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22 stories mentioning ADX:ADNOCLSUpdated 4d ago

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Equities

Market Chatter: Adnoc Unit Said to Buy Five Very Large Crude Carriers

Adnoc Logistics & Services (ADX:ADNOCLS), a unit of Abu Dhabi National Oil Co., recently acquired five very large crude carriers from Norway-listed tanker company Frontline (FRO.OL) for $590 million, Reuters reported Friday, citing three sources familiar with the matter.According to the report, the company bought three tankers built in 2015 for $120 million each and two 2012-built tankers for $115 million apieceAdnoc Logistics and Services toldit does not comment on rumors and speculations, saying it "continually reviews its fleet requirements and strategic growth opportunities."Frontline did not immediately respond to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

ADX:ADNOCLS$FRO.OL
Research

BOC International Lifts Adnoc Logistics & Services' PT, Keeps at Buy

BOC International on Wednesday raised the price target for energy maritime logistics company Adnoc Logistics & Services (ADX:ADNOCLS) to 7.30 Emirati dirhams from 7.00 dirhams and affirmed its rating at buy.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

ADX:ADNOCLS
Equities

Abu Dhabi Securities Exchange Adds Six Single Stock Futures to Derivatives Market

The Abu Dhabi Securities Exchange Group said it listed six new single stock futures, expanding its derivatives offering to 17 futures and 50 contracts.The new futures are linked to Adnoc Gas (ADX:ADNOCGAS), Adnoc Drilling (ADX:ADNOCDRILL), Adnoc Logistics & Services (ADX:ADNOCLS), Presight AI (ADX:PRESIGHT), Sharjah Islamic Bank (ADX:SIB), and Two Point Zero Group (ADX:2POINTZERO), according to a release dated Monday and filed with the exchange Tuesday.The stock exchange operator will also remove daily price limits on its exchange-traded funds and futures contracts, effective Aug. 3.

ADX:2POINTZEROADX:ADNOCDRILLADX:ADNOCGASADX:ADNOCLSADX:PRESIGHTADX:SIB
Equities

Goldman Sachs Boosts Adnoc Logistics & Services' PT, Keeps at Buy

Goldman Sachs on Tuesday increased the price target for energy maritime logistics company Adnoc Logistics & Services (ADX:ADNOCLS) to 7.50 Emirati dirhams from 6.70 dirhams and affirmed its buy rating.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

ADX:ADNOCLS
Equities

Adnoc Logistics' Crude Tankers Attacked in Strait of Hormuz

Adnoc Logistics & Services (ADX:ADNOCLS) said its crude oil tankers Al Bahyah and Mombasa B were attacked as they passed through the Strait of Hormuz early on Tuesday.The attacks resulted in one death and several injuries, according to a same-day release from the energy maritime logistics company. The vessels suffered significant damage in the attacks. The company said it is working closely with emergency responders and other stakeholders.

ADX:ADNOCLS
Research

Arqaam Capital Raises Adnoc Logistics & Services' PT, Keeps Buy Rating

Arqaam Capital on Monday increased the price target for energy maritime logistics company Adnoc Logistics & Services (ADX:ADNOCLS) to 7.50 Emirati dirhams from 7.00 dirhams and reiterated its buy rating.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

ADX:ADNOCLS
Equities

Adnoc Logistics & Services Awards $900 Million LNG Carriers Contract to China's Jiangnan Shipyard

Adnoc Logistics & Services (ADX:ADNOCLS) awarded a $900 million contract to Chinese shipbuilder Jiangnan Shipyard for four additional liquefied natural gas carriers.The vessels, each with a capacity of 175,000 cubic meters, are slated for delivery in 2029, according to a Friday release. The energy maritime logistics company previously took delivery of six such carriers from Jiangnan Shipyard.Adnoc Logistics & Services noted that the four new vessels, along with eight others being developed at Samsung Heavy Industries and Hanwha Ocean, take its total newbuild liquefied natural gas carrier program to 18 vessels.

ADX:ADNOCLS
Research

HSBC Lifts Adnoc Logistics & Services' PT, Reiterates Hold Rating

HSBC on Wednesday increased the price target for energy maritime logistics company Adnoc Logistics & Services (ADX:ADNOCLS) to 6.30 Emirati dirhams from 6.00 dirhams and confirmed its hold rating.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

ADX:ADNOCLS
Research

China Securities Kicks Off Adnoc Logistics & Services at Buy

China Securities on Sunday started its coverage of energy maritime logistics company Adnoc Logistics & Services (ADX:ADNOCLS) with a buy rating and a price target of 7.28 Emirati dirhams.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

ADX:ADNOCLS
Asia Markets

Emirati Shares End Lower as US-Iran Exchange Fresh Strikes

United Arab Emirates equities kicked off the new trading week in the red as investors adopted a cautious stance following the exchange of fresh strikes between the US and Iran.At the close of Monday trading, the FTSE ADX General Index lost 0.41%, while the DFM General Index declined 0.415%.The US and Iran launched retaliatory strikes over the weekend, accusing each other of violating their ceasefire deal. The tensions, however, de-escalated as both countries agreed to halt their attacks and resume talks in Qatar."All this demonstrates that there's still plenty of risk facing the oil market. Even so, participants appear to be shrugging off these developments, instead focusing on what a continued recovery in oil flows would mean for the global balance. This complacency is odd and clearly leaves significant upside risk if the supply recovery proves slow - or if we see significant re-escalation. While the oil market is technically in oversold territory, momentum appears to still be to the downside," ING said.Back at home, Abu Dhabi's Department of Health signed a memorandum of understanding with Eli Lilly's Eli Lilly Drugstore to explore the development of an artificial intelligence-powered obesity healthcare model and an Alzheimer's disease center of excellence in Abu Dhabi.On the corporate side, Adnoc Logistics & Services (ADX:ADNOCLS) was the Abu Dhabi bourse's most traded stock by value and closed 1.01% in the green. The energy maritime logistics company raised its full-year net profit and revenue guidance on the back of improved material handling volumes in the second quarter.Elsewhere, Mashreqbank (DFM:MASQ) will collaborate with Mastercard to expand its quick remit service globally, offering its customers a quick and secure way of transferring funds abroad through its digital banking channels. Shares of the Dubai-listed lender closed the session 0.78% lower.

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Equities

Adnoc Logistics & Services Lifts FY26 Net Profit, Revenue Outlook

Adnoc Logistics & Services (ADX:ADNOCLS) raised its net profit and revenue guidance for full-year 2026.The energy maritime logistics company now forecasts net profit to grow in the high 60%, compared with a mid-to-high-teens increase forecasted earlier.Meanwhile, the revenue outlook was raised to a low single-digit growth from a low-to-mid single-digit reduction.

ADX:ADNOCLS
Research

Al Ramz Capital Raises Adnoc Logistics & Services PT, Keeps at Overweight

Al Ramz Capital on Tuesday increased its price target for energy maritime logistics company Adnoc Logistics & Services (ADX:ADNOCLS) to 6.97 Emirati dirhams from 6.37 dirhams, while keeping its overweight rating.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

ADX:ADNOCLS
Equities

United Securities Tweaks Adnoc Logistics & Services Rating on Q1 Earnings, Updated Guidance

United Securities LLC revised its rating for Adnoc Logistics & Services (ADX:ADNOCLS) as it took note of the energy maritime logistics company's first-quarter results and upgraded full-year guidance."Based on the current results and guidance, we retain our 2026e revenue forecast of USD 4.7bn and raise our net profit to USD 996mn from USD 745mn. While revenue was broadly in line with expectations, profitability and margins exceeded forecasts. Despite the earnings outperformance, growth risks remain elevated amid ongoing geopolitical escalation. Accordingly, we retain our target price of AED 6.30, implying a limited 5.2% upside from current levels, and revise our rating on the stock to HOLD from BUY," the research firm said Sunday.For the March quarter, the energy maritime logistics company's revenue of $1.08 billion was in line with the research firm's estimate, while its $222 million profit significantly surpassed United Securities' $134 million forecast. For the full year, Adnoc Logistics now expects a low-to-mid single-digit decline in revenue, along with a mid-to-high-teens growth in net profit, compared with the prior projections of a mid-single-digit decrease in revenue and a low-to-mid single-digit net profit growth.

ADX:ADNOCLS
Equities

Update: Market Chatter: UAE's Adnoc Reportedly Continues Energy Exports via Hormuz

(Updates to add statement from Adnoc spokesperson)Abu Dhabi National Oil Co, or Adnoc, is said to be quietly transporting its oil and gas shipments through the Strait of Hormuz using its own fleet by employing so-called dark transit and other practices.Bloomberg News reported Monday, citing tracking data, traders, and people with knowledge of the matter, that the United Arab Emirates-based oil producer continues to export energy despite the Iranian navy and the US warships' blockade by switching off its vessels' tracking transponders while crossing the strait.The vessels include crude and clean petroleum product tankers, and gas carriers controlled by Navig8, which is majority-owned by Adnoc Logistics and Services (ADX:ADNOCLS), the report said.An Adnoc spokesperson said the company does not comment on "the position, movements, or routing of our vessels as a matter of policy."(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

^DFMGI^FADGIADX:ADNOCLS
Equities

Market Chatter: UAE's Adnoc Reportedly Continues Energy Exports via Hormuz

Abu Dhabi National Oil Co, or Adnoc, is said to be quietly transporting its oil and gas shipments through the Strait of Hormuz using its own fleet by employing so-called dark transit and other practices.Bloomberg News reported Monday, citing tracking data, traders, and people with knowledge of the matter, that the United Arab Emirates-based oil producer continues to export energy despite the Iranian navy and the US warships' blockade by switching off its vessels' tracking transponders while crossing the strait.The vessels include crude and clean petroleum product tankers, and gas carriers controlled by Navig8, which is majority-owned by Adnoc Logistics and Services (ADX:ADNOCLS), the report said.Adnoc did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

^DFMGI^FADGIADX:ADNOCLS
Research

HSBC Lifts Adnoc Logistics & Services' PT, Affirms Hold Rating

HSBC on Wednesday increased the price target for energy maritime logistics company Adnoc Logistics & Services (ADX:ADNOCLS) to 6.00 Emirati dirhams from 5.90 dirhams and reiterated its hold rating.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

ADX:ADNOCLS
Equities

BofA Keeps ADNOC Logistics & Services at Buy Post-Q1 Results, Notes 'Still Conservative' FY26 Outlook Upgrade

BofA Global Research affirmed its investment case for ADNOC Logistics & Services (ADX:ADNOCLS) after its first-quarter earnings report, noting the Abu Dhabi-listed energy maritime logistics company's "still conservative" full-year 2026 outlook upgrade."ADNOC L&S reported a 4% EBITDA miss versus consensus, primarily driven by the booking of over US$20mn of expected credit losses, reflecting prudent accounting. The quarter was also impacted by the ongoing regional conflict, which led to lower volumes in the integrated logistics business. The shipping segment, however, performed well, with the majority of vessels employed outside the Strait of Hormuz. With shipping rates for both crude and product tankers running above 1Q averages so far in 2Q, we expect ADNOC L&S to deliver a stronger 2Q26 performance. We reiterate our Buy with a [price objective] of AED7.20 and revise our estimates accordingly," according to a May 15 note.Alongside its first-quarter results, management upgraded the company's 2026 guidance, with revenue reduction now projected at a low-to-mid single-digit versus the previous mid-single-digit year-on-year cut, while the expected EBITDA growth moved to mid-to-high single digits from low-to-mid single-digit. ADNOC Logistics & Services said the updated outlook remains "conservative", based on the assumption of "minimum activity levels" due to regional uncertainty.Meanwhile, the research firm forecasts a 24% EBITDA increase for full-year 2026 amid expectations of shipping spot rates normalizing from recent highs and integrated logistics volumes recovering in the second half of the year. "Medium term, we see ADNOC L&S as a key beneficiary of ADNOC's planned production and production capacity increases, which are not yet reflected in current estimates," BofA added.

ADX:ADNOCLS
Equities

Update: Adnoc Logistics & Services Posts Higher Q1 Profit; Revenue Declines

(Updates to add dividend information)ADNOC Logistics & Services (ADX:ADNOCLS) said Thursday that attributable profit for the first quarter increased, while revenue decreased year over year.Profit attributable to equity holders for the three months ended March 31 was $202.7 million, compared with $180.5 million earlier. EPS moved to $0.03 from $0.02.The Abu Dhabi-listed energy maritime logistics company's revenue was $1.08 billion, compared with $1.18 billion a year ago.Meanwhile, the board resolved to distribute a dividend of 0.0423 dirham per share for the quarter, payable within 30 days from May 13 to shareholders as of May 21.The group raised its guidance for full-year 2026 and now expects mid-to-high-teen growth in net profit and a low-to-mid single-digit decline in revenue, compared with earlier projections for low-to-mid single-digit improvement in net profit and a mid-single-digit dip in revenue.

ADX:ADNOCLS
Equities

Adnoc Logistics & Services Posts Higher Q1 Profit; Revenue Declines

ADNOC Logistics & Services (ADX:ADNOCLS) said Thursday that attributable profit for the first quarter increased, while revenue decreased year over year.Profit attributable to equity holders for the three months ended March 31 was $202.7 million, compared with $180.5 million earlier. EPS moved to $0.03 from $0.02.The Abu Dhabi-listed energy maritime logistics company's revenue was $1.08 billion, compared with $1.18 billion a year ago.The group raised its guidance for full-year 2026 and now expects mid-to-high-teen growth in net profit and a low-to-mid single-digit decline in revenue, compared with earlier projections for low-to-mid single-digit improvement in net profit and a mid-single-digit dip in revenue.

ADX:ADNOCLS
Research

JPMorgan Lowers Adnoc Logistics & Services PT, Keeps at Overweight

JPMorgan on Sunday reduced its price target for energy maritime logistics company Adnoc Logistics & Services (ADX:ADNOCLS) to 7.00 Emirati dirhams from 7.70 dirhams, with an unchanged overweight rating.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

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