11 stories mentioning ADX:ADNOCLSUpdated 8d ago
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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://www..com/contact-us)
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.
(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.)
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.)
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://www..com/contact-us)
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.
(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.
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.
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://www..com/contact-us)
Citi on Wednesday increased the price target for energy maritime logistics company Adnoc Logistics & Services (ADX:ADNOCLS) to 7.30 Emirati dirhams from 6.90 dirhams and kept 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://www..com/contact-us)
Arqaam Capital on Tuesday decreased the price target for energy maritime logistics company Adnoc Logistics & Services (ADX:ADNOCLS) to 7 Emirati dirhams from 7.23 dirhams, while keeping 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://www..com/contact-us)
