petroleum stations.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (24.02.2012) 37.28
52-Week Low (01.06.2012) 26.96
Daily Volume
32.66
52-Week High % Change -12.39% Dividend Yield 1.41
52-Week Low % Change 21.14% Beta 1.57
% 52 Week Price Range High/Low 55.23% Equity Float 1'534.29
Shares Out 28.09.2012 1'535.9 Short Int 19.79
50'161.41 1 Yr Total Return 6.45%
Total Debt 10'779.00 YTD Return 12.50%
Preferred Stock 0.0 Adjusted BETA 1.575
Minority Interest 0.0 Analyst Recs 24
Cash and Equivalents 3'803.00 Consensus Rating 4.750
Enterprise Value 55'785.41
Average Volume 5 Day 5'637'393
SU CN EQUITY YTD Change - Average Volume 30 Day 6'934'330
SU CN EQUITY YTD % CHANGE - Average Volume 3 Month 5'923'036
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
18'535.0 28'609.0 24'404.0 32'003.0 39'337.0 34'897.0 39'823.0 40'101.7 41'798.0 9'930.7 10'663.4
2.87x 1.03x 2.93x 2.22x 1.34x 7.97x 5.28x 1.39x 1.30x 5.60x 5.23x
4'179.0 5'083.0 2'859.0 8'190.0 11'175.0 9'578.0 11'835.0 11'432.4 11'819.2 2'705.3 2'952.3
12.73x 5.79x 24.98x 8.69x 4.72x 7.02x 4.32x 4.88x 4.72x 4.86x 4.65x
2'983.0 2'137.0 1'146.0 3'829.0 4'304.0 4'100.0 4'504.0 4'855.7 5'258.8 1'201.9 1'163.3
19.58x 8.47x 29.77x 22.92x 8.30x 13.13x 8.41x 10.22x 10.00x 10.16x 9.79x
EBITDA 11'175.00 Long-Term Rating Date 28.07.2009
EBIT 7'223.00 Long-Term Rating BBB+
Operating Margin 18.36% Long-Term Outlook STABLE
Pretax Margin 17.97% Short-Term Rating Date 17.10.2011
Return on Assets 6.23% Short-Term Rating A-2
Return on Common Equity 11.86%
Return on Capital - EBITDA/Interest Exp. 9.16
Asset Turnover 0.55% (EBITDA-Capex)/Interest Exp. 3.55
Net Debt/EBITDA 0.48
Gross Margin 40.5% Total Debt/EBITDA 0.91
EBITDA Margin 29.7%
EBIT Margin 18.7% Total Debt/Equity 27.9%
Net Income Margin 10.9% Total Debt/Capital 21.8%
Asset Turnover 0.55
Current Ratio 1.37 Net Fixed Asset Turnover 0.71
Quick Ratio 0.89 Accounts receivable turnover-days 42.54
Debt to Assets 14.41% Inventory Days 55.42
Tot Debt to Common Equity 27.92% Accounts Payable Turnover Day 107.57
Accounts Receivable Turnover 8.60 Cash Conversion Cycle 0.88
Inventory Turnover 6.60
Fiscal Year Ended
Suncor Energy IncPrice/Volume
Valuation Analysis
7'631'025.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
-
2
.-
.2
/-
/2
0-
02
1-
l&.. k&.. a&.. g&./ c&./ j&./ W&./ j&./ g&./ g&./ W&./ p&./'- G/'- G1'- G3'- G5'- G.-'- G./'- G.1'- G.3'- G.5'- G
0.0
5'000.0
10'000.0
15'000.0
20'000.0
25'000.0
30'000.0
35'000.0
40'000.0
45'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-'--
2'--
.-'--
.2'--
/-'--
/2'--
-/'-.'/--6 -/'-4'/--6 -/'-.'/-.- -/'-4'/-.- -/'-.'/-.. -/'-4'/-.. -/'-.'/-./ -/'-4'/-./
FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CAPITAL WORLD INVEST CAPITAL WORLD INVEST 13F 67'094'245 4.37 (4'378'176) 30.06.2012 Investment Advisor
RBC GLOBAL ASSET MAN RBC GLOBAL ASSET MGM 13F 40'608'198 2.64 3'474'921 30.06.2012 Investment Advisor
CI INVESTMENTS INC Multiple Portfolios MF-AGG 40'019'006 2.61 4'324'140 30.06.2012 Hedge Fund Manager
BMO FINANCIAL CORP BMO FINANCIAL CORP 13F 35'489'011 2.31 (3'890'598) 30.09.2012 Investment Advisor
PYRAMIS GLOBAL ADVIS PYRAMIS GLOBAL ADVIS 13F 33'854'650 2.2 (4'377'239) 30.06.2012 Investment Advisor
TD ASSET MANAGEMENT TD ASSET MANAGEMENT 13F 32'303'084 2.1 465'151 30.06.2012 Investment Advisor
CAPITAL RESEARCH GLO Multiple Portfolios MF-AGG 31'198'020 2.03 - 30.09.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 29'787'716 1.94 1'240'918 30.09.2012 Investment Advisor
FIDELITY MANAGEMENT FIDELITY MANAGEMENT 13F 24'718'466 1.61 1'432'002 30.06.2012 Investment Advisor
CIBC WORLD MARKETS I CIBC WORLD MARKETS I 13F 23'217'554 1.51 1'975'735 30.06.2012 Investment Advisor
CIBC GLOBAL ASSET MA CIBC GLOBAL ASSET MA 13F 22'951'276 1.49 1'512'054 30.06.2012 Investment Advisor
IG INVESTMENT MANAGE IG INVESTMENT MANAGE 13F 22'407'822 1.46 (1'229'219) 30.06.2012 Investment Advisor
JARISLOWSKY FRASER L JARISLOWSKY FRASER L 13F 21'621'157 1.41 2'128'388 30.06.2012 Investment Advisor
CAISSE DE DEPOT ET P CAISSE DE DEPOT ET P 13F 18'195'949 1.18 38'500 30.06.2012 Investment Advisor
FIERA SCEPTRE INC FIERA SCEPTRE INC 13F 17'505'114 1.14 8'333'925 30.06.2012 Investment Advisor
INVESCO LTD INVESCO LTD 13F 17'094'665 1.11 (1'156'911) 30.06.2012 Investment Advisor
IA CLARINGTON INVEST Multiple Portfolios MF-AGG 16'033'983 1.04 287'300 31.03.2012 Investment Advisor
GREYSTONE MANAGED IN GREYSTONE MANAGED IN 13F 14'521'881 0.95 (1'732'190) 30.06.2012 Investment Advisor
WENTWORTH HAUSER AND WENTWORTH HAUSER AND 13F 14'095'868 0.92 397'501 30.06.2012 Investment Advisor
GREAT WEST LIFE ASSU GREAT WEST LIFE ASSU 13F 12'173'071 0.79 12'285 30.06.2012 Insurance Company
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
JPMorgan KATHERINE LUCAS MINYARD neutral 3 M 44 12 month 23.10.2012
TD Securities MENNO HULSHOF buy 5 M 42 12 month 23.10.2012
National Bank Financial KYLE PRESTON outperform 5 M 43 12 month 23.10.2012
Barclays PAUL Y CHENG overweight 5 M 48 Not Provided 23.10.2012
BMO Capital Markets RANDY J OLLENBERGER outperform 5 M 41 Not Provided 22.10.2012
Canaccord Genuity Corp PHILIP R SKOLNICK buy 5 M 45 12 month 22.10.2012
EVA Dimensions TEAM COVERAGE buy 5 M #N/A N/A Not Provided 22.10.2012
RBC Capital Markets GREG M PARDY outperform 5 M 44 12 month 21.10.2012
CIBC World Markets ANDREW POTTER sector outperform 5 M 42 18 month 19.10.2012
Macquarie CHRIS FELTIN outperform 5 M 40 12 month 18.10.2012
Goldman Sachs ARJUN N MURTI buy/attractive 5 M 37 6 month 17.10.2012
Credit Suisse BRIAN C DUTTON outperform 5 M 49 Not Provided 12.10.2012
Deutsche Bank PAUL SANKEY hold 3 M 36 12 month 10.10.2012
NCP Northland Capital Partners Inc ROBERT PLEXMAN sector perform 3 M 39 12 month 09.10.2012
Peters & Co Ltd KAM S SANDHAR sector outperform 5 U 38 12 month 05.10.2012
Simmons & Company International JEFFREY A DIETERT overweight 5 M #N/A N/A Not Provided 05.10.2012
Raymond James JUSTIN BOUCHARD outperform 5 M 37 12 month 01.10.2012
Edward Jones LANNY PENDILL buy 5 M #N/A N/A Not Provided 26.09.2012
FirstEnergy Capital Corp MICHAEL P DUNN outperform 5 M 38 12 month 17.09.2012
Stifel Nicolaus AMIR ARIF buy 5 M 38 12 month 05.09.2012
Veritas Investment Research Co SAM LA BELL buy 5 M 47 Not Provided 26.07.2012
Scotia Capital MARK POLAK sector outperform 5 M 42 12 month 24.07.2012
Holdings By:
Suncor Energy Inc ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Reliance Industries Ltd. manufactures petrochemicals, synthetic fibers, fiber
intermediates, textiles, blended yarn and polyester staple fiber. The Company
also owns a petroleum refinery cum petrochemicals complex in Jamnagar, India
that produces a wide range of products such as gasoline, superior kerosene oil
and liquefied petroleum gas.
Latest Fiscal Year: 03/2012
LTM as of: 01/yy
52-Week High (04.11.2011) 905.00
52-Week Low (16.05.2012) 673.05
Daily Volume
809.95
52-Week High % Change -10.50% Dividend Yield 1.05
52-Week Low % Change 20.34% Beta 1.06
% 52 Week Price Range High/Low 59.02% Equity Float 1'543.81
Shares Out 01.10.2012 3'274.6 Short Int -
2'652'223.00 1 Yr Total Return -3.16%
Total Debt 924'470.00 YTD Return 18.29%
Preferred Stock 0.0 Adjusted BETA 1.061
Minority Interest 7'990.0 Analyst Recs 50
Cash and Equivalents 679'040.00 Consensus Rating 3.120
Enterprise Value 2'905'643.08
Average Volume 5 Day 4'377'377
RIL IN EQUITY YTD Change - Average Volume 30 Day 4'486'736
RIL IN EQUITY YTD % CHANGE - Average Volume 3 Month 3'882'571
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.03.2008 31.03.2009 31.03.2010 31.03.2011 31.03.2012 01/yy 01/yy 03/13 Y 03/14 Y 12/12 Q3 03/13 Q4
1'371'466.6 1'512'240.1 2'037'397.2 2'658'106.0 3'585'010.0 - - ######### ######### - -
2.72x 1.99x 1.78x 1.35x 0.69x - - 0.80x 0.84x - -
222'702.8 242'169.1 303'332.8 380'722.6 351'080.0 - - 331'411.4 346'974.0 - -
16.76x 12.44x 11.96x 9.40x 7.09x - - 8.77x 8.37x - -
195'678.3 149'687.2 245'031.4 192'936.8 197'240.0 - - 202'096.4 214'618.4 - -
16.83x 14.09x 13.05x 16.20x 11.35x - - 12.69x 11.94x - -
EBITDA 351'080.00 Long-Term Rating Date 23.11.2005
EBIT 227'070.00 Long-Term Rating BBB
Operating Margin 6.33% Long-Term Outlook POS
Pretax Margin 7.09% Short-Term Rating Date -
Return on Assets 6.22% Short-Term Rating -
Return on Common Equity 12.19%
Return on Capital 8.54% EBITDA/Interest Exp. 16.05
Asset Turnover 1.13% (EBITDA-Capex)/Interest Exp. 8.56
Net Debt/EBITDA 0.70
Gross Margin - Total Debt/EBITDA 2.63
EBITDA Margin 9.8%
EBIT Margin 6.3% Total Debt/Equity 54.6%
Net Income Margin 5.5% Total Debt/Capital 35.2%
Asset Turnover 1.13
Current Ratio 1.82 Net Fixed Asset Turnover 2.70
Quick Ratio 1.07 Accounts receivable turnover-days 16.66
Debt to Assets 28.25% Inventory Days -
Tot Debt to Common Equity 54.56% Accounts Payable Turnover Day -
Accounts Receivable Turnover 21.97 Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Reliance Industries LtdPrice/Volume
Valuation Analysis
2'806'440.00
Current Price (10/dd/yy) Market Data
-.--/--0--1--2--3--4--5--6--
.---
l&.. k&.. a&.. g&./ c&./ j&./ W&./ j&./ g&./ g&./ W&./ p&./'- G
/'- G
1'- G
3'- G
5'- G
.-'- G
./'- G
0.0
500'000.0
1'000'000.0
1'500'000.0
2'000'000.0
2'500'000.0
3'000'000.0
3'500'000.0
4'000'000.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
-'--
2'--
.-'--
.2'--
/-'--
/2'--
0-'--
-2'-1'/--6 -2'.-'/--6 -2'-1'/-.- -2'.-'/-.- -2'-1'/-.. -2'.-'/-.. -2'-1'/-./ -2'.-'/-./
FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
LIFE INSURANCE CORP n/a Co File 251'894'910 7.69 - 30.06.2012 Government
KANKHAL INVES & TRAD n/a Co File 148'490'952 4.53 - 30.06.2012 n/a
BHUVANESH ENTERPRISE n/a Co File 134'616'811 4.11 - 30.06.2012 n/a
BADRI COMMERCIALS LL n/a Co File 127'041'799 3.88 - 30.06.2012 n/a
AJITESH ENTERPRISES n/a Co File 127'041'799 3.88 - 30.06.2012 Other
ABHAYAPRADA ENTERPRI n/a Co File 124'514'168 3.8 - 30.06.2012 n/a
TRILOKESH COMMERCIAL n/a Co File 124'513'168 3.8 - 30.06.2012 n/a
PETROLEUM TRUST n/a Co File 120'471'003 3.68 - 30.06.2012 n/a
TARAN ENTERPRISES LL n/a Co File 106'373'069 3.25 - 30.06.2012 n/a
PITAMBAR ENTERPRISES n/a Co File 104'900'070 3.2 - 30.06.2012 n/a
FARM ENTERPRISES LTD n/a Co File 92'077'290 2.81 - 30.06.2012 n/a
ADISESH ENTERPRISES n/a Co File 81'099'093 2.48 - 30.06.2012 Other
RELIANCE CHEMICALS P n/a Co File 62'239'998 1.9 - 30.06.2012 n/a
PAVANA ENTERPRISES L n/a Co File 61'673'400 1.88 - 30.06.2012 n/a
RELIANCE POLYOLEFINS n/a Co File 61'194'924 1.87 - 30.06.2012 n/a
RISHIKESH ENTERPRISE n/a Co File 60'409'418 1.84 - 30.06.2012 n/a
VANGUARD GROUP INC Multiple Portfolios MF-AGG 58'951'943 1.8 1'000'840 30.06.2012 Investment Advisor
JANUS CAPITAL MANAGE Multiple Portfolios MF-AGG 40'242'144 1.23 15'889 30.06.2012 Investment Advisor
FRANKLIN RESOURCES I n/a Co File 39'612'971 1.21 - 30.06.2012 Investment Advisor
GOVT OF SINGAPORE IN n/a Co File 39'434'159 1.2 - 30.06.2012 Government
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Sanford C. Bernstein & Co NEIL BEVERIDGE market perform 3 M 800 12 month 19.10.2012
Daiwa Securities Co. Ltd. NIRMAL RAGHAVAN neutral 3 M 810 Not Provided 19.10.2012
Batlivala & Karani Securities BHAVIN GANDHI outperform 5 M 810 Not Provided 19.10.2012
Goldman Sachs NILESH BANERJEE Buy/Neutral 5 M 1'010 12 month 17.10.2012
KR Choksey Shares & Sec Pvt Ltd YOGESH S PATIL accumulate 4 M 875 12 month 17.10.2012
Standard Chartered RAHUL SINGH in-line 3 M 817 12 month 16.10.2012
Credit Suisse SANJAY MOOKIM outperform 5 M 865 Not Provided 16.10.2012
JPMorgan BRYNJAR EIRIK BUSTNES underweight 1 M 675 3 month 16.10.2012
Prabhudas Lilladher Pvt Ltd DEEPAK PAREEK reduce 2 M 805 12 month 16.10.2012
JM Financial Institutional Securities P MEHUL THANAWALA hold 3 M 781 12 month 16.10.2012
BNP Paribas Equity Research AMIT SHAH hold 3 M 795 12 month 16.10.2012
Motilal Oswal Securities Ltd HARSHAD BORAWAKE neutral 3 M 780 12 month 16.10.2012
IDBI Capital Market Services Ltd SUDEEP ANAND hold 3 M 825 12 month 16.10.2012
Emkay Share & Stock Brokers JAGDISH MEGHNANI hold 3 M 827 Not Provided 16.10.2012
HDFC Securities AISHWARYA DEEPAK outperform 5 M 855 12 month 16.10.2012
Tata Securities Limited SWARNENDU BHUSHAN hold 3 M 758 12 month 16.10.2012
LKP Shares and Securities Ltd CHIRAG DHAIFULE neutral 3 M 803 Not Provided 16.10.2012
Religare Capital Markets BALLABH MODANI hold 3 M 790 12 month 16.10.2012
Brics Securities NILESH RAMESH GHUGE add 4 M 854 Not Provided 16.10.2012
India Infoline PRAYESH JAIN market perform 3 M 780 9 month 16.10.2012
Antique Stock Broking Limited AMIT RUSTAGI hold 3 M 820 Not Provided 16.10.2012
Systematix Shares & Stocks Ltd SUDARSHAN NARASIMHAN hold 3 M 866 12 month 16.10.2012
Ambit Capital Pvt Ltd DAYANAND MITTAL sell 1 M 758 12 month 16.10.2012
IIFL BHASKAR CHAKRABORTY reduce 2 M 740 12 month 16.10.2012
Quant Broking Pvt Ltd GAGAN DIXIT reduce 2 D 784 12 month 16.10.2012
Centrum Broking Pvt Ltd ROHIT NAGRAJ neutral 3 M 808 Not Provided 16.10.2012
Elara Securities India Pvt Ltd ALOK DESHPANDE accumulate 4 U 900 12 month 16.10.2012
Equirus Securities Pvt Ltd MAULIK PATEL sell 1 M 710 12 month 16.10.2012
BOB Capital Markets NEELABH SHARMA reduce 2 D 853 12 month 16.10.2012
Morgan Stanley VINAY JAISING Underwt/Cautious 1 M 742 12 month 15.10.2012
Jefferies ARYA SEN hold 3 M 747 12 month 15.10.2012
HSBC KUMAR MANISH underweight 1 D 800 Not Provided 15.10.2012
Kotak Securities SANJEEV PRASAD sell 1 M 775 Not Provided 15.10.2012
ICICI Securities ROHIT AHUJA add 4 M 900 12 month 15.10.2012
Enam Securities Pvt Ltd AMIT MISHRA hold 3 M 850 Not Provided 15.10.2012
Nomura ANIL SHARMA buy 5 M 860 Not Provided 15.10.2012
IDFC Securities Ltd PRAKASH JOSHI outperform 5 M 860 Not Provided 15.10.2012
Angel Broking Limited BHAVESH CHAUHAN neutral 3 M #N/A N/A Not Provided 15.10.2012
Edelweiss Capital NIRAJ MANSINGKA buy 5 M 906 12 month 05.10.2012
Macquarie JAL IRANI neutral 3 M 820 12 month 04.10.2012
Deutsche Bank HARSHAD KATKAR buy 5 M 900 12 month 11.09.2012
EVA Dimensions TEAM COVERAGE hold 3 U #N/A N/A Not Provided 06.09.2012
IFCI Financial Services ABHIJEET BORA hold 3 M 771 12 month 22.07.2012
Holdings By:
Reliance Industries Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Oil and Natural Gas Corporation Limited specializes in the exploration and
production of crude oil and gas. The Company has joint ventures in oil fields
in Vietnam, Norway, Egypt, Tunisia, Iran and Australia. The Group's other
activities include deep sea explorations on the east and west coasts of India,
and the exploration of coal bed methane.
Latest Fiscal Year: 03/2012
LTM as of: 01/yy
52-Week High (22.02.2012) 304.25
52-Week Low (05.10.2012) 227.40
Daily Volume
276.05
52-Week High % Change -9.27% Dividend Yield 3.53
52-Week Low % Change 21.39% Beta 0.77
% 52 Week Price Range High/Low 63.31% Equity Float 1'104.97
Shares Out 01.10.2012 8'555.5 Short Int -
2'361'742.75 1 Yr Total Return 3.63%
Total Debt 159'842.06 YTD Return 11.60%
Preferred Stock 0.0 Adjusted BETA 0.768
Minority Interest 22'084.3 Analyst Recs 59
Cash and Equivalents 286'004.65 Consensus Rating 4.186
Enterprise Value 2'257'664.56
Average Volume 5 Day 1'943'513
ONGC IN EQUITY YTD Change - Average Volume 30 Day 3'389'848
ONGC IN EQUITY YTD % CHANGE - Average Volume 3 Month 2'832'071
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.03.2008 31.03.2009 31.03.2010 31.03.2011 31.03.2012 01/yy 01/yy 03/13 Y 03/14 Y 09/12 Q2 12/12 Q3
967'821.8 1'045'883.9 1'017'545.7 1'175'251.0 1'463'694.7 - - ######### ######### 221'893.0 -
2.00x 1.52x 2.24x 2.02x 1.50x - - 1.31x 1.19x - -
365'859.0 369'067.1 354'383.0 424'779.1 495'573.3 - - 574'680.1 620'294.7 98'498.0 -
5.28x 4.31x 6.43x 5.60x 4.42x - - 3.93x 3.64x - -
200'760.2 197'953.4 194'035.3 224'559.3 281'436.2 - - 257'333.6 281'195.7 60'154.0 -
10.45x 8.46x 12.11x 11.10x 8.16x - - 8.97x 8.31x - -
EBITDA 495'573.27 Long-Term Rating Date -
EBIT 366'378.95 Long-Term Rating -
Operating Margin 25.03% Long-Term Outlook -
Pretax Margin 29.24% Short-Term Rating Date -
Return on Assets 13.25% Short-Term Rating -
Return on Common Equity 22.36%
Return on Capital 20.58% EBITDA/Interest Exp. 131.20
Asset Turnover 0.69% (EBITDA-Capex)/Interest Exp. 80.53
Net Debt/EBITDA -0.25
Gross Margin - Total Debt/EBITDA 0.32
EBITDA Margin 33.9%
EBIT Margin 25.0% Total Debt/Equity 11.7%
Net Income Margin 19.2% Total Debt/Capital 10.3%
Asset Turnover 0.69
Current Ratio 1.19 Net Fixed Asset Turnover 2.07
Quick Ratio 0.80 Accounts receivable turnover-days 27.11
Debt to Assets 6.90% Inventory Days -
Tot Debt to Common Equity 11.72% Accounts Payable Turnover Day -
Accounts Receivable Turnover 13.50 Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Oil & Natural Gas Corp LtdPrice/Volume
Valuation Analysis
1'465'368.00
Current Price (10/dd/yy) Market Data
-
2-
.--
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3'- G
5'- G
.-'- G
./'- G
0.0
200'000.0
400'000.0
600'000.0
800'000.0
1'000'000.0
1'200'000.0
1'400'000.0
1'600'000.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
-'--
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1'--
2'--
3'--
4'--
5'--
6'--
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
GOVERNMENT OF INDIA n/a Co File 5'922'546'522 69.23 - 30.06.2012 Government
LIFE INSURANCE CORP n/a Co File 664'445'162 7.77 - 30.06.2012 Government
INDIAN OIL CORP LTD n/a Co File 657'923'428 7.69 - 30.06.2012 Government
GAIL INDIA LTD n/a Co File 205'601'068 2.4 - 30.06.2012 n/a
FRANKLIN RESOURCES I Multiple Portfolios MF-AGG 103'814'591 1.21 (1'397'420) 28.09.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 34'201'253 0.4 1'702'339 30.06.2012 Investment Advisor
HDFC ASSET MANAGEMEN Multiple Portfolios MF-AGG 26'566'501 0.31 (1'049) 30.09.2012 Investment Advisor
UTI ASSET MANAGEMENT Multiple Portfolios MF-AGG 14'875'399 0.17 63'801 30.09.2012 Investment Advisor
TEMPLETON ASSET MGMT Multiple Portfolios MF-AGG 14'090'929 0.16 (7'014) 30.09.2012 Mutual Fund Manager
BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 13'684'656 0.16 - 22.10.2012 Investment Advisor
SBI FUNDS MANAGEMENT Multiple Portfolios MF-AGG 11'585'295 0.14 - 30.09.2012 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 10'467'772 0.12 57'658 22.10.2012 Investment Advisor
PRUDENTIAL ICICI ASS Multiple Portfolios MF-AGG 10'295'717 0.12 (121'581) 30.09.2012 Investment Advisor
TEMPLETON INVESTMENT Multiple Portfolios MF-AGG 7'914'420 0.09 - 31.03.2011 Investment Advisor
EASTSPRING INVESTMEN Multiple Portfolios MF-AGG 7'666'861 0.09 - 16.04.2012 Investment Advisor
TATA ASSET MANAGEMEN Multiple Portfolios MF-AGG 7'383'539 0.09 (248'569) 30.09.2012 Investment Advisor
INVESTEC ASSET MANAG Multiple Portfolios MF-AGG 6'017'987 0.07 (91'973) 31.08.2012 Investment Advisor
INVESCO LTD Multiple Portfolios MF-AGG 5'907'706 0.07 (41'052) 23.10.2012 Investment Advisor
RELIANCE CAPITAL TRU Multiple Portfolios MF-AGG 5'483'977 0.06 - 30.09.2012 Other
JF ASSET MANAGEMENT Multiple Portfolios MF-AGG 4'327'101 0.05 4'327'101 30.09.2011 Mutual Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Sanford C. Bernstein & Co NEIL BEVERIDGE market perform 3 M 290 12 month 19.10.2012
BOB Capital Markets NEELABH SHARMA buy 5 M 336 Not Provided 18.10.2012
Goldman Sachs NILESH BANERJEE Buy/Neutral 5 M 350 12 month 17.10.2012
MF Global Equities Research GAURI ANAND buy 5 M 315 12 month 15.10.2012
Asian Markets Securities Pvt. Ltd SUJIT LODHA buy 5 M 329 Not Provided 15.10.2012
Emkay Share & Stock Brokers JAGDISH MEGHNANI accumulate 4 M 327 Not Provided 12.10.2012
Jefferies ARYA SEN buy 5 M 311 12 month 11.10.2012
Credit Suisse SANJAY MOOKIM neutral 3 M 315 Not Provided 10.10.2012
JM Financial Institutional Securities P MEHUL THANAWALA buy 5 M 333 Not Provided 10.10.2012
Ambit Capital Pvt Ltd DAYANAND MITTAL buy 5 M 300 12 month 10.10.2012
Enam Securities Pvt Ltd AMIT MISHRA hold 3 M 300 Not Provided 09.10.2012
Prabhudas Lilladher Pvt Ltd DEEPAK PAREEK accumulate 4 M 301 12 month 08.10.2012
Motilal Oswal Securities Ltd HARSHAD BORAWAKE buy 5 M 316 Not Provided 08.10.2012
Nomura ANIL SHARMA reduce 2 M 250 Not Provided 08.10.2012
ICICIdirect.com MAYUR MATANI buy 5 M 330 Not Provided 08.10.2012
Edelweiss Capital NIRAJ MANSINGKA buy 5 M 321 12 month 05.10.2012
Centrum Broking Pvt Ltd ROHIT NAGRAJ buy 5 M 366 Not Provided 05.10.2012
Nirmal Bang Institutional Equities ASHUTOSH BHARDWAJ hold 3 M 323 Not Provided 04.10.2012
HDFC Securities AISHWARYA DEEPAK buy 5 U 338 12 month 03.10.2012
Brics Securities SANDEEP RANDERY add 4 M 306 12 month 01.10.2012
Antique Stock Broking Limited AMIT RUSTAGI buy 5 M 306 Not Provided 01.10.2012
VTB Capital COLIN SMITH sell 1 N 290 12 month 27.09.2012
BNP Paribas Equity Research AMIT SHAH hold 3 M 298 12 month 24.09.2012
Macquarie JAL IRANI outperform 5 M 325 12 month 21.09.2012
Batlivala & Karani Securities BHAVIN GANDHI outperform 5 M 295 Not Provided 21.09.2012
Elara Securities India Pvt Ltd ALOK DESHPANDE reduce 2 M 290 Not Provided 20.09.2012
Daiwa Securities Co. Ltd. NIRMAL RAGHAVAN outperform 5 M 300 Not Provided 17.09.2012
Deutsche Bank HARSHAD KATKAR buy 5 M 335 12 month 14.09.2012
Kotak Securities SANJEEV PRASAD add 4 M 310 Not Provided 14.09.2012
ICICI Securities ROHIT AHUJA reduce 2 M 287 12 month 14.09.2012
Karvy Stock Broking Ltd VINAY V NAIR buy 5 M 321 Not Provided 14.09.2012
India Infoline TEAM COVERAGE buy 5 M 320 9 month 14.09.2012
Quant Broking Pvt Ltd GAGAN DIXIT reduce 2 M 264 12 month 14.09.2012
India Nivesh Ltd DALJEET SINGH KOHLI buy 5 M 358 Not Provided 14.09.2012
IIFL BHASKAR CHAKRABORTY add 4 M 290 12 month 13.09.2012
IDBI Capital Market Services Ltd SUDEEP ANAND hold 3 D 290 12 month 11.09.2012
SBI Capital Markets GUNJAN PODDAR add 4 D 311 12 month 10.09.2012
Religare Capital Markets BALLABH MODANI buy 5 M 335 12 month 10.09.2012
Spark Capital Advisors MAYUR PATEL add 4 M 308 12 month 10.09.2012
Morgan Stanley VINAY JAISING Equalwt/Cautious 3 M 302 12 month 29.08.2012
Standard Chartered RAHUL SINGH outperform 5 M 320 12 month 25.08.2012
LKP Shares and Securities Ltd CHIRAG DHAIFULE buy 5 M 335 Not Provided 17.08.2012
FinQuest Securities (P) Ltd. HARISHCHANDRA SABLE buy 5 M 300 Not Provided 16.08.2012
Holdings By:
Oil & Natural Gas Corp Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Imperial Oil Ltd. produces and refines natural gas and petroleum products
and manufactures petrochemicals. The Company's oil and gas operations are
concentrated in Canada.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (24.02.2012) 49.26
52-Week Low (25.11.2011) 38.87
Daily Volume
44.31
52-Week High % Change -10.05% Dividend Yield 1.04
52-Week Low % Change 14.00% Beta 1.15
% 52 Week Price Range High/Low 52.36% Equity Float 257.36
Shares Out 28.09.2012 847.6 Short Int 6.92
37'557.11 1 Yr Total Return 7.91%
Total Debt 1'207.00 YTD Return -1.59%
Preferred Stock 0.0 Adjusted BETA 1.147
Minority Interest 0.0 Analyst Recs 16
Cash and Equivalents 1'202.00 Consensus Rating 3.250
Enterprise Value 37'766.11
Average Volume 5 Day 894'994
IMO CN EQUITY YTD Change - Average Volume 30 Day 968'676
IMO CN EQUITY YTD % CHANGE - Average Volume 3 Month 843'420
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
23'762.0 29'928.0 20'024.0 23'630.0 29'154.0 26'004.0 29'471.0 30'231.4 32'257.0 7'280.5 7'602.5
2.03x 1.12x 1.70x 1.48x 1.32x 6.19x 4.94x 1.27x 1.23x 5.24x 5.04x
4'821.0 5'665.0 2'880.0 3'562.0 4'933.0 4'291.0 5'034.0 5'085.3 5'737.4 1'231.3 1'169.3
10.01x 5.89x 11.84x 9.80x 7.80x 11.70x 7.22x 7.43x 6.58x 7.98x 7.90x
3'188.0 3'878.0 1'579.0 2'210.0 3'371.0 2'724.0 3'514.0 3'184.8 3'408.9 848.0 733.0
16.86x 9.92x 22.59x 16.23x 12.04x 14.31x 10.84x 11.47x 11.47x 11.91x 11.90x
EBITDA 4'933.00 Long-Term Rating Date 29.07.2002
EBIT 4'169.00 Long-Term Rating AAA
Operating Margin 14.30% Long-Term Outlook STABLE
Pretax Margin 15.11% Short-Term Rating Date 24.07.1989
Return on Assets 14.00% Short-Term Rating A-1+
Return on Common Equity 26.00%
Return on Capital 23.88% EBITDA/Interest Exp. 259.63
Asset Turnover 1.17% (EBITDA-Capex)/Interest Exp. 53.37
Net Debt/EBITDA 0.04
Gross Margin - Total Debt/EBITDA 0.24
EBITDA Margin 17.1%
EBIT Margin 14.5% Total Debt/Equity 9.1%
Net Income Margin 11.6% Total Debt/Capital 8.3%
Asset Turnover 1.17
Current Ratio 0.85 Net Fixed Asset Turnover 1.53
Quick Ratio 0.59 Accounts receivable turnover-days 27.59
Debt to Assets 4.75% Inventory Days -
Tot Debt to Common Equity 9.06% Accounts Payable Turnover Day -
Accounts Receivable Turnover 13.26 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Imperial Oil LtdPrice/Volume
Valuation Analysis
908'715.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
-
.-
/-
0-
1-
2-
3-
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.'- G
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/'- G
/'2 G
0'- G
0'2 G
0.0
5'000.0
10'000.0
15'000.0
20'000.0
25'000.0
30'000.0
35'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-'--
2'--
.-'--
.2'--
/-'--
/2'--
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
EXXON MOBIL CORP n/a SEDI 589'928'303 69.6 (10) 30.06.2009 Corporation
JARISLOWSKY FRASER L JARISLOWSKY FRASER L 13F 10'715'785 1.26 (419'990) 30.06.2012 Investment Advisor
RBC GLOBAL ASSET MAN RBC GLOBAL ASSET MGM 13F 10'655'761 1.26 896'161 30.06.2012 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 7'885'206 0.93 (2'488'950) 30.06.2012 Investment Advisor
CAPITAL WORLD INVEST CAPITAL WORLD INVEST 13F 7'066'667 0.83 - 30.06.2012 Investment Advisor
MANUFACTURERS LIFE I MANUFACTURERS LIFE I 13F 5'316'822 0.63 929'984 30.06.2012 Insurance Company
TD ASSET MANAGEMENT TD ASSET MANAGEMENT 13F 4'589'539 0.54 26'240 30.06.2012 Investment Advisor
CAISSE DE DEPOT ET P CAISSE DE DEPOT ET P 13F 4'321'086 0.51 841'907 30.06.2012 Investment Advisor
HARTFORD INVESTMENT Multiple Portfolios MF-AGG 4'122'946 0.49 (870) 31.08.2012 Investment Advisor
TORONTO DOMINION BAN TORONTO DOMINION BAN 13F 3'803'415 0.45 (53'026) 30.06.2012 Investment Advisor
BMO FINANCIAL CORP BMO FINANCIAL CORP 13F 3'695'995 0.44 (1'175'486) 30.09.2012 Investment Advisor
GREAT WEST LIFE ASSU GREAT WEST LIFE ASSU 13F 3'409'853 0.4 390'302 30.06.2012 Insurance Company
PYRAMIS GLOBAL ADVIS PYRAMIS GLOBAL ADVIS 13F 3'218'399 0.38 (1'444'810) 30.06.2012 Investment Advisor
AMERICAN CENTURY COM AMERICAN CENTURY COM 13F 3'100'649 0.37 12'765 30.06.2012 Investment Advisor
HARDING LOEVNER LP HARDING LOEVNER LP 13F 2'903'620 0.34 178'454 30.06.2012 Investment Advisor
MARATHON ASSET MANAG MARATHON ASSET MANAG 13F 2'657'438 0.31 (918'048) 30.09.2012 Investment Advisor
NORGES BANK NORGES BANK 13F 2'497'622 0.29 2'497'622 31.12.2011 Government
CI INVESTMENTS INC Multiple Portfolios MF-AGG 2'437'218 0.29 374'400 30.06.2012 Hedge Fund Manager
TETREM CAPITAL MANAG TETREM CAPITAL MANAG 13F 2'349'804 0.28 (148'375) 30.06.2012 Hedge Fund Manager
MACKENZIE FINANCIAL MACKENZIE FINANCIAL 13F 2'344'998 0.28 (215'546) 30.06.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Macquarie CHRIS FELTIN neutral 3 M 47 12 month 18.10.2012
BMO Capital Markets RANDY J OLLENBERGER market perform 3 M 50 Not Provided 16.10.2012
RBC Capital Markets GREG M PARDY sector perform 3 M 51 12 month 16.10.2012
CIBC World Markets ANDREW POTTER sector underperform 1 M 44 Not Provided 15.10.2012
Credit Suisse BRIAN C DUTTON neutral 3 M 53 Not Provided 12.10.2012
EVA Dimensions TEAM COVERAGE buy 5 M #N/A N/A Not Provided 09.10.2012
Barclays PAUL Y CHENG overweight 5 M 60 Not Provided 05.10.2012
Edward Jones LANNY PENDILL hold 3 M #N/A N/A Not Provided 26.09.2012
FirstEnergy Capital Corp MICHAEL P DUNN market perform 3 M 50 12 month 17.09.2012
TD Securities MENNO HULSHOF hold 3 M 46 12 month 06.09.2012
Peters & Co Ltd KAM S SANDHAR sector perform 3 M 50 12 month 28.08.2012
Scotia Capital MARK POLAK sector underperform 1 M 47 12 month 26.07.2012
Veritas Investment Research Co SAM LA BELL buy 5 U 52 Not Provided 01.02.2012
Holdings By:
Imperial Oil Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
NovaTek OAO is a Russian independent producer of natural gas. The Company
explores for,produces, processes, transports and markets natural gas and liquid
hydrocarbons. The Company's primary production and processing assets are
located in the Yamal-Nenets Autonomous Region in Western Siberia.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (16.03.2012) 442.73
52-Week Low (28.06.2012) 269.66
Daily Volume
351.21
52-Week High % Change -20.67% Dividend Yield -
52-Week Low % Change 30.24% Beta 0.96
% 52 Week Price Range High/Low 47.00% Equity Float 1'222.09
Shares Out 30.06.2012 3'036.3 Short Int -
1'066'381.00 1 Yr Total Return -9.16%
Total Debt 95'478.00 YTD Return -9.32%
Preferred Stock 0.0 Adjusted BETA 0.956
Minority Interest 669.0 Analyst Recs 10
Cash and Equivalents 23'831.00 Consensus Rating 3.600
Enterprise Value 1'145'353.00
Average Volume 5 Day 1'359'928
NVTK RM EQUITY YTD Change - Average Volume 30 Day 1'599'250
NVTK RM EQUITY YTD % CHANGE - Average Volume 3 Month 1'419'869
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
62'321.0 79'272.0 89'954.0 117'024.0 176'064.0 149'013.0 190'145.0 219'246.5 274'796.5 - -
9.03x 2.06x 6.26x 9.42x 7.20x 28.45x 25.01x 5.14x 4.00x - -
29'157.0 36'798.0 39'271.0 56'200.0 88'917.0 73'878.0 91'324.0 99'126.9 126'053.3 - -
19.31x 4.43x 14.33x 19.61x 14.27x 15.51x 11.73x 11.55x 9.09x - -
18'736.0 22'899.0 26'043.0 40'533.0 119'655.0 55'486.0 117'289.0 69'823.2 90'210.1 - -
29.89x 6.43x 19.80x 25.12x 9.99x 18.90x 8.45x 15.73x 11.69x - -
EBITDA 88'917.00 Long-Term Rating Date 19.11.2010
EBIT 79'442.00 Long-Term Rating BBB-
Operating Margin 45.12% Long-Term Outlook STABLE
Pretax Margin 76.69% Short-Term Rating Date -
Return on Assets 33.83% Short-Term Rating -
Return on Common Equity 54.02%
Return on Capital 37.31% EBITDA/Interest Exp. 41.36
Asset Turnover 0.55% (EBITDA-Capex)/Interest Exp. 29.58
Net Debt/EBITDA 0.85
Gross Margin - Total Debt/EBITDA 1.03
EBITDA Margin 48.0%
EBIT Margin 42.5% Total Debt/Equity 39.6%
Net Income Margin 68.0% Total Debt/Capital 28.3%
Asset Turnover 0.55
Current Ratio 1.16 Net Fixed Asset Turnover 1.01
Quick Ratio 0.77 Accounts receivable turnover-days -
Debt to Assets 24.90% Inventory Days -
Tot Debt to Common Equity 39.62% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
NovaTek OAOPrice/Volume
Valuation Analysis
1'361'000.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
-2-
.--
.2-/--/2-0--02-1--12-
l&.. k&.. a&.. g&./ c&./ j&./ W&./ j&./ g&./ g&./ W&./ p&./ l&./'- G
.'- G
/'- G
0'- G
1'- G
2'- G
3'- G
4'- G
0.0
20'000.0
40'000.0
60'000.0
80'000.0
100'000.0
120'000.0
140'000.0
160'000.0
180'000.0
200'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-'--
2'--
.-'--
.2'--
/-'--
/2'--
0-'--
-1'-.'/--6 -1'-4'/--6 -1'-.'/-.- -1'-4'/-.- -1'-.'/-.. -1'-4'/-.. -1'-.'/-./ -1'-4'/-./
FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
SANTATA OOO n/a Co File 398'666'966 13.13 - 08.09.2011 Other
TOTAL E&P ARCTIC ROS n/a Co File 367'089'384 12.09 - 08.09.2011 Corporation
WHITE SEAL HOLDINGS n/a Research 303'545'574 10 - 30.09.2010 Other
GAZFIN CYPRUS LTD n/a Co File 303'326'960 9.99 - 08.09.2011 Unclassified
ZAO LEVIT n/a Co File 222'257'592 7.32 - 08.09.2011 Holding Company
BELONA n/a Co File 188'554'597 6.21 - 08.09.2011 Investment Advisor
SWGI GROWTH FUND CYP n/a Co File 187'036'444 6.16 - 08.09.2011 n/a
MIKHELSON LEONID V n/a Co File 14'228'129 0.47 - 31.12.2011 n/a
KUZNETSOVA TATYANA S n/a Co File 5'902'579 0.19 - 31.12.2011 n/a
POPOV MIKHAIL VIKTOR n/a Co File 4'372'281 0.14 - 31.12.2011 n/a
YANOVSKIY KIRILL NIK n/a Co File 3'191'158 0.11 - 31.12.2011 n/a
FRIDMAN ALEXANDER n/a Co File 2'186'140 0.07 - 31.12.2011 n/a
KAPITAL ASSET MANAGE n/a Research 1'915'220 0.06 - 25.04.2012 Investment Advisor
BNP PARIBAS ASSET MG Multiple Portfolios MF-AGG 1'560'646 0.05 (4'000) 31.08.2012 Investment Advisor
AMERIPRISE FINANCIAL Multiple Portfolios MF-AGG 1'340'055 0.04 557'945 31.08.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 1'240'090 0.04 30'437 30.09.2012 Investment Advisor
URALSIB JSC Multiple Portfolios MF-AGG 930'670 0.03 (72'760) 31.05.2012 Investment Advisor
BASKOV VLADIMIR ALEK n/a Co File 874'456 0.03 - 31.12.2011 n/a
DEXIA ASSET MANAGEME Multiple Portfolios MF-AGG 592'500 0.02 40'000 31.08.2012 Investment Advisor
HANDELSBANKEN FONDER Multiple Portfolios MF-AGG 485'156 0.02 42'000 30.09.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Raiffeisenbank AG ANDREY POLISCHUK buy 5 N 431 12 month 18.10.2012
Infina Investment Company ALEXANDER IVANISCHEV hold 3 M 423 Not Provided 01.10.2012
Alfa-Bank MARIYA YEGIKYAN equalweight 3 M 417 Not Provided 21.09.2012
Otkritie Capital ALEXANDER BURGANSKY hold 3 M 390 Not Provided 19.09.2012
Nomos Bank DENIS BORISOV hold 3 D 438 Not Provided 17.09.2012
EVA Dimensions TEAM COVERAGE underweight 1 D #N/A N/A Not Provided 10.09.2012
RMG Securities MIKHAIL LOSHININ buy 5 M 442 Not Provided 12.07.2012
VTB Capital DMITRY LOUKASHOV hold 3 M 412 12 month 20.03.2012
Aton LLC ELENA SAVCHIK buy 5 M 564 12 month 20.01.2012
IFC Metropol SERGEY VAKHRAMEEV buy 5 M 523 Not Provided 28.09.2011
Gazprombank ALEXANDER NAZAROV buy 5 N 475 12 month 20.05.2011
Holdings By:
NovaTek OAO ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Anadarko Petroleum Corporation is an independent oil and gas exploration and
production company with international operations. In the United States, the
Company operates in Texas and surrounding states, the Rocky Mountain region,
Alaska, and the Gulf of Mexico. Internationally, Anadarko has exploration
and/or production operations in Africa, Asia, South America, and the Caribbean.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (17.02.2012) 88.70
52-Week Low (04.06.2012) 56.42
Daily Volume
66.94
52-Week High % Change -24.53% Dividend Yield 0.54
52-Week Low % Change 18.65% Beta 1.38
% 52 Week Price Range High/Low 32.59% Equity Float 498.30
Shares Out 31.07.2012 499.7 Short Int 5.92
33'448.51 1 Yr Total Return -15.05%
Total Debt 15'230.00 YTD Return -11.97%
Preferred Stock - Adjusted BETA 1.385
Minority Interest 878.0 Analyst Recs 34
Cash and Equivalents 2'697.00 Consensus Rating 4.647
Enterprise Value 46'528.51
Average Volume 5 Day 3'386'514
APC US EQUITY YTD Change - Average Volume 30 Day 3'452'983
APC US EQUITY YTD % CHANGE - Average Volume 3 Month 3'614'102
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
11'232.0 13'740.0 8'537.0 11'340.0 13'656.0 12'508.0 13'934.0 13'623.0 15'395.6 3'373.3 3'575.4
3.94x 2.04x 4.74x 4.22x 3.77x 14.89x 13.77x 3.41x 2.91x 13.68x 12.76x
5'578.0 7'596.0 3'561.0 6'055.0 7'353.0 6'702.0 6'634.0 8'724.7 9'703.6 2'161.9 2'314.7
7.94x 3.70x 11.36x 7.91x 7.00x 7.30x 6.96x 5.33x 4.79x 5.03x 4.84x
3'781.0 3'260.0 (135.0) 761.0 (2'649.0) 845.0 (1'342.0) 1'591.0 2'217.9 363.2 430.6
18.00x 8.53x - 51.81x 28.91x 34.12x 17.06x 19.24x 15.83x 19.22x 17.81x
EBITDA 7'353.00 Long-Term Rating Date 08.09.2006
EBIT 3'523.00 Long-Term Rating BBB-
Operating Margin 25.80% Long-Term Outlook POS
Pretax Margin -25.07% Short-Term Rating Date 15.09.2009
Return on Assets -2.53% Short-Term Rating NR
Return on Common Equity -6.44%
Return on Capital - EBITDA/Interest Exp. 7.46
Asset Turnover 0.26% (EBITDA-Capex)/Interest Exp. 1.73
Net Debt/EBITDA 1.81
Gross Margin 41.4% Total Debt/EBITDA 2.24
EBITDA Margin 47.6%
EBIT Margin 20.2% Total Debt/Equity 84.1%
Net Income Margin -19.4% Total Debt/Capital 44.5%
Asset Turnover 0.26
Current Ratio 1.41 Net Fixed Asset Turnover 0.37
Quick Ratio 0.81 Accounts receivable turnover-days 30.88
Debt to Assets 29.41% Inventory Days 7.15
Tot Debt to Common Equity 84.12% Accounts Payable Turnover Day 118.59
Accounts Receivable Turnover 11.85 Cash Conversion Cycle -96.89
Inventory Turnover 51.22
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Anadarko Petroleum CorpPrice/Volume
Valuation Analysis
5'299'723.00
Current Price (10/dd/yy) Market Data
-.-/-0-1-2-3-4-5-6-
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0.0
2'000.0
4'000.0
6'000.0
8'000.0
10'000.0
12'000.0
14'000.0
16'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-'--
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 33'127'804 6.63 6'134'469 30.06.2012 Investment Advisor
FIDELITY MANAGEMENT FIDELITY MANAGEMENT 13F 26'628'082 5.33 (1'963'648) 30.06.2012 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 21'557'484 4.31 822'119 30.06.2012 Investment Advisor
STATE STREET CORP STATE STREET CORPORA 13F 20'093'889 4.02 (121'466) 30.06.2012 Investment Advisor
BLACKROCK INSTITUTIO BLACKROCK INSTITUTIO 13F 16'454'451 3.29 3'342'145 30.06.2012 Investment Advisor
CARMIGNAC GESTION Multiple Portfolios MF-AGG 15'749'500 3.15 (40'000) 29.06.2012 Investment Advisor
CLEARBRIDGE ADVISORS CLEARBRIDGE ADVISORS 13F 13'036'135 2.61 263'252 30.06.2012 Investment Advisor
JP MORGAN CHASE & CO JP MORGAN CHASE & CO 13F 9'804'861 1.96 1'620'684 30.06.2012 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 7'205'913 1.44 1'035'190 30.06.2012 Investment Advisor
NEUBERGER BERMAN LLC NEUBERGER BERMAN GRO 13F 7'102'174 1.42 (407'099) 30.06.2012 Investment Advisor
INVESCO LTD INVESCO LTD 13F 7'076'603 1.42 (1'979'478) 30.06.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 7'025'368 1.41 188'416 30.09.2012 Investment Advisor
BLACKROCK GROUP LIMI BLACKROCK GROUP LIMI 13F 6'844'573 1.37 (1'259'109) 30.06.2012 Investment Advisor
BLACKROCK ADVISERS BLACKROCK ADVISORS L 13F 6'707'795 1.34 1'773'701 30.06.2012 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 6'264'749 1.25 614'452 30.06.2012 Investment Advisor
JENNISON ASSOCIATES JENNISON ASSOCIATES 13F 5'523'388 1.11 (6'064'593) 30.06.2012 Investment Advisor
FRANKLIN RESOURCES I FRANKLIN ADVISERS IN 13F 5'437'656 1.09 2'228'976 30.06.2012 Investment Advisor
NORGES BANK NORGES BANK 13F 5'141'781 1.03 5'141'781 31.12.2011 Government
BLACKROCK FUND ADVIS BLACKROCK FUND ADVIS 13F 4'923'637 0.99 (41'558) 30.06.2012 Investment Advisor
DIMENSIONAL FUND ADV DIMENSIONAL FUND ADV 13F 4'848'966 0.97 (3'374) 30.06.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
FBR Capital Markets REHAN RASHID market perform 3 M 90 12 month 24.10.2012
Global Hunter Securities JOHN MALONE buy 5 M 98 12 month 23.10.2012
Sanford C. Bernstein & Co BOB BRACKETT outperform 5 M 85 12 month 22.10.2012
Macquarie JOSEPH MAGNER outperform 5 M 102 12 month 22.10.2012
Alembic Global Advisors JAMES J SULLIVAN overweight 5 M 101 12 month 22.10.2012
Jefferies SUBASH CHANDRA buy 5 M 96 12 month 19.10.2012
Robert W. Baird & Co MICHAEL A HALL neutral 3 M 97 12 month 19.10.2012
Johnson Rice & Co CHARLES MEADE overweight 5 M #N/A N/A Not Provided 19.10.2012
Oppenheimer & Co FADEL GHEIT outperform 5 M 90 18 month 19.10.2012
Wells Fargo Securities, LLC DAVID R TAMERON outperform 5 M #N/A N/A Not Provided 18.10.2012
Goldman Sachs BRIAN SINGER buy/attractive 5 M 98 6 month 17.10.2012
Tudor Pickering & Co BRIAN LIVELY buy 5 M 114 Not Provided 17.10.2012
RBC Capital Markets SCOTT HANOLD outperform 5 M 99 12 month 16.10.2012
Deutsche Bank STEPHEN RICHARDSON buy 5 M 85 12 month 15.10.2012
JPMorgan JOSEPH D ALLMAN neutral 3 M 90 12 month 15.10.2012
Canaccord Genuity Corp JOHN J GERDES buy 5 M 119 12 month 15.10.2012
Simmons & Company International DAVID W KISTLER overweight 5 M 117 Not Provided 15.10.2012
Credit Suisse ARUN JAYARAM outperform 5 M 99 Not Provided 12.10.2012
Stifel Nicolaus AMIR ARIF buy 5 M 95 12 month 12.10.2012
Buckingham Research Group ROBERT L CHRISTENSEN JR buy 5 M 112 12 month 11.10.2012
Capital One Southcoast, Inc. ELIOT JAVANMARDI strong buy 5 M 132 Not Provided 09.10.2012
Raymond James ANDREW COLEMAN outperform 5 M 81 12 month 08.10.2012
Societe Generale JOHN HERRLIN buy 5 M 82 12 month 05.10.2012
Barclays THOMAS R DRISCOLL overweight 5 M 85 Not Provided 05.10.2012
Guggenheim Securities LLC ROBERT CORDRAY buy 5 M 100 12 month 20.09.2012
S&P Capital IQ MICHAEL KAY buy 5 M 89 12 month 14.09.2012
Howard Weil Inc PETER KISSEL focus list 5 M 114 12 month 23.08.2012
Credit Agricole Securities (USA) JEB S ARMSTRONG buy 5 M 93 Not Provided 01.08.2012
Morgan Stanley J EVAN CALIO Overwt/Attractive 5 M 95 12 month 31.07.2012
Argus Research Corp PHILIP H WEISS hold 3 M #N/A N/A Not Provided 01.06.2012
EVA Dimensions TEAM COVERAGE sell 1 M #N/A N/A Not Provided 18.11.2011
Holdings By:
Anadarko Petroleum Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Canadian Natural Resources Ltd. acquires, explores for, develops, and produces
natural gas, crude oil, and related products. The Company operates in the
Canadian provinces of Alberta, northeastern British Columbia and Saskatchewan.
Canadian Natural also operates in areas which have access for exploration
activities and where pipeline systems already exist.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (03.02.2012) 41.12
52-Week Low (10.07.2012) 25.58
Daily Volume
29.64
52-Week High % Change -27.92% Dividend Yield 1.32
52-Week Low % Change 15.87% Beta 1.48
% 52 Week Price Range High/Low 26.13% Equity Float 1'050.57
Shares Out 28.09.2012 1'095.2 Short Int 17.60
32'462.61 1 Yr Total Return -13.03%
Total Debt 8'571.00 YTD Return -21.51%
Preferred Stock 0.0 Adjusted BETA 1.480
Minority Interest 0.0 Analyst Recs 25
Cash and Equivalents 34.00 Consensus Rating 4.600
Enterprise Value 40'974.61
Average Volume 5 Day 3'792'331
CNQ CN EQUITY YTD Change - Average Volume 30 Day 4'930'289
CNQ CN EQUITY YTD % CHANGE - Average Volume 3 Month 4'593'852
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
10'990.0 12'296.0 11'395.0 13'011.0 13'691.0 12'622.0 14'831.0 15'161.5 17'931.5 3'725.3 3'884.3
4.56x 3.20x 4.46x 4.37x 3.68x 17.26x 11.90x 2.78x 2.34x 11.07x 10.64x
6'765.0 7'710.0 6'564.0 7'242.0 7'430.0 6'365.0 7'903.0 7'694.7 9'262.1 1'958.0 2'126.8
7.40x 5.11x 7.75x 7.85x 6.78x 8.32x 4.87x 5.33x 4.42x 4.83x 4.53x
2'608.0 4'985.0 1'580.0 1'673.0 2'643.0 1'262.0 2'848.0 2'138.0 3'178.4 541.0 661.3
12.47x 7.39x 16.81x 21.63x 17.50x 21.97x 10.63x 15.37x 11.12x 12.56x 11.20x
EBITDA 7'430.00 Long-Term Rating Date 01.11.2011
EBIT 3'826.00 Long-Term Rating BBB+
Operating Margin 27.95% Long-Term Outlook STABLE
Pretax Margin 28.56% Short-Term Rating Date -
Return on Assets 6.18% Short-Term Rating -
Return on Common Equity 12.55%
Return on Capital - EBITDA/Interest Exp. 14.71
Asset Turnover 0.32% (EBITDA-Capex)/Interest Exp. 2.43
Net Debt/EBITDA 1.08
Gross Margin 29.9% Total Debt/EBITDA 1.08
EBITDA Margin 53.3%
EBIT Margin 26.7% Total Debt/Equity 37.4%
Net Income Margin 19.3% Total Debt/Capital 27.2%
Asset Turnover 0.32
Current Ratio 0.69 Net Fixed Asset Turnover 0.35
Quick Ratio 0.52 Accounts receivable turnover-days 41.78
Debt to Assets 18.13% Inventory Days 20.90
Tot Debt to Common Equity 37.43% Accounts Payable Turnover Day 16.97
Accounts Receivable Turnover 8.76 Cash Conversion Cycle 51.86
Inventory Turnover 17.52
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Canadian Natural Resources LtdPrice/Volume
Valuation Analysis
6'085'499.00
Current Price (10/dd/yy) Market Data
-2
.-
.2/-/20-021-12
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1'- G
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.3'- G
0.0
2'000.0
4'000.0
6'000.0
8'000.0
10'000.0
12'000.0
14'000.0
16'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-'--
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1'--
2'--
3'--
4'--
5'--
6'--
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
DAVIS SELECTED ADVIS DAVIS SELECTED ADVIS 13F 42'738'611 3.9 64'371 30.06.2012 Investment Advisor
CAPITAL RESEARCH GLO CAPITAL RESEARCH GLO 13F 35'955'000 3.28 2'565'000 30.06.2012 Investment Advisor
RBC GLOBAL ASSET MAN RBC GLOBAL ASSET MGM 13F 34'038'782 3.11 2'943'257 30.06.2012 Investment Advisor
JARISLOWSKY FRASER L JARISLOWSKY FRASER L 13F 25'180'141 2.3 (743'740) 30.06.2012 Investment Advisor
BMO FINANCIAL CORP BMO FINANCIAL CORP 13F 22'420'594 2.05 (2'163'235) 30.09.2012 Investment Advisor
EDWARDS NORMAN MURRA n/a SEDI 21'234'864 1.94 59'958 08.02.2012 n/a
CAPITAL WORLD INVEST CAPITAL WORLD INVEST 13F 19'754'000 1.8 - 30.06.2012 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 19'706'309 1.8 2'956'102 30.06.2012 Investment Advisor
TD ASSET MANAGEMENT TD ASSET MANAGEMENT 13F 18'440'266 1.68 4'463'956 30.06.2012 Investment Advisor
ONTARIO TEACHERS PEN ONTARIO TEACHERS PEN 13F 17'157'200 1.57 528'785 30.06.2012 Pension Fund (ERISA)
CIBC GLOBAL ASSET MA CIBC GLOBAL ASSET MA 13F 17'152'542 1.57 784'141 30.06.2012 Investment Advisor
IG INVESTMENT MANAGE IG INVESTMENT MANAGE 13F 15'480'300 1.41 (1'361'680) 30.06.2012 Investment Advisor
CIBC WORLD MARKETS I CIBC WORLD MARKETS I 13F 15'443'880 1.41 1'296'920 30.06.2012 Investment Advisor
NWQ INVESTMENT MANAG NWQ INVESTMENT MANAG 13F 14'303'443 1.31 2'429'577 30.06.2012 Investment Advisor
TORONTO DOMINION BAN TORONTO DOMINION BAN 13F 13'794'282 1.26 208'670 30.06.2012 Investment Advisor
PYRAMIS GLOBAL ADVIS PYRAMIS GLOBAL ADVIS 13F 13'388'361 1.22 6'061'121 30.06.2012 Investment Advisor
IA CLARINGTON INVEST Multiple Portfolios MF-AGG 12'741'000 1.16 103'400 31.03.2012 Investment Advisor
MARKIN ALLAN P n/a SEDI 11'764'844 1.07 (22'727) 03.04.2012 n/a
FIERA SCEPTRE INC FIERA SCEPTRE INC 13F 11'555'219 1.06 5'034'409 30.06.2012 Investment Advisor
INVESCO LTD INVESCO LTD 13F 11'248'951 1.03 3'599'480 30.06.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
JPMorgan KATHERINE LUCAS MINYARD neutral 3 M 50 12 month 24.10.2012
Canaccord Genuity Corp PHILIP R SKOLNICK buy 5 M 42 12 month 22.10.2012
RBC Capital Markets GREG M PARDY outperform 5 M 42 12 month 21.10.2012
Macquarie CHRIS FELTIN outperform 5 M 42 12 month 18.10.2012
Goldman Sachs ARJUN N MURTI neutral/attractive 3 M 34 6 month 17.10.2012
BMO Capital Markets RANDY J OLLENBERGER market perform 3 M 36 Not Provided 16.10.2012
CIBC World Markets ANDREW POTTER sector outperform 5 M 34 Not Provided 15.10.2012
Credit Suisse BRIAN C DUTTON outperform 5 M 47 Not Provided 12.10.2012
Cormark Securities Inc. TODD KEPLER buy 5 M 42 12 month 12.10.2012
Societe Generale JOHN HERRLIN buy 5 M 35 12 month 05.10.2012
Barclays THOMAS R DRISCOLL overweight 5 M 36 Not Provided 05.10.2012
National Bank Financial KYLE PRESTON outperform 5 M 42 12 month 04.10.2012
Raymond James JUSTIN BOUCHARD outperform 5 U 35 12 month 01.10.2012
Edward Jones LANNY PENDILL buy 5 M #N/A N/A Not Provided 26.09.2012
FirstEnergy Capital Corp MICHAEL P DUNN top pick 5 M 41 12 month 17.09.2012
EVA Dimensions TEAM COVERAGE overweight 5 U #N/A N/A Not Provided 11.09.2012
TD Securities MENNO HULSHOF action list buy 5 M 42 12 month 06.09.2012
Veritas Investment Research Co SAM LA BELL buy 5 M 46 Not Provided 10.08.2012
Peters & Co Ltd KAM S SANDHAR sector outperform 5 M 43 12 month 09.08.2012
Scotia Capital MARK POLAK sector outperform 5 M 44 12 month 09.08.2012
Stifel Nicolaus AMIR ARIF hold 3 M #N/A N/A Not Provided 20.07.2012
Deutsche Bank PAUL SANKEY hold 3 M 32 12 month 16.07.2012
Holdings By:
Canadian Natural Resources Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Apache Corporation is an independent energy company. The Company explores for,
develops, and produces natural gas, crude oil, and natural gas liquids. The
Company has operations in the United States, Canada, Egypt, Australia, offshore
the United Kingdom in the North Sea, and Argentina.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (24.02.2012) 112.09
52-Week Low (04.06.2012) 77.93
Daily Volume
83.13
52-Week High % Change -25.84% Dividend Yield 0.77
52-Week Low % Change 6.67% Beta 1.42
% 52 Week Price Range High/Low 15.22% Equity Float 389.35
Shares Out 31.07.2012 391.2 Short Int 5.49
32'521.73 1 Yr Total Return -13.91%
Total Debt 7'216.00 YTD Return -7.56%
Preferred Stock 1'227.0 Adjusted BETA 1.425
Minority Interest 0.0 Analyst Recs 32
Cash and Equivalents 295.00 Consensus Rating 4.531
Enterprise Value 43'625.73
Average Volume 5 Day 2'810'608
APA US EQUITY YTD Change - Average Volume 30 Day 2'764'045
APA US EQUITY YTD % CHANGE - Average Volume 3 Month 2'585'804
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
9'962.0 12'327.8 8'573.9 12'183.0 16'810.0 14'754.0 16'990.0 16'830.6 18'069.1 4'044.8 4'289.9
4.02x 2.27x 4.40x 4.50x 2.55x 14.34x 10.27x 2.78x 2.56x 11.71x 11.15x
7'320.9 3'654.3 3'027.6 8'903.0 12'551.0 10'909.8 12'553.0 12'020.8 13'030.1 2'960.2 3'221.4
5.46x 7.66x 12.46x 6.16x 3.42x 5.07x 3.62x 3.63x 3.35x 3.49x 3.41x
2'812.4 712.0 (284.4) 3'032.0 4'584.0 3'860.0 3'344.0 3'604.0 4'125.9 837.1 919.3
12.82x 35.66x 20.51x 13.34x 7.66x 11.72x 8.00x 8.49x 8.02x 8.73x 8.44x
EBITDA 12'551.00 Long-Term Rating Date 26.01.2001
EBIT 8'347.00 Long-Term Rating A-
Operating Margin 49.65% Long-Term Outlook STABLE
Pretax Margin 48.14% Short-Term Rating Date 05.05.2000
Return on Assets 6.45% Short-Term Rating A-2
Return on Common Equity 11.91%
Return on Capital 9.40% EBITDA/Interest Exp. 18.03
Asset Turnover 0.33% (EBITDA-Capex)/Interest Exp. 7.86
Net Debt/EBITDA 0.79
Gross Margin 52.4% Total Debt/EBITDA 0.82
EBITDA Margin 73.9%
EBIT Margin 39.1% Total Debt/Equity 26.0%
Net Income Margin 27.3% Total Debt/Capital 19.9%
Asset Turnover 0.33
Current Ratio 0.97 Net Fixed Asset Turnover 0.38
Quick Ratio 0.68 Accounts receivable turnover-days 55.15
Debt to Assets 13.86% Inventory Days 25.62
Tot Debt to Common Equity 25.99% Accounts Payable Turnover Day 38.42
Accounts Receivable Turnover 6.64 Cash Conversion Cycle 43.20
Inventory Turnover 14.29
Fiscal Year Ended
Apache CorpPrice/Volume
Valuation Analysis
2'835'330.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
-
/-
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l&.. k&.. a&.. g&./ c&./ j&./ W&./ j&./ g&./ g&./ W&./ p&./ l&./'- G
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0.0
2'000.0
4'000.0
6'000.0
8'000.0
10'000.0
12'000.0
14'000.0
16'000.0
18'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-'--
.'--
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0'--
1'--
2'--
3'--
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5'--
6'--
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CAPITAL RESEARCH GLO CAPITAL RESEARCH GLO 13F 21'038'436 5.38 832'000 30.06.2012 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 16'321'124 4.17 440'968 30.06.2012 Investment Advisor
STATE STREET CORP STATE STREET CORPORA 13F 16'298'441 4.17 802'214 30.06.2012 Investment Advisor
BLACKROCK INSTITUTIO BLACKROCK INSTITUTIO 13F 10'805'569 2.76 769'528 30.06.2012 Investment Advisor
FIDELITY MANAGEMENT FIDELITY MANAGEMENT 13F 9'244'445 2.36 32'069 30.06.2012 Investment Advisor
HARRIS ASSOCIATES LP HARRIS ASSOC LP 13F 8'911'680 2.28 (276'094) 30.06.2012 Investment Advisor
FRANKLIN RESOURCES I FRANKLIN MUTUAL ADVI 13F 7'983'538 2.04 1'657'652 30.06.2012 Investment Advisor
CAPITAL WORLD INVEST CAPITAL WORLD INVEST 13F 6'700'000 1.71 (2'090'000) 30.06.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 6'167'802 1.58 (274'422) 30.09.2012 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 5'721'456 1.46 434'206 30.06.2012 Investment Advisor
NWQ INVESTMENT MANAG NWQ INVESTMENT MANAG 13F 5'523'031 1.41 (85'794) 30.06.2012 Investment Advisor
BLACKROCK GROUP LIMI BLACKROCK GROUP LIMI 13F 4'960'959 1.27 1'963 30.06.2012 Investment Advisor
BLACKROCK FUND ADVIS BLACKROCK FUND ADVIS 13F 3'863'481 0.99 (7'801) 30.06.2012 Investment Advisor
MASSACHUSETTS FINANC MASSACHUSETTS FINANC 13F 3'765'057 0.96 (242'397) 30.06.2012 Investment Advisor
EATON VANCE MANAGEME EATON VANCE MANAGEME 13F 3'522'647 0.9 (289'142) 30.06.2012 Investment Advisor
BLACKROCK ADVISERS BLACKROCK ADVISORS L 13F 3'420'833 0.87 364'600 30.06.2012 Investment Advisor
AMERIPRISE FINANCIAL AMERIPRISE FINANCIAL 13F 3'389'762 0.87 (1'434'141) 30.06.2012 Investment Advisor
JP MORGAN CHASE & CO JP MORGAN CHASE & CO 13F 3'283'259 0.84 (247'169) 30.06.2012 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 3'203'580 0.82 (1'563'302) 30.06.2012 Investment Advisor
BANK OF AMERICA CORP BANK OF AMERICA 13F 3'124'482 0.8 (94'405) 30.06.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Global Hunter Securities JOHN MALONE buy 5 M 105 12 month 23.10.2012
Sanford C. Bernstein & Co BOB BRACKETT outperform 5 M 119 12 month 22.10.2012
Macquarie JOSEPH MAGNER outperform 5 M 124 12 month 22.10.2012
Guggenheim Securities LLC ROBERT CORDRAY buy 5 M 111 12 month 22.10.2012
Alembic Global Advisors JAMES J SULLIVAN overweight 5 M 112 12 month 22.10.2012
Robert W. Baird & Co MICHAEL A HALL outperform 5 M 112 12 month 19.10.2012
Raymond James JOHN FREEMAN outperform 5 M 100 12 month 19.10.2012
Johnson Rice & Co CHARLES MEADE equalweight 3 M #N/A N/A Not Provided 19.10.2012
Stifel Nicolaus AMIR ARIF buy 5 M 100 12 month 19.10.2012
Oppenheimer & Co FADEL GHEIT outperform 5 M 105 18 month 19.10.2012
Wells Fargo Securities, LLC DAVID R TAMERON outperform 5 M #N/A N/A Not Provided 18.10.2012
Goldman Sachs BRIAN SINGER neutral/attractive 3 M 103 6 month 17.10.2012
RBC Capital Markets LEO P MARIANI sector perform 3 M 105 12 month 16.10.2012
Edward Jones BRIAN YOUNGBERG buy 5 M #N/A N/A Not Provided 15.10.2012
Simmons & Company International PEARCE W HAMMOND overweight 5 M 130 Not Provided 15.10.2012
Credit Suisse ARUN JAYARAM outperform 5 M 104 Not Provided 12.10.2012
Howard Weil Inc PETER KISSEL market outperform 4 M 121 12 month 11.10.2012
Buckingham Research Group ROBERT L CHRISTENSEN JR buy 5 M 129 12 month 11.10.2012
Capital One Southcoast, Inc. ELIOT JAVANMARDI add 4 M 124 Not Provided 09.10.2012
Tudor Pickering & Co MATTHEW PORTILLO accumulate 4 M 108 Not Provided 09.10.2012
Societe Generale JOHN HERRLIN buy 5 M 106 12 month 05.10.2012
Barclays THOMAS R DRISCOLL overweight 5 M 116 Not Provided 05.10.2012
JPMorgan JOSEPH D ALLMAN overweight 5 M 110 Not Provided 02.10.2012
FBR Capital Markets REHAN RASHID market perform 3 M 100 12 month 02.10.2012
Argus Research Corp PHILIP H WEISS hold 3 M #N/A N/A Not Provided 28.09.2012
Credit Agricole Securities (USA) JEB S ARMSTRONG buy 5 M 127 Not Provided 03.08.2012
Peters & Co Ltd KAM S SANDHAR sector perform 3 M 95 12 month 02.08.2012
Deutsche Bank STEPHEN RICHARDSON buy 5 M 110 12 month 16.07.2012
EVA Dimensions TEAM COVERAGE buy 5 M #N/A N/A Not Provided 18.11.2011
Ameriprise Advisor Services, Inc LEZE THAQI buy 5 M #N/A N/A Not Provided 29.03.2010
Holdings By:
Apache Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Surgutneftegas explores for, extracts, transports, refines, and markets oil and
natural gas from fields mainly in Western Siberia. The Company operates oil and
gas fields, dehydrates gas, extracts liquid hydrocarbons, and produces propane.
Surgutneftegas produces fuel oil, engine fuel, and main grades of petroleum
bitumen.
Latest Fiscal Year: 12/2011
LTM as of: 01/yy
52-Week High (16.03.2012) 33.89
52-Week Low (30.03.2012) 21.00
Daily Volume
28.22
52-Week High % Change -16.75% Dividend Yield 2.13
52-Week Low % Change 34.38% Beta 1.04
% 52 Week Price Range High/Low 54.79% Equity Float 35'570.70
Shares Out 30.06.2012 35'726.0 Short Int -
1'008'187.56 1 Yr Total Return 14.71%
Total Debt 164.00 YTD Return 14.06%
Preferred Stock 7'702.0 Adjusted BETA 1.044
Minority Interest 15.0 Analyst Recs 16
Cash and Equivalents 378'660.00 Consensus Rating 4.250
Enterprise Value 637'408.54
Average Volume 5 Day 22'130'480
SNGS RM EQUITY YTD Change - Average Volume 30 Day 33'153'730
SNGS RM EQUITY YTD % CHANGE - Average Volume 3 Month 31'146'900
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 01/yy 01/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
617'278.2 576'571.6 526'609.6 621'513.0 787'854.0 - - ######### ######### 206'568.0 197'975.0
1.48x 0.34x 1.06x 1.40x 0.68x - - 0.27x 0.24x 0.44x 0.47x
- - - - - - - 313'141.9 294'752.5 82'239.5 68'337.5
- - - - - - - 2.04x 2.16x - -
83'180.4 146'479.6 116'262.1 130'464.0 237'768.0 - - 183'216.4 168'484.5 34'381.0 45'268.5
13.74x 4.30x 8.86x 9.49x 4.09x - - 6.33x 6.73x - -
EBITDA - Long-Term Rating Date -
EBIT 223'403.00 Long-Term Rating -
Operating Margin 28.36% Long-Term Outlook -
Pretax Margin 37.73% Short-Term Rating Date -
Return on Assets 15.18% Short-Term Rating -
Return on Common Equity 15.15%
Return on Capital 16.19% EBITDA/Interest Exp. -
Asset Turnover 0.50% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin 36.1% Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin 28.4% Total Debt/Equity 0.0%
Net Income Margin 30.2% Total Debt/Capital 0.0%
Asset Turnover 0.50
Current Ratio 6.86 Net Fixed Asset Turnover 1.36
Quick Ratio 4.42 Accounts receivable turnover-days -
Debt to Assets 0.01% Inventory Days 49.87
Tot Debt to Common Equity 0.01% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover 7.32
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Surgutneftegas OAOPrice/Volume
Valuation Analysis
21'548'900.00
Current Price (10/dd/yy) Market Data
-
2
.-
.2
/-
/2
0-
02
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0.0
100'000.0
200'000.0
300'000.0
400'000.0
500'000.0
600'000.0
700'000.0
800'000.0
900'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011-'--
-'/-
-'1-
-'3-
-'5-
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BOGDANOV VLADIMIR LE n/a Co File 131'221'584 0.37 - 30.06.2012 n/a
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 91'207'092 0.26 2'499'200 22.10.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 28'857'126 0.08 3'962'678 30.09.2012 Investment Advisor
REZYAPOV ALEXANDER n/a Co File 8'574'239 0.02 - 30.06.2012 n/a
DEKA INTERNATIONAL S Multiple Portfolios MF-AGG 8'465'000 0.02 765'000 30.11.2011 Mutual Fund Manager
URALSIB JSC Multiple Portfolios MF-AGG 7'000'000 0.02 - 31.05.2012 Investment Advisor
PICTET & CIE Multiple Portfolios MF-AGG 5'890'140 0.02 647'940 31.07.2012 Mutual Fund Manager
EROKHIN VLADIMIR PET n/a Co File 4'501'476 0.01 - 30.06.2012 n/a
SHASHKOV VLADIMIR n/a Co File 4'108'490 0.01 - 30.06.2012 n/a
BANK OF MOSCOW Multiple Portfolios MF-AGG 3'820'100 0.01 (215'700) 29.06.2012 Bank
DEKA INVESTMENT GMBH Multiple Portfolios MF-AGG 3'250'000 0.01 - 20.06.2012 Mutual Fund Manager
LOGINOVSKAYA LYUDMIL n/a Research 2'500'820 0.01 - 30.06.2011 n/a
SANPAOLO IMI ASSET M Multiple Portfolios MF-AGG 2'073'710 0.01 (16'805) 30.06.2011 Mutual Fund Manager
HANDELSBANKEN FONDER Multiple Portfolios MF-AGG 1'961'134 0.01 - 30.09.2012 Investment Advisor
ANANIEV SERGEY n/a Co File 1'929'204 0.01 - 30.06.2012 n/a
KLINOVSKAYA TAISIYA n/a Co File 1'893'478 0.01 - 30.06.2012 n/a
PICTET ASSET MANAGEM Multiple Portfolios MF-AGG 1'851'400 0.01 - 31.07.2012 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 1'833'920 0.01 - 22.10.2012 Investment Advisor
PIONEER INVESTMENTS Multiple Portfolios MF-AGG 1'783'284 0 - 31.05.2011 Investment Advisor
FIRST TRUST ADVISORS Multiple Portfolios MF-AGG 1'503'824 0 - 23.10.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Goldman Sachs GEYDAR MAMEDOV Buy/Neutral 5 M 46 12 month 17.10.2012
Uralsib ALEXEI KOKIN buy 5 M 34 Not Provided 17.10.2012
Otkritie Capital ALEXANDER BURGANSKY buy 5 M 34 Not Provided 08.10.2012
Deutsche Bank PAVEL KUSHNIR buy 5 M 45 12 month 02.10.2012
Infina Investment Company ALEXANDER IVANISCHEV buy 5 M 41 Not Provided 01.10.2012
VTB Capital DMITRY LOUKASHOV buy 5 M 36 12 month 26.09.2012
Nomos Bank DENIS BORISOV buy 5 M 45 Not Provided 17.09.2012
EVA Dimensions TEAM COVERAGE sell 1 D #N/A N/A Not Provided 05.09.2012
HSBC ILDAR KHAZIEV neutral 3 M 32 Not Provided 29.08.2012
Credit Suisse ZOLTAN PALFI neutral 3 M 26 Not Provided 31.07.2012
IFC Metropol SERGEY VAKHRAMEEV buy 5 M 38 12 month 18.04.2012
Arbat Capital SERGEY FUNDOBNY buy 5 M 28 Not Provided 05.04.2012
Renaissance Capital ILDAR DAVLETSHIN buy 5 M 44 12 month 29.03.2012
Aton LLC SLAVA BUNKOV buy 5 M 33 12 month 20.01.2012
Sberbank CIB OLEG MAXIMOV hold 3 M 24 Not Provided 29.01.2010
ING Wholesale Banking IGOR KURINNYY hold 3 M 21 12 month 13.11.2009
Holdings By:
Surgutneftegas OAO ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
TNK-BP Holding produces and refines oil. The Company operates in Russia and
Ukraine.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (15.03.2012) 3.46
52-Week Low (23.10.2012) 2.05
Daily Volume
2.11
52-Week High % Change -39.02% Dividend Yield 26.72
52-Week Low % Change 2.93% Beta -
% 52 Week Price Range High/Low 0.00% Equity Float 523.39
Shares Out 30.06.2012 14'997.0 Short Int -
31'643.60 1 Yr Total Return -
Total Debt 1'603.00 YTD Return -
Preferred Stock 16.0 Adjusted BETA -
Minority Interest 1'229.0 Analyst Recs 17
Cash and Equivalents 717.00 Consensus Rating 4.529
Enterprise Value 31'579.60
Average Volume 5 Day 174'000
TNBP RU EQUITY YTD Change - Average Volume 30 Day 32'549
TNBP RU EQUITY YTD % CHANGE - Average Volume 3 Month 17'909
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 03/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
25'739.0 31'605.0 23'491.0 29'675.0 38'774.0 0.0 0.0 56'210.1 56'513.7 15'113.0 15'881.0
- - - 1.44x 1.05x #DIV/0! #DIV/0! 0.60x 0.60x - -
8'684.0 9'797.0 8'461.0 10'063.0 13'598.0 0.0 0.0 13'197.5 12'808.7 3'926.0 3'588.0
- - - 4.25x 3.01x 0.00x 0.00x 2.39x 2.47x - -
5'732.0 6'367.0 5'175.0 6'540.0 9'208.0 0.0 0.0 8'640.4 8'276.3 2'359.0 2'040.0
- - - 6.12x 4.21x 0.00x 0.00x 3.64x 3.79x - -
EBITDA 13'598.00 Long-Term Rating Date -
EBIT 11'617.00 Long-Term Rating -
Operating Margin 29.96% Long-Term Outlook -
Pretax Margin 30.63% Short-Term Rating Date -
Return on Assets 22.81% Short-Term Rating -
Return on Common Equity 34.80%
Return on Capital - EBITDA/Interest Exp. 412.06
Asset Turnover 1.09% (EBITDA-Capex)/Interest Exp. 276.21
Net Debt/EBITDA -0.12
Gross Margin - Total Debt/EBITDA 0.02
EBITDA Margin 32.5%
EBIT Margin 27.2% Total Debt/Equity 6.3%
Net Income Margin 23.7% Total Debt/Capital 5.7%
Asset Turnover 1.09
Current Ratio 2.40 Net Fixed Asset Turnover 1.89
Quick Ratio 1.51 Accounts receivable turnover-days 68.22
Debt to Assets 4.57% Inventory Days -
Tot Debt to Common Equity 6.31% Accounts Payable Turnover Day -
Accounts Receivable Turnover 5.36 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
TNK-BP HoldingPrice/Volume
Valuation Analysis
128'000.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
-
.
.
/
/
0
0
1
k&.. a&.. g&./ c&./ j&./ W&./ j&./ g&./ g&./ W&./ p&./ l&./'- G
'/ G
'1 G
'3 G
'5 G
.'- G
.'/ G
0.0
5'000.0
10'000.0
15'000.0
20'000.0
25'000.0
30'000.0
35'000.0
40'000.0
45'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-'--
-'2-
.'--
.'2-
/'--
/'2-
0'--
0'2-
1'--
1'2-
2'--
-/'-.'/--6 -/'-4'/--6 -/'-.'/-.- -/'-4'/-.- -/'-.'/-.. -/'-4'/-.. -/'-.'/-./ -/'-4'/-./
FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
NOVY INVESTMENTS LTD n/a Co File 14'473'574'541 96.51 - 31.12.2011 Corporation
LAZARD ASSET MANAGEM Multiple Portfolios MF-AGG 42'710'227 0.28 - 30.09.2012 Investment Advisor
FRANKLIN RESOURCES I Multiple Portfolios MF-AGG 36'753'615 0.25 (4'291'202) 30.06.2012 Investment Advisor
BNP PARIBAS ASSET MG Multiple Portfolios MF-AGG 34'240'674 0.23 3'026'244 31.08.2012 Investment Advisor
FIDELITY MANAGEMENT Multiple Portfolios MF-AGG 14'844'869 0.1 (4'865'447) 31.08.2012 Investment Advisor
SWEDBANK ROBUR FONDE Multiple Portfolios MF-AGG 13'142'121 0.09 - 30.06.2012 Investment Advisor
INVESCO LTD Multiple Portfolios MF-AGG 10'300'740 0.07 (99'500) 30.06.2012 Investment Advisor
CARNEGIE FONDER AB/S Multiple Portfolios MF-AGG 9'341'483 0.06 - 31.08.2012 Investment Advisor
EAST CAPITAL ASSET M Multiple Portfolios MF-AGG 6'961'464 0.05 - 30.06.2012 Investment Advisor
US GLOBAL INVESTORS Multiple Portfolios MF-AGG 5'114'800 0.03 150'000 29.06.2012 Investment Advisor
BANCO FONDER AB Multiple Portfolios MF-AGG 4'986'766 0.03 800'000 30.06.2012 Investment Advisor
SEB ASSET MANAGEMENT Multiple Portfolios MF-AGG 3'979'694 0.03 3'979'694 31.08.2012 Mutual Fund Manager
PARVEST INVESTMENT M Multiple Portfolios MF-AGG 3'595'000 0.02 (200'000) 31.05.2012 Investment Advisor
NORDEA INVESTMENT FU Multiple Portfolios MF-AGG 3'218'603 0.02 - 31.08.2012 Investment Advisor
WOORI ASSET MANAGEME Multiple Portfolios MF-AGG 2'697'042 0.02 437'042 31.03.2012 Mutual Fund Manager
ALLIANZ GLOBAL INV O Multiple Portfolios MF-AGG 2'330'572 0.02 584'792 30.06.2012 Investment Advisor
SHINHAN BNP PARIBAS Multiple Portfolios MF-AGG 2'283'300 0.02 - 31.03.2012 Investment Advisor
ALLIANZ GLOBAL INVES Multiple Portfolios MF-AGG 2'244'277 0.01 - 30.06.2012 Mutual Fund Manager
FIDELITY INTERNATION Multiple Portfolios MF-AGG 2'194'398 0.01 (38'002) 31.03.2012 Investment Advisor
AMUNDI Multiple Portfolios MF-AGG 2'103'751 0.01 - 31.05.2012 Mutual Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Societe Generale EVGENY SOLOVYOV buy 5 M 3 12 month 24.10.2012
JPMorgan ANDREY GROMADIN overweight 5 M 3 12 month 24.10.2012
Nomos Bank DENIS BORISOV hold 3 M 3 Not Provided 23.10.2012
Renaissance Capital BRADLEY WAY hold 3 M 2 12 month 22.10.2012
Gazprombank ALEXANDER NAZAROV underweight 1 D 4 12 month 22.10.2012
VTB Capital DMITRY LOUKASHOV buy 5 M 5 12 month 18.10.2012
Uralsib ALEXEI KOKIN buy 5 M 4 Not Provided 17.10.2012
Otkritie Capital ALEXANDER BURGANSKY buy 5 M 3 Not Provided 09.10.2012
Deutsche Bank TATIANA KAPUSTINA buy 5 M 4 12 month 02.10.2012
Infina Investment Company ALEXANDER IVANISCHEV buy 5 U 4 Not Provided 01.10.2012
Veles Capital VASILIY TANURKOV buy 5 N 5 Not Provided 24.08.2012
Goldman Sachs GEYDAR MAMEDOV not rated #N/A N/A M #N/A N/A Not Provided 27.07.2012
Credit Suisse ZOLTAN PALFI outperform 5 M 3 Not Provided 24.07.2012
RMG Securities MIKHAIL LOSHININ buy 5 M 4 Not Provided 12.07.2012
IFC Metropol SERGEY VAKHRAMEEV buy 5 M 4 12 month 18.04.2012
Aton LLC ELENA SAVCHIK buy 5 M 4 12 month 20.01.2012
EVA Dimensions TEAM COVERAGE buy 5 N #N/A N/A Not Provided 13.01.2012
Sberbank CIB ALEX FAK buy 5 M 4 12 month 08.04.2011
Holdings By:
TNK-BP Holding ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
PTT PCL is a state-controlled fully integrated gas and oil company. The
company explores for, produces, transports, and sells natural gas and crude
oil. It also produces, transports and markets refined petroleum products.
Latest Fiscal Year: 12/2010
LTM as of: 06/yy
52-Week High (03.04.2012) 360.00
52-Week Low (31.05.2012) 301.00
Daily Volume
334
52-Week High % Change -7.22% Dividend Yield -
52-Week Low % Change 10.96% Beta -
% 52 Week Price Range High/Low 55.93% Equity Float 2'856.30
Shares Out 14.08.2012 2'856.3 Short Int -
954'004.06 1 Yr Total Return -
Total Debt 407'923.15 YTD Return -
Preferred Stock 0.0 Adjusted BETA -
Minority Interest 88'028.4 Analyst Recs 0
Cash and Equivalents 127'093.72 Consensus Rating -
Enterprise Value 1'378'450.70
Average Volume 5 Day 20
PTT/F TB EQUITY YTD Change - Average Volume 30 Day 2'757
PTT/F TB EQUITY YTD % CHANGE - Average Volume 3 Month 2'798
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
1'508'129.4 2'000'815.8 1'586'174.5 1'898'682.2 2'428'164.7 ######### ######### ######### ######### 663'266.3 836'659.7
0.82x 0.35x 0.64x 0.64x 0.53x 2.38x 1.97x 0.51x 0.47x - -
147'713.2 148'987.3 129'141.0 166'568.6 202'571.5 189'151.4 201'934.6 227'335.7 249'543.6 54'881.0 57'990.0
8.41x 4.69x 7.86x 7.31x 6.30x 7.17x 6.67x 6.06x 5.52x - -
97'803.6 51'704.8 59'547.6 83'992.1 105'296.4 111'392.6 84'143.8 108'073.0 119'644.5 30'236.3 27'634.3
10.80x 9.55x 11.68x 10.82x 8.62x 8.56x 10.96x 8.87x 7.95x 8.09x 7.96x
EBITDA 202'571.46 Long-Term Rating Date 01.11.2006
EBIT 142'654.94 Long-Term Rating BBB+
Operating Margin 5.88% Long-Term Outlook STABLE
Pretax Margin 6.94% Short-Term Rating Date -
Return on Assets 5.90% Short-Term Rating -
Return on Common Equity 15.19%
Return on Capital 10.81% EBITDA/Interest Exp. 11.23
Asset Turnover 1.84% (EBITDA-Capex)/Interest Exp. 5.24
Net Debt/EBITDA 1.61
Gross Margin 8.1% Total Debt/EBITDA 2.18
EBITDA Margin 7.7%
EBIT Margin 5.3% Total Debt/Equity 73.4%
Net Income Margin 4.3% Total Debt/Capital 38.8%
Asset Turnover 1.84
Current Ratio 1.14 Net Fixed Asset Turnover 4.17
Quick Ratio 0.89 Accounts receivable turnover-days 28.15
Debt to Assets 29.09% Inventory Days 7.83
Tot Debt to Common Equity 73.38% Accounts Payable Turnover Day 29.52
Accounts Receivable Turnover 13.00 Cash Conversion Cycle 5.40
Inventory Turnover 46.76
Fiscal Year Ended
PTT PCLPrice/Volume
Valuation Analysis
100.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
-
2-
.--
.2-
/--
/2-
0--
02-
1--
k&.. a&.. g&./ c&./ j&./ W&./ j&./ g&./ g&./ W&./ p&./ l&./'- G
'- G
'- G
'- G
'- G
'. G
'. G
0.0
500'000.0
1'000'000.0
1'500'000.0
2'000'000.0
2'500'000.0
3'000'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-'--
.'--
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0'--
1'--
2'--
3'--
4'--
5'--
6'--
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
FRANKLIN RESOURCES I Multiple Portfolios MF-AGG 78'651'401 2.75 80'400 28.09.2012 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 14'753'212 0.52 1'125'767 31.03.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 10'121'289 0.35 118'900 30.09.2012 Investment Advisor
MATTHEWS INTERNATION Multiple Portfolios MF-AGG 8'719'200 0.31 - 29.06.2012 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 5'791'914 0.2 (2'841'900) 30.06.2012 Investment Advisor
TEMPLETON INVESTMENT Multiple Portfolios MF-AGG 5'226'728 0.18 - 31.03.2011 Investment Advisor
FIDELITY MANAGEMENT Multiple Portfolios MF-AGG 5'052'087 0.18 (15'004) 31.08.2012 Investment Advisor
PICTET & CIE Multiple Portfolios MF-AGG 4'976'900 0.17 - 31.07.2012 Mutual Fund Manager
ALLIANCEBERNSTEIN LU Multiple Portfolios MF-AGG 4'057'600 0.14 1'343'800 31.08.2012 Investment Advisor
BLACKROCK INVESTMENT Multiple Portfolios MF-AGG 3'586'670 0.13 - 30.06.2012 Investment Advisor
NOMURA ASSET MANAGEM Multiple Portfolios MF-AGG 3'377'100 0.12 - 30.03.2012 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 3'276'795 0.11 (29'100) 22.10.2012 Investment Advisor
JF ASSET MANAGEMENT Multiple Portfolios MF-AGG 3'017'300 0.11 (786'100) 30.09.2011 Mutual Fund Manager
MONTGOMERY ASSET MAN Multiple Portfolios MF-AGG 2'413'300 0.08 50'000 31.08.2012 Investment Advisor
AMERIPRISE FINANCIAL Multiple Portfolios MF-AGG 2'332'330 0.08 38'100 31.08.2012 Investment Advisor
FIRST STATE INVESTME Multiple Portfolios MF-AGG 2'212'000 0.08 (534'200) 29.06.2012 Mutual Fund Manager
AMUNDI LUXEMBOURG SA Multiple Portfolios MF-AGG 1'748'339 0.06 - 31.05.2012 Investment Advisor
GUARDIAN CAPITAL INC Multiple Portfolios MF-AGG 1'580'800 0.06 (71'700) 31.05.2012 Mutual Fund Manager
STATE STREET CORP Multiple Portfolios MF-AGG 1'364'127 0.05 (73'900) 23.10.2012 Investment Advisor
EATON VANCE MANAGEME Multiple Portfolios MF-AGG 1'280'760 0.04 73'600 31.08.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
#N/A N/A
Holdings By:
PTT PCL ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Woodside Petroleum Limited explores for and produces oil and gas from offshore
and onshore facilities located in Western Australia and Northern Territory. The
Company operates numerous oil and gas fields and pipelines throughout Australia,
United States and Mauritania and its products include liquefied natural gas,
domestic gas, condensate, crude oil and liquefied petroleum gas.
Latest Fiscal Year: 12/2011
LTM as of: 01/yy
52-Week High (23.02.2012) 38.16
52-Week Low (20.12.2011) 30.00
Daily Volume
34.95
52-Week High % Change -8.41% Dividend Yield 3.32
52-Week Low % Change 16.50% Beta 1.13
% 52 Week Price Range High/Low 67.65% Equity Float 633.52
Shares Out 30.06.2012 823.9 Short Int 2.01
28'795.68 1 Yr Total Return 4.28%
Total Debt 5'102.00 YTD Return 17.79%
Preferred Stock 0.0 Adjusted BETA 1.129
Minority Interest 611.0 Analyst Recs 16
Cash and Equivalents 41.00 Consensus Rating 3.625
Enterprise Value 35'262.57
Average Volume 5 Day 3'200'076
WPL AU EQUITY YTD Change - Average Volume 30 Day 2'665'914
WPL AU EQUITY YTD % CHANGE - Average Volume 3 Month 2'482'248
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 01/yy 01/yy 12/12 Y 12/13 Y 09/11 Q3 12/11 Q4
3'221.4 5'103.3 3'487.0 4'193.0 4'802.0 - - 6'022.8 6'442.5 - -
9.18x 4.75x 10.26x 9.20x 6.44x - - 5.50x 5.04x - -
2'359.2 3'818.5 2'482.0 2'887.0 2'755.0 - - 4'331.7 4'569.4 - -
12.53x 6.35x 14.42x 13.37x 11.23x - - 8.14x 7.72x - -
863.9 1'521.6 1'474.0 1'575.0 1'507.0 - - 2'253.1 2'207.3 - -
26.66x 14.06x 20.18x 21.34x 16.53x - - 13.38x 13.65x - -
EBITDA 2'755.00 Long-Term Rating Date 03.12.2010
EBIT 2'091.00 Long-Term Rating BBB+
Operating Margin 43.54% Long-Term Outlook STABLE
Pretax Margin 45.52% Short-Term Rating Date 25.04.2001
Return on Assets 6.53% Short-Term Rating NR
Return on Common Equity 11.70%
Return on Capital 8.26% EBITDA/Interest Exp. 102.04
Asset Turnover 0.23% (EBITDA-Capex)/Interest Exp. -30.70
Net Debt/EBITDA 1.62
Gross Margin 65.5% Total Debt/EBITDA 1.82
EBITDA Margin 57.5%
EBIT Margin 41.6% Total Debt/Equity 40.3%
Net Income Margin 31.4% Total Debt/Capital 27.8%
Asset Turnover 0.23
Current Ratio 0.42 Net Fixed Asset Turnover 0.28
Quick Ratio 0.16 Accounts receivable turnover-days 39.81
Debt to Assets 22.44% Inventory Days 27.46
Tot Debt to Common Equity 40.31% Accounts Payable Turnover Day 162.12
Accounts Receivable Turnover 9.19 Cash Conversion Cycle -3.70
Inventory Turnover 13.33
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Woodside Petroleum LtdPrice/Volume
Valuation Analysis
2'311'058.00
Current Price (10/dd/yy) Market Data
-
2
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3'- G
5'- G
.-'- G
./'- G
0.0
1'000.0
2'000.0
3'000.0
4'000.0
5'000.0
6'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
SHELL ENERGY HOLDING n/a EXCH 190'119'364 23.08 - 04.04.2012 Corporation
VANGUARD GROUP INC Multiple Portfolios MF-AGG 10'276'255 1.25 402'371 30.06.2012 Investment Advisor
CARMIGNAC GESTION Multiple Portfolios MF-AGG 7'400'153 0.9 - 29.06.2012 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 6'198'987 0.75 2'751 22.10.2012 Investment Advisor
DEUTSCHE BANK AG Multiple Portfolios MF-AGG 5'950'709 0.72 36'277 31.08.2012 Investment Advisor
BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 3'955'302 0.48 30'233 23.10.2012 Investment Advisor
CAPITAL RESEARCH GLO Multiple Portfolios MF-AGG 3'453'472 0.42 (1'765'372) 30.09.2012 Investment Advisor
ONTARIO TEACHERS PEN n/a Research 3'400'000 0.41 - 31.12.2011 Pension Fund (ERISA)
FRANKLIN RESOURCES I Multiple Portfolios MF-AGG 3'230'216 0.39 3'000'000 28.09.2012 Investment Advisor
VANGUARD INVESTMENTS Multiple Portfolios MF-AGG 3'205'741 0.39 (210'665) 29.06.2012 Mutual Fund Manager
AUSTRALIAN FOUNDATIO Multiple Portfolios MF-AGG 2'711'000 0.33 - 30.06.2011 Investment Advisor
STATE FARM MUTUAL AU STATE FARM MUTUAL AU Sch-D 2'580'656 0.31 - 30.06.2012 Insurance Company
FIDELITY MANAGEMENT Multiple Portfolios MF-AGG 2'577'051 0.31 121'627 31.08.2012 Investment Advisor
ARGO INVESTMENTS LTD Multiple Portfolios MF-AGG 1'700'873 0.21 - 30.06.2011 Investment Advisor
MACQUARIE INVESTMENT Multiple Portfolios MF-AGG 1'625'502 0.2 624'441 31.08.2011 Mutual Fund Manager
CREDIT SUISSE ASSET Multiple Portfolios MF-AGG 1'026'542 0.12 2'650 31.08.2012 Mutual Fund Manager
DJERRIWARRH INVESTME Multiple Portfolios MF-AGG 948'000 0.12 - 30.06.2011 Investment Advisor
INVESCO LTD Multiple Portfolios MF-AGG 836'021 0.1 (741) 23.10.2012 Investment Advisor
MELLON GLOBAL MANAGE Multiple Portfolios MF-AGG 754'654 0.09 6'654 31.08.2012 Mutual Fund Manager
EARNEST PARTNERS LLC EARNEST PARTNERS LLC 13F 616'768 0.07 84'223 30.06.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Macquarie ADRIAN WOOD neutral 3 M 38 12 month 19.10.2012
Deutsche Bank JOHN HIRJEE buy 5 M 40 12 month 18.10.2012
Morgan Stanley STUART BAKER Overwt/Attractive 5 M 42 12 month 18.10.2012
Goldman Sachs MARK WISEMAN neutral/neutral 3 M 40 12 month 18.10.2012
RBC Capital Markets ANDREW WILLIAMS underperform 1 M 36 12 month 18.10.2012
Credit Suisse PAUL MCTAGGART neutral 3 M 38 Not Provided 18.10.2012
JPMorgan BENJAMIN X. WILSON overweight 5 M 43 6 month 18.10.2012
Sanford C. Bernstein & Co NEIL BEVERIDGE market perform 3 M 41 12 month 18.10.2012
Commonwealth Bank LUKE SMITH buy 5 M 42 12 month 18.10.2012
Bell Potter JOHAN HEDSTROM buy 5 M 45 12 month 18.10.2012
RBS STUART NIELSEN hold 3 M 41 12 month 22.08.2012
EVA Dimensions TEAM COVERAGE sell 1 D #N/A N/A Not Provided 20.08.2012
Nomura RICHARD J JOHNSON suspended coverage #N/A N/A M #N/A N/A Not Provided 29.04.2012
Hartleys DAVID WALL buy 5 M 55 12 month 23.03.2012
Intersuisse Ltd NICK WIRUBOV buy 5 N 51 Not Provided 10.11.2010
Holdings By:
Woodside Petroleum Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
EOG Resources, Inc. explores for, develops, produces and markets natural gas
and crude oil. The Company operates in major producing basins in the United
States, Canada, Trinidad, the United Kingdom North Sea, China and, from time to
time, select other international areas.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (17.02.2012) 119.97
52-Week Low (26.06.2012) 82.48
Daily Volume
110.16
52-Week High % Change -8.18% Dividend Yield 0.60
52-Week Low % Change 33.56% Beta 1.23
% 52 Week Price Range High/Low 73.83% Equity Float 267.27
Shares Out 26.07.2012 270.0 Short Int 3.86
29'745.79 1 Yr Total Return 21.74%
Total Debt 5'009.17 YTD Return 12.56%
Preferred Stock 0.0 Adjusted BETA 1.229
Minority Interest 0.0 Analyst Recs 36
Cash and Equivalents 615.73 Consensus Rating 4.417
Enterprise Value 34'477.31
Average Volume 5 Day 1'578'774
EOG US EQUITY YTD Change - Average Volume 30 Day 1'552'363
EOG US EQUITY YTD % CHANGE - Average Volume 3 Month 1'756'993
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
4'221.8 6'249.9 5'084.2 5'797.9 9'154.7 7'225.1 10'553.2 10'219.7 11'385.5 2'529.7 2'614.3
5.48x 2.91x 5.25x 4.77x 3.37x 16.90x 11.14x 3.42x 3.18x 13.72x 13.70x
2'696.5 4'216.8 2'817.2 2'756.0 4'689.3 3'313.8 5'272.9 5'862.1 6'608.2 1'450.5 1'501.3
8.58x 4.31x 9.47x 10.04x 6.59x 9.57x 5.51x 5.88x 5.22x 5.75x 5.59x
1'089.9 2'436.9 546.6 160.7 1'091.1 412.3 1'381.4 1'253.4 1'508.1 266.1 314.9
20.66x 8.89x 32.43x 78.80x 25.99x 44.87x 20.96x 23.39x 20.03x 23.37x 22.14x
EBITDA 4'689.29 Long-Term Rating Date 12.04.2007
EBIT 2'172.91 Long-Term Rating A-
Operating Margin 23.74% Long-Term Outlook STABLE
Pretax Margin 20.86% Short-Term Rating Date 04.11.1999
Return on Assets 5.53% Short-Term Rating A-2
Return on Common Equity 10.86%
Return on Capital 8.45% EBITDA/Interest Exp. 17.49
Asset Turnover 0.42% (EBITDA-Capex)/Interest Exp. -8.44
Net Debt/EBITDA 0.90
Gross Margin 52.2% Total Debt/EBITDA 0.95
EBITDA Margin 50.0%
EBIT Margin 22.5% Total Debt/Equity 39.6%
Net Income Margin 11.9% Total Debt/Capital 28.4%
Asset Turnover 0.42
Current Ratio 1.29 Net Fixed Asset Turnover 0.49
Quick Ratio 0.82 Accounts receivable turnover-days 46.04
Debt to Assets 20.17% Inventory Days 42.87
Tot Debt to Common Equity 39.63% Accounts Payable Turnover Day 149.28
Accounts Receivable Turnover 7.95 Cash Conversion Cycle -54.99
Inventory Turnover 8.54
Fiscal Year Ended
EOG Resources IncPrice/Volume
Valuation Analysis
2'000'451.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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0.0
1'000.0
2'000.0
3'000.0
4'000.0
5'000.0
6'000.0
7'000.0
8'000.0
9'000.0
10'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-'--
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3'--
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-/'-.'/--6 -/'-4'/--6 -/'-.'/-.- -/'-4'/-.- -/'-.'/-.. -/'-4'/-.. -/'-.'/-./ -/'-4'/-./
FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CAPITAL RESEARCH GLO CAPITAL RESEARCH GLO 13F 23'883'968 8.85 2'103'768 30.06.2012 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 13'658'909 5.06 529'619 30.06.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 11'062'138 4.1 213'017 30.09.2012 Investment Advisor
STATE STREET CORP STATE STREET CORPORA 13F 11'034'024 4.09 274'819 30.06.2012 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 9'732'782 3.6 (1'513'068) 30.06.2012 Investment Advisor
JP MORGAN CHASE & CO JP MORGAN CHASE & CO 13F 7'337'473 2.72 2'410'237 30.06.2012 Investment Advisor
FIDELITY MANAGEMENT FIDELITY MANAGEMENT 13F 7'267'895 2.69 (486'856) 30.06.2012 Investment Advisor
ABERDEEN ASSET MANAG ABERDEEN ASSET MANAG 13F 7'026'487 2.6 329'601 30.06.2012 Investment Advisor
BLACKROCK INSTITUTIO BLACKROCK INSTITUTIO 13F 7'005'567 2.59 438'535 30.06.2012 Investment Advisor
DAVIS SELECTED ADVIS DAVIS SELECTED ADVIS 13F 6'631'572 2.46 (6'173'222) 30.06.2012 Investment Advisor
CAPITAL WORLD INVEST CAPITAL WORLD INVEST 13F 6'227'837 2.31 1'500'000 30.06.2012 Investment Advisor
DELAWARE MANAGEMENT DELAWARE MANAGEMENT 13F 6'205'370 2.3 77'961 30.06.2012 Investment Advisor
MASSACHUSETTS FINANC MASSACHUSETTS FINANC 13F 4'144'355 1.53 1'324'445 30.06.2012 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 3'966'181 1.47 (1'026'300) 30.06.2012 Investment Advisor
PRIMECAP MANAGEMENT PRIMECAP MANAGEMENT 13F 3'788'877 1.4 (2'198'912) 30.06.2012 Investment Advisor
NEUBERGER BERMAN LLC NEUBERGER BERMAN GRO 13F 3'728'397 1.38 (1'243'914) 30.06.2012 Investment Advisor
BROWN BROTHERS HARRI BROWN BROTHERS HARRI 13F 3'631'201 1.34 638'709 30.06.2012 Investment Advisor
ALLIANCEBERNSTEIN LP ALLIANCEBERNSTEIN LP 13F 3'607'524 1.34 (519'000) 30.06.2012 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 3'359'038 1.24 387'663 30.06.2012 Investment Advisor
AMERIPRISE FINANCIAL AMERIPRISE FINANCIAL 13F 3'175'313 1.18 (39'520) 30.06.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
FBR Capital Markets REHAN RASHID outperform 5 M 140 12 month 24.10.2012
Susquehanna Financial Group DUANE GRUBERT neutral 3 M 104 12 month 23.10.2012
Credit Suisse ARUN JAYARAM neutral 3 M 115 Not Provided 22.10.2012
Sanford C. Bernstein & Co BOB BRACKETT outperform 5 M 127 12 month 22.10.2012
Macquarie JOSEPH MAGNER neutral 3 M 122 12 month 22.10.2012
Alembic Global Advisors JAMES J SULLIVAN overweight 5 M 122 12 month 22.10.2012
US Capital Advisors CAMERON HORWITZ buy 5 M 149 Not Provided 22.10.2012
Jefferies BIJU Z PERINCHERIL buy 5 M 135 12 month 19.10.2012
Robert W. Baird & Co HSULIN PENG neutral 3 M 126 12 month 19.10.2012
Johnson Rice & Co CHARLES MEADE overweight 5 M #N/A N/A Not Provided 19.10.2012
Stifel Nicolaus AMIR ARIF hold 3 M #N/A N/A Not Provided 19.10.2012
Oppenheimer & Co FADEL GHEIT outperform 5 M 130 18 month 19.10.2012
Deutsche Bank STEPHEN RICHARDSON buy 5 M 135 12 month 18.10.2012
Wunderlich Securities IRENE O HAAS buy 5 M 128 18 month 18.10.2012
Wells Fargo Securities, LLC DAVID R TAMERON outperform 5 M #N/A N/A Not Provided 18.10.2012
Goldman Sachs BRIAN SINGER buy/attractive 5 M 142 6 month 17.10.2012
Tudor Pickering & Co BRIAN LIVELY accumulate 4 D 120 Not Provided 17.10.2012
RBC Capital Markets LEO P MARIANI outperform 5 M 137 12 month 16.10.2012
Edward Jones BRIAN YOUNGBERG buy 5 M #N/A N/A Not Provided 16.10.2012
Raymond James ANDREW COLEMAN outperform 5 M 130 12 month 16.10.2012
Simmons & Company International PEARCE W HAMMOND overweight 5 M 127 Not Provided 16.10.2012
Canaccord Genuity Corp JOHN J GERDES buy 5 M 158 12 month 15.10.2012
Howard Weil Inc PETER KISSEL market outperform 4 M 125 12 month 10.10.2012
Capital One Southcoast, Inc. MARSHALL H CARVER VI add 4 M 134 Not Provided 09.10.2012
Societe Generale JOHN HERRLIN hold 3 M 117 12 month 05.10.2012
Barclays THOMAS R DRISCOLL overweight 5 M 139 Not Provided 05.10.2012
JPMorgan JOSEPH D ALLMAN overweight 5 M 143 12 month 02.10.2012
Guggenheim Securities LLC ROBERT CORDRAY neutral 3 M 104 12 month 20.09.2012
Miller Tabak + Co., LLC ADAM MICHAEL buy 5 M 124 12 month 12.09.2012
S&P Capital IQ MICHAEL KAY buy 5 M 131 12 month 28.08.2012
Peters & Co Ltd KAM S SANDHAR sector outperform 5 M 130 12 month 03.08.2012
Brean Murray Carret & Co RAYMOND DEACON buy 5 M 137 12 month 11.05.2012
EVA Dimensions TEAM COVERAGE hold 3 U #N/A N/A Not Provided 07.03.2012
Finncap WILLIAM ARNSTEIN corporate #N/A N/A M #N/A N/A Not Provided 21.10.2011
Holdings By:
EOG Resources Inc ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
PTT PCL is a state-controlled fully integrated gas and oil company. The
company explores for, produces, transports, and sells natural gas and crude
oil. It also produces, transports and markets refined petroleum products.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (02.03.2012) 369.00
52-Week Low (25.10.2011) 289.00
Daily Volume
314
52-Week High % Change -14.91% Dividend Yield -
52-Week Low % Change 8.65% Beta 1.18
% 52 Week Price Range High/Low 37.50% Equity Float 1'248.39
Shares Out 14.08.2012 2'856.3 Short Int -
896'878.06 1 Yr Total Return 14.43%
Total Debt 407'923.15 YTD Return 2.19%
Preferred Stock 0.0 Adjusted BETA 1.184
Minority Interest 88'028.4 Analyst Recs 32
Cash and Equivalents 127'093.72 Consensus Rating 4.531
Enterprise Value 1'321'324.71
Average Volume 5 Day 3'351'820
PTT TB EQUITY YTD Change - Average Volume 30 Day 4'146'220
PTT TB EQUITY YTD % CHANGE - Average Volume 3 Month 3'517'060
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
1'508'129.4 2'000'815.8 1'586'174.5 1'898'682.2 2'428'164.7 ######### ######### ######### ######### 663'266.3 836'659.7
0.82x 0.35x 0.64x 0.64x 0.53x 2.38x 1.97x 0.48x 0.45x - -
147'713.2 148'987.3 129'141.0 166'568.6 202'571.5 189'151.4 201'934.6 227'335.7 249'543.6 54'881.0 57'990.0
8.41x 4.69x 7.86x 7.31x 6.30x 7.17x 6.67x 5.81x 5.29x - -
97'803.6 51'704.8 59'547.6 83'992.1 105'296.4 111'392.6 84'143.8 108'073.0 119'644.5 30'236.3 27'634.3
10.80x 9.55x 11.68x 10.82x 8.62x 8.56x 10.96x 8.34x 7.48x 7.61x 7.48x
EBITDA 202'571.46 Long-Term Rating Date 01.11.2006
EBIT 142'654.94 Long-Term Rating BBB+
Operating Margin 5.88% Long-Term Outlook STABLE
Pretax Margin 6.94% Short-Term Rating Date -
Return on Assets 5.90% Short-Term Rating -
Return on Common Equity 15.19%
Return on Capital 10.81% EBITDA/Interest Exp. 11.23
Asset Turnover 1.84% (EBITDA-Capex)/Interest Exp. 5.24
Net Debt/EBITDA 1.61
Gross Margin 8.1% Total Debt/EBITDA 2.18
EBITDA Margin 7.7%
EBIT Margin 5.3% Total Debt/Equity 73.4%
Net Income Margin 4.3% Total Debt/Capital 38.8%
Asset Turnover 1.84
Current Ratio 1.14 Net Fixed Asset Turnover 4.17
Quick Ratio 0.89 Accounts receivable turnover-days 28.15
Debt to Assets 29.09% Inventory Days 7.83
Tot Debt to Common Equity 73.38% Accounts Payable Turnover Day 29.52
Accounts Receivable Turnover 13.00 Cash Conversion Cycle 5.40
Inventory Turnover 46.76
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
PTT PCLPrice/Volume
Valuation Analysis
2'761'800.00
Current Price (10/dd/yy) Market Data
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2-
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02-
1--
l&.. k&.. a&.. g&./ c&./ j&./ W&./ j&./ g&./ g&./ W&./ p&./'- G/'- G1'- G3'- G5'- G.-'- G./'- G.1'- G.3'- G.5'- G
0.0
500'000.0
1'000'000.0
1'500'000.0
2'000'000.0
2'500'000.0
3'000'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-'--
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0'--
1'--
2'--
3'--
4'--
5'--
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
FINANCE MINISTRY #N/A N/A EXCH 1'459'885'575 51.11 - 10.09.2012 Government
VAYUPAK FUND I #N/A N/A EXCH 435'800'000 15.26 - 10.09.2012 Investment Advisor
THAI NVDR CO LTD #N/A N/A EXCH 104'844'600 3.67 - 10.09.2012 Corporation
STATE STREET BANK AN #N/A N/A EXCH 34'240'032 1.2 - 10.09.2012 Bank
VANGUARD GROUP INC Multiple Portfolios MF-AGG 25'578'036 0.9 389'000 30.06.2012 Investment Advisor
STATE STREET BANK EU n/a EXCH 24'886'102 0.87 - 10.09.2012 n/a
SOCIAL SECURITY OFFI #N/A N/A EXCH 24'019'200 0.84 - 10.09.2012 Unclassified
GOVT OF SINGAPORE IN #N/A N/A EXCH 17'812'200 0.62 - 10.09.2012 Government
BANK OF NEW YORK MEL #N/A N/A EXCH 15'813'217 0.55 - 10.09.2012 Investment Advisor
TMB ASSET MANAGEMENT Multiple Portfolios MF-AGG 6'901'600 0.24 (94'800) 28.09.2012 Investment Advisor
FIDELITY MANAGEMENT Multiple Portfolios MF-AGG 3'408'800 0.12 (257'400) 31.08.2012 Investment Advisor
THRIVENT FINANCIAL F Multiple Portfolios MF-AGG 1'667'350 0.06 28'950 31.07.2012 Investment Advisor
SANFORD C BERNSTEIN Multiple Portfolios MF-AGG 963'400 0.03 - 31.08.2012 Investment Advisor
MORGAN STANLEY Multiple Portfolios MF-AGG 893'600 0.03 (52'800) 30.06.2012 Investment Advisor
THREADNEEDLE ASSET M Multiple Portfolios MF-AGG 791'400 0.03 - 07.03.2012 Investment Advisor
ALLIANCEBERNSTEIN LP Multiple Portfolios MF-AGG 717'300 0.03 (8'100) 31.08.2012 Investment Advisor
SEB FONDFORVALTNING Multiple Portfolios MF-AGG 497'500 0.02 - 30.06.2012 Mutual Fund Manager
DAIWA SB INVESTMENTS Multiple Portfolios MF-AGG 406'700 0.01 148'600 31.03.2012 Investment Advisor
ING INVESTMENT MANAG Multiple Portfolios MF-AGG 390'600 0.01 35'200 30.06.2012 Investment Advisor
RE ADVISERS CORPORAT Multiple Portfolios MF-AGG 331'750 0.01 (13'950) 30.06.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
KT Zmico Securities PATCHARIN KARSEMARNUNTANA buy 5 M 409 12 month 24.10.2012
Kasikorn Securities SIRINATTHA TECHASIRIWAN outperform 5 M 389 Not Provided 22.10.2012
Goldman Sachs PATRICK TIAH neutral/neutral 3 M 340 12 month 17.10.2012
KTB Securities Thailand Co Ltd PARIN KITCHATORNPITAK buy 5 M 420 Not Provided 16.10.2012
Credit Suisse PAWORAMON SUVARNATEMEE neutral 3 M 344 Not Provided 15.10.2012
Bualuang Securities THANATTHEP CHANTARAKARN buy 5 M 400 12 month 15.10.2012
BNP Paribas Equity Research TANAPORN VISARUTHAPHONG buy 5 N 416 12 month 08.10.2012
Morgan Stanley MAYANK MAHESHWARI Equalwt/In-Line 3 D 372 12 month 02.10.2012
Asia Plus Securities NALINRAT KITTIKUMPOLRAT buy 5 M 390 12 month 02.10.2012
SCB Securities Co. Ltd. CHAIPAT THANAWATTANO buy 5 M 380 Not Provided 28.09.2012
Macquarie TREVOR BUCHINSKI outperform 5 M 389 12 month 25.09.2012
EVA Dimensions TEAM COVERAGE buy 5 U #N/A N/A Not Provided 25.09.2012
Kim Eng Securities SUTTHICHAI KUMWORACHAI buy 5 M 392 12 month 20.09.2012
HSBC THOMAS C HILBOLDT underweight 1 N 321 Not Provided 17.09.2012
UOB Kay Hian CHAIWAT ARSIRAWICHAI buy 5 M 405 Not Provided 06.09.2012
Daiwa Securities Co. Ltd. ADRIAN LOH outperform 5 M 380 Not Provided 03.09.2012
OSK (Asia) Securities KANNIKA SIAMWALLA trading buy 5 M 378 3 month 03.09.2012
Deutsche Bank THAPANA PHANICH restricted #N/A N/A M #N/A N/A Not Provided 27.08.2012
CIMB SUWAT SINSADOK outperform 5 M 453 12 month 27.08.2012
Trinity Securities VAJIRALUX SANGLERDSILLAPACHAI buy 5 M 383 Not Provided 27.08.2012
JPMorgan AVIN SONY overweight 5 M 430 Not Provided 21.08.2012
Phillip Securities PREEYANUN TRIPETCHCHUPORN accumulate 4 M 396 Not Provided 21.08.2012
DBS Vickers NAPHAT CHANTARASEREKUL buy 5 M 374 12 month 14.08.2012
Krungsri Securities CHARNVUT TAECHA-AMORNTANAKIJ buy 5 M 350 12 month 06.08.2012
Globlex Securities Co Ltd ARTIT JANSAWANG buy 5 M 380 Not Provided 03.08.2012
Thanachart Securities PCL SUPANNA SUWANKIRD hold 3 M 325 12 month 17.07.2012
KGI Securities PIYATHIDA VONGVIVATHCHAI outperform 5 M 420 Not Provided 15.05.2012
Country Group Securities PCL MONGKOL PUANGPETRA buy 5 M 442 12 month 30.04.2012
Finansia Syrus Securities PCL SONGKLOD WONGCHAI buy 5 M 395 Not Provided 24.01.2012
Nomura STEWART CALLAGHAN suspended coverage #N/A N/A M #N/A N/A Not Provided 11.09.2011
Holdings By:
PTT PCL ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
PetroChina Company Limited explores, develops, and produces crude oil and
natural gas. The Company also refines, transports, and distributes crude oil
and petroleum products, produces and sells chemicals, and transmits, markets
and sells natural gas.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (08.02.2012) 11.92
52-Week Low (19.12.2011) 8.85
Daily Volume
10.68
52-Week High % Change -10.40% Dividend Yield 3.68
52-Week Low % Change 20.68% Beta 1.01
% 52 Week Price Range High/Low 68.08% Equity Float 20'807.38
Shares Out 30.06.2012 21'098.9 Short Int -
2'000'909.63 1 Yr Total Return 14.06%
Total Debt 318'002.00 YTD Return 15.01%
Preferred Stock 0.0 Adjusted BETA 1.006
Minority Interest 79'801.0 Analyst Recs 36
Cash and Equivalents 61'590.00 Consensus Rating 3.667
Enterprise Value 2'047'145.60
Average Volume 5 Day 79'141'470
857 HK EQUITY YTD Change - Average Volume 30 Day 68'453'590
857 HK EQUITY YTD % CHANGE - Average Volume 3 Month 67'823'200
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
836'353.0 1'072'604.0 1'019'275.0 1'465'415.0 2'003'843.0 ######### ######### ######### ######### 527'358.0 557'466.0
6.35x 1.78x 2.57x 1.54x 0.88x 5.01x 3.89x 1.00x 0.95x - -
269'727.0 256'680.0 237'168.0 303'643.0 323'368.0 167'207.0 243'216.0 347'114.4 380'820.7 - -
19.70x 7.45x 11.04x 7.43x 5.48x 0.00x 0.00x 5.90x 5.38x - -
146'750.0 114'453.0 103'387.0 139'992.0 132'961.0 140'667.0 129'012.0 136'464.9 150'194.4 26'250.3 -
15.86x 9.49x 14.65x 11.33x 10.74x 12.30x 11.62x 11.51x 10.42x - -
EBITDA 323'368.00 Long-Term Rating Date -
EBIT 185'295.00 Long-Term Rating -
Operating Margin 9.25% Long-Term Outlook -
Pretax Margin 9.19% Short-Term Rating Date -
Return on Assets 6.68% Short-Term Rating -
Return on Common Equity 12.80%
Return on Capital 10.29% EBITDA/Interest Exp. 27.94
Asset Turnover 1.09% (EBITDA-Capex)/Interest Exp. 4.79
Net Debt/EBITDA 1.07
Gross Margin - Total Debt/EBITDA 1.34
EBITDA Margin 15.5%
EBIT Margin 8.5% Total Debt/Equity 31.7%
Net Income Margin 6.6% Total Debt/Capital 22.7%
Asset Turnover 1.09
Current Ratio 0.68 Net Fixed Asset Turnover 1.54
Quick Ratio 0.23 Accounts receivable turnover-days 12.81
Debt to Assets 16.58% Inventory Days -
Tot Debt to Common Equity 31.71% Accounts Payable Turnover Day -
Accounts Receivable Turnover 28.58 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
PetroChina Co LtdPrice/Volume
Valuation Analysis
85'496'937.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
-
/
1
3
5
.-
./
.1
l&.. k&.. a&.. g&./ c&./ j&./ W&./ j&./ g&./ g&./ W&./ p&./ l&./'- G
2-'- G
.--'- G
.2-'- G
/--'- G
/2-'- G
0.0
500'000.0
1'000'000.0
1'500'000.0
2'000'000.0
2'500'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-'--
.'--
/'--
0'--
1'--
2'--
3'--
4'--
5'--
6'--
-/'-.'/--6 -/'-4'/--6 -/'-.'/-.- -/'-4'/-.- -/'-.'/-.. -/'-4'/-.. -/'-.'/-./ -/'-4'/-./
FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
ABERDEEN ASSET MANAG n/a EXCH 1'711'231'963 8.11 - 08.08.2012 Investment Advisor
FRANKLIN RESOURCES I n/a Co File 1'270'171'357 6.02 - 31.12.2011 Investment Advisor
JP MORGAN CHASE & CO n/a EXCH 1'247'208'386 5.91 - 09.10.2012 Investment Advisor
BLACKROCK INC n/a EXCH 1'177'565'718 5.58 54'894'896 13.09.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 882'744'136 4.18 16'610'075 30.09.2012 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 452'090'000 2.14 8'582'000 22.10.2012 Investment Advisor
HARBOR CAPITAL ADVIS Multiple Portfolios MF-AGG 350'420'000 1.66 - 30.06.2012 Investment Advisor
CHINA NATIONAL PETRO n/a 20F 291'518'000 1.38 - 31.03.2012 Government
BLACKROCK INC n/a Short (202'404'340) -0.96 (53'778'896) 13.09.2012 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 185'522'740 0.88 (2'561'341) 31.12.2011 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 140'542'355 0.67 26'589'155 29.02.2012 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 127'764'965 0.61 502'000 22.10.2012 Investment Advisor
PICTET & CIE Multiple Portfolios MF-AGG 90'866'000 0.43 3'594'000 31.07.2012 Mutual Fund Manager
TEMPLETON INVESTMENT Multiple Portfolios MF-AGG 79'168'272 0.38 896'000 30.06.2012 Investment Advisor
HARVEST FUND MANAGEM Multiple Portfolios MF-AGG 74'010'000 0.35 9'270'000 31.12.2011 Investment Advisor
SHINHAN BNP PARIBAS Multiple Portfolios MF-AGG 67'291'243 0.32 (15'002'000) 31.03.2012 Investment Advisor
MAPS INVESTMENT MANA Multiple Portfolios MF-AGG 64'988'243 0.31 22'852'243 31.03.2012 Mutual Fund Manager
BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 64'738'000 0.31 - 22.10.2012 Investment Advisor
DANSKE INVEST A/S Multiple Portfolios MF-AGG 63'680'335 0.3 5'048'000 30.09.2012 Investment Advisor
STATE STREET CORP Multiple Portfolios MF-AGG 48'194'378 0.23 (1'184'000) 23.10.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Sanford C. Bernstein & Co NEIL BEVERIDGE market perform 3 M 11 12 month 24.10.2012
Standard Chartered DUKE SUTTIKULPANICH in-line 3 M 11 12 month 22.10.2012
Renaissance Capital BRADLEY WAY buy 5 M 13 12 month 22.10.2012
BNP Paribas Equity Research CHENG KHOO hold 3 M 10 12 month 22.10.2012
Goldman Sachs ARTHUR YAN neutral/neutral 3 M 11 12 month 17.10.2012
Bank of China International LAWRENCE LAU buy 5 M 12 Not Provided 17.10.2012
Jefferies LABAN YU buy 5 M 16 12 month 16.10.2012
Credit Suisse DAVID HEWITT neutral 3 M 11 Not Provided 15.10.2012
Nomura SONIA SONG neutral 3 M 10 Not Provided 09.10.2012
Mirae Asset Securities GORDON KWAN buy 5 M 13 12 month 03.10.2012
Deutsche Bank DAVID HURD hold 3 M 11 12 month 02.10.2012
VTB Capital COLIN SMITH sell 1 N 9 12 month 27.09.2012
EVA Dimensions TEAM COVERAGE overweight 5 D #N/A N/A Not Provided 10.09.2012
DBS Vickers WEE KEAT LEE hold 3 M 10 12 month 24.08.2012
Mizuho Securities ANDREW S F CHAN neutral 3 M 9 12 month 24.08.2012
China International Capital Corp BIN GUAN accumulate 4 M 10 12 month 24.08.2012
Citic Securities Co., Ltd HUANG LILI overweight 5 D 11 6 month 24.08.2012
UOB Kay Hian YAN SHI hold 3 M 11 Not Provided 24.08.2012
BOCOM International Holdings WU FEI long-term buy 5 M 13 Not Provided 24.08.2012
ICBC International Securities ANNA YU hold 3 M 9 Not Provided 24.08.2012
Morgan Stanley WEE KIAT TAN Underwt/In-Line 1 M 9 12 month 23.08.2012
JPMorgan BRYNJAR EIRIK BUSTNES underweight 1 M 9 Not Provided 23.08.2012
HSBC THOMAS C HILBOLDT neutral 3 M 11 Not Provided 23.08.2012
Macquarie JAMES HUBBARD outperform 5 M 12 12 month 23.08.2012
Daiwa Securities Co. Ltd. ADRIAN LOH outperform 5 M 11 Not Provided 23.08.2012
Barclays SCOTT DARLING overweight 5 M 13 Not Provided 23.08.2012
Guotai Junan GRACE LIU accumulate 4 D 11 Not Provided 14.08.2012
Yuanta Securities Investment ConsultingTEAM COVERAGE Under Review #N/A N/A M #N/A N/A Not Provided 15.06.2012
Everbright Securities Co., Ltd VIVIAN CHEUNG not rated #N/A N/A M #N/A N/A Not Provided 31.05.2012
Ji Asia SAMUEL THAWLEY buy 5 M 14 12 month 02.05.2012
Capital Securities Corp TEAM COVERAGE buy 5 U #N/A N/A Not Provided 27.04.2012
GuoSen Securities Co Ltd STEVEN LU neutral 3 M #N/A N/A Not Provided 22.11.2011
RBS PETER HILTON hold 3 M 10 12 month 01.11.2011
SWS Research Co Ltd YE RONG neutral 3 M 10 Not Provided 28.10.2011
Masterlink Securities LI XIN buy 5 M 11 6 month 30.08.2011
Industrial Securities FANG LEI strong buy 5 N #N/A N/A Not Provided 20.07.2009
Holdings By:
PetroChina Co Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Phillips 66 is a downstream energy company. The Company's operations include
oil refining, marketing and transportation. Phillips 66's operations also
include chemical manufacturing and power generation.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (14.09.2012) 48.22
52-Week Low (08.05.2012) 28.75
Daily Volume
44.92
52-Week High % Change -6.84% Dividend Yield -
52-Week Low % Change 56.24% Beta -
% 52 Week Price Range High/Low 83.05% Equity Float 626.92
Shares Out 30.06.2012 626.9 Short Int 8.33
28'161.37 1 Yr Total Return -
Total Debt 391.00 YTD Return -
Preferred Stock 0.0 Adjusted BETA -
Minority Interest 29.0 Analyst Recs 19
Cash and Equivalents - Consensus Rating 4.316
Enterprise Value 33'074.37
Average Volume 5 Day 3'349'549
PSX US EQUITY YTD Change - Average Volume 30 Day 4'346'668
PSX US EQUITY YTD % CHANGE - Average Volume 3 Month 4'074'355
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
- - 112'692.0 146'561.0 196'088.0 0.0 92'530.0 189'621.2 163'676.3 51'786.0 40'929.5
- - - - - #DIV/0! 0.28x 0.17x 0.19x 0.48x 0.61x
- - 503.0 279.0 3'034.0 0.0 1'675.0 8'015.6 6'850.4 2'700.4 1'581.0
- - - - - 0.00x 0.00x 4.13x 4.83x 4.30x 4.72x
- - 476.0 735.0 4'775.0 0.0 1'817.0 4'379.1 3'565.3 1'406.9 792.1
- - - - - 0.00x 0.00x 6.26x 7.57x 6.75x 7.61x
EBITDA 3'034.00 Long-Term Rating Date 01.03.2012
EBIT 2'126.00 Long-Term Rating BBB
Operating Margin 1.08% Long-Term Outlook STABLE
Pretax Margin 3.38% Short-Term Rating Date 01.03.2012
Return on Assets - Short-Term Rating A-2
Return on Common Equity -
Return on Capital - EBITDA/Interest Exp. 178.47
Asset Turnover - (EBITDA-Capex)/Interest Exp. 118.35
Net Debt/EBITDA -
Gross Margin 4.1% Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin - Total Debt/Equity 1.7%
Net Income Margin 2.4% Total Debt/Capital 1.7%
Asset Turnover -
Current Ratio 1.13 Net Fixed Asset Turnover -
Quick Ratio 0.67 Accounts receivable turnover-days -
Debt to Assets 0.90% Inventory Days -
Tot Debt to Common Equity 1.68% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle 3.61
Inventory Turnover -
Fiscal Year Ended
Phillips 66Price/Volume
Valuation Analysis
4'079'469.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
-2
.-
.2/-/20-021-122-
W&./ j&./ g&./ g&./ W&./ p&./ l&./'- G
/'- G
1'- G
3'- G
5'- G
.-'- G
./'- G
.1'- G
.3'- G
0.0
50'000.0
100'000.0
150'000.0
200'000.0
250'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011-'--
-'/-
-'1-
-'3-
-'5-
.'--
.'/-
FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VANGUARD GROUP INC VANGUARD GROUP INC 13F 27'355'955 4.36 27'355'955 30.06.2012 Investment Advisor
BERKSHIRE HATHAWAY I BERKSHIRE HATHAWAY I 13F 27'163'918 4.33 27'163'918 30.06.2012 Investment Advisor
STATE STREET CORP STATE STREET CORPORA 13F 25'720'116 4.1 25'720'116 30.06.2012 Investment Advisor
BARROW HANLEY MEWHIN BARROW HANLEY MEWHIN 13F 19'157'299 3.06 19'157'299 30.06.2012 Investment Advisor
BLACKROCK INSTITUTIO BLACKROCK INSTITUTIO 13F 17'943'343 2.86 17'943'343 30.06.2012 Investment Advisor
WADDELL & REED FINAN WADDELL & REED FINAN 13F 12'279'602 1.96 12'279'602 30.06.2012 Investment Advisor
CAPITAL WORLD INVEST CAPITAL WORLD INVEST 13F 11'345'000 1.81 11'345'000 30.06.2012 Investment Advisor
BLACKROCK ADVISERS BLACKROCK ADVISORS L 13F 8'723'348 1.39 8'723'348 30.06.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 8'487'026 1.35 813'030 30.09.2012 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 8'296'656 1.32 8'296'656 30.06.2012 Investment Advisor
INSTITUTIONAL CAPITA INSTITUTIONAL CAPITA 13F 7'940'598 1.27 7'940'598 30.06.2012 Investment Advisor
NFJ INVESTMENT GROUP NFJ INVESTMENT GROUP 13F 7'741'425 1.23 7'741'425 30.06.2012 Investment Advisor
FIDELITY MANAGEMENT FIDELITY MANAGEMENT 13F 7'382'450 1.18 7'382'450 30.06.2012 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 6'325'286 1.01 6'325'286 30.06.2012 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 6'122'973 0.98 6'122'973 30.06.2012 Investment Advisor
BLACKROCK GROUP LIMI BLACKROCK GROUP LIMI 13F 6'082'919 0.97 6'082'919 30.06.2012 Investment Advisor
BLACKROCK FUND ADVIS BLACKROCK FUND ADVIS 13F 5'588'938 0.89 5'588'938 30.06.2012 Investment Advisor
DIMENSIONAL FUND ADV DIMENSIONAL FUND ADV 13F 5'574'030 0.89 5'574'030 30.06.2012 Investment Advisor
FRANKLIN RESOURCES I FRANKLIN ADVISERS IN 13F 5'190'530 0.83 5'190'530 30.06.2012 Investment Advisor
LSV ASSET MANAGEMENT LSV ASSET MANAGEMENT 13F 4'745'410 0.76 4'745'410 30.06.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Deutsche Bank PAUL SANKEY buy 5 M 50 12 month 23.10.2012
Morgan Stanley J EVAN CALIO Overwt/Attractive 5 M 67 12 month 22.10.2012
Oppenheimer & Co FADEL GHEIT outperform 5 M 55 18 month 19.10.2012
Wells Fargo Securities, LLC ROGER D READ market perform 3 M #N/A N/A Not Provided 18.10.2012
Goldman Sachs ARJUN N MURTI neutral/attractive 3 M 56 6 month 17.10.2012
ISI Group DOUGLAS T TERRESON buy 5 M 50 12 month 17.10.2012
Barclays PAUL Y CHENG overweight 5 M 63 Not Provided 15.10.2012
Credit Suisse EDWARD WESTLAKE neutral 3 M 53 Not Provided 12.10.2012
JPMorgan KATHERINE LUCAS MINYARD overweight 5 M 59 12 month 12.10.2012
Howard Weil Inc BLAKE FERNANDEZ market outperform 4 M 50 12 month 09.10.2012
Raymond James CORY J GARCIA market perform 3 M #N/A N/A Not Provided 09.10.2012
Argus Research Corp PHILIP H WEISS buy 5 M #N/A N/A Not Provided 08.10.2012
Edward Jones BRIAN YOUNGBERG buy 5 M #N/A N/A Not Provided 03.10.2012
Simmons & Company International JEFFREY A DIETERT overweight 5 U #N/A N/A Not Provided 13.09.2012
S&P Capital IQ TANJILA SHAFI buy 5 M 45 Not Provided 01.08.2012
EVA Dimensions TEAM COVERAGE overweight 5 N #N/A N/A Not Provided 17.05.2012
Holdings By:
Phillips 66 ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Formosa Petrochemical Corp. refines crude oil and markets petroleum and petro-
chemical products. The Company operates refineries and naphtha cracking plants
that provide products such as gasoline, diesel, jet fuel, fuel oil, naphtha,
ethylene, and liquefied petroleum gas. FPCC also owns three utility centers and
generates electricity.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (01.11.2011) 99.50
52-Week Low (08.06.2012) 77.50
Daily Volume
82.5
52-Week High % Change -17.09% Dividend Yield -
52-Week Low % Change 6.45% Beta 0.94
% 52 Week Price Range High/Low 24.55% Equity Float 1'033.68
Shares Out 30.06.2012 9'526.0 Short Int 16.15
785'891.69 1 Yr Total Return -8.13%
Total Debt 190'384.79 YTD Return -9.89%
Preferred Stock 0.0 Adjusted BETA 0.940
Minority Interest 0.0 Analyst Recs 22
Cash and Equivalents 51'692.63 Consensus Rating 1.864
Enterprise Value 939'964.67
Average Volume 5 Day 1'107'741
6505 TT EQUITY YTD Change - Average Volume 30 Day 1'562'528
6505 TT EQUITY YTD % CHANGE - Average Volume 3 Month 1'738'706
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
699'314.9 875'573.0 634'232.4 747'307.0 798'533.7 774'528.0 796'483.6 864'043.5 893'850.6 216'640.2 215'680.2
1.45x 0.94x 1.48x 1.43x 1.29x 5.27x 4.89x 1.10x 1.04x - -
95'823.4 51'748.2 78'207.7 67'677.0 46'346.6 70'965.6 5'714.6 37'331.9 57'872.8 11'936.5 11'878.0
10.60x 15.90x 12.00x 15.81x 22.27x 15.18x 161.82x 25.18x 16.24x 19.49x 18.81x
69'610.8 15'193.3 39'192.3 40'923.3 22'498.7 46'898.4 (13'504.2) 9'956.7 30'706.6 8'539.2 6'877.2
12.88x 41.34x 17.89x 23.00x 39.75x 20.50x 0.00x 79.79x 25.32x 27.31x 27.64x
EBITDA 46'346.64 Long-Term Rating Date 06.05.2009
EBIT 20'870.69 Long-Term Rating BBB+
Operating Margin 2.61% Long-Term Outlook NEG
Pretax Margin 3.09% Short-Term Rating Date -
Return on Assets -3.04% Short-Term Rating -
Return on Common Equity -6.28%
Return on Capital - EBITDA/Interest Exp. 16.28
Asset Turnover 1.80% (EBITDA-Capex)/Interest Exp. 15.00
Net Debt/EBITDA 26.96
Gross Margin 3.8% Total Debt/EBITDA 32.54
EBITDA Margin 0.7%
EBIT Margin -2.3% Total Debt/Equity 85.3%
Net Income Margin 2.8% Total Debt/Capital 46.0%
Asset Turnover 1.80
Current Ratio 2.52 Net Fixed Asset Turnover 4.25
Quick Ratio 1.24 Accounts receivable turnover-days 26.93
Debt to Assets 41.23% Inventory Days 41.55
Tot Debt to Common Equity 85.30% Accounts Payable Turnover Day 7.19
Accounts Receivable Turnover 13.59 Cash Conversion Cycle 65.20
Inventory Turnover 8.81
Fiscal Year Ended
Formosa Petrochemical CorpPrice/Volume
Valuation Analysis
1'296'124.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
-
/-
1-
3-
5-
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3'- G
5'- G
.-'- G
./'- G
0.0
100'000.0
200'000.0
300'000.0
400'000.0
500'000.0
600'000.0
700'000.0
800'000.0
900'000.0
1'000'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-'--
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.2-'--
/--'--
/2-'--
0--'--
02-'--
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
FORMOSA PLASTICS COR n/a EXCH 2'791'897'010 29.31 - 31.07.2012 Corporation
FORMOSA CHEMICALS & n/a EXCH 2'371'706'801 24.9 - 31.07.2012 Corporation
NAN YA PLASTICS CORP n/a EXCH 2'271'006'014 23.84 - 31.07.2012 Corporation
CHANG GUNG MEDICAL F n/a EXCH 471'161'791 4.95 - 31.07.2012 n/a
FORMOSA TAFFETA CO L n/a Co File 365'267'576 3.83 - 16.04.2012 Corporation
SINGAPORE PRIVATE CO n/a Co File 67'543'170 0.71 - 16.04.2012 n/a
CHUANG SHIH CAPITAL n/a Co File 57'210'690 0.6 - 16.04.2012 n/a
PAO ERH ENERGY CO AC n/a Co File 48'157'064 0.51 - 16.04.2012 n/a
VANGUARD GROUP INC Multiple Portfolios MF-AGG 47'669'661 0.5 1'273'000 30.09.2012 Investment Advisor
CENTRAL CAPITAL MANA n/a Co File 46'991'790 0.49 - 16.04.2012 n/a
YA TAI PHOTOELECTRIC n/a Co File 45'901'634 0.48 - 16.04.2012 n/a
BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 20'057'000 0.21 - 22.10.2012 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 19'265'950 0.2 56'000 22.10.2012 Investment Advisor
POLARIS SEC INVESTME Multiple Portfolios MF-AGG 18'782'000 0.2 (890'000) 30.06.2012 Mutual Fund Manager
HSBC ASSET MANAGEMEN Multiple Portfolios MF-AGG 3'376'000 0.04 (867'000) 30.06.2012 Investment Advisor
FIDELITY INTERNATION Multiple Portfolios MF-AGG 3'095'621 0.03 2'387'948 31.10.2011 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 2'938'013 0.03 (80'000) 22.10.2012 Investment Advisor
PRUDENTIAL FINANCIAL Multiple Portfolios MF-AGG 2'699'000 0.03 1'351'000 30.06.2012 Mutual Fund Manager
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 2'237'000 0.02 (556'000) 30.06.2012 Investment Advisor
EATON VANCE MANAGEME Multiple Portfolios MF-AGG 1'674'473 0.02 107'000 31.08.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Jih Sun Securities LIBAO WAN neutral 3 M #N/A N/A Not Provided 22.10.2012
BNP Paribas Equity Research POR YONG LIANG reduce 2 D 70 12 month 19.10.2012
SinoPac ALVIN LIAO sell 1 M 73 Not Provided 19.10.2012
Barclays SIDNEY YEH underweight 1 N 72 Not Provided 11.10.2012
Credit Suisse JEREMY CHEN underperform 1 M 72 Not Provided 08.10.2012
Fubon Securities KERRY WU reduce 2 M 74 6 month 05.10.2012
President Capital Management TOM HUNG neutral 3 D 81 6 month 05.10.2012
Nomura DAVID WANG reduce 2 M 66 Not Provided 04.10.2012
KGI Securities AARON LIU neutral 3 M 86 12 month 15.09.2012
Mega Securities YOU JIAN-HENG neutral 3 M 80 6 month 14.09.2012
EVA Dimensions TEAM COVERAGE sell 1 D #N/A N/A Not Provided 06.09.2012
Goldman Sachs TOMMY WONG neutral/neutral 3 M 78 12 month 04.09.2012
Macquarie CORINNE JIAN underperform 1 M 65 12 month 04.09.2012
Yuanta Securities Investment ConsultingTEAM COVERAGE Under Review #N/A N/A M #N/A N/A Not Provided 27.08.2012
E Sun Securities HONG CLIFF buy 5 U #N/A N/A Not Provided 16.08.2012
Mizuho Securities ANDREW S F CHAN underperform 1 N 68 12 month 12.07.2012
Deutsche Bank ALDEN LIN sell 1 M 66 12 month 09.07.2012
Morgan Stanley LILY CHEN Underwt/In-Line 1 M 71 12 month 09.07.2012
Capital Securities Corp TEAM COVERAGE neutral 3 M 93 3 month 04.07.2012
JPMorgan SAMUEL SW LEE Rating Suspended #N/A N/A M #N/A N/A Not Provided 10.05.2012
Grand Cathay Securities Co JUN LIAO underperform 1 M 66 Not Provided 21.05.2010
Holdings By:
Formosa Petrochemical Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Husky Energy Inc. is involved in the exploration, development, and production of
crude oil and natural gas in Canada and in international areas. The Company
also conducts upgrading operations, pipeline operations, commodity trading, and
energy infrastructure projects. In addition, Husky manufactures and markets
refined products and operates a retail network.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (16.10.2012) 28.33
52-Week Low (04.06.2012) 22.03
Daily Volume
26.73
52-Week High % Change -5.65% Dividend Yield 4.49
52-Week Low % Change 21.33% Beta 1.02
% 52 Week Price Range High/Low 74.60% Equity Float 297.10
Shares Out 28.09.2012 982.0 Short Int 32.28
26'249.12 1 Yr Total Return 10.50%
Total Debt 3'504.00 YTD Return 12.82%
Preferred Stock 291.0 Adjusted BETA 1.021
Minority Interest 0.0 Analyst Recs 18
Cash and Equivalents 1'841.00 Consensus Rating 2.778
Enterprise Value 28'470.12
Average Volume 5 Day 1'325'167
HSE CN EQUITY YTD Change - Average Volume 30 Day 1'686'528
HSE CN EQUITY YTD % CHANGE - Average Volume 3 Month 1'603'726
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
15'518.0 24'701.0 15'074.0 17'107.0 23'364.0 19'086.0 23'444.0 23'409.1 23'119.4 6'351.8 6'355.8
2.61x 1.10x 1.88x 1.61x 1.09x 5.79x 4.37x 1.24x 1.31x 4.51x 4.53x
5'915.0 6'744.0 3'943.0 3'504.0 5'873.0 4'870.0 5'481.0 5'154.7 5'369.0 1'178.5 1'315.5
6.84x 4.04x 7.20x 7.87x 4.34x 5.54x 4.93x 5.52x 5.30x 5.63x 5.38x
3'214.0 3'751.0 1'416.0 947.0 2'224.0 1'695.0 1'951.0 1'742.6 1'779.8 445.3 479.0
13.68x 6.19x 20.19x 25.29x 10.14x 14.05x 12.54x 14.32x 14.35x 15.00x 13.43x
EBITDA 5'873.00 Long-Term Rating Date 27.07.2006
EBIT 3'354.00 Long-Term Rating BBB+
Operating Margin 14.36% Long-Term Outlook STABLE
Pretax Margin 13.44% Short-Term Rating Date -
Return on Assets 6.20% Short-Term Rating -
Return on Common Equity 11.11%
Return on Capital 10.04% EBITDA/Interest Exp. 14.83
Asset Turnover 0.75% (EBITDA-Capex)/Interest Exp. 2.71
Net Debt/EBITDA 0.35
Gross Margin 78.4% Total Debt/EBITDA 0.73
EBITDA Margin 23.4%
EBIT Margin 12.5% Total Debt/Equity 20.0%
Net Income Margin 9.5% Total Debt/Capital 16.5%
Asset Turnover 0.75
Current Ratio 1.61 Net Fixed Asset Turnover 0.97
Quick Ratio 0.91 Accounts receivable turnover-days 20.15
Debt to Assets 10.81% Inventory Days 128.03
Tot Debt to Common Equity 20.04% Accounts Payable Turnover Day 169.25
Accounts Receivable Turnover 18.16 Cash Conversion Cycle 157.23
Inventory Turnover 2.86
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Husky Energy IncPrice/Volume
Valuation Analysis
1'139'954.00
Current Price (10/dd/yy) Market Data
-
2
.-
.2
/-
/2
0-
l&.. k&.. a&.. g&./ c&./ j&./ W&./ j&./ g&./ g&./ W&./ p&./'- G
.'- G
/'- G
0'- G
1'- G
2'- G
3'- G
4'- G
0.0
5'000.0
10'000.0
15'000.0
20'000.0
25'000.0
30'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-'--
/'--
1'--
3'--
5'--
.-'--
./'--
.1'--
-/'-.'/--6 -/'-4'/--6 -/'-.'/-.- -/'-4'/-.- -/'-.'/-.. -/'-4'/-.. -/'-.'/-./ -/'-4'/-./
FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
KA-SHING LI n/a SEDI 349'869'015 35.63 4'227'003 06.07.2012 n/a
HUTCHISON WHAMPOA LT n/a SEDI 334'141'932 34.03 4'036'993 06.07.2012 Corporation
IG INVESTMENT MANAGE Multiple Portfolios MF-AGG 23'431'996 2.39 (1'375'690) 30.06.2012 Investment Advisor
RBC GLOBAL ASSET MAN Multiple Portfolios MF-AGG 15'465'291 1.57 (62'198) 31.07.2012 Investment Advisor
CAPITAL RESEARCH GLO Multiple Portfolios MF-AGG 10'477'800 1.07 576'800 30.09.2012 Investment Advisor
CAPITAL WORLD INVEST Multiple Portfolios MF-AGG 10'438'450 1.06 - 30.09.2012 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 7'494'587 0.76 (7'766) 22.10.2012 Investment Advisor
IA CLARINGTON INVEST Multiple Portfolios MF-AGG 5'167'000 0.53 22'500 31.03.2012 Investment Advisor
BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 3'499'550 0.36 22'669 23.10.2012 Investment Advisor
FRANKLIN RESOURCES I Multiple Portfolios MF-AGG 3'441'862 0.35 (93'609) 28.09.2012 Investment Advisor
MD MANAGEMENT LTD Multiple Portfolios MF-AGG 3'224'650 0.33 (688'500) 30.09.2012 Investment Advisor
RBC PH&N INV COUNSEL Multiple Portfolios MF-AGG 2'255'370 0.23 (262'496) 31.08.2012 Investment Advisor
TD ASSET MANAGEMENT Multiple Portfolios MF-AGG 2'213'385 0.23 (1'068'051) 31.12.2011 Investment Advisor
MANULIFE ASSET MANAG Multiple Portfolios MF-AGG 2'117'048 0.22 993'834 28.09.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 1'926'632 0.2 (1'654'107) 30.06.2012 Investment Advisor
THORNBURG INVESTMENT Multiple Portfolios MF-AGG 1'771'700 0.18 - 30.06.2012 Investment Advisor
CLARINGTON CAPITAL M Multiple Portfolios MF-AGG 1'770'050 0.18 - 31.03.2012 Mutual Fund Manager
CIBC GLOBAL ASSET MA Multiple Portfolios MF-AGG 1'533'947 0.16 (511'058) 30.06.2012 Investment Advisor
NATCAN INVESTMENT MA Multiple Portfolios MF-AGG 975'315 0.1 (60'500) 28.09.2012 Investment Advisor
CI INVESTMENTS INC Multiple Portfolios MF-AGG 740'150 0.08 4'000 30.06.2012 Hedge Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
JPMorgan KATHERINE LUCAS MINYARD neutral 3 M 30 12 month 23.10.2012
Canaccord Genuity Corp PHILIP R SKOLNICK sell 1 M 26 12 month 22.10.2012
CIBC World Markets ANDREW POTTER sector perform 3 M 29 18 month 19.10.2012
Macquarie CHRIS FELTIN neutral 3 M 28 12 month 18.10.2012
Goldman Sachs ARJUN N MURTI sell/attractive 1 D 23 6 month 17.10.2012
BMO Capital Markets RANDY J OLLENBERGER market perform 3 M 30 Not Provided 16.10.2012
RBC Capital Markets GREG M PARDY sector perform 3 M 31 12 month 16.10.2012
Credit Suisse BRIAN C DUTTON neutral 3 M 31 Not Provided 12.10.2012
Barclays PAUL Y CHENG equalweight 3 M 28 Not Provided 05.10.2012
Edward Jones LANNY PENDILL hold 3 M #N/A N/A Not Provided 26.09.2012
Peters & Co Ltd KAM S SANDHAR sector perform 3 M 28 12 month 24.09.2012
FirstEnergy Capital Corp MICHAEL P DUNN market perform 3 M 27 12 month 17.09.2012
TD Securities MENNO HULSHOF hold 3 M 28 12 month 06.09.2012
Veritas Investment Research Co SAM LA BELL sell 1 M 25 Not Provided 25.07.2012
Scotia Capital MARK POLAK sector perform 3 M 30 12 month 24.07.2012
EVA Dimensions TEAM COVERAGE buy 5 N #N/A N/A Not Provided 06.01.2012
Holdings By:
Husky Energy Inc ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Cenovus Energy Inc. is an integrated oil company. The Company comprises natural
gas, crude oil, and natural gas liquids reserves. Cenovus Energy has
established natural gas and crude oil production in Alberta and Saskatchewan as
well as refineries in Illinois and Texas.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (21.02.2012) 39.64
52-Week Low (19.12.2011) 29.80
Daily Volume
33.84
52-Week High % Change -14.63% Dividend Yield 2.48
52-Week Low % Change 13.56% Beta 1.34
% 52 Week Price Range High/Low 41.06% Equity Float 746.58
Shares Out 28.09.2012 754.8 Short Int 14.15
25'543.20 1 Yr Total Return -4.66%
Total Debt 3'899.00 YTD Return 1.97%
Preferred Stock 0.0 Adjusted BETA 1.345
Minority Interest 0.0 Analyst Recs 24
Cash and Equivalents 495.00 Consensus Rating 4.250
Enterprise Value 29'263.20
Average Volume 5 Day 2'060'989
CVE CN EQUITY YTD Change - Average Volume 30 Day 2'463'221
CVE CN EQUITY YTD % CHANGE - Average Volume 3 Month 2'395'912
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
- - 11'517.0 12'641.0 15'696.0 13'834.0 16'965.0 16'338.8 16'702.0 4'012.4 3'928.8
- - 2.06x 2.26x 1.84x 8.50x 6.83x 1.77x 1.76x 7.22x 7.45x
- - 3'235.0 2'780.0 3'748.0 2'896.0 4'156.0 4'243.3 4'097.4 1'171.0 1'018.0
- - 7.34x 10.26x 7.72x 10.69x 6.78x 6.90x 7.14x 6.92x 6.99x
- - 818.0 1'081.0 1'478.0 1'075.0 1'598.0 1'447.0 1'638.0 426.2 344.6
- - 24.31x 28.44x 19.33x 28.44x 18.50x 17.23x 15.83x 15.81x 15.62x
EBITDA 3'748.00 Long-Term Rating Date 14.09.2009
EBIT 2'453.00 Long-Term Rating BBB+
Operating Margin 15.63% Long-Term Outlook STABLE
Pretax Margin 14.06% Short-Term Rating Date -
Return on Assets 7.46% Short-Term Rating -
Return on Common Equity 17.00%
Return on Capital 14.22% EBITDA/Interest Exp. 8.38
Asset Turnover 0.79% (EBITDA-Capex)/Interest Exp. 2.14
Net Debt/EBITDA 0.90
Gross Margin 91.7% Total Debt/EBITDA 0.99
EBITDA Margin 24.5%
EBIT Margin 15.8% Total Debt/Equity 41.5%
Net Income Margin 9.4% Total Debt/Capital 29.3%
Asset Turnover 0.79
Current Ratio 1.15 Net Fixed Asset Turnover 1.21
Quick Ratio 0.56 Accounts receivable turnover-days 26.48
Debt to Assets 17.57% Inventory Days 272.27
Tot Debt to Common Equity 41.45% Accounts Payable Turnover Day 481.03
Accounts Receivable Turnover 13.82 Cash Conversion Cycle -138.44
Inventory Turnover 1.34
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Cenovus Energy IncPrice/Volume
Valuation Analysis
2'738'009.00
Current Price (10/dd/yy) Market Data
-2
.-
.2/-/20-021-12
l&.. k&.. a&.. g&./ c&./ j&./ W&./ j&./ g&./ g&./ W&./ p&./'- G
.'- G
/'- G
0'- G
1'- G
2'- G
3'- G
4'- G
5'- G
0.0
2'000.0
4'000.0
6'000.0
8'000.0
10'000.0
12'000.0
14'000.0
16'000.0
18'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-'--
/'--
1'--
3'--
5'--
.-'--
./'--
.1'--
-/'-.'/--6 -/'-4'/--6 -/'-.'/-.- -/'-4'/-.- -/'-.'/-.. -/'-4'/-.. -/'-.'/-./ -/'-4'/-./
FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
PYRAMIS GLOBAL ADVIS PYRAMIS GLOBAL ADVIS 13F 29'104'595 3.86 1'600'347 30.06.2012 Investment Advisor
HARRIS ASSOCIATES LP HARRIS ASSOC LP 13F 28'079'711 3.72 386'250 30.06.2012 Investment Advisor
RBC GLOBAL ASSET MAN RBC GLOBAL ASSET MGM 13F 26'953'931 3.57 2'130'069 30.06.2012 Investment Advisor
BMO FINANCIAL CORP BMO FINANCIAL CORP 13F 24'715'810 3.27 413'724 30.09.2012 Investment Advisor
JARISLOWSKY FRASER L JARISLOWSKY FRASER L 13F 23'177'041 3.07 608'706 30.06.2012 Investment Advisor
TD ASSET MANAGEMENT TD ASSET MANAGEMENT 13F 18'239'830 2.42 3'342'579 30.06.2012 Investment Advisor
IG INVESTMENT MANAGE IG INVESTMENT MANAGE 13F 16'314'173 2.16 58'980 30.06.2012 Investment Advisor
MACKENZIE FINANCIAL MACKENZIE FINANCIAL 13F 12'467'019 1.65 872'718 30.06.2012 Investment Advisor
IA CLARINGTON INVEST Multiple Portfolios MF-AGG 11'025'892 1.46 722'700 31.03.2012 Investment Advisor
CIBC WORLD MARKETS I CIBC WORLD MARKETS I 13F 10'932'396 1.45 928'675 30.06.2012 Investment Advisor
INVESCO LTD INVESCO LTD 13F 9'768'299 1.29 2'627'640 30.06.2012 Investment Advisor
TORONTO DOMINION BAN TORONTO DOMINION BAN 13F 9'704'238 1.29 274'354 30.06.2012 Investment Advisor
FIRST EAGLE INVESTME FIRST EAGLE INVESTME 13F 9'386'052 1.24 2'089'640 30.06.2012 Hedge Fund Manager
CONNOR CLARK & LUNN CONNOR CLARK & LUNN 13F 9'296'113 1.23 809'425 30.06.2012 Investment Advisor
CAPITAL GUARDIAN TRU CAPITAL GUARDIAN TRU 13F 9'290'787 1.23 (2'246'170) 30.06.2012 Investment Advisor
THE BANK OF NOVA SCO THE BANK OF NOVA SCO 13F 9'215'428 1.22 64'700 30.06.2012 Investment Advisor
FIERA SCEPTRE INC FIERA SCEPTRE INC 13F 8'301'680 1.1 4'068'127 30.06.2012 Investment Advisor
GREAT WEST LIFE ASSU GREAT WEST LIFE ASSU 13F 8'280'130 1.1 297'912 30.06.2012 Insurance Company
CAISSE DE DEPOT ET P CAISSE DE DEPOT ET P 13F 7'961'477 1.05 15'227 30.06.2012 Investment Advisor
THORNBURG INVESTMENT Multiple Portfolios MF-AGG 7'733'313 1.02 25'500 31.07.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
JPMorgan KATHERINE LUCAS MINYARD neutral 3 M 46 12 month 23.10.2012
Canaccord Genuity Corp PHILIP R SKOLNICK buy 5 M 44 12 month 22.10.2012
RBC Capital Markets GREG M PARDY outperform 5 M 47 12 month 21.10.2012
Macquarie CHRIS FELTIN outperform 5 M 40 12 month 18.10.2012
TD Securities MENNO HULSHOF buy 5 M 43 12 month 18.10.2012
Goldman Sachs ARJUN N MURTI neutral/attractive 3 M 32 6 month 17.10.2012
BMO Capital Markets RANDY J OLLENBERGER outperform 5 M 45 Not Provided 16.10.2012
CIBC World Markets ANDREW POTTER sector outperform 5 M 40 Not Provided 15.10.2012
Societe Generale JOHN HERRLIN hold 3 M 36 12 month 12.10.2012
Credit Suisse BRIAN C DUTTON neutral 3 M 39 Not Provided 12.10.2012
Cormark Securities Inc. TODD KEPLER market perform 3 M 38 12 month 12.10.2012
Tudor Pickering & Co MATTHEW PORTILLO hold 3 M 37 Not Provided 10.10.2012
National Bank Financial KYLE PRESTON outperform 5 M 41 12 month 09.10.2012
Barclays THOMAS R DRISCOLL overweight 5 M 41 Not Provided 05.10.2012
Raymond James JUSTIN BOUCHARD outperform 5 M 40 12 month 01.10.2012
Edward Jones LANNY PENDILL buy 5 M #N/A N/A Not Provided 26.09.2012
FirstEnergy Capital Corp MICHAEL P DUNN outperform 5 M 40 12 month 17.09.2012
EVA Dimensions TEAM COVERAGE hold 3 D #N/A N/A Not Provided 05.09.2012
Veritas Investment Research Co SAM LA BELL buy 5 M 34 Not Provided 26.07.2012
Peters & Co Ltd KAM S SANDHAR sector outperform 5 M 43 12 month 25.07.2012
Scotia Capital MARK POLAK sector perform 3 M 42 12 month 25.07.2012
Stifel Nicolaus AMIR ARIF hold 3 M #N/A N/A Not Provided 20.07.2012
Holdings By:
Cenovus Energy Inc ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Repsol S.A., through subsidiaries, explores for and produces crude oil and
natural gas, refines petroleum, and transports petroleum products and liquefied
petroleum gas (LPG). The Company retails gasoline and other products through
its chain of gasoline filling stations. Repsol's petroleum reserves are in
Spain, Latin America, Asia, North Africa, and the Middle East and United States.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (03.01.2012) 24.23
52-Week Low (25.07.2012) 10.90
Daily Volume
15.155
52-Week High % Change -37.45% Dividend Yield -
52-Week Low % Change 39.04% Beta 1.04
% 52 Week Price Range High/Low 32.60% Equity Float 947.42
Shares Out 30.06.2012 1'256.2 Short Int -
19'037.39 1 Yr Total Return -29.26%
Total Debt 20'122.00 YTD Return -34.58%
Preferred Stock 0.0 Adjusted BETA 1.039
Minority Interest 3'505.0 Analyst Recs 42
Cash and Equivalents 3'351.00 Consensus Rating 4.143
Enterprise Value 36'872.39
Average Volume 5 Day 9'323'280
REP SM EQUITY YTD Change - Average Volume 30 Day 7'922'059
REP SM EQUITY YTD % CHANGE - Average Volume 3 Month 8'215'535
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
52'098.0 58'475.0 45'827.0 53'663.0 60'122.0 56'831.0 60'465.0 56'265.1 58'095.3 10'796.0 10'061.0
0.75x 0.54x 0.96x 0.73x 0.82x 3.11x 2.85x 0.65x 0.61x 3.04x 3.25x
9'030.0 8'009.0 6'686.0 11'919.0 8'509.0 11'472.0 7'731.0 6'809.9 7'260.4 1'819.5 1'650.0
4.33x 3.93x 6.58x 3.30x 5.79x 4.10x 4.36x 5.41x 5.08x 5.27x 5.29x
3'188.0 2'555.0 1'559.0 4'693.0 2'193.0 4'699.0 1'885.0 1'931.2 2'171.8 514.9 435.7
9.34x 7.19x 14.63x 5.43x 13.19x 6.23x 7.89x 9.61x 8.89x 9.46x 9.35x
EBITDA 8'509.00 Long-Term Rating Date 19.04.2012
EBIT 4'990.00 Long-Term Rating BBB-
Operating Margin 8.30% Long-Term Outlook STABLE
Pretax Margin 6.75% Short-Term Rating Date 19.04.2012
Return on Assets 2.90% Short-Term Rating A-3
Return on Common Equity 7.39%
Return on Capital - EBITDA/Interest Exp. 10.88
Asset Turnover 0.93% (EBITDA-Capex)/Interest Exp. 3.83
Net Debt/EBITDA 2.21
Gross Margin - Total Debt/EBITDA 2.78
EBITDA Margin 12.8%
EBIT Margin 7.7% Total Debt/Equity 85.5%
Net Income Margin 3.6% Total Debt/Capital 42.7%
Asset Turnover 0.93
Current Ratio 1.19 Net Fixed Asset Turnover 1.99
Quick Ratio 0.58 Accounts receivable turnover-days 50.52
Debt to Assets 28.36% Inventory Days -
Tot Debt to Common Equity 85.49% Accounts Payable Turnover Day -
Accounts Receivable Turnover 7.24 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Repsol SAPrice/Volume
Valuation Analysis
2'451'522.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
-
2
.-
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/-
/2
l&.. k&.. a&.. g&./ c&./ j&./ W&./ j&./ g&./ g&./ W&./ p&./ l&./'- G
2-'- G
.--'- G
.2-'- G
/--'- G
/2-'- G
0--'- G
0.0
10'000.0
20'000.0
30'000.0
40'000.0
50'000.0
60'000.0
70'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-'--
.'--
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0'--
1'--
2'--
3'--
4'--
5'--
6'--
.-'--
-/'-.'/--6 -/'-4'/--6 -/'-.'/-.- -/'-4'/-.- -/'-.'/-.. -/'-4'/-.. -/'-.'/-./ -/'-4'/-./
FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CAIXABANK n/a Research 157'399'192 12.53 - 08.10.2012 Investment Advisor
SACYR VALLEHERMOSO S n/a Research 122'226'189 9.73 - 08.10.2012 Corporation
PETROLEOS MEXICANOS n/a Research 118'457'652 9.43 - 08.10.2012 Unclassified
REPSOL YPF SA n/a Research 67'582'415 5.38 - 08.10.2012 Holding Company
BNP PARIBAS SA n/a EXCH 41'122'878 3.27 590'450 15.06.2012 Bank
BLACKROCK INC n/a Co File 37'475'651 2.98 - 31.12.2011 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 14'022'327 1.12 612'696 30.06.2012 Investment Advisor
NATIXIS ASSET MANAGE Multiple Portfolios MF-AGG 11'416'282 0.91 2'383'280 01.07.2012 Mutual Fund Manager
FIDELITY MANAGEMENT Multiple Portfolios MF-AGG 8'394'899 0.67 14'398 31.08.2012 Investment Advisor
HSBC BANK PLC n/a Short (6'795'927) -0.54 (618'358) 23.07.2012 Bank
FRANKLIN RESOURCES I Multiple Portfolios MF-AGG 6'726'158 0.54 1'952'204 28.09.2012 Investment Advisor
DEUTSCHE BANK AG Multiple Portfolios MF-AGG 6'713'227 0.53 1'434'238 28.09.2012 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 4'886'516 0.39 39'755 22.10.2012 Investment Advisor
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 4'250'294 0.34 - 30.08.2012 Investment Advisor
UNION INVESTMENT GMB Multiple Portfolios MF-AGG 3'470'396 0.28 - 30.03.2012 Investment Advisor
UNION INVESTMENT LUX Multiple Portfolios MF-AGG 3'458'187 0.28 1'243'507 29.06.2012 Investment Advisor
AMUNDI Multiple Portfolios MF-AGG 2'797'955 0.22 (4'174'797) 31.05.2012 Mutual Fund Manager
SOCIETE GENERALE Multiple Portfolios MF-AGG 2'731'116 0.22 1'962'209 31.05.2012 Bank
HARTFORD INVESTMENT Multiple Portfolios MF-AGG 2'691'185 0.21 (668'092) 31.08.2012 Investment Advisor
BLACKROCK ASSET MANA Multiple Portfolios MF-AGG 2'321'429 0.18 12'464 22.10.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Nomura THEEPAN JOTHILINGAM neutral 3 M 16 12 month 24.10.2012
Barclays LYDIA RAINFORTH overweight 5 M 20 Not Provided 24.10.2012
JPMorgan NITIN SHARMA neutral 3 M 16 12 month 23.10.2012
CA Cheuvreux DOMINIQUE PATRY outperform 5 D 18 Not Provided 23.10.2012
Bankia Bolsa (ESN) SONIA RUIZ DE GARIBAY CUBILLO buy 5 M 20 12 month 22.10.2012
NMAS 1 Agencia de Valores FERNANDO LAFUENTE strong buy 5 M 19 12 month 22.10.2012
EVA Dimensions TEAM COVERAGE overweight 5 D #N/A N/A Not Provided 22.10.2012
Macquarie MARC B KOFLER underperform 1 M 14 12 month 20.10.2012
Tudor Pickering & Co ANISH KAPADIA accumulate 4 M 22 Not Provided 19.10.2012
BPI BRUNO ALMEIDA DA SILVA buy 5 M 19 Not Provided 18.10.2012
Canaccord Genuity Corp GORDON GRAY hold 3 M 16 12 month 18.10.2012
AlphaValue ALEXANDRE ANDLAUER add 4 M 17 6 month 18.10.2012
Goldman Sachs HENRY MORRIS neutral/cautious 3 M 18 12 month 17.10.2012
RBC Capital Markets PETER HUTTON sector perform 3 M 16 12 month 17.10.2012
Day by Day VALERIE GASTALDY buy 5 U 17 3 month 16.10.2012
Credit Suisse THOMAS YOICHI ADOLFF outperform 5 M 19 Not Provided 15.10.2012
Banco Sabadell JORGE GONZALEZ SADORNIL buy 5 M 16 12 month 12.10.2012
Sanford C. Bernstein & Co OSWALD CLINT outperform 5 M 21 12 month 11.10.2012
Exane BNP Paribas ALEXANDRE MARIE outperform 5 M 20 Not Provided 11.10.2012
Interdin Bolsa ALEJANDRO MIRANDA FOURNIER buy 5 M 22 Not Provided 03.10.2012
Grupo Santander JASON KENNEY buy 5 M 19 Not Provided 18.09.2012
Jefferies BRENDAN MICHAEL WARN hold 3 M 16 12 month 17.09.2012
Independent Research GmbH SVEN DIERMEIER sell 1 D 12 12 month 23.08.2012
Inverseguros Sociedad de Valores LUIS ROSE neutral 3 D 17 Not Provided 21.08.2012
S&P Capital IQ CHRISTINE TISCARENO buy 5 M 20 12 month 02.08.2012
HSBC PAUL SPEDDING overweight 5 M 18 Not Provided 01.08.2012
Landesbank Baden-Wuerttemberg ACHIM WITTMANN buy 5 M 17 Not Provided 30.07.2012
Equita SIM SpA MASSIMO BONISOLI buy 5 M 18 12 month 30.07.2012
Societe Generale IRENE HIMONA buy 5 M 16 12 month 27.07.2012
Natixis ANNE PUMIR neutral 3 M 15 Not Provided 27.07.2012
Espirito Santo Investment Bank ResearchFILIPE ROSA buy 5 M 18 Not Provided 26.07.2012
Banesto Bolsa SA Sociedad ROBERT JACKSON overweight 5 M 19 12 month 26.07.2012
Deutsche Bank MARK BLOOMFIELD hold 3 M 16 12 month 24.07.2012
Investec STUART JOYNER hold 3 M 12 12 month 02.07.2012
Morgan Stanley HAYTHEM RASHED Equalwt/In-Line 3 M 14 12 month 01.07.2012
BBVA LUIS DE TOLEDO outperform 5 M 18 Not Provided 25.06.2012
Intermoney Valores ALVARO NAVARRO buy 5 M 19 12 month 06.06.2012
Kepler Capital Markets NATALIA BOBO BJOERK hold 3 M 18 Not Provided 30.05.2012
La Caixa FERNANDO MURILLO GUIRAO buy 5 M 21 Not Provided 23.04.2012
Holdings By:
Repsol SA ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Devon Energy Corporation is an independent energy company that is involved
primarily in oil and gas exploration, development and production, the
transportation of oil, gas, and NGLs and the processing of natural gas. The
Company also has marketing and midstream operations primarily in North America
that include gas, crude oil and NGLs.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (19.03.2012) 76.34
52-Week Low (26.06.2012) 54.01
Daily Volume
59.59
52-Week High % Change -21.94% Dividend Yield 1.24
52-Week Low % Change 10.33% Beta 1.25
% 52 Week Price Range High/Low 24.99% Equity Float 377.70
Shares Out 18.07.2012 404.5 Short Int 7.41
24'104.15 1 Yr Total Return -5.36%
Total Debt 9'780.00 YTD Return -2.96%
Preferred Stock 0.0 Adjusted BETA 1.248
Minority Interest 0.0 Analyst Recs 30
Cash and Equivalents 7'058.00 Consensus Rating 4.333
Enterprise Value 27'662.16
Average Volume 5 Day 2'557'078
DVN US EQUITY YTD Change - Average Volume 30 Day 2'673'545
DVN US EQUITY YTD % CHANGE - Average Volume 3 Month 2'951'929
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
11'362.0 13'615.0 8'136.0 10'017.0 10'965.0 9'775.0 10'190.0 8'799.5 10'064.1 2'095.5 2'251.6
4.02x 2.56x 4.85x 3.66x 2.53x 14.70x 11.02x 3.25x 2.95x 13.50x 12.77x
7'380.0 8'952.0 4'391.0 5'936.0 6'389.0 5'533.0 5'643.0 5'306.2 6'201.6 1'260.3 1'349.9
6.19x 3.89x 8.99x 6.17x 4.35x 6.17x 4.79x 5.21x 4.46x 4.99x 4.73x
3'606.0 (2'148.0) (2'479.0) 4'550.0 4'704.0 5'811.0 2'415.0 1'311.2 1'846.3 267.4 333.0
12.68x 8.59x 22.41x 13.65x 24.70x 13.47x 12.26x 18.81x 13.09x 16.37x 14.45x
EBITDA 6'389.00 Long-Term Rating Date 18.03.2008
EBIT 4'141.00 Long-Term Rating BBB+
Operating Margin 37.77% Long-Term Outlook STABLE
Pretax Margin 39.12% Short-Term Rating Date 29.08.2000
Return on Assets 5.89% Short-Term Rating A-2
Return on Common Equity 10.99%
Return on Capital 8.56% EBITDA/Interest Exp. 15.07
Asset Turnover 0.25% (EBITDA-Capex)/Interest Exp. -2.70
Net Debt/EBITDA 0.63
Gross Margin 43.1% Total Debt/EBITDA 1.88
EBITDA Margin 55.4%
EBIT Margin 30.3% Total Debt/Equity 45.6%
Net Income Margin 42.9% Total Debt/Capital 31.3%
Asset Turnover 0.25
Current Ratio 1.38 Net Fixed Asset Turnover 0.41
Quick Ratio 1.25 Accounts receivable turnover-days 44.02
Debt to Assets 23.79% Inventory Days 10.15
Tot Debt to Common Equity 45.64% Accounts Payable Turnover Day 80.67
Accounts Receivable Turnover 8.31 Cash Conversion Cycle -37.01
Inventory Turnover 36.07
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Devon Energy CorpPrice/Volume
Valuation Analysis
2'841'817.00
Current Price (10/dd/yy) Market Data
-
.-
/-
0-
1-
2-
3-
4-
5-
l&.. k&.. a&.. g&./ c&./ j&./ W&./ j&./ g&./ g&./ W&./ p&./ l&./'- G
/'- G
1'- G
3'- G
5'- G
.-'- G
./'- G
.1'- G
0.0
2'000.0
4'000.0
6'000.0
8'000.0
10'000.0
12'000.0
14'000.0
16'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-'--
.'--
/'--
0'--
1'--
2'--
3'--
4'--
5'--
6'--
-/'-.'/--6 -/'-4'/--6 -/'-.'/-.- -/'-4'/-.- -/'-.'/-.. -/'-4'/-.. -/'-.'/-./ -/'-4'/-./
FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
MITCHELL GEORGE PHYD n/a 13D 23'372'374 5.78 - 07.03.2012 n/a
CAPITAL RESEARCH GLO CAPITAL RESEARCH GLO 13F 16'992'400 4.2 554'500 30.06.2012 Investment Advisor
STATE STREET CORP STATE STREET CORPORA 13F 16'730'786 4.14 80'059 30.06.2012 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 16'571'756 4.1 355'925 30.06.2012 Investment Advisor
BLACKROCK INSTITUTIO BLACKROCK INSTITUTIO 13F 10'577'503 2.61 (62'259) 30.06.2012 Investment Advisor
DAVIS SELECTED ADVIS DAVIS SELECTED ADVIS 13F 9'951'837 2.46 (78'381) 30.06.2012 Investment Advisor
GOLDMAN SACHS GROUP GOLDMAN SACHS GROUP 13F 7'755'019 1.92 (777'245) 30.06.2012 Investment Advisor
FIDUCIARY MANAGEMENT FIDUCIARY MANAGEMENT 13F 7'556'637 1.87 1'623'592 30.06.2012 Investment Advisor
BLACKROCK ADVISERS BLACKROCK ADVISORS L 13F 6'123'277 1.51 1'856'108 30.06.2012 Investment Advisor
HARRIS ASSOCIATES LP HARRIS ASSOC LP 13F 5'485'855 1.36 5'485'855 30.06.2012 Investment Advisor
JP MORGAN CHASE & CO JP MORGAN CHASE & CO 13F 5'454'337 1.35 (2'129'440) 30.06.2012 Investment Advisor
INTERNATIONAL VALUE INTERNATIONAL VALUE 13F 5'394'780 1.33 328'502 30.06.2012 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 5'386'219 1.33 496'720 30.06.2012 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 5'303'634 1.31 692'553 30.06.2012 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 5'171'553 1.28 488'559 30.06.2012 Investment Advisor
BLACKROCK GROUP LIMI BLACKROCK GROUP LIMI 13F 5'170'067 1.28 (458'370) 30.06.2012 Investment Advisor
LAZARD ASSET MANAGEM LAZARD ASSET MANAGEM 13F 5'015'373 1.24 673'530 30.06.2012 Investment Advisor
GREENHAVEN ASSOCIATE GREENHAVEN ASSOCIATE 13F 4'677'518 1.16 (63'245) 30.06.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 4'659'116 1.15 (23'667) 30.09.2012 Investment Advisor
INVESCO LTD INVESCO LTD 13F 4'342'908 1.07 (537'158) 30.06.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Credit Suisse ARUN JAYARAM outperform 5 M 78 Not Provided 23.10.2012
Susquehanna Financial Group DUANE GRUBERT Positive 4 M 74 12 month 23.10.2012
Sanford C. Bernstein & Co BOB BRACKETT market perform 3 M 70 12 month 22.10.2012
Macquarie JOSEPH MAGNER neutral 3 M 69 12 month 22.10.2012
Alembic Global Advisors JAMES J SULLIVAN overweight 5 M 87 12 month 22.10.2012
Jefferies BIJU Z PERINCHERIL buy 5 M 89 12 month 19.10.2012
Robert W. Baird & Co HSULIN PENG outperform 5 M 75 12 month 19.10.2012
Johnson Rice & Co CHARLES MEADE equalweight 3 M #N/A N/A Not Provided 19.10.2012
Oppenheimer & Co FADEL GHEIT outperform 5 M 75 18 month 19.10.2012
Wells Fargo Securities, LLC DAVID R TAMERON market perform 3 M #N/A N/A Not Provided 18.10.2012
Goldman Sachs BRIAN SINGER buy/attractive 5 M 80 6 month 17.10.2012
RBC Capital Markets SCOTT HANOLD outperform 5 M 82 12 month 16.10.2012
Deutsche Bank STEPHEN RICHARDSON hold 3 M 70 12 month 15.10.2012
Simmons & Company International DAVID W KISTLER overweight 5 M 97 Not Provided 15.10.2012
Raymond James ANDREW COLEMAN outperform 5 M 71 12 month 12.10.2012
Buckingham Research Group ROBERT L CHRISTENSEN JR buy 5 M 93 12 month 11.10.2012
Capital One Southcoast, Inc. MARSHALL H CARVER VI add 4 M 95 Not Provided 09.10.2012
EVA Dimensions TEAM COVERAGE overweight 5 D #N/A N/A Not Provided 09.10.2012
Societe Generale JOHN HERRLIN buy 5 M 68 12 month 05.10.2012
Barclays THOMAS R DRISCOLL equalweight 3 M 67 Not Provided 05.10.2012
Argus Research Corp PHILIP H WEISS hold 3 M #N/A N/A Not Provided 02.10.2012
Howard Weil Inc PETER KISSEL market outperform 4 M 77 12 month 02.10.2012
JPMorgan JOSEPH D ALLMAN overweight 5 M 74 12 month 02.10.2012
FBR Capital Markets REHAN RASHID outperform 5 U 80 12 month 02.10.2012
Guggenheim Securities LLC ROBERT CORDRAY buy 5 M 83 12 month 27.09.2012
Tudor Pickering & Co BRIAN LIVELY accumulate 4 M 84 Not Provided 28.08.2012
Peters & Co Ltd KAM S SANDHAR sector outperform 5 M 80 12 month 01.08.2012
Holdings By:
Devon Energy Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Gazprom Neft JSC is an integrated oil company engaged in the exploration,
development, production, transportation, and sale of crude oil and gas. The
Company is involved in oil refining, marketing of petroleum products, oilfield
services, and construction and development of exploration wells. Gazprom sells
its products through its sales network in Russia as well as exports worldwide.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (07.09.2012) 177.25
52-Week Low (24.05.2012) 119.20
Daily Volume
155.09
52-Week High % Change -12.50% Dividend Yield -
52-Week Low % Change 30.11% Beta 0.82
% 52 Week Price Range High/Low 60.43% Equity Float 204.53
Shares Out 30.09.2012 4'741.3 Short Int -
735'328.13 1 Yr Total Return 26.55%
Total Debt 6'697.00 YTD Return 9.89%
Preferred Stock 0.0 Adjusted BETA 0.816
Minority Interest 1'434.0 Analyst Recs 15
Cash and Equivalents 1'443.00 Consensus Rating 4.333
Enterprise Value 28'988.84
Average Volume 5 Day 604'174
SIBN RM EQUITY YTD Change - Average Volume 30 Day 286'269
SIBN RM EQUITY YTD % CHANGE - Average Volume 3 Month 309'783
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 12/12 Q4 03/13 Q1
21'100.4 33'075.0 24'166.0 32'772.0 44'172.0 38'791.0 46'512.2 44'984.6 45'866.2 11'355.0 -
1.52x 0.35x 1.39x 0.83x 0.65x 2.93x 2.36x 0.65x 0.61x 2.73x -
5'827.8 7'558.0 5'046.0 6'277.0 8'942.0 7'824.0 8'749.2 8'692.1 8'584.9 2'214.5 -
5.51x 1.55x 6.66x 4.35x 3.19x 3.73x 3.31x 3.34x 3.38x - -
4'142.8 4'658.0 3'013.0 3'148.0 5'352.0 4'251.0 5'332.8 5'146.2 4'900.4 795.3 -
7.10x 2.17x 8.53x 6.29x 4.07x 5.23x 4.31x 4.56x 4.75x - -
EBITDA 8'942.00 Long-Term Rating Date 09.01.2008
EBIT 6'979.00 Long-Term Rating BBB-
Operating Margin 15.80% Long-Term Outlook STABLE
Pretax Margin 15.46% Short-Term Rating Date -
Return on Assets 14.88% Short-Term Rating -
Return on Common Equity 24.78%
Return on Capital 19.99% EBITDA/Interest Exp. 27.18
Asset Turnover 1.30% (EBITDA-Capex)/Interest Exp. 14.93
Net Debt/EBITDA 0.47
Gross Margin - Total Debt/EBITDA 0.82
EBITDA Margin 18.8%
EBIT Margin 14.6% Total Debt/Equity 28.5%
Net Income Margin 12.1% Total Debt/Capital 21.2%
Asset Turnover 1.30
Current Ratio 2.05 Net Fixed Asset Turnover 2.63
Quick Ratio 0.73 Accounts receivable turnover-days 17.50
Debt to Assets 18.26% Inventory Days -
Tot Debt to Common Equity 28.48% Accounts Payable Turnover Day -
Accounts Receivable Turnover 20.91 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Gazprom Neft OAOPrice/Volume
Valuation Analysis
476'070.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
-/-1-3-5-
.--
./-
.1-
.3-
.5-
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.'2 G
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/'2 G
0.0
5'000.0
10'000.0
15'000.0
20'000.0
25'000.0
30'000.0
35'000.0
40'000.0
45'000.0
50'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-'--
.'--
/'--
0'--
1'--
2'--
3'--
4'--
5'--
-1'-.'/--6 -1'-4'/--6 -1'-.'/-.- -1'-4'/-.- -1'-.'/-.. -1'-4'/-.. -1'-.'/-./ -1'-4'/-./
FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
OAO GAZPROM n/a Research 4'267'169'824 90 - 30.09.2011 Government
GAZPROM FINANCE BV n/a Research 269'263'157 5.68 - 30.09.2011 Unclassified
SWEDBANK ROBUR FONDE Multiple Portfolios MF-AGG 4'965'545 0.1 900'000 30.06.2012 Investment Advisor
URALSIB JSC Multiple Portfolios MF-AGG 4'521'510 0.1 (5'000) 31.05.2012 Investment Advisor
EAST CAPITAL ASSET M Multiple Portfolios MF-AGG 1'972'959 0.04 (220'000) 30.06.2012 Investment Advisor
KAPITAL ASSET MANAGE n/a Research 917'800 0.02 - 25.04.2012 Investment Advisor
TKB BNP PARIBAS Multiple Portfolios MF-AGG 567'860 0.01 (44'000) 28.09.2012 Mutual Fund Manager
BANK OF MOSCOW Multiple Portfolios MF-AGG 297'970 0.01 (230'001) 29.06.2012 Bank
DYUKOV ALEXANDER n/a Research 254'134 0.01 - 26.10.2011 n/a
VTB ASSET MANAGEMENT Multiple Portfolios MF-AGG 150'259 0 (15'400) 31.08.2012 Investment Advisor
EATON VANCE MANAGEME Multiple Portfolios MF-AGG 77'000 0 - 31.08.2012 Investment Advisor
ARSAGERA LTD Multiple Portfolios MF-AGG 59'350 0 13'810 30.11.2011 Mutual Fund Manager
BARANOV VITALIY VITA n/a Research 36'271 0 - 15.12.2011 n/a
BARCLAYS MULTI-MANAG Multiple Portfolios MF-AGG 32'000 0 16'000 31.08.2012 Investment Advisor
MANAGEMENT-CONSULTIN Multiple Portfolios MF-AGG 30'000 0 30'000 28.09.2012 Mutual Fund Manager
KAPITAL FUNDS Multiple Portfolios MF-AGG 25'000 0 (70'500) 28.09.2012 Investment Advisor
YAKOVLEV VADIM VLADI n/a Research 21'526 0 - 15.12.2011 n/a
ZILBERMINTS BORIS SE n/a Research 20'000 0 - 30.09.2011 n/a
INTRAST JSC Multiple Portfolios MF-AGG 16'080 0 (3'530) 29.02.2012 Investment Advisor
OFI ASSET MANAGEMENT Multiple Portfolios MF-AGG 13'584 0 - 29.06.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
JPMorgan ANDREY GROMADIN overweight 5 M 207 12 month 24.10.2012
Uralsib ALEXEI KOKIN buy 5 M 185 Not Provided 17.10.2012
VTB Capital DMITRY LOUKASHOV buy 5 M 286 12 month 11.10.2012
Deutsche Bank PAVEL KUSHNIR buy 5 M 210 12 month 02.10.2012
Infina Investment Company ALEXANDER IVANISCHEV buy 5 M 217 Not Provided 01.10.2012
Nomos Bank DENIS BORISOV hold 3 M 164 Not Provided 17.09.2012
Otkritie Capital ALEXANDER BURGANSKY hold 3 M 163 Not Provided 27.08.2012
Veles Capital VASILIY TANURKOV buy 5 M 257 Not Provided 24.08.2012
RMG Securities MIKHAIL LOSHININ buy 5 M 232 Not Provided 12.07.2012
IFC Metropol SERGEY VAKHRAMEEV buy 5 M 189 12 month 18.04.2012
Sberbank CIB OLEG MAXIMOV buy 5 M 163 Not Provided 13.04.2012
Aton LLC SLAVA BUNKOV sell 1 M 120 12 month 20.01.2012
Credit Suisse ANDREY OVCHINNIKOV neutral 3 M 180 Not Provided 10.01.2012
Holdings By:
Gazprom Neft OAO ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
INPEX CORPORATION is a holding company established through the reorganization of
INPEX Corp and Teikoku Oil. The Company manages subsidiaries that explores,
produces, and sells oil and natural gas.
Latest Fiscal Year: 03/2012
LTM as of: 06/yy
52-Week High (27.02.2012) 611'000.00
52-Week Low (26.07.2012) 418'500.00
Daily Volume
468500
52-Week High % Change -23.32% Dividend Yield 1.49
52-Week Low % Change 11.95% Beta 1.08
% 52 Week Price Range High/Low 31.17% Equity Float 2.22
Shares Out 30.09.2012 3.7 Short Int -
1'712'746.50 1 Yr Total Return -8.25%
Total Debt 318'922.00 YTD Return -2.00%
Preferred Stock 0.0 Adjusted BETA 1.077
Minority Interest 134'941.0 Analyst Recs 19
Cash and Equivalents 675'285.00 Consensus Rating 4.789
Enterprise Value 1'525'791.52
Average Volume 5 Day 6'630
1605 JP EQUITY YTD Change - Average Volume 30 Day 8'806
1605 JP EQUITY YTD % CHANGE - Average Volume 3 Month 8'706
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.03.2008 31.03.2009 31.03.2010 31.03.2011 31.03.2012 06/yy 06/yy 03/13 Y 03/14 Y 09/12 Q2 12/12 Q3
1'202'965.0 1'076'164.0 840'427.0 943'080.0 1'186'731.0 ######### ######### ######### ######### 295'378.5 300'268.5
2.14x 1.48x 1.93x 2.50x 1.53x 7.17x 5.57x 1.54x 1.74x - -
757'008.0 712'992.0 508'780.0 590'747.0 764'143.0 638'620.0 584'503.0 703'979.2 709'611.0 - -
3.40x 2.24x 3.19x 3.99x 2.38x 3.50x 0.00x 2.17x 2.15x - -
173'245.0 145'062.0 107'210.0 128'699.0 194'000.0 136'871.0 223'777.0 175'160.1 154'742.6 - -
15.10x 11.09x 15.06x 15.45x 10.52x 15.28x 7.25x 9.59x 11.08x - -
EBITDA 764'143.00 Long-Term Rating Date 01.10.2008
EBIT 709'357.00 Long-Term Rating A
Operating Margin 59.77% Long-Term Outlook STABLE
Pretax Margin 64.63% Short-Term Rating Date 01.10.2008
Return on Assets 6.75% Short-Term Rating A-1
Return on Common Equity 9.29%
Return on Capital 9.21% EBITDA/Interest Exp. 622.77
Asset Turnover 0.41% (EBITDA-Capex)/Interest Exp. 567.10
Net Debt/EBITDA -0.47
Gross Margin 66.7% Total Debt/EBITDA 0.42
EBITDA Margin 64.4%
EBIT Margin 59.8% Total Debt/Equity 14.6%
Net Income Margin 16.3% Total Debt/Capital 12.1%
Asset Turnover 0.41
Current Ratio 2.47 Net Fixed Asset Turnover 3.11
Quick Ratio 2.13 Accounts receivable turnover-days 29.10
Debt to Assets 10.40% Inventory Days 11.16
Tot Debt to Common Equity 14.63% Accounts Payable Turnover Day 24.85
Accounts Receivable Turnover 12.58 Cash Conversion Cycle 15.41
Inventory Turnover 32.80
Fiscal Year Ended
Inpex CorpPrice/Volume
Valuation Analysis
9'217.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
-
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0.0
200'000.0
400'000.0
600'000.0
800'000.0
1'000'000.0
1'200'000.0
1'400'000.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
-'--
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
MINISTER OF ECON TRA n/a Co File 692'307 18.94 - 31.03.2012 Government
JAPAN PETROLEUM EXPL n/a Co File 267'233 7.31 - 31.03.2012 Corporation
MITSUI OIL EXPLORATI n/a Co File 164'760 4.51 (12'000) 31.03.2012 Corporation
JAPAN TRUSTEE SERVIC n/a Co File 138'627 3.79 13'159 31.03.2012 Bank
MITSUBISHI CORP n/a Co File 134'500 3.68 - 31.03.2012 Corporation
JP MORGAN CHASE BANK n/a Co File 117'846 3.22 14'217 31.03.2012 Investment Advisor
CAPITAL WORLD INVEST Multiple Portfolios MF-AGG 112'325 3.07 (1'998) 30.09.2012 Investment Advisor
JX HOLDINGS INC n/a Co File 109'527 3 - 31.03.2012 Corporation
MASTER TRUST BANK OF n/a Co File 108'455 2.97 (10'451) 31.03.2012 Bank
JP MORGAN CHASE BANK n/a Co File 104'860 2.87 7'080 31.03.2012 Investment Advisor
STATE STREET BANK AN n/a Co File 69'983 1.91 (20'700) 31.03.2012 Bank
VANGUARD GROUP INC Multiple Portfolios MF-AGG 63'531 1.74 (5'701) 30.06.2012 Investment Advisor
MASSACHUSETTS FINANC Multiple Portfolios MF-AGG 42'968 1.18 208 31.08.2012 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 23'307 0.64 (136) 22.10.2012 Investment Advisor
MARUBENI CORP n/a Co File 23'223 0.64 (23'223) 31.03.2012 Corporation
JABRE CAPITAL PARTNE n/a Research 21'952 0.6 - 13.12.2010 Hedge Fund Manager
T ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 21'826 0.6 5'685 30.09.2012 Investment Advisor
BLACKROCK INVESTMENT Multiple Portfolios MF-AGG 17'223 0.47 2 30.06.2012 Investment Advisor
RUFFER LLP Multiple Portfolios MF-AGG 16'950 0.46 (2'944) 31.05.2012 Hedge Fund Manager
NOMURA ASSET MANAGEM Multiple Portfolios MF-AGG 16'007 0.44 (1'091) 22.06.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Goldman Sachs HISAAKI YOKOO Buy/Neutral 5 M 690'000 12 month 17.10.2012
Credit Suisse YUJI NISHIYAMA outperform 5 M 780'000 Not Provided 12.10.2012
Nomura SHIGEKI MATSUMOTO buy 5 M 703'000 12 month 10.10.2012
SMBC Nikko Securities Inc HIDETOSHI SHIODA outperform 5 M 750'000 12 month 03.09.2012
Barclays KAZUHISA MORI overweight 5 N 809'000 Not Provided 03.09.2012
Macquarie POLINA DIYACHKINA outperform 5 M 720'000 12 month 16.08.2012
Mizuho Securities NORIMASA SHINYA buy 5 M 810'000 12 month 13.08.2012
Mitsubishi UFJ Morgan Stanley SecuritieREIJI OGINO neutral 3 M 520'000 12 month 13.08.2012
Okasan Securities SHINICHI YAMAZAKI buy 5 M 630'000 6 month 10.08.2012
JPMorgan BRYNJAR EIRIK BUSTNES overweight 5 M 750'000 Not Provided 05.08.2012
Deutsche Bank MASAYUKI NAGANO buy 5 M 600'000 12 month 03.08.2012
Daiwa Securities Co. Ltd. TAKAHIRO YANO outperform 5 M 700'000 Not Provided 25.05.2012
Tachibana Securities HISAYUKI SHIMOKAWA Strong Outperform 5 M #N/A N/A Not Provided 17.05.2012
Morgan Stanley LALITA GUPTA Overwt/In-Line 5 M 642'000 12 month 10.05.2012
EVA Dimensions TEAM COVERAGE buy 5 M #N/A N/A Not Provided 30.11.2011
Mizuho Investors HIROFUMI KAWACHI underperform 1 M #N/A N/A Not Provided 29.06.2009
Holdings By:
Inpex Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Marathon Oil Corporation is an independent international energy company engaged
in exploration and production, oil sands mining and integrated gas. The
Company's operations are focused in North America, Africa and Europe.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (28.02.2012) 35.49
52-Week Low (22.06.2012) 23.17
Daily Volume
29.56
52-Week High % Change -16.71% Dividend Yield 2.17
52-Week Low % Change 27.58% Beta 1.37
% 52 Week Price Range High/Low 51.87% Equity Float 703.36
Shares Out 29.06.2012 705.4 Short Int 11.70
20'852.58 1 Yr Total Return 15.23%
Total Debt 4'815.00 YTD Return 2.82%
Preferred Stock 0.0 Adjusted BETA 1.366
Minority Interest 7.0 Analyst Recs 22
Cash and Equivalents 493.00 Consensus Rating 4.091
Enterprise Value 25'650.58
Average Volume 5 Day 7'958'313
MRO US EQUITY YTD Change - Average Volume 30 Day 7'222'381
MRO US EQUITY YTD % CHANGE - Average Volume 3 Month 6'882'113
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
59'621.0 71'471.0 48'291.0 11'690.0 14'663.0 13'611.0 14'834.0 14'694.8 15'672.0 3'362.5 3'809.7
0.83x 0.35x 0.59x 2.59x 1.70x 10.18x 6.06x 1.78x 1.62x 7.84x 6.84x
7'830.0 8'726.0 5'491.0 5'544.0 6'770.0 6'193.0 7'354.0 8'378.0 9'099.9 2'102.6 2'326.9
6.29x 2.89x 5.20x 5.45x 3.68x 6.12x 3.10x 3.06x 2.82x 2.83x 2.75x
3'956.0 3'528.0 1'463.0 2'568.0 2'946.0 3'394.0 1'764.0 1'856.0 2'369.8 423.4 514.4
11.23x 4.36x 20.54x 13.92x 9.12x 18.36x 9.69x 11.18x 9.03x 9.78x 9.15x
EBITDA 6'770.00 Long-Term Rating Date 01.07.2011
EBIT 4'504.00 Long-Term Rating BBB
Operating Margin 30.72% Long-Term Outlook STABLE
Pretax Margin 30.19% Short-Term Rating Date 29.08.2008
Return on Assets 5.62% Short-Term Rating A-2
Return on Common Equity 10.23%
Return on Capital - EBITDA/Interest Exp. 15.67
Asset Turnover 0.47% (EBITDA-Capex)/Interest Exp. 8.04
Net Debt/EBITDA 0.65
Gross Margin 38.8% Total Debt/EBITDA 0.71
EBITDA Margin 49.6%
EBIT Margin 34.6% Total Debt/Equity 28.1%
Net Income Margin 20.1% Total Debt/Capital 21.9%
Asset Turnover 0.47
Current Ratio 0.73 Net Fixed Asset Turnover 0.64
Quick Ratio 0.55 Accounts receivable turnover-days 47.34
Debt to Assets 15.35% Inventory Days 14.44
Tot Debt to Common Equity 28.07% Accounts Payable Turnover Day 80.80
Accounts Receivable Turnover 7.73 Cash Conversion Cycle -130.43
Inventory Turnover 25.34
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Marathon Oil CorpPrice/Volume
Valuation Analysis
12'233'013.00
Current Price (10/dd/yy) Market Data
-
2
.-
.2
/-
/2
0-
02
1-
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0.0
10'000.0
20'000.0
30'000.0
40'000.0
50'000.0
60'000.0
70'000.0
80'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-'--
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1'--
2'--
3'--
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
STATE STREET CORP STATE STREET CORPORA 13F 31'542'525 4.47 994'569 30.06.2012 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 30'381'422 4.31 406'927 30.06.2012 Investment Advisor
FRANKLIN RESOURCES I FRANKLIN MUTUAL ADVI 13F 25'075'299 3.55 378'090 30.06.2012 Investment Advisor
FIDELITY MANAGEMENT FIDELITY MANAGEMENT 13F 24'993'899 3.54 (10'244'872) 30.06.2012 Investment Advisor
BLACKROCK INSTITUTIO BLACKROCK INSTITUTIO 13F 19'740'070 2.8 1'684'133 30.06.2012 Investment Advisor
BARROW HANLEY MEWHIN BARROW HANLEY MEWHIN 13F 17'054'607 2.42 (3'376'178) 30.06.2012 Investment Advisor
BLACKROCK ADVISERS BLACKROCK ADVISORS L 13F 15'423'963 2.19 2'674'274 30.06.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 13'034'751 1.85 (554'365) 30.09.2012 Investment Advisor
PUTNAM INVESTMENT MA PUTNAM INVESTMENT MA 13F 10'897'157 1.54 4'566'568 30.06.2012 Investment Advisor
NFJ INVESTMENT GROUP NFJ INVESTMENT GROUP 13F 10'830'920 1.54 2'100'800 30.06.2012 Investment Advisor
BLACKROCK GROUP LIMI BLACKROCK GROUP LIMI 13F 10'322'698 1.46 100'977 30.06.2012 Investment Advisor
LSV ASSET MANAGEMENT LSV ASSET MANAGEMENT 13F 10'070'830 1.43 (1'056'218) 30.06.2012 Investment Advisor
BANK OF AMERICA CORP BANK OF AMERICA 13F 9'777'690 1.39 813'003 30.06.2012 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 9'214'068 1.31 667'333 30.06.2012 Investment Advisor
DEUTSCHE BANK AG DEUTSCHE BANK AKTIEN 13F 8'150'136 1.16 (2'041'916) 30.06.2012 Investment Advisor
DELAWARE MANAGEMENT DELAWARE MANAGEMENT 13F 7'846'671 1.11 1'659'619 30.06.2012 Investment Advisor
AMERIPRISE FINANCIAL AMERIPRISE FINANCIAL 13F 7'315'025 1.04 (194'530) 30.06.2012 Investment Advisor
JP MORGAN CHASE & CO JP MORGAN CHASE & CO 13F 7'134'000 1.01 2'612'740 30.06.2012 Investment Advisor
ALLIANCEBERNSTEIN LP ALLIANCEBERNSTEIN LP 13F 7'124'316 1.01 (5'569'172) 30.06.2012 Investment Advisor
INVESCO LTD INVESCO LTD 13F 7'074'119 1 98'410 30.06.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
JPMorgan KATHERINE LUCAS MINYARD neutral 3 M 30 12 month 24.10.2012
Susquehanna Financial Group DUANE GRUBERT Positive 4 M 37 12 month 23.10.2012
Global Hunter Securities JOHN MALONE accumulate 4 M 35 12 month 23.10.2012
Raymond James PAVEL MOLCHANOV market perform 3 M #N/A N/A Not Provided 22.10.2012
Oppenheimer & Co FADEL GHEIT outperform 5 M 35 18 month 19.10.2012
Goldman Sachs ARJUN N MURTI neutral/attractive 3 M 32 6 month 17.10.2012
RBC Capital Markets SCOTT HANOLD sector perform 3 M 33 12 month 16.10.2012
Credit Suisse EDWARD WESTLAKE outperform 5 M 37 Not Provided 12.10.2012
Deutsche Bank PAUL SANKEY buy 5 M 33 12 month 10.10.2012
Howard Weil Inc BLAKE FERNANDEZ market outperform 4 M 34 12 month 09.10.2012
Capital One Southcoast, Inc. ELIOT JAVANMARDI add 4 M 38 Not Provided 09.10.2012
Societe Generale JOHN HERRLIN buy 5 M 32 12 month 05.10.2012
Barclays PAUL Y CHENG equalweight 3 M 33 Not Provided 05.10.2012
Macquarie JASON D GAMMEL neutral 3 M 34 12 month 03.10.2012
Argus Research Corp PHILIP H WEISS hold 3 M #N/A N/A Not Provided 10.09.2012
Morgan Stanley J EVAN CALIO Equalwt/Attractive 3 M 31 12 month 02.08.2012
S&P Capital IQ MICHAEL KAY buy 5 M 34 Not Provided 01.08.2012
Ameriprise Advisor Services, Inc LEZE THAQI buy 5 M #N/A N/A Not Provided 27.02.2012
EVA Dimensions TEAM COVERAGE buy 5 M #N/A N/A Not Provided 18.11.2011
Simmons & Company International JEFFREY A DIETERT overweight 5 M #N/A N/A Not Provided 04.10.2011
BOE Securities PRIYANKA VYAS buy 5 N 26 Not Provided 15.10.2010
Holdings By:
Marathon Oil Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Tullow Oil plc explores for and produces oil and natural gas. The Company
operates in the United Kingdom's southern North Sea, Africa, and South Asia.
Latest Fiscal Year: 12/2011
LTM as of: 01/yy
52-Week High (20.02.2012) 1'611.00
52-Week Low (25.11.2011) 1'225.00
Daily Volume
1407
52-Week High % Change -12.60% Dividend Yield 0.53
52-Week Low % Change 14.86% Beta 1.27
% 52 Week Price Range High/Low 48.45% Equity Float 898.01
Shares Out 01.10.2012 907.3 Short Int -
12'766.39 1 Yr Total Return 0.40%
Total Debt 3'075.90 YTD Return 1.18%
Preferred Stock 0.0 Adjusted BETA 1.271
Minority Interest 75.6 Analyst Recs 35
Cash and Equivalents 307.10 Consensus Rating 3.257
Enterprise Value 21'195.71
Average Volume 5 Day 1'899'686
TLW LN EQUITY YTD Change - Average Volume 30 Day 2'057'560
TLW LN EQUITY YTD % CHANGE - Average Volume 3 Month 2'062'413
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 01/yy 01/yy 12/12 Y 12/13 Y - -
1'278.9 1'280.9 911.8 1'089.8 2'304.2 - - 2'421.4 2'788.8 - -
8.10x 7.60x 19.23x 17.80x 9.77x - - 8.87x 7.93x - -
791.2 478.0 486.2 628.7 1'663.8 - - 1'779.7 1'971.3 - -
13.10x 20.36x 36.06x 30.86x 13.54x - - 11.91x 10.75x - -
101.8 413.4 23.6 71.0 649.0 - - 731.8 803.6 - -
91.80x 21.37x 688.29x 243.62x 30.01x - - 28.06x 26.92x - -
EBITDA 1'663.80 Long-Term Rating Date -
EBIT 1'130.00 Long-Term Rating -
Operating Margin 49.04% Long-Term Outlook -
Pretax Margin 46.56% Short-Term Rating Date -
Return on Assets 9.15% Short-Term Rating -
Return on Common Equity 19.06%
Return on Capital 15.20% EBITDA/Interest Exp. 13.54
Asset Turnover 0.25% (EBITDA-Capex)/Interest Exp. 8.37
Net Debt/EBITDA 0.49
Gross Margin 59.6% Total Debt/EBITDA 0.82
EBITDA Margin 52.8%
EBIT Margin 28.0% Total Debt/Equity 65.6%
Net Income Margin 28.2% Total Debt/Capital 39.2%
Asset Turnover 0.25
Current Ratio 0.76 Net Fixed Asset Turnover 0.68
Quick Ratio 0.20 Accounts receivable turnover-days -
Debt to Assets 28.92% Inventory Days 64.02
Tot Debt to Common Equity 65.58% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover 5.72
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Tullow Oil PLCPrice/Volume
Valuation Analysis
936'730.00
Current Price (10/dd/yy) Market Data
-/--1--3--5--
.---
./--
.1--
.3--
.5--
l&.. k&.. a&.. g&./ c&./ j&./ W&./ j&./ g&./ g&./ W&./ p&./ l&./'- G
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0'- G
1'- G
2'- G
3'- G
4'- G
5'- G
0.0
500.0
1'000.0
1'500.0
2'000.0
2'500.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-'--
.-'--
/-'--
0-'--
1-'--
2-'--
3-'--
4-'--
5-'--
-/'-.'/--6 -/'-4'/--6 -/'-.'/-.- -/'-4'/-.- -/'-.'/-.. -/'-4'/-.. -/'-.'/-./ -/'-4'/-./
FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK INC n/a RNS-MAJ 98'313'658 10.84 162'524 03.09.2012 Investment Advisor
M&G INVESTMENT MANAG Multiple Portfolios REG 50'031'982 5.51 (8'863'797) 03.09.2012 Investment Advisor
IFG INTL TRUST CO LT n/a Co File 38'960'366 4.29 - 13.03.2012 Corporation
LEGAL & GENERAL INV Multiple Portfolios REG 34'344'968 3.79 250'879 03.09.2012 Investment Advisor
STANDARD LIFE INVEST Multiple Portfolios REG 24'065'814 2.65 (1'772'677) 03.09.2012 Investment Advisor
OPPENHEIMERFUNDS INC Multiple Portfolios REG 23'204'717 2.56 3'364'190 03.09.2012 Investment Advisor
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 23'045'388 2.54 3'660'952 30.08.2012 Investment Advisor
BAILLIE GIFFORD AND Multiple Portfolios REG 22'563'263 2.49 2'580'593 03.09.2012 Investment Advisor
GENESIS INVESTMENT M Multiple Portfolios REG 22'560'984 2.49 23'619 03.09.2012 Unclassified
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 20'894'423 2.3 (12'523) 22.10.2012 Investment Advisor
NORGES BANK INVESTME Multiple Portfolios REG 20'641'618 2.27 137'445 03.09.2012 Government
UBS PRIVATE BANKING Multiple Portfolios REG 19'524'560 2.15 (242'961) 03.09.2012 Bank
CARMIGNAC GESTION S Multiple Portfolios REG 17'074'758 1.88 (32'928) 03.09.2012 Unclassified
CARMIGNAC GESTION Multiple Portfolios MF-AGG 16'806'079 1.85 (234'531) 29.06.2012 Investment Advisor
T ROWE PRICE ASSOCIA Multiple Portfolios REG 16'084'404 1.77 699'668 03.09.2012 Investment Advisor
FIDELITY INVESTMENTS Multiple Portfolios REG 15'066'196 1.66 (4'241'309) 03.09.2012 Investment Advisor
PEOPLES REPUBLIC OF Multiple Portfolios REG 13'202'711 1.46 1'847'452 03.09.2012 Government
T ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 12'650'276 1.39 1'199'846 30.09.2012 Investment Advisor
TARONDO LTD Multiple Portfolios REG 11'196'342 1.23 - 03.09.2012 Unclassified
FERL LTD Multiple Portfolios REG 11'196'341 1.23 - 03.09.2012 Unclassified
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Jefferies BRENDAN MICHAEL WARN buy 5 M 1'800 12 month 24.10.2012
Global Hunter Securities JOHN MALONE neutral 3 M 1'500 12 month 23.10.2012
AlphaValue ALEXANDRE ANDLAUER sell 1 M 1'213 6 month 18.10.2012
Goldman Sachs CHRISTOPHOR JOST neutral/cautious 3 M 1'776 12 month 17.10.2012
FirstEnergy Capital Corp GERRY F DONNELLY market perform 3 M 1'385 12 month 17.10.2012
Deutsche Bank PHIL CORBETT hold 3 M 1'200 12 month 16.10.2012
RBC Capital Markets AL STANTON outperform 5 M 1'400 12 month 16.10.2012
Morgan Stanley JAMIE MADDOCK Overwt/Attractive 5 M 1'780 12 month 15.10.2012
Credit Suisse THOMAS YOICHI ADOLFF outperform 5 M 1'650 Not Provided 15.10.2012
Sanford C. Bernstein & Co OSWALD CLINT outperform 5 M 1'920 12 month 15.10.2012
Goodbody Stockbrokers Ltd GERRY F HENNIGAN buy 5 M 1'590 12 month 15.10.2012
Oriel Securities Ltd RICHARD GRIFFITH add 4 M #N/A N/A Not Provided 15.10.2012
Investec STUART JOYNER hold 3 M 1'399 12 month 27.09.2012
N+1 Singer Ltd SIMON HAWKINS Fairly Valued 3 M 1'370 12 month 24.09.2012
Exane BNP Paribas CHARLES RIOU outperform 5 M 1'500 Not Provided 18.09.2012
EVA Dimensions TEAM COVERAGE underweight 1 U #N/A N/A Not Provided 05.09.2012
Liberum Capital Ltd ANDREW WHITTOCK hold 3 M 1'411 Not Provided 04.09.2012
Barclays ALESSANDRO POZZI overweight 5 M 1'920 Not Provided 28.08.2012
Societe Generale DAVID MIRZAI hold 3 M 1'500 12 month 23.08.2012
Canaccord Genuity Corp THOMAS MARTIN hold 3 M 1'350 12 month 22.08.2012
Renaissance Capital DRAGAN TRAJKOV hold 3 M 1'300 12 month 07.08.2012
Macquarie MARK WILSON underperform 1 D 1'075 12 month 01.08.2012
Nomura TAO LY reduce 2 M 1'635 12 month 31.07.2012
WH Ireland Ltd ANGUS B MCPHAIL buy 5 M 1'826 12 month 26.07.2012
Tudor Pickering & Co ANISH KAPADIA trim 1 M 1'000 Not Provided 26.07.2012
Numis Securities Ltd SANJEEV BAHL hold 3 M 1'482 Not Provided 25.07.2012
SBG Securities LIONEL THEROND sell 1 M 1'600 12 month 05.07.2012
Westhouse Securities PETER BASSETT not rated #N/A N/A M #N/A N/A Not Provided 04.07.2012
JPMorgan JAMES THOMPSON neutral 3 M 1'700 Not Provided 15.06.2012
Day by Day VALERIE GASTALDY hold 3 M #N/A N/A Not Provided 21.05.2012
Merrion Stockbrokers MUNA MULEYA buy 5 M 1'910 Not Provided 22.03.2012
HSBC PETER HITCHENS underweight 1 D 1'381 Not Provided 16.03.2012
Mirabaud Securities TEAM COVERAGE reduce 2 N 1'300 12 month 08.03.2012
CAL Brokers Limited NANA AGYEI OPOKU-AGYEMANG buy 5 M #N/A N/A Not Provided 30.08.2011
Davy JOB LANGBROEK outperform 5 M #N/A N/A Not Provided 14.04.2011
Prosdocimi TEAM COVERAGE hold 3 N 1'120 Not Provided 02.12.2009
Holdings By:
Tullow Oil PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Seadrill Ltd. provides offshore deepwater drilling. The Company operates a fleet
for operations in shallow to ultra-deepwater areas in harsh and benign
environments. Seadrill's fleet includes semi-submersible rigs, deepwater
drillships, jack-ups, semi-tender rigs, and tender rigs.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (21.08.2012) 246.90
52-Week Low (01.11.2011) 176.96
Daily Volume
229.5
52-Week High % Change -7.01% Dividend Yield 8.04
52-Week Low % Change 29.69% Beta 0.94
% 52 Week Price Range High/Low 72.40% Equity Float 318.00
Shares Out 23.10.2012 469.3 Short Int -
107'693.09 1 Yr Total Return 33.66%
Total Debt 10'428.00 YTD Return 22.81%
Preferred Stock 0.0 Adjusted BETA 0.937
Minority Interest 325.0 Analyst Recs 37
Cash and Equivalents 507.00 Consensus Rating 3.514
Enterprise Value 29'398.61
Average Volume 5 Day 1'080'389
SDRL NO EQUITY YTD Change - Average Volume 30 Day 983'156
SDRL NO EQUITY YTD % CHANGE - Average Volume 3 Month 948'871
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
1'465.1 2'031.3 3'210.9 4'015.0 4'191.0 4'368.0 4'159.0 4'468.9 5'236.5 1'109.7 1'170.0
9.01x 5.24x 5.30x 5.88x 6.18x 21.72x 24.98x 6.57x 5.98x 26.09x 25.02x
671.7 801.8 1'697.1 2'079.0 2'315.0 2'282.0 2'397.0 2'549.6 3'026.4 620.6 684.5
19.66x 13.28x 10.02x 11.35x 11.19x 11.37x 11.34x 11.53x 9.71x 10.93x 10.43x
502.0 (164.4) 1'261.2 1'117.0 1'401.0 2'099.0 868.0 1'542.4 1'679.4 335.5 386.1
19.15x - 8.06x 12.24x 10.97x 7.34x 19.09x 12.86x 11.32x 12.78x 12.19x
EBITDA 2'315.00 Long-Term Rating Date -
EBIT 1'752.00 Long-Term Rating -
Operating Margin 41.80% Long-Term Outlook -
Pretax Margin 39.87% Short-Term Rating Date -
Return on Assets 4.68% Short-Term Rating -
Return on Common Equity 13.36%
Return on Capital 7.12% EBITDA/Interest Exp. 7.85
Asset Turnover 0.22% (EBITDA-Capex)/Interest Exp. -0.77
Net Debt/EBITDA 4.25
Gross Margin - Total Debt/EBITDA 4.46
EBITDA Margin 57.6%
EBIT Margin 44.1% Total Debt/Equity 174.5%
Net Income Margin 33.4% Total Debt/Capital 62.3%
Asset Turnover 0.22
Current Ratio 0.71 Net Fixed Asset Turnover 0.30
Quick Ratio 0.44 Accounts receivable turnover-days 71.50
Debt to Assets 56.97% Inventory Days -
Tot Debt to Common Equity 174.47% Accounts Payable Turnover Day -
Accounts Receivable Turnover 5.12 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Seadrill LtdPrice/Volume
Valuation Analysis
595'657.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
-
2-
.--
.2-
/--
/2-
0--
l&.. k&.. a&.. g&./ c&./ j&./ W&./ j&./ g&./ g&./ W&./ p&./ l&./'- G
.'- G
/'- G
0'- G
1'- G
2'- G
3'- G
0.0
500.0
1'000.0
1'500.0
2'000.0
2'500.0
3'000.0
3'500.0
4'000.0
4'500.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-'--
/'--
1'--
3'--
5'--
.-'--
./'--
-/'-.'/--6 -/'-4'/--6 -/'-.'/-.- -/'-4'/-.- -/'-.'/-.. -/'-4'/-.. -/'-.'/-./ -/'-4'/-./
FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
HEMEN HOLDING LTD #N/A N/A 424B 115'097'583 24.53 - 18.10.2012 Holding Company
STATE STREET BANK AN n/a EXCH 27'683'169 5.9 - 03.10.2011 Bank
GOVERNMENT PENSION F n/a Co File 23'736'823 5.06 - 24.04.2012 Government
CITIBANK NA n/a EXCH 16'424'550 3.5 - 03.10.2011 Bank
VANGUARD GROUP INC Multiple Portfolios MF-AGG 13'216'807 2.82 6'887'873 30.06.2012 Investment Advisor
BARROW HANLEY MEWHIN BARROW HANLEY MEWHIN 13F 12'619'539 2.69 9'124'489 30.06.2012 Investment Advisor
MORGAN STANLEY SMITH MORGAN STANLEY SMITH 13F 10'814'936 2.3 1'080'027 30.06.2012 Investment Advisor
CLEARSTREAM BANKING n/a EXCH 7'590'854 1.62 - 03.10.2011 Bank
FARAHEAD INVESTMENTS n/a EXCH 6'550'000 1.4 - 03.10.2011 n/a
JP MORGAN CHASE BANK n/a EXCH 6'063'475 1.29 - 03.10.2011 Investment Advisor
ALLIANCEBERNSTEIN LP ALLIANCEBERNSTEIN LP 13F 5'981'648 1.27 (522'722) 30.06.2012 Investment Advisor
CAPITAL GUARDIAN TRU CAPITAL GUARDIAN TRU 13F 5'958'380 1.27 (256'857) 30.06.2012 Investment Advisor
DNB NORBANK ASA n/a EXCH 5'431'494 1.16 - 03.10.2011 Bank
CAPITAL RESEARCH GLO CAPITAL RESEARCH GLO 13F 4'649'343 0.99 - 30.06.2012 Investment Advisor
BANK OF NEW YORK MEL n/a EXCH 4'631'602 0.99 - 03.10.2011 Investment Advisor
DNB NOR ASSET MANAGE Multiple Portfolios MF-AGG 3'578'038 0.76 8'725 28.09.2012 Investment Advisor
GEVERAN TRADING CO L n/a EXCH 3'500'000 0.75 - 03.10.2011 Corporation
DNB LIVSFORSIKRING A n/a EXCH 3'386'997 0.72 - 03.10.2011 Insurance Company
EUROCLEAR BANK SA n/a EXCH 3'264'503 0.7 - 03.10.2011 Bank
BANK OF AMERICA CORP BANK OF AMERICA 13F 3'144'611 0.67 (93'343) 30.06.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
ABN Amro Bank N.V. THIJS BERKELDER buy 5 M 243 Not Provided 23.10.2012
Sanford C. Bernstein & Co SCOTT GRUBER market perform 3 M 212 12 month 19.10.2012
SEB Enskilda LUKAS DAUL hold 3 M 245 Not Provided 19.10.2012
ISI Group JUDSON E BAILEY neutral 3 M #N/A N/A Not Provided 19.10.2012
Spin-Off Research TEAM COVERAGE neutral 3 M 215 Not Provided 19.10.2012
DNB Markets MARTIN HUSEBY KARLSEN buy 5 M 250 Not Provided 19.10.2012
Exane BNP Paribas ALEXANDRE MARIE neutral 3 M 230 Not Provided 19.10.2012
Guggenheim Securities LLC DARREN GACICIA buy 5 M 275 12 month 18.10.2012
Goldman Sachs HENRY TARR buy/attractive 5 U 308 12 month 17.10.2012
Dahlman Rose & Co DOUG GARBER hold 3 M #N/A N/A Not Provided 16.10.2012
Clarkson Capital Markets LLC TODD P SCHOLL outperform 5 M 261 12 month 16.10.2012
BMO Capital Markets ALAN D LAWS market perform 3 M 263 Not Provided 15.10.2012
Credit Suisse GREGORY LEWIS restricted #N/A N/A M #N/A N/A Not Provided 15.10.2012
Wells Fargo Securities, LLC MATTHEW D CONLAN market perform 3 M #N/A N/A Not Provided 15.10.2012
Howard Weil Inc DAVID T WILSON market perform 3 M 268 12 month 11.10.2012
Swedbank First Securities BJORN THORESEN reduce 2 M 215 Not Provided 10.10.2012
Societe Generale GUILLAUME DELABY hold 3 M 236 12 month 05.10.2012
Pareto Securities FRANK HARESTAD buy 5 M 290 6 month 29.09.2012
Carnegie FREDERIK H LUNDE hold 3 M #N/A N/A Not Provided 26.09.2012
Handelsbanken KNUT ERIK LOVSTAD reduce 2 D 240 12 month 12.09.2012
Nordea Equity Research DAVID BHATTI hold 3 M 250 12 month 11.09.2012
Nomura CHRISTYAN MALEK buy 5 M 310 12 month 11.09.2012
HSBC DAVID PHILLIPS neutral 3 D 262 Not Provided 10.09.2012
Fearnley Fonds TRULS OLSEN accumulate 4 M 258 Not Provided 03.09.2012
ABG Sundal Collier OYVIND HAGEN hold 3 M 233 6 month 28.08.2012
RBC Capital Markets BASTIEN DUBLANC sector perform 3 M 244 12 month 28.08.2012
Johnson Rice & Co DAVID C SMITH equalweight 3 M #N/A N/A Not Provided 28.08.2012
Natixis JULIEN LAURENT neutral 3 U 232 Not Provided 28.08.2012
Arctic Securities ASA KJETIL GARSTAD hold 3 M 245 Not Provided 28.08.2012
Barclays JAMES C WEST overweight 5 M 273 Not Provided 28.08.2012
Morgan Stanley OLE SLORER Overwt/Attractive 5 M 297 12 month 27.08.2012
SpareBank 1 Markets AS JANNE KVERNLAND neutral 3 N 240 12 month 24.08.2012
Danske Markets ENDRE STORLOKKEN hold 3 D 255 12 month 26.07.2012
EVA Dimensions TEAM COVERAGE sell 1 D #N/A N/A Not Provided 12.03.2012
Fondsfinans AS IVAR ANDREAS LEMMECHEN GJUL Under Review #N/A N/A M 170 Not Provided 02.03.2012
RS Platou Markets ANDERS BERGLAND buy 5 M 283 6 month 09.02.2012
Deutsche Bank MICHAEL W URBAN buy 5 M 205 12 month 15.07.2011
Holdings By:
Seadrill Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Marathon Petroleum Corporation refines, transports, and markets petroleum
products. The Company sells its products to resellers and consumers in the
mid-west, gulf coast, and southeast United States.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (08.10.2012) 60.04
52-Week Low (09.01.2012) 30.24
Daily Volume
53.25
52-Week High % Change -11.31% Dividend Yield 1.78
52-Week Low % Change 76.09% Beta -
% 52 Week Price Range High/Low 77.21% Equity Float 337.41
Shares Out 31.07.2012 338.3 Short Int 4.05
18'014.32 1 Yr Total Return 52.53%
Total Debt 3'307.00 YTD Return 63.14%
Preferred Stock 0.0 Adjusted BETA -
Minority Interest 0.0 Analyst Recs 19
Cash and Equivalents 3'079.00 Consensus Rating 4.474
Enterprise Value 19'454.32
Average Volume 5 Day 2'438'410
MPC US EQUITY YTD Change - Average Volume 30 Day 3'277'477
MPC US EQUITY YTD % CHANGE - Average Volume 3 Month 3'084'226
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
49'841.0 59'874.0 40'606.0 57'279.0 73'524.0 66'766.0 75'100.0 79'442.4 80'746.5 19'592.5 16'624.0
- - - - 0.16x 0.25x 0.74x 0.22x 0.22x 0.91x 1.06x
3'627.0 2'142.0 1'215.0 1'834.0 4'515.0 3'702.0 4'705.0 5'725.2 5'300.5 1'887.8 1'070.5
- - - - 2.68x 4.43x 3.72x 3.40x 3.67x 3.03x 2.99x
2'262.0 1'215.0 449.0 623.0 2'389.0 1'838.0 2'468.0 3'000.7 2'663.7 1'025.0 452.9
- - - - 4.97x 0.00x 6.39x 5.83x 6.49x 5.97x 6.55x
EBITDA 4'515.00 Long-Term Rating Date 27.01.2011
EBIT 3'624.00 Long-Term Rating BBB
Operating Margin 4.93% Long-Term Outlook STABLE
Pretax Margin 5.06% Short-Term Rating Date 27.01.2011
Return on Assets 10.15% Short-Term Rating A-2
Return on Common Equity 25.57%
Return on Capital 19.43% EBITDA/Interest Exp. 74.02
Asset Turnover 3.09% (EBITDA-Capex)/Interest Exp. 54.59
Net Debt/EBITDA 0.31
Gross Margin 9.0% Total Debt/EBITDA 0.71
EBITDA Margin 6.3%
EBIT Margin 5.0% Total Debt/Equity 34.8%
Net Income Margin 3.2% Total Debt/Capital 25.8%
Asset Turnover 3.09
Current Ratio 1.25 Net Fixed Asset Turnover 6.17
Quick Ratio 0.89 Accounts receivable turnover-days 23.76
Debt to Assets 12.85% Inventory Days 20.21
Tot Debt to Common Equity 34.79% Accounts Payable Turnover Day 35.13
Accounts Receivable Turnover 15.41 Cash Conversion Cycle 2.14
Inventory Turnover 18.11
Fiscal Year Ended
Marathon Petroleum CorpPrice/Volume
Valuation Analysis
2'577'654.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
-
.-
/-
0-
1-
2-
3-
4-
l&.. k&.. a&.. g&./ c&./ j&./ W&./ j&./ g&./ g&./ W&./ p&./ l&./'- G
/'- G
1'- G
3'- G
5'- G
.-'- G
./'- G
.1'- G
0.0
10'000.0
20'000.0
30'000.0
40'000.0
50'000.0
60'000.0
70'000.0
80'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-'--
.'--
/'--
0'--
1'--
2'--
3'--
4'--
-/'-.'/--6 -/'-4'/--6 -/'-.'/-.- -/'-4'/-.- -/'-.'/-.. -/'-4'/-.. -/'-.'/-./ -/'-4'/-./
FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
FIDELITY MANAGEMENT FIDELITY MANAGEMENT 13F 15'992'941 4.73 (4'228'089) 30.06.2012 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 15'387'232 4.55 96'430 30.06.2012 Investment Advisor
STATE STREET CORP STATE STREET CORPORA 13F 14'535'115 4.3 (117'315) 30.06.2012 Investment Advisor
BLACKROCK ADVISERS BLACKROCK ADVISORS L 13F 10'950'738 3.24 3'354'650 30.06.2012 Investment Advisor
BLACKROCK INSTITUTIO BLACKROCK INSTITUTIO 13F 10'222'188 3.02 (138'406) 30.06.2012 Investment Advisor
ALLIANCEBERNSTEIN LP ALLIANCEBERNSTEIN LP 13F 9'129'118 2.7 (703'701) 30.06.2012 Investment Advisor
DEUTSCHE BANK AG DEUTSCHE BANK AKTIEN 13F 8'592'298 2.54 2'656'133 30.06.2012 Investment Advisor
FRANKLIN RESOURCES I FRANKLIN MUTUAL ADVI 13F 7'363'234 2.18 985 30.06.2012 Investment Advisor
GOLDMAN SACHS GROUP GOLDMAN SACHS GROUP 13F 7'100'317 2.1 4'315'668 30.06.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 5'504'423 1.63 927'827 30.09.2012 Investment Advisor
LSV ASSET MANAGEMENT LSV ASSET MANAGEMENT 13F 4'920'416 1.45 (360'650) 30.06.2012 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 4'595'817 1.36 278'424 30.06.2012 Investment Advisor
BLACKROCK GROUP LIMI BLACKROCK GROUP LIMI 13F 4'546'298 1.34 227'218 30.06.2012 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 4'346'248 1.28 369'150 30.06.2012 Investment Advisor
LAZARD ASSET MANAGEM LAZARD ASSET MANAGEM 13F 4'153'222 1.23 346'035 30.06.2012 Investment Advisor
BLACKROCK FUND ADVIS BLACKROCK FUND ADVIS 13F 4'068'598 1.2 768'621 30.06.2012 Investment Advisor
BARROW HANLEY MEWHIN BARROW HANLEY MEWHIN 13F 3'963'450 1.17 (6'000) 30.06.2012 Investment Advisor
D E SHAW & COMPANY I D E SHAW & CO 13F 3'614'312 1.07 582'773 30.06.2012 Hedge Fund Manager
DIMENSIONAL FUND ADV DIMENSIONAL FUND ADV 13F 3'303'794 0.98 (24'909) 30.06.2012 Investment Advisor
ACADIAN ASSET MANAGE ACADIAN ASSET MANAGE 13F 3'062'792 0.91 503'675 30.09.2012 Hedge Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Raymond James PAVEL MOLCHANOV outperform 5 M 62 12 month 19.10.2012
Oppenheimer & Co FADEL GHEIT outperform 5 M 70 18 month 19.10.2012
Spin-Off Research TEAM COVERAGE neutral 3 M 55 Not Provided 19.10.2012
Wells Fargo Securities, LLC ROGER D READ outperform 5 M #N/A N/A Not Provided 18.10.2012
Dahlman Rose & Co SAM MARGOLIN buy 5 M 65 Not Provided 18.10.2012
Goldman Sachs ARJUN N MURTI buy/attractive 5 M 66 6 month 17.10.2012
Macquarie CHI CHOW outperform 5 M 77 12 month 16.10.2012
Morgan Stanley J EVAN CALIO Overwt/Attractive 5 M 80 12 month 15.10.2012
Credit Suisse EDWARD WESTLAKE neutral 3 M 70 Not Provided 12.10.2012
ISI Group DOUGLAS T TERRESON hold 3 M 55 12 month 12.10.2012
Deutsche Bank PAUL SANKEY buy 5 M 66 12 month 09.10.2012
Howard Weil Inc BLAKE FERNANDEZ market perform 3 M 58 12 month 09.10.2012
Barclays PAUL Y CHENG overweight 5 M 88 Not Provided 09.10.2012
Simmons & Company International JEFFREY A DIETERT overweight 5 U #N/A N/A Not Provided 13.09.2012
S&P Capital IQ TANJILA SHAFI buy 5 M 55 Not Provided 31.07.2012
Tudor Pickering & Co ROBERT KESSLER buy 5 M 89 Not Provided 23.07.2012
RBC Capital Markets JACQUES ROUSSEAU outperform 5 M 47 12 month 15.02.2012
EVA Dimensions TEAM COVERAGE buy 5 N #N/A N/A Not Provided 13.02.2012
Holdings By:
Marathon Petroleum Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Hess Corporation is a global integrated energy company that explores, develops,
produces, purchases, transports and sells crude oil and natural gas. The
Company also manufactures refined petroleum products and purchases, markets and
trades refined petroleum products, natural gas and electricity.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (27.02.2012) 67.86
52-Week Low (25.06.2012) 39.67
Daily Volume
52.37
52-Week High % Change -22.83% Dividend Yield 0.76
52-Week Low % Change 32.01% Beta 1.46
% 52 Week Price Range High/Low 45.05% Equity Float 323.74
Shares Out 30.06.2012 341.5 Short Int 6.88
17'885.01 1 Yr Total Return -13.50%
Total Debt 6'057.00 YTD Return -7.27%
Preferred Stock 0.0 Adjusted BETA 1.461
Minority Interest 76.0 Analyst Recs 20
Cash and Equivalents 351.00 Consensus Rating 3.850
Enterprise Value 25'393.01
Average Volume 5 Day 3'202'576
HES US EQUITY YTD Change - Average Volume 30 Day 3'096'043
HES US EQUITY YTD % CHANGE - Average Volume 3 Month 3'471'951
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
31'647.0 41'134.0 29'614.0 33'862.0 38'466.0 36'939.0 37'384.0 38'768.6 40'742.0 9'249.4 9'991.2
1.13x 0.50x 0.78x 0.88x 0.65x 3.09x 2.59x 0.67x 0.64x 2.85x 2.63x
5'259.0 7'064.0 4'181.0 5'770.0 6'203.0 6'354.0 6'270.0 7'397.7 8'059.1 1'727.3 1'954.0
6.79x 2.91x 5.51x 5.19x 4.05x 4.55x 3.56x 3.43x 3.15x 3.20x 3.04x
1'832.0 2'360.0 740.0 2'125.0 1'703.0 2'748.0 1'261.0 1'970.5 2'452.5 381.4 489.6
16.67x 7.33x 26.54x 14.89x 7.80x 12.20x 7.90x 8.94x 8.06x 8.91x 8.34x
EBITDA 6'203.00 Long-Term Rating Date 22.07.2010
EBIT 3'797.00 Long-Term Rating BBB
Operating Margin 9.87% Long-Term Outlook STABLE
Pretax Margin 6.40% Short-Term Rating Date 31.08.2005
Return on Assets 3.25% Short-Term Rating NR
Return on Common Equity 6.52%
Return on Capital 5.65% EBITDA/Interest Exp. 15.66
Asset Turnover 0.96% (EBITDA-Capex)/Interest Exp. -2.03
Net Debt/EBITDA 1.19
Gross Margin 18.0% Total Debt/EBITDA 1.25
EBITDA Margin 16.8%
EBIT Margin 9.5% Total Debt/Equity 32.7%
Net Income Margin 4.4% Total Debt/Capital 24.6%
Asset Turnover 0.96
Current Ratio 1.03 Net Fixed Asset Turnover 1.52
Quick Ratio 0.66 Accounts receivable turnover-days 42.30
Debt to Assets 15.48% Inventory Days 16.27
Tot Debt to Common Equity 32.71% Accounts Payable Turnover Day 38.56
Accounts Receivable Turnover 8.65 Cash Conversion Cycle 16.53
Inventory Turnover 22.49
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Hess CorpPrice/Volume
Valuation Analysis
5'880'634.00
Current Price (10/dd/yy) Market Data
-
.-
/-
0-
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/2'- G
0.0
5'000.0
10'000.0
15'000.0
20'000.0
25'000.0
30'000.0
35'000.0
40'000.0
45'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-'--
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5'--
6'--
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
MANNING & NAPIER ADV MANNING & NAPIER ADV 13F 14'620'704 4.28 7'018'388 30.06.2012 Investment Advisor
STATE STREET CORP STATE STREET CORPORA 13F 14'188'161 4.15 433'789 30.06.2012 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 12'789'228 3.74 313'509 30.06.2012 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 11'916'855 3.49 7'034'390 30.06.2012 Investment Advisor
JOMARCO LTD PART n/a Form 4 8'817'802 2.58 472'716 07.01.2009 Other
BLACKROCK INSTITUTIO BLACKROCK INSTITUTIO 13F 8'235'948 2.41 325'338 30.06.2012 Investment Advisor
FIDELITY MANAGEMENT FIDELITY MANAGEMENT 13F 7'928'629 2.32 (2'642'745) 30.06.2012 Investment Advisor
PUTNAM INVESTMENT MA PUTNAM INVESTMENT MA 13F 7'235'638 2.12 3'418'371 30.06.2012 Investment Advisor
HESS FOUNDATION INC n/a PROXY 6'436'881 1.88 - 02.03.2011 Other
DEUTSCHE BANK AG DEUTSCHE BANK AKTIEN 13F 5'193'569 1.52 1'157'339 30.06.2012 Investment Advisor
UBS GLOBAL ASSET MAN UBS GLOBAL ASSET MAN 13F 4'895'880 1.43 (1'695'572) 30.06.2012 Investment Advisor
ALLEGHANY CORP ALLEGHANY CORPORATIO 13F 4'250'000 1.24 2'250'000 30.06.2012 Corporation
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 4'153'556 1.22 670'795 30.09.2012 Investment Advisor
BLACKROCK GROUP LIMI BLACKROCK GROUP LIMI 13F 3'938'803 1.15 184'012 30.06.2012 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 3'899'742 1.14 381'190 30.06.2012 Investment Advisor
METROPOLITAN WEST CA METROPOLITAN WEST CA 13F 3'802'859 1.11 30'651 30.06.2012 Hedge Fund Manager
CORNERSTONE INVESTME CORNERSTONE INVESTME 13F 3'718'421 1.09 391'736 30.09.2012 Investment Advisor
ARTISAN PARTNERS HOL ARTISAN PARTNERS LP 13F 3'660'000 1.07 3'660'000 30.06.2012 Investment Advisor
JANUS CAPITAL MANAGE JANUS CAPITAL MANAGE 13F 3'484'466 1.02 (71'899) 30.06.2012 Investment Advisor
PERKINS INVESTMENT M PERKINS INVESTMENT M 13F 3'015'305 0.88 295'102 30.06.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
JPMorgan KATHERINE LUCAS MINYARD neutral 3 M 70 12 month 23.10.2012
Raymond James PAVEL MOLCHANOV market perform 3 M #N/A N/A Not Provided 23.10.2012
Global Hunter Securities JOHN MALONE neutral 3 M 53 12 month 23.10.2012
Oppenheimer & Co FADEL GHEIT outperform 5 M 65 18 month 19.10.2012
Tudor Pickering & Co ROBERT KESSLER buy 5 M 69 Not Provided 16.10.2012
Edward Jones BRIAN YOUNGBERG buy 5 M #N/A N/A Not Provided 15.10.2012
Societe Generale JOHN HERRLIN buy 5 M 65 12 month 12.10.2012
Credit Suisse EDWARD WESTLAKE underperform 1 M 60 Not Provided 12.10.2012
ISI Group DOUGLAS T TERRESON hold 3 M #N/A N/A Not Provided 12.10.2012
Deutsche Bank PAUL SANKEY hold 3 M 52 12 month 10.10.2012
Howard Weil Inc BLAKE FERNANDEZ market outperform 4 M 57 12 month 09.10.2012
Goldman Sachs ARJUN N MURTI neutral/attractive 3 M 60 6 month 07.10.2012
Barclays PAUL Y CHENG equalweight 3 M 60 Not Provided 05.10.2012
Argus Research Corp PHILIP H WEISS hold 3 M #N/A N/A Not Provided 05.09.2012
EVA Dimensions TEAM COVERAGE hold 3 U #N/A N/A Not Provided 11.08.2012
Morgan Stanley J EVAN CALIO Overwt/Attractive 5 M 58 12 month 26.07.2012
Credit Agricole Securities (USA) JEB S ARMSTRONG buy 5 M 87 Not Provided 26.07.2012
Simmons & Company International JEFFREY A DIETERT overweight 5 M #N/A N/A Not Provided 04.10.2011
Holdings By:
Hess Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
China Petroleum and Chemical Corporation (Sinopec) refines, produces and trades
petroleum and petrochemical products such as gasoline, diesel, jet fuel,
kerosene, ethylene, synthetic fibers, synthetic rubber, synthetic resins, and
chemical fertilizers. Also, The company explores for and produces crude oil and
natural gas in China.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (02.02.2012) 9.67
52-Week Low (11.07.2012) 6.38
Daily Volume
8.18
52-Week High % Change -15.41% Dividend Yield 4.55
52-Week Low % Change 28.21% Beta 0.83
% 52 Week Price Range High/Low 60.18% Equity Float 15'550.58
Shares Out 30.06.2012 16'780.5 Short Int -
684'558.75 1 Yr Total Return 16.78%
Total Debt 240'555.00 YTD Return 5.34%
Preferred Stock 0.0 Adjusted BETA 0.828
Minority Interest 35'016.0 Analyst Recs 36
Cash and Equivalents 25'197.00 Consensus Rating 4.000
Enterprise Value 882'106.48
Average Volume 5 Day 97'328'130
386 HK EQUITY YTD Change - Average Volume 30 Day 82'885'970
386 HK EQUITY YTD % CHANGE - Average Volume 3 Month 71'923'660
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
1'170'539.0 1'387'077.0 1'212'168.0 1'876'758.0 2'463'767.0 ######### ######### ######### ######### 685'674.0 768'384.0
1.73x 0.59x 1.09x 0.48x 0.35x 1.56x 1.35x 0.33x 0.33x - -
127'499.0 29'228.0 151'545.0 178'098.0 170'962.0 0.0 0.0 163'856.6 190'857.3 - -
15.87x 27.82x 8.73x 5.03x 5.05x 0.00x 0.00x 5.38x 4.62x - -
56'515.0 28'445.0 62'677.0 71'782.0 73'225.0 75'523.0 55'155.0 57'874.0 73'722.9 13'822.3 23'647.0
16.90x 12.59x 8.42x 7.62x 7.84x 7.47x 8.86x 9.76x 7.73x - -
EBITDA 170'962.00 Long-Term Rating Date 16.12.2010
EBIT 107'146.00 Long-Term Rating A+
Operating Margin 4.35% Long-Term Outlook STABLE
Pretax Margin 4.24% Short-Term Rating Date -
Return on Assets 5.00% Short-Term Rating -
Return on Common Equity 12.12%
Return on Capital 8.66% EBITDA/Interest Exp. 18.19
Asset Turnover 2.27% (EBITDA-Capex)/Interest Exp. 4.17
Net Debt/EBITDA 1.87
Gross Margin - Total Debt/EBITDA 1.96
EBITDA Margin 6.1%
EBIT Margin 3.5% Total Debt/Equity 50.9%
Net Income Margin 3.0% Total Debt/Capital 32.2%
Asset Turnover 2.27
Current Ratio 0.77 Net Fixed Asset Turnover 3.74
Quick Ratio 0.25 Accounts receivable turnover-days 13.52
Debt to Assets 21.02% Inventory Days -
Tot Debt to Common Equity 50.93% Accounts Payable Turnover Day -
Accounts Receivable Turnover 27.06 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
China Petroleum & Chemical CorpPrice/Volume
Valuation Analysis
74'164'099.00
Current Price (10/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
-./0123456
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2-'- G
.--'- G
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/2-'- G
0.0
500'000.0
1'000'000.0
1'500'000.0
2'000'000.0
2'500'000.0
3'000'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
JP MORGAN CHASE & CO n/a EXCH 1'436'412'609 8.56 - 18.09.2012 Investment Advisor
BLACKROCK INC n/a EXCH 1'159'575'167 6.91 - 28.09.2012 Investment Advisor
FRANKLIN RESOURCES I n/a EXCH 1'006'669'203 6 - 26.01.2012 Investment Advisor
GOVT OF SINGAPORE IN n/a EXCH 803'053'154 4.79 - 27.08.2012 Government
VANGUARD GROUP INC Multiple Portfolios MF-AGG 753'187'194 4.49 37'213'851 30.09.2012 Investment Advisor
BLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 453'022'002 2.7 10'744'000 22.10.2012 Investment Advisor
CH PETROLEUM SHENGJU n/a EXCH 425'500'000 2.54 - 09.01.2012 n/a
FIDELITY INTERNATION Multiple Portfolios MF-AGG 241'822'937 1.44 86'590'802 29.02.2012 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 223'302'000 1.33 39'448'000 30.06.2012 Investment Advisor
BLACKROCK INC n/a Short (186'321'802) -1.11 - 28.09.2012 Investment Advisor
STATE STREET GLOBAL Multiple Portfolios MF-AGG 147'551'551 0.88 (1'940'552) 31.12.2011 Investment Advisor
BLACKROCK GROUP LIMI Multiple Portfolios MF-AGG 142'397'528 0.85 656'000 22.10.2012 Investment Advisor
ALLIANZ GLOBAL INV O Multiple Portfolios MF-AGG 108'482'200 0.65 103'986'000 30.09.2012 Investment Advisor
CAPITAL INTERNATIONA Multiple Portfolios MF-AGG 94'112'000 0.56 (13'892'000) 29.06.2012 Investment Advisor
ROBECO INVESTOR SERV Multiple Portfolios MF-AGG 91'792'998 0.55 (8'354'000) 31.08.2012 Investment Advisor
INVESTEC ASSET MANAG Multiple Portfolios MF-AGG 90'120'000 0.54 (22'168'000) 31.08.2012 Investment Advisor
SHINHAN BNP PARIBAS Multiple Portfolios MF-AGG 79'068'342 0.47 138'000 31.03.2012 Investment Advisor
SCHRODER KOREA LTD Multiple Portfolios MF-AGG 74'700'000 0.45 (6'564'000) 31.03.2012 Mutual Fund Manager
BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 64'479'400 0.38 30'000 23.10.2012 Investment Advisor
HARVEST FUND MANAGEM Multiple Portfolios MF-AGG 52'830'000 0.31 1'764'000 31.12.2011 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Sanford C. Bernstein & Co NEIL BEVERIDGE outperform 5 M 9 12 month 24.10.2012
SWS Research Co Ltd ALBERT MIAO buy 5 M 10 Not Provided 24.10.2012
Standard Chartered DUKE SUTTIKULPANICH in-line 3 M 8 12 month 22.10.2012
Renaissance Capital BRADLEY WAY sell 1 M 7 12 month 22.10.2012
BNP Paribas Equity Research CHENG KHOO buy 5 M 9 12 month 22.10.2012
Goldman Sachs ARTHUR YAN Buy/Neutral 5 M 9 12 month 17.10.2012
Bank of China International LAWRENCE LAU buy 5 M 9 Not Provided 17.10.2012
Credit Suisse DAVID HEWITT outperform 5 M 8 Not Provided 15.10.2012
Jefferies LABAN YU buy 5 M 8 12 month 09.10.2012
Nomura SONIA SONG reduce 2 M 7 Not Provided 09.10.2012
ICBC International Securities ANNA YU buy 5 M 8 Not Provided 05.10.2012
Deutsche Bank DAVID HURD buy 5 U 9 12 month 02.10.2012
Mirae Asset Securities GORDON KWAN buy 5 M 8 12 month 28.09.2012
VTB Capital COLIN SMITH hold 3 N 8 12 month 27.09.2012
UOB Kay Hian YAN SHI buy 5 M 9 Not Provided 12.09.2012
EVA Dimensions TEAM COVERAGE overweight 5 D #N/A N/A Not Provided 06.09.2012
BOCOM International Holdings WU FEI buy 5 M 8 12 month 28.08.2012
JPMorgan BRYNJAR EIRIK BUSTNES overweight 5 M 9 Not Provided 27.08.2012
HSBC THOMAS C HILBOLDT underweight 1 M 7 Not Provided 27.08.2012
Capital Securities Corp TEAM COVERAGE hold 3 D 11 Not Provided 27.08.2012
Macquarie JAMES HUBBARD neutral 3 M 7 12 month 27.08.2012
DBS Vickers WEE KEAT LEE hold 3 M 8 12 month 27.08.2012
Mizuho Securities ANDREW S F CHAN neutral 3 M 7 12 month 27.08.2012
Daiwa Securities Co. Ltd. ADRIAN LOH hold 3 M 7 Not Provided 27.08.2012
Barclays SCOTT DARLING equalweight 3 M 10 Not Provided 27.08.2012
Morgan Stanley WEE KIAT TAN Equalwt/In-Line 3 M 8 12 month 26.08.2012
Guotai Junan GRACE LIU accumulate 4 D 8 Not Provided 20.07.2012
Yuanta Securities Investment ConsultingTEAM COVERAGE Under Review #N/A N/A M #N/A N/A Not Provided 15.06.2012
Masterlink Securities LI XIN hold 3 M 10 6 month 30.03.2012
AMTD Financial Planning Limited KENNY TANG SING HING buy 5 N 10 Not Provided 08.02.2012
Citic Securities Co., Ltd YIN XIAODONG buy 5 M 10 6 month 11.01.2012
GuoSen Securities Co Ltd STEVEN LU buy 5 M 11 12 month 22.11.2011
RBS PETER HILTON buy 5 M 9 12 month 01.11.2011
China International Capital Corp BIN GUAN buy 5 M 11 12 month 29.08.2011
China Galaxy Securities LI GUOHONG buy 5 M #N/A N/A Not Provided 30.10.2009
Industrial Securities FANG LEI strong buy 5 N #N/A N/A Not Provided 20.07.2009
Holdings By:
China Petroleum & Chemical Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Transocean Ltd. is an offshore drilling contractor. The Company owns or
operates mobile offshore drilling units, inland drilling barges, and other
assets utilized in the support of offshore drilling activities worldwide.
Transocean specializes in technically demanding segments of the offshore
drilling business, including deepwater and harsh environment drilling services.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (28.10.2011) 60.09
52-Week Low (28.12.2011) 38.21
Daily Volume
47.67
52-Week High % Change -20.67% Dividend Yield 1.66
52-Week Low % Change 24.76% Beta 1.19
% 52 Week Price Range High/Low 43.24% Equity Float 358.94
Shares Out 15.10.2012 373.8 Short Int 4.64
17'820.51 1 Yr Total Return -11.72%
Total Debt 13'536.00 YTD Return 26.18%
Preferred Stock 0.0 Adjusted BETA 1.192
Minority Interest 106.0 Analyst Recs 46
Cash and Equivalents 4'017.00 Consensus Rating 4.196
Enterprise Value 26'681.51
Average Volume 5 Day 3'935'339
RIG US EQUITY YTD Change - Average Volume 30 Day 4'312'179
RIG US EQUITY YTD % CHANGE - Average Volume 3 Month 3'613'916
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
6'377.0 12'674.0 11'556.0 9'466.0 9'142.0 8'886.0 9'570.0 9'947.4 10'390.8 2'536.2 2'511.2
9.63x 2.17x 3.22x 3.17x 2.52x 13.45x 10.44x 2.60x 2.38x 10.25x 10.13x
3'366.0 6'430.0 5'926.0 4'048.0 1'853.0 3'137.0 1'347.0 3'339.8 4'174.9 911.7 918.4
18.25x 4.27x 6.27x 7.42x 12.44x 9.05x 18.51x 7.99x 6.39x 6.83x 6.49x
3'131.0 4'031.0 3'181.0 961.0 (5'725.0) 3.0 (6'452.0) 927.2 1'686.1 285.5 303.7
13.61x 3.43x 7.27x 14.79x - 39.61x 0.00x 16.44x 10.36x 12.39x 11.02x
EBITDA 1'853.00 Long-Term Rating Date -
EBIT 449.00 Long-Term Rating -
Operating Margin 4.91% Long-Term Outlook -
Pretax Margin -59.44% Short-Term Rating Date -
Return on Assets -18.08% Short-Term Rating -
Return on Common Equity -35.35%
Return on Capital - EBITDA/Interest Exp. 2.81
Asset Turnover 0.27% (EBITDA-Capex)/Interest Exp. 1.26
Net Debt/EBITDA 6.59
Gross Margin 8.1% Total Debt/EBITDA 9.53
EBITDA Margin 14.1%
EBIT Margin -0.4% Total Debt/Equity 86.2%
Net Income Margin -62.6% Total Debt/Capital 46.1%
Asset Turnover 0.27
Current Ratio 1.42 Net Fixed Asset Turnover 0.44
Quick Ratio 1.16 Accounts receivable turnover-days 81.04
Debt to Assets 38.58% Inventory Days 24.04
Tot Debt to Common Equity 86.21% Accounts Payable Turnover Day 32.18
Accounts Receivable Turnover 4.52 Cash Conversion Cycle 68.33
Inventory Turnover 15.23
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Transocean LtdPrice/Volume
Valuation Analysis
3'745'654.00
Current Price (10/dd/yy) Market Data
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0-
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/2'- G
0-'- G
02'- G
0.0
2'000.0
4'000.0
6'000.0
8'000.0
10'000.0
12'000.0
14'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
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./'--
-/'-.'/--6 -/'-4'/--6 -/'-.'/-.- -/'-4'/-.- -/'-.'/-.. -/'-4'/-.. -/'-.'/-./ -/'-4'/-./
FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CAPITAL WORLD INVEST CAPITAL WORLD INVEST 13F 19'982'400 5.35 (250'000) 30.06.2012 Investment Advisor
CAPITAL GROUP COMPAN n/a EXCH 18'408'177 4.92 - 27.09.2012 Investment Advisor
CAPITAL GROUP COMPAN n/a EXCH 18'323'120 4.9 5'390'147 24.01.2012 Investment Advisor
TRANSOCEAN LTD n/a EXCH 14'606'469 3.91 - 06.05.2012 n/a
FRANKLIN RESOURCES I FRANKLIN MUTUAL ADVI 13F 9'331'753 2.5 185'058 30.06.2012 Investment Advisor
WENTWORTH HAUSER AND WENTWORTH HAUSER AND 13F 8'506'169 2.28 488'078 30.06.2012 Investment Advisor
ALLIANCEBERNSTEIN LP ALLIANCEBERNSTEIN LP 13F 6'857'849 1.83 (673'646) 30.06.2012 Investment Advisor
NORGES BANK NORGES BANK 13F 6'269'394 1.68 6'269'394 31.12.2011 Government
ONTARIO TEACHERS PEN ONTARIO TEACHERS PEN 13F 6'045'594 1.62 (346'250) 30.06.2012 Pension Fund (ERISA)
DAVIS SELECTED ADVIS DAVIS SELECTED ADVIS 13F 5'757'524 1.54 (675'160) 30.06.2012 Investment Advisor
UBS AG UBS AG 13F 5'570'306 1.49 (161'827) 30.06.2012 Investment Advisor
FIDELITY INTERNATION FIDELITY INTERNATION 13F 5'368'041 1.44 (636'384) 30.06.2012 Investment Advisor
CREDIT SUISSE ASSET Multiple Portfolios MF-AGG 4'878'298 1.3 (28'959) 31.08.2012 Mutual Fund Manager
DEUTSCHE BANK AG DEUTSCHE BANK AKTIEN 13F 4'591'975 1.23 (1'434'168) 30.06.2012 Investment Advisor
SAC CAPITAL ADVISORS SAC CAPITAL ADVISORS 13F 3'497'012 0.94 524'894 30.06.2012 Hedge Fund Manager
GOLDMAN SACHS GROUP GOLDMAN SACHS GROUP 13F 3'217'455 0.86 2'213'851 30.06.2012 Investment Advisor
OPPENHEIMERFUNDS INC OPPENHEIMER FUNDS IN 13F 3'118'933 0.83 29'282 30.06.2012 Investment Advisor
UBS FUND MANAGEMENT Multiple Portfolios MF-AGG 3'028'539 0.81 47'046 29.06.2012 Investment Advisor
MASSACHUSETTS FINANC MASSACHUSETTS FINANC 13F 2'800'964 0.75 35'259 30.06.2012 Investment Advisor
TAUBE HODSON STONEX TAUBE HODSON STONEX 13F 2'788'460 0.75 209'860 30.09.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Jefferies BRAD HANDLER buy 5 M 57 12 month 22.10.2012
Stephens Inc JOHN KELLER equalweight 3 M 57 Not Provided 22.10.2012
Sanford C. Bernstein & Co SCOTT GRUBER outperform 5 M 66 12 month 19.10.2012
ISI Group JUDSON E BAILEY buy 5 M 65 12 month 19.10.2012
DNB Markets MARTIN HUSEBY KARLSEN buy 5 M 60 Not Provided 19.10.2012
Howard Weil Inc DAVID T WILSON market outperform 4 M 67 12 month 18.10.2012
JPMorgan J DAVID ANDERSON neutral 3 M 56 12 month 18.10.2012
Capital One Southcoast, Inc. LUKE M LEMOINE add 4 M 60 Not Provided 18.10.2012
Raymond James J MARSHALL ADKINS market perform 3 M #N/A N/A Not Provided 18.10.2012
Guggenheim Securities LLC DARREN GACICIA neutral 3 M 50 12 month 18.10.2012
Gabelli & Co ANDREA SHARKEY buy 5 M #N/A N/A Not Provided 18.10.2012
Susquehanna Financial Group CHARLES P MINERVINO Positive 4 M 60 12 month 18.10.2012
Barclays JAMES C WEST overweight 5 M 74 Not Provided 18.10.2012
Global Hunter Securities BRIAN UHLMER buy 5 M 56 12 month 18.10.2012
Iberia Capital Partners LLC TREY STOLZ outperform 5 M 74 12 month 18.10.2012
Clarkson Capital Markets LLC TODD P SCHOLL market perform 3 M 55 12 month 18.10.2012
Swedbank First Securities BJORN THORESEN strong buy 5 M 64 Not Provided 18.10.2012
RBC Capital Markets JUSTIN SANDER outperform 5 M 54 12 month 17.10.2012
Credit Suisse GREGORY LEWIS neutral 3 M 56 Not Provided 17.10.2012
Wells Fargo Securities, LLC MATTHEW D CONLAN outperform 5 M #N/A N/A Not Provided 17.10.2012
Dahlman Rose & Co JAMES D CRANDELL buy 5 M 62 Not Provided 16.10.2012
BMO Capital Markets ALAN D LAWS outperform 5 M 65 Not Provided 15.10.2012
Macquarie NIGEL BROWNE outperform 5 U 55 12 month 15.10.2012
FBR Capital Markets ROBERT J MACKENZIE outperform 5 M 60 12 month 10.10.2012
Deutsche Bank MICHAEL W URBAN hold 3 M 53 12 month 05.10.2012
Edward Jones BRIAN YOUNGBERG hold 3 M #N/A N/A Not Provided 01.10.2012
Credit Agricole Securities (USA) DAVID S HAVENS outperform 5 M 53 Not Provided 01.10.2012
Oracle Investment Research LAURENCE BALTER strong buy 5 U 75 Not Provided 27.09.2012
Goldman Sachs WAQAR SYED neutral/attractive 3 U 54 6 month 26.09.2012
Argus Research Corp PHILIP H WEISS hold 3 M #N/A N/A Not Provided 17.09.2012
HSBC DAVID PHILLIPS overweight 5 M 73 Not Provided 14.09.2012
Zuercher Kantonalbank MARTIN SCHREIBER market perform 3 M #N/A N/A Not Provided 13.09.2012
Main First Bank AG BERND POMREHN neutral 3 M 50 12 month 13.09.2012
Morgan Stanley OLE SLORER Overwt/Attractive 5 M 69 12 month 11.09.2012
Nordea Equity Research DAVID BHATTI buy 5 N 64 12 month 11.09.2012
Bank Vontobel AG FABIAN HAECKI hold 3 M 52 Not Provided 04.09.2012
Fearnley Fonds TRULS OLSEN buy 5 M 60 Not Provided 03.09.2012
Tudor Pickering & Co JOE HILL hold 3 M #N/A N/A Not Provided 28.08.2012
Johnson Rice & Co DAVID C SMITH overweight 5 M #N/A N/A Not Provided 06.08.2012
RS Platou Markets ANDERS BERGLAND buy 5 M 68 6 month 16.04.2012
Daiwa Securities Co. Ltd. HIROKAZU KABEYA neutral 3 N #N/A N/A Not Provided 13.04.2012
Miller Tabak + Co., LLC KEVIN SIMPSON neutral 3 M 75 12 month 05.04.2012
Pareto Securities FRANK HARESTAD buy 5 M 79 6 month 28.02.2012
Holdings By:
Transocean Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
PTT Exploration and Production Public Company Limited explores for crude oil and
natural gas, develops fields for production, and produces oil and natural gas.
The Company is a subsidiary of the Petroleum Authority of Thailand.
Latest Fiscal Year: 12/2011
LTM as of: 06/yy
52-Week High (02.03.2012) 187.00
52-Week Low (03.08.2012) 147.50
Daily Volume
156
52-Week High % Change -16.58% Dividend Yield -
52-Week Low % Change 5.76% Beta 1.04
% 52 Week Price Range High/Low 24.05% Equity Float 1'044.00
Shares Out 14.08.2012 3'320.0 Short Int -
517'917.72 1 Yr Total Return 5.49%
Total Debt 122'745.22 YTD Return -4.22%
Preferred Stock 0.0 Adjusted BETA 1.040
Minority Interest 0.0 Analyst Recs 38
Cash and Equivalents 42'799.90 Consensus Rating 3.868
Enterprise Value 623'701.26
Average Volume 5 Day 1'908'060
PTTEP TB EQUITY YTD Change - Average Volume 30 Day 3'553'757
PTTEP TB EQUITY YTD % CHANGE - Average Volume 3 Month 4'025'764
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 06/yy 06/yy 12/12 Y 12/13 Y 09/12 Q3 12/12 Q4
95'047.4 138'946.9 119'962.0 140'655.7 169'645.8 152'734.6 188'198.5 200'862.4 239'177.8 54'581.2 53'030.7
5.63x 2.38x 4.16x 4.09x 3.77x 15.75x 13.25x 3.01x 2.43x - -
67'971.5 98'153.8 72'289.0 100'172.8 120'864.3 105'672.4 138'355.9 142'608.7 165'101.4 40'309.3 37'735.0
7.87x 3.38x 6.91x 5.75x 5.29x 6.14x 4.80x 4.37x 3.78x - -
28'455.4 41'674.8 22'153.6 43'773.8 44'748.1 44'300.7 48'620.5 56'150.9 64'769.7 17'326.8 12'788.0
18.96x 8.48x 21.97x 12.72x 12.50x 12.79x 11.48x 9.58x 8.71x 9.23x 9.82x
EBITDA 120'864.31 Long-Term Rating Date 17.02.2011
EBIT 82'037.25 Long-Term Rating BBB+
Operating Margin 48.36% Long-Term Outlook NEG
Pretax Margin 47.04% Short-Term Rating Date -
Return on Assets 11.22% Short-Term Rating -
Return on Common Equity 24.13%
Return on Capital 15.73% EBITDA/Interest Exp. 32.05
Asset Turnover 0.43% (EBITDA-Capex)/Interest Exp. 14.21
Net Debt/EBITDA 0.76
Gross Margin 77.2% Total Debt/EBITDA 0.90
EBITDA Margin 73.5%
EBIT Margin 50.8% Total Debt/Equity 61.4%
Net Income Margin 26.4% Total Debt/Capital 38.0%
Asset Turnover 0.43
Current Ratio 0.87 Net Fixed Asset Turnover 0.65
Quick Ratio 0.63 Accounts receivable turnover-days 38.70
Debt to Assets 27.41% Inventory Days 90.91
Tot Debt to Common Equity 61.37% Accounts Payable Turnover Day 26.94
Accounts Receivable Turnover 9.46 Cash Conversion Cycle 94.15
Inventory Turnover 4.03
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
PTT Exploration & Production PCLPrice/Volume
Valuation Analysis
2'735'000.00
Current Price (10/dd/yy) Market Data
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0.0
20'000.0
40'000.0
60'000.0
80'000.0
100'000.0
120'000.0
140'000.0
160'000.0
180'000.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
24.10.2012
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
PTT PCL #N/A N/A EXCH 2'167'500'700 65.29 - 15.10.2012 Government
ABERDEEN ASSET MANAG Multiple Portfolios MF-AGG 90'238'845 2.72 - 28.09.2012 Investment Advisor
THAI NVDR CO LTD #N/A N/A EXCH 78'974'969 2.38 - 15.10.2012 Corporation
STATE STREET BANK AN #N/A N/A EXCH 77'623'441 2.34 - 15.10.2012 Bank
BNP PARIBAS SEC SERV #N/A N/A EXCH 69'566'545 2.1 - 15.10.2012 Investment Advisor
STATE STREET BANK EU n/a EXCH 49'263'984 1.48 - 15.10.2012 n/a
BNP PARIBAS SEC SERV #N/A N/A EXCH 39'279'100 1.18 - 15.10.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 27'996'154 0.84 999'200 30.06.2012 Investment Advisor
SOCIAL SECURITY OFFI #N/A N/A EXCH 27'674'800 0.83 - 15.10.2012 Unclassified
BANK OF NEW YORK MEL #N/A N/A EXCH 27'551'200 0.83 - 15.10.2012 Investment Advisor
LAZARD ASSET MANAGEM Multiple Portfolios MF-AGG 19'387'950 0.58 1'364'100 30.09.2012 Investment Advisor
MORGAN STANLEY & CO #N/A N/A EXCH 17'260'600 0.52 - 15.10.2012 Investment Advisor
TMB ASSET MANAGEMENT Multiple Portfolios MF-AGG 8'022'500 0.24 (110'500) 28.09.2012 Investment Advisor
DANSKE INVEST A/S Multiple Portfolios MF-AGG 5'353'145 0.16 - 30.09.2012 Investment Advisor
MORGAN STANLEY Multiple Portfolios MF-AGG 1'677'600 0.05 - 30.06.2012 Investment Advisor
THOMAS WHITE INTERNA Multiple Portfolios MF-AGG 1'241'400 0.04 - 28.09.2012 Investment Advisor
LAZARD GLOBAL ACTIVE Multiple Portfolios MF-AGG 877'900 0.03 62'600 30.09.2012 Investment Advisor
THRIVENT FINANCIAL F Multiple Portfolios MF-AGG 828'100 0.02 - 31.07.2012 Investment Advisor
AIG INVESTMENT CORP Multiple Portfolios MF-AGG 800'000 0.02 - 31.12.2010 Investment Advisor
KBC GROUP NV Multiple Portfolios MF-AGG 624'784 0.02 19'592 28.09.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Morgan Stanley MAYANK MAHESHWARI Equalwt/In-Line 3 M 148 12 month 22.10.2012
Kasikorn Securities SORAPONG JAKTEERUGKUL neutral 3 M 165 12 month 19.10.2012
Goldman Sachs PATRICK TIAH Buy/Neutral 5 M 191 12 month 17.10.2012
CIMB SUWAT SINSADOK trading buy 5 U 180 3 month 17.10.2012
UOB Kay Hian CHAIWAT ARSIRAWICHAI buy 5 M 165 Not Provided 17.10.2012
Krungsri Securities CHARNVUT TAECHA-AMORNTANAKIJ trading 2 M 187 12 month 16.10.2012
KTB Securities Thailand Co Ltd PARIN KITCHATORNPITAK buy 5 M 204 Not Provided 16.10.2012
Credit Suisse PAWORAMON SUVARNATEMEE underperform 1 M 156 Not Provided 15.10.2012
AIRA Securities KATE TOUNGTONG buy 5 M 169 Not Provided 15.10.2012
DBS Vickers NAPHAT CHANTARASEREKUL hold 3 M 157 12 month 12.10.2012
Kim Eng Securities SUTTHICHAI KUMWORACHAI buy 5 M 185 12 month 12.10.2012
Phillip Securities RUTSADA TWEESAENGSAKULTHAI buy 5 U 182 Not Provided 12.10.2012
Finansia Syrus Securities PCL SONGKLOD WONGCHAI buy 5 M 195 Not Provided 12.10.2012
Trinity Securities VAJIRALUX SANGLERDSILLAPACHAI buy 5 U 187 Not Provided 12.10.2012
KT Zmico Securities PATCHARIN KARSEMARNUNTANA buy 5 M 182 12 month 11.10.2012
OSK (Asia) Securities KANNIKA SIAMWALLA sell 1 M 142 12 month 11.10.2012
SCB Securities Co. Ltd. CHAIPAT THANAWATTANO neutral 3 M 170 Not Provided 11.10.2012
Bualuang Securities THANATTHEP CHANTARAKARN buy 5 U 188 12 month 10.10.2012
Thanachart Securities PCL SUPANNA SUWANKIRD sell 1 M 151 12 month 09.10.2012
BNP Paribas Equity Research TANAPORN VISARUTHAPHONG buy 5 N 216 12 month 08.10.2012
Deutsche Bank THAPANA PHANICH hold 3 M 190 12 month 03.10.2012
Macquarie TREVOR BUCHINSKI neutral 3 M 165 12 month 02.10.2012
Asia Plus Securities NALINRAT KITTIKUMPOLRAT buy 5 U 168 12 month 26.09.2012
JPMorgan AVIN SONY neutral 3 M 185 Not Provided 21.09.2012
Sanford C. Bernstein & Co NEIL BEVERIDGE underperform 1 M 150 12 month 21.09.2012
HSBC THOMAS C HILBOLDT neutral 3 N 165 Not Provided 17.09.2012
Barclays SCOTT DARLING equalweight 3 D 220 Not Provided 31.08.2012
Standard Chartered DUKE SUTTIKULPANICH outperform 5 M 200 12 month 25.08.2012
Daiwa Securities Co. Ltd. ADRIAN LOH buy 5 M 190 Not Provided 23.07.2012
IV Global RATTANA LEENUTAPHONG buy 5 M 199 Not Provided 24.05.2012
Country Group Securities PCL MONGKOL PUANGPETRA buy 5 M 192 12 month 30.04.2012
KGI Securities PIYATHIDA VONGVIVATHCHAI outperform 5 M 212 Not Provided 25.04.2012
EVA Dimensions TEAM COVERAGE buy 5 U #N/A N/A Not Provided 22.02.2012
Globlex Securities Co Ltd ARTIT JANSAWANG buy 5 M 192 Not Provided 10.01.2012
Holdings By:
PTT Exploration & Production PCL ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |