Oil and Gas Sector Records 1 Gainer to 7 Losers; Index Dipped By -19.83% YTD

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Tuesday, May 05, 2020 10:55 AM / by Proshare Research/ Header Image Credit:  Oilprice


 Proshare Nigeria Pvt. Ltd.


The drop in the price of crude oil at the international market occasioned by the coronavirus-driven demand disruption, excess supply and historic volatility due to storage concerns is currently taking it toes on the oil companies around the globe. The Brent crude which trades at $27.96 as at 4:03pm (EDT) has so far -57.67% YTD from the price of $66 at the beginning of the year.

 

A performance review of the stocks listed in the sector on the Nigerian Stock Exchange reflected that it has been bearish so far in the year with 1 gainer to 7 losers. A review of the NSE Oil and Gas Index revealed that it has so far dropped by -19.83% YTD as against -13.98% YTD loss recorded by the NSEASI. This suggested the NSE Oil and Gas Index has so far underperformed the NSEASI in year 2020 as at May 4th, 2020.

 

Table 1: NSEASI vs Oil & Gas Index YTD Returns

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Advancers and Decliners

A review of the gainers and losers within the Oil and Gas sector reflected that the sector recorded one (1) gainer to seven (7) losers. MOBIL which is the only gainer on the list recorded +8.79% YTD return as at May 4th, 2020.

 

However, ETERNA and OANDO lead the list of the seven (7) losers with -40.00% and -37.09% losses respectively.

 

Further analysis on advancers and decliners showed that consumer goods sector recorded more gainers and less losers during lockdown and otherwise before lockdown. 3 gainers to 3 losers were recorded during lockdown as at May 4th, 2020 as against 0 gainer to 8 losers.

 

Table 2: Gainers and Losers YTD

SN

Ticker

30-Apr-20

04-May-20

Today's %

YtD %

Yr high

Yr low

1

MOBIL

160.90

               160.90

0.00%

8.79%

160.90

133.20

2

JAPAULOIL

0.20

                   0.20

0.00%

0.00%

0.26

0.20

3

CONOIL

17.40

                  17.40

0.00%

-5.95%

      20.85

        13.15

4

MRS

13.80

                  13.80

0.00%

-9.80%

15.30

13.80

5

TOTAL

96.30

                 96.30

0.00%

-13.17%

117.00

96.30

6

SEPLAT

494.40

              494.40

0.00%

-24.84%

605.00

490.10

7

ARDOVA

11.55

                  12.70

9.96%

-29.83%

20.60

       11.20

8

OANDO

2.48

                    2.51

1.21%

-37.09%

3.99

1.89

9

ETERNA

2.16

                    2.16

0.00%

-40.00%

         3.60

         1.99

Source: NSE, Proshare Research

 

Table 3: Gainers and Losers During Lockdown

SN

Ticker

26-Mar-20

04-May-20

Return (%)

1

CONOIL

            13.15

             17.40

32.32%

2

OANDO

2.15

               2.51

16.74%

3

MOBIL

146.50

          160.90

9.83%

4

JAPAULOIL

0.20

              0.20

0.00%

5

MRS

13.80

             13.80

0.00%

6

TOTAL

96.30

            96.30

0.00%

7

ARDOVA

13.80

             12.70

-7.97%

8

SEPLAT

544.50

         494.40

-9.20%

9

ETERNA

              2.39

               2.16

-9.62%

Source: NSE, Proshare Research

 

Table 4: Gainers and Losers Before Lockdown

SN

Ticker

31-Dec-19

26-Mar-20

Return (%)

1

JAPAULOIL

0.20

0.20

0.00%

2

MOBIL

147.90

146.50

-0.95%

3

MRS

15.30

13.80

-9.80%

4

TOTAL

110.90

96.30

-13.17%

5

SEPLAT

657.80

544.50

-17.22%

6

ARDOVA

18.10

13.80

-23.76%

7

CONOIL

          18.50

             13.15

-28.92%

8

ETERNA

           3.60

              2.39

-33.61%

9

OANDO

3.99

2.15

-46.12%

Source: NSE, Proshare Research


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Ratio Analysis

A review of the EPS of the Oil and Gas stocks showed that MOBIL and CONOIL has the highest EPS ratio of 17.59 and 2.45 while SEPLAT and JAPAULOIL recorded negative EPS to lead otherwise.

 

Table 5: EPS

Company

Last Price

Change

% Change

Quarter

Year End

EPS

MOBIL

160.9

0

0

Q3

30/09/2019

17.59

CONOIL

17.4

0

0

Q3

30/09/2019

2.45

OANDO

2.51

0.03

1.21

Q3

30/09/2019

1.05

ETERNA

2.16

0

0

Q3

30/09/2019

0.12

ANINO

0.25

0

0

Q3

30/09/2019

0.04

AFROIL

20.71

0

0

Q3

30/09/2019

0

FO

12.45

-1.35

-9.78

Q3

30/09/2019

0

MRS

13.8

0

0

Q3

30/09/2019

0

TOTAL

96.3

0

0

Q3

30/09/2019

0

CAPOIL

0.2

0

0

Q2

30/06/2018

-0.01

RAKUNITY

0.3

0

0

Audited

31/12/2019

-0.03

JAPAULOIL

0.2

0

0

Q3

30/09/2019

-0.34

SEPLAT

494.4

0

0

Q1

31/03/2020

-58.84

Source: Proshare MARKETS

 

On PE Ratio, ETERNA and MOBIL top the chart while CAPOIL and RAKUNITY lead otherwise with negative PE Ratio.

 

Table 6: PE Ratio

Company

Last Price

Change

% Change

Quarter

Year End

PE Ratio

ETERNA

2.16

0

0

Q3

30/09/2019

18.76

MOBIL

160.9

0

0

Q3

30/09/2019

9.15

CONOIL

17.4

0

0

Q3

30/09/2019

7.1

ANINO

0.25

0

0

Q3

30/09/2019

6.71

OANDO

2.51

0.03

1.21

Q3

30/09/2019

2.39

JAPAULOIL

0.2

0

0

Q3

30/09/2019

-0.59

SEPLAT

494.4

0

0

Q1

31/03/2020

-8.4

RAKUNITY

0.3

0

0

Audited

31/12/2019

-11.7

CAPOIL

0.2

0

0

Q2

30/06/2018

-26.33

AFROIL

20.71

0

0

Q3

30/09/2019

0

FO

12.45

-1.35

-9.78

Q3

30/09/2019

0

MRS

13.8

0

0

Q3

30/09/2019

0

TOTAL

96.3

0

0

Q3

30/09/2019

0

Source: Proshare MARKETS

 

MOBIL and CONOIL recorded the highest ROE of 0.17 and 0.09 while CAPOIL and SEPLAT recorded negative ROE to lead otherwise.

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Table 7: ROE

Company

Last Price

Change

% Change

PAT (mln)

Net Assets (mln)

% ROE

MOBIL

160.9

0

0

6,343.00

37,141.00

0.17

CONOIL

17.4

0

0

1,700.00

18,613.00

0.09

OANDO

2.51

0.03

1.21

13,064.00

289,330.00

0.05

ETERNA

2.16

0

0

150.19

12,702.00

0.01

ANINO

0.25

0

0

0.9

173.5

0.01

FO

12.45

-1.35

-9.78

0

17,507.00

0

MRS

13.8

0

0

0

19,591.00

0

TOTAL

96.3

0

0

0

25,805.00

0

RAKUNITY

0.3

0

0

-14.52

576.89

-0.03

JAPAULOIL

0.2

0

0

-2,110.00

37,650.00

-0.06

SEPLAT

494.4

0

0

-34,627.00

613,728.00

-0.06

CAPOIL

0.2

0

0

-44.49

186.44

-0.24

AFROIL

20.71

0

0

 

 

0

Source: Proshare MARKETS

 

SEPLAT and CAPOIL both recorded negative ROA.

 

Table 8: ROA

Company

Last Price

Change

% Change

PAT (mln)

Net Assets (mln)

% ROA

ANINO

0.25

0

0

0.9

202.87

0

SEPLAT

494.4

0

0

-34,627.00

1,109,038.00

-0.03

CAPOIL

0.2

0

0

-44.49

1,108.00

-0.04

AFROIL

20.71

0

0

 

 

0

CONOIL

17.4

0

0

1,700.00

0

0

ETERNA

2.16

0

0

150.19

0

0

FO

12.45

-1.35

-9.78

0

53,641.00

0

JAPAULOIL

0.2

0

0

-2,110.00

0

0

MOBIL

160.9

0

0

6,343.00

0

0

MRS

13.8

0

0

0

0

0

OANDO

2.51

0.03

1.21

13,064.00

0

0

RAKUNITY

0.3

0

0

-14.52

0

0

TOTAL

96.3

0

0

0

145,273.00

0

Source: Proshare MARKETS

 

MOBIL and OANDO recorded the highest PAT Margin of 4.48 and 3.16 while JAPAULOIL and SEPLAT recorded negative PAT Margin to lead otherwise.

 

Table 9: PAT Margin

Company

Last Price

Change

% Change

PAT (mln)

Turnover (mln)

% PAT Margin

MOBIL

160.9

0

0

6,343.00

141,511.00

4.48

OANDO

2.51

0.03

1.21

13,064.00

413,760.00

3.16

CONOIL

17.4

0

0

1,700.00

112,722.00

1.51

ANINO

0.25

0

0

0.9

307.94

0.29

ETERNA

2.16

0

0

150.19

211,258.00

0.07

FO

12.45

-1.35

-9.78

0

123,546.00

0

MRS

13.8

0

0

0

47,278.00

0

TOTAL

96.3

0

0

0

221,835.00

0

RAKUNITY

0.3

0

0

-14.52

4,419.00

-0.33

SEPLAT

494.4

0

0

-34,627.00

42,408.00

-81.65

JAPAULOIL

0.2

0

0

-2,110.00

510.76

-413.11

Source: Proshare MARKETS

 

Proshare Nigeria Pvt. Ltd.


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