Serica Energy (SQZ.L) on Tuesday unveiled a new dividend policy to target dividends of 15% to 30% of its post-tax cash flow from operations for 2026 and onward.
The oil and gas company also maintained its outlook for 2026, including a production forecast of "significantly over" 40,000 barrels of oil equivalent per day.
Serica still expects to shift to the London stock exchange's main market from the AIM segment in the third quarter.
Berenberg raised its estimates and price target for Siemens Energy (ENR.F), noting the revamp of ageing grid infrastructure and the broader push for electrification as key drivers for the German energy technology company."We increase our estimates slightly for organic revenue growth within the Grid Technologies segment. We now forecast revenue of EUR14bn, EUR16.9bn and EUR20bn for 2026, 2027 and 2028 respectively. This moves our estimates a low-single-digit percentage above consensus for these years," analysts said in a Monday note focused on the electrical sector. "We also forecast above-guidance profit margins of c20-21% for the 2026-28 period. This is driven, in our view, by the expected strength in orders translating through to greater top-line volumes and from pricing benefits supporting profit margins. We make minor changes to our estimates across the rest of the business."As such, Berenberg's sales, EPS and EBITA estimates for the group were increased over 2026 to 2028.The price target increased to 205 euros from 200 euros, with an unchanged buy rating.
SBM Offshore's (SBMO.AS) joint venture with Solstad Offshore (SOFF.OL) entered into a letter of intent for the potential acquisition of a new deepwater installation and construction vessel.The vessel will be acquired from an unnamed shipyard, according to a Monday release. Based on the ownership structure of the joint venture, Dutch offshore floating production company SBM will own 49.9% of the new vessel, while Norwegian offshore shipping company Solstad will own the remaining 50.1% interest.The target delivery date for the new vessel is the first half of 2029. SBM said the vessel may be chartered to third parties when not in use for its installation projects.
Britain's Competition and Markets Authority has found no evidence that retailers alerted fuel pricing strategies to exploit the Middle East crisis, but warned that lower competition in the sector continues to leave drivers paying more, Reuters reported Monday.The CMA said elevated wholesale prices linked to the US-Israel war in Iran, which began in February, explain most of the rise in pump prices through March and into April. The regulator said it would closely monitor whether any improvement in supply conditions is passed on to consumers."While our analysis shows the rise in wholesale prices is the main reason for higher fuel prices, we remain concerned about weak competition in the sector leaving drivers paying more," CMA chief Sarah Cardell said.