Gazpromneft – historically high dividends overestimated the company
9.11.23 "Gazprom Neft's Board of Directors recommended dividends for 9 months in the amount of 82.94 rubles per share, despite the fact that the market predicted them at 56.8 rubles."
Increased dividend payments spurred the growth of the company's shares. At the same time, the value of Gazprom Neft's business by multipliers exceeded the value of the business of similar international companies, which indicates the overvaluation of Gazprom Neft shares by the market.
TAKE PROFIT
Since the beginning of November 2023, Gazpromneft shares have formed support at the level of 825 rubles. On 01/24.24, this support was broken through. Fixing the share price below 825 rubles will allow us to talk about the head-shoulders reversal figure, which has been formed since November 2023, the goal of which is the level of 720 rubles, where there is also an unclosed gap.
In our opinion, the target of the stock movement is 720 rubles (-12% of the current price of 817 rubles).
STOP LOSS
Do not forget about risk management. If the price is fixed above 850 rubles (+4% of the current price of 817 rubles), the scenario with a further fall in the paper is canceled. We do not recommend opening a short position, due to the significant risks of playing short.
Disclamer. The analytics presented here are designed for people who have at least a basic understanding of the Russian financial market. If you have difficulties with the practical implementation of our recommendations, you can use the services of our specialists with the Portfolio Consultant package at the link: https://eraperemen.info/priobresti/
