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Saudi Aramco closes at lowest price since March 2023
29/05/2024
Argaam Exclusive
AI Summary
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Shares of Tadawul-listed Saudi Arabian Oil Co. (Saudi Aramco) plunged by 1% today, May 29, to end at SAR 29.05, recording the lowest close since March 2023, with about 6.6 million shares traded.
| Year High (SAR) | Year Low (SAR) |
| 35.15 | 29.05 |
| Highest Since Debut (SAR) | Lowest Since Debut (SAR) |
| 39.41 | 22.32 |
Accordingly, the year-to-date (YTD) losses increased to more than 10%.
Market Data :
| Open | 25.92 |
| Low | 25.86 |
| High | 26.02 |
| Previous Close | 25.92 |
| Change (3M) | 6.85 % |
| Change (6M) | 2.17 % |
| Market Value | 6,267,800.00 |
| Avg. Volume (3M) | 12,763,716.80 |
| Avg. Turnover (3M) | 312,941,295.47 |
| Avg. Transaction (3M) | 20,434.66 |
| Change(12M) | (4.25 %) |
| YTD | (7.66 %) |
Aramco has made several changes to its capital since its debut on Tadawul in 2019, as shown below:
Adjustments to the capital (M Riyal) :
| Date | Type | Capital (M Riyal) | Change (%) |
| 2024 | Secondary Offering | 90,000.00 | 0.00% |
| 2023 | Split | 90,000.00 | 20.00% |
| 2022 | Split | 75,000.00 | 25.00% |
| 2019 | IPO | 60,000.00 | 0.00% |
Financial Performance :
Overview :
Saudi Aramco is the state-owned oil company of the Kingdom of Saudi Arabia, and the world's largest producer of oil and chemicals.
Over the past 80 years, the company has become a world leader in hydrocarbons exploration, production, refining, distribution and marketing.
In 1988, the company was incorporated by a royal decree, establishing a new company to take over the responsibilities of an oil concession initially signed in 1933 between the Saudi government and Standard Oil Company of C...
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Financial Ratios :
| Financial Ratio | Current |
| Market Cap (M Riyal) | 6,267,806.29 |
| Shares Outstanding ((M)) | 242,000.00 |
| EPS ( ) (TTM) | 1.51 |
| Book Value (BV) ( Riyal) (Latest announcement) | 6.13 |
| Recurring P/E | 16.98 |
| Price/book | 4.22 |
| Dividend Yield (%) (Last Year) | 6.85 |
| Return on Average Assets (%) (TTM) | 14.87 |
| Return on Average Equity (%) (TTM) | 24.45 |
| Par Value ( Riyal) | - |
| Enterprise Value (EV) (M Riyal) | 6,543,671.29 |
| EV/adj EBITDA | 7.86 |
| EV/Revenues | 3.78 |
Calendar :
-
02 June
Key Events
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02 June
IPO/ Subscription
- -
03 June
IPO/ Subscription
- -
05 June
IPO/ Subscription
- -
06 June
Key Events
- -
07 June
Key Events
-
Analyst Estimates :
34.92
Fair Average Price
14
Number of Recommendations
| Rating | Research firm | Current Price | Target Price | Change | |
| Overweight | JP Morgan | 29.30 | 35.00 | 19.45 % | |
| Neutral | Morgan Stanley International | 29.95 | 31.00 | 3.51 % | |
| Neutral | RBC Capital | 29.95 | 51.00 | 70.28 % | |
| Neutral | Exane | 29.95 | 33.64 | 12.32 % | |
| Hold | kepler cheuvreux | 29.95 | 32.80 | 9.52 % | |
| Neutral | Hermes | 29.95 | 31.00 | 3.51 % | |
| Hold | HSBC | 29.95 | 34.60 | 15.53 % | |
| Buy | Bank of America | 29.95 | 38.00 | 26.88 % | |
| Neutral | Goldman Sachs | 29.95 | 37.00 | 23.54 % | |
| Neutral | Citi Bank Group | 30.15 | 32.00 | 6.14 % | |
| Neutral | Morgan Stanley International | 30.30 | 31.00 | 2.31 % | |
| Neutral | SNB Capital | 31.20 | 33.40 | 7.05 % | |
| Neutral | Al Rajhi Capital | 31.15 | 33.50 | 7.54 % | |
| Overweight | JP Morgan | 32.20 | 35.00 | 8.70 % |
Call Request
Comments Analysis: