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Oil & Gas dividend revisions
The oil-price collapse, as a result of the growing Covid-19 outbreak and the ensuing price war between OPEC+ members, has wiped out tens of billions of dollars in energy-company stock market value in the last weeks. This calls into question oil & gas companies' ability to sustain dividends, considering their financial flexibility and the debt owed to bondholders and banks in the coming years
As such, given this current environment we have reviewed forecasts for oil & gas companies globally and cut dividends for names underpinned by indicators such as Net Debt/EBITDA, Dividend Yield and debt maturing through FY22, signaling dividend sustainability risk.
We will continue monitoring our forecasts across the oil & gas sector, given the uncertainty presented by depressed oil prices and the Covid-19 situation globally.
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