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19 stories mentioning REP.MC

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Equities

Repsol to Sell Stake in EUR849 Million Spanish Renewable Portfolio to UAE's Masdar

Repsol (REP.MC) agreed to sell a 49.99% stake in a renewable energy portfolio in Spain to Abu Dhabi Future Energy Co., d/b/a Masdar, in a deal that values the portfolio at 849 million euros.The 705-megawatt portfolio comprises operational 13 wind farms and six solar parks, according to a Thursday release. The Spanish oil and gas company said the assets also include more than 565 megawatts of potential hybridization pipeline growth through wind, solar and battery storage.The deal is expected to be completed by the end of the fourth quarter, subject to regulatory approvals.Abu Dhabi National Energy Co., (ADX:TAQA) d/b/a Taqa, holds a 43% stake in renewable energy company Masdar.

ADX:TAQA$REP.MC
Research

AlphaValue/Baader Europe Raises Repsol to Buy, Hikes PT

AlphaValue/Baader Europe on Wednesday upgraded Spanish oil and gas company Repsol (REP.MC) to buy from add and increased its price target to 30.80 euros from 25.50 euros.(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)

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Equities

Repsol Rating Climbs as AlphaValue/Baader Europe Revises Forecasts on Commodity Price Changes

Repsol's (REP.MC) rating was upgraded as AlphaValue/Baader Europe adjusted its earnings forecast for the Spanish oil and gas giant on commodity price movements."We have nudged FY26, as the upgraded commodity deck feeds through to Upstream realised prices, with Brent at $95/bbl (vs $62 prior) and [Title Transfer Facility] at EUR55/MWh (vs EUR38)," analysts said Tuesday. "Volume ramp-up across Brazil, the U.S. and key projects supports EBIT, though the uplift is almost entirely absorbed by elevated cash capex (EUR4.9bn gross) and a 44.3% effective tax rate. We have trimmed FY27, as Brent eases to $72/bbl (vs $63) and TTF to EUR47/MWh (vs (Euro)40), with refining margins tightening."As such, the 2026 EPS estimate increased by 1.51% to 3.84 euros, while the 2027 forecast was cut by 6.57% to 3.26 euros.The rating was raised to buy from add with a price target of 30.8 euros.

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Equities

HSBC Upgrades Repsol to Buy Rating, Boosts PT

HSBC on Monday upgraded oil company Repsol (REP.MC) to buy from hold and increased its price target to 25.50 euros from 22.00 euros.(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)

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Equities

Santos Announces First Oil at US Development Co-owned With Repsol

Australia-listed oil and gas company Santos announced first oil from the Pikka phase one development at the North Slope in Alaska, US.Santos holds a 51% interest in the Pikka unit and serves as the project's operator. Spanish energy company Repsol (REP.MC) owns the remaining 49%.

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Equities

Repsol Price Target Increases as Berenberg Ups Estimates on Strong Margins; Buy Rating Affirmed

Repsol's (REP.MC) consistently strong refining margins will likely boost distributions in 2026, Berenberg said as it raised its estimates and price target for the Spanish oil and gas giant."Repsol's flexible refining system has enabled it to increase production of key products and should ensure that it achieves above-consensus margins through 2026, in our view," analysts said Tuesday. "The Upstream business is on track to meet FY26 guidance and to benefit from the strong commodity price environment. We increase our 2026 [cash flow from operations] estimate by 15%, resulting in our 2026 buyback assumption increasing by EUR300m (43%). Our 2026 EPS estimates are increased by 12%."The price target edged up to 28 euros from 27 euros, with an affirmed buy rating.In the past two months, the company's total refining margin remained "relatively stable," averaging at $30 per barrel of oil in March and $27/bbl in April, analysts added.

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Equities

Update: Market Chatter: Repsol to Sell 49% Stake in Spanish Renewables Portfolio to Masdar

(Updates to add Repsol's statement)Repsol (REP.MC) will sell a 49% interest in a 706-megawatt portfolio of renewable energy assets in Spain to Abu Dhabi Future Energy Co., d/b/a Masdar, Spanish newspaper Cinco Días reported Monday, citing unnamed sources.The Spanish oil and gas company expects to sign the agreement with the renewable energy company in the coming weeks, according to the report.The portfolio, dubbed the Minerva project, is valued at 850 million euros and comprises 13 wind farms and six solar parks.Repsol toldit has no comment on Cinco Días' report.(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.)

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Equities

Market Chatter: Repsol to Sell 49% Stake in Spanish Renewables Portfolio to Masdar

Repsol (REP.MC) will sell a 49% interest in a 706-megawatt portfolio of renewable energy assets in Spain to Abu Dhabi Future Energy Co., d/b/a Masdar, Spanish newspaper Cinco Días reported Monday, citing unnamed sources.The Spanish oil and gas company expects to sign the agreement with the renewable energy company in the coming weeks, according to the report.The portfolio, dubbed the Minerva project, is valued at 850 million euros and comprises 13 wind farms and six solar parks.Repsol 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.)

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Equities

Repsol Kept at Outperform as RBC Notes 'Strong' Refining Margins

RBC Capital Markets kept Repsol (REP.MC) at outperform, noting the Spanish oil and gas giant looks well placed to capitalize on the current refining environment."Refining margin capture has been a key concern over recent weeks, with investors worried about crude availability, particularly for coastal refiners. Repsol's indicator margin is less relevant in these volatile times, but importantly, [realized] refining margins remain strong, and look set to remain strong through the summer. In 1Q, the refining margin premium ($5.7/bbl) was higher than we had seen in recent years (highest in 1Q23 at $4/bbl), but management have noted a particularly strong start to 2Q26, with realised refining margins well above $20/bbl in April. Repsol's complex refining system is also well set up to take advantage of crude spreads (light-heavy, sweet-sour, etc.), which should support refining margins and be a relative advantage to peers," analysts said Thursday.According to the research firm, this refining strength and anticipated upstream growth offer "material upside" for Repsol's capital distribution. As such, the research firm now projects 1.5 billion euros in buybacks for the company, noting the figure is more than double the company's current guidance.On the financial front, RBC updated its estimates, including higher EPS forecasts for full-year 2026 through 2028, following Repsol's first-quarter results. The revised model accounts for a $10 per barrel refining indicator and a $5/bbl realized premium for 2026, alongside other adjustments.The stock has a price target of 32 euros.

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Research

Goldman Sachs Upgrades Repsol to Buy, Lifts PT

Goldman Sachs on Friday upgraded Spanish oil company Repsol (REP.MC) to buy from neutral and increased its price target to 25 euros from 24 euros.(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)

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Equities

Repsol Rating Moves Up as AlphaValue/Baader Europe Raises Forecasts on Stronger Commodity Environment

Repsol's (REP.MC) rating was upgraded at AlphaValue/Baader Europe as the research firm increased its earnings forecast for the Spanish oil and gas giant on higher commodity prices.The 2026 EPS estimate was lifted on Wednesday by 48.3% to 3.79 euros on the back of AlphaValue/Baader's higher Brent and Title Transfer Facility deck flowing through to upstream realized prices and gas margins.The rating was raised to add from reduce with a price target of 25.1 euros.

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Equities

Fitch Affirms Repsol's Rating; Outlook Stable

Fitch on Tuesday affirmed the BBB+ long-term issuer default rating of Repsol (REP.MC), citing the energy company's very low EBITDA net leverage.The rating agency said it expects the metric to remain below 1x until 2030 despite its conservative oil and gas price assumptions, substantial capex, and shareholder distributions. It also anticipates that the Spanish company will continue strong operations in its core oil and gas operations while sustaining investment in low-carbon initiatives.The outlook on the rating is stable.

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Equities

Market Chatter: Spanish Fuel Wholesaler Hatta Energy Alleges Market Abuse by Repsol, BP, Moeve

Spanish refined fuels wholesaler Hatta Energy reportedly accused Repsol (REP.MC), BP (BP.L) and Moeve of engaging in "coordinated corporate behaviors" that hamper competition in Spain's hydrocarbon wholesale distribution market.In its complaint filed with the European Commission's competition watchdog, as reported by Bloomberg News on Friday, Hatta alleged that the companies, with government support, are setting up a "de facto cartel" through regulatory and logistical barriers and refusal to supply the wholesaler with fuel.The complaint, which also named national fuel logistics infrastructure operator Exolum and the Spanish state, claimed that Hatta has not received the "reliable operator" classification that exempts it from a special tax payment.BP, Repsol and Moeve 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.)

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Equities

Spanish Competition Watchdog Closes Investigation on BP, Repsol, Moeve

Spain's National Commission for Markets and Competition terminated its investigation of BP (BP.L), Repsol (REP.MC), and Moeve, formerly Cepsa, for alleged price-fixing agreements and abuse of dominant market position.The regulator decided not to launch sanctions proceedings against the oil companies after finding no evidence they shared information or colluded to boost their market share as fuel prices rose after Russia invaded Ukraine in 2022, according to a Tuesday release.However, the watchdog fined Repsol 20.5 million euros in January in a separate case for abusing its dominant position in the wholesale market for diesel distribution to gas stations.

$BP.L$REP.MC
Equities

Repsol Reaches Deal to Boost Oil Production in Venezuela

Repsol (REP.MC) will increase oil production in Venezuela and regain control of an oil asset in the country as part of a deal with the government.The agreement with the Venezuelan Ministry of Hydrocarbons and the state-owned Petróleos de Venezuela will allow Repsol to reassume operational control of the Petroquiriquire oil asset and guarantee payment mechanisms, according to a Thursday release.The Spanish oil and gas giant's gross oil production in Venezuela stands at 45,000 barrels per day, mainly from the Petroquiriquire joint venture, in which it holds a 40% stake. Petróleos de Venezuela owns the remaining 60%.Repsol plans to increase production in the country by 50% within 12 months and to triple it over the next three years. Repsol said the deal is within the scope of a license issued by the US administration.

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Equities

Market Chatter: Spain's Repsol Nears Deal to Regain Control Over Venezuelan Oil Assets

Repsol (REP.MC) is set to regain operational control of its oil assets in Venezuela under a new agreement with the South American country's government, with an announcement expected as soon as Thursday, London's Financial Times reported the same day.Under the deal, the Spanish energy group plans to triple output from its Venezuelan operations within a span of three years, a person familiar with the matter told the newspaper.Repsol will also include the creation of a "guaranteed" payment mechanism aimed at avoiding past issues concerning the Venezuelan government's failure to meet payment obligations, the report added.Repsol 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.)

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Equities

Dolphin Drilling Upsizes Share Offering to $62.5 Million

Dolphin Drilling (DDRIL.OL) increased its share offering to $62.5 million from the target range of $50 million to $55 million, citing strong investor demand.Directors of the offshore drilling contractor allocated 236 million shares at 2.50 Norwegian kroner apiece upon completion of the offering, according to a Wednesday release.Net proceeds from the offering will be used to repay the $7.5 million bridge loan secured as part of amendments to existing credit facilities. Funds will also be directed to preparations of the Borgland Dolphin semi-submersible drilling rig for a contract with Spanish energy group Repsol (REP.MC), working capital, and general corporate expenditures.Arctic Securities, DNB Bank's DNB Carnegie, and Fearnley Securities are the joint bookrunners of the offering.

$DDRIL.OL$REP.MC
Equities

Berenberg Lowers Repsol Estimates, Price Target After Q1 Update

Berenberg cut its financial forecasts and price target for Repsol (REP.MC) after the Spanish energy group's first-quarter trading update."Repsol reported its Q1 2026 trading update on 9 April with a solid upstream performance offset by slightly weak numbers in refining - spot margins are volatile and the outlook here is likely to be key for Repsol over the coming months, in our view," analysts said Monday. "Overall, we reduce our Q1 group EBIT forecast to EUR1.3bn (5% ahead of Bloomberg) and our Q1 adjusted net income to EUR875m (5% behind Bloomberg). We take a slightly more cautious outlook on near-term refining margins and make some other modelling adjustments."Over 2026 to 2028, adjusted EPS estimates were reduced by 20.6%, 16.7%, and 18.6%, respectively. Projections for dividend per share were lowered by 4.7%, 4.5%, and 4.5%.Ahead of first-quarter earnings on April 30, the price target was cut to 27 euros from 29 euros, with an unchanged buy rating.

$REP.MC
Equities

RBC Tweaks Estimates, Price Target for Repsol After Q1 Trading Update

RBC Capital Markets adjusted its earnings forecasts and price target for Repsol (REP.MC) amid a model update to reflect the Spanish energy group's first-quarter trading update and the research firm's revised commodity price deck."Repsol's trading update showed modest signs of downstream strength, with an average $10.9/bbl refining indicator, similar to 4Q, although this was clearly driven by a particularly strong March. Repsol notes refining margins in April have been volatile but have averaged ~$11.5/bbl (this is net of all variable costs, including transport), well below where we see prevailing margins. At a headline level, this could be seen as disappointing given where distillate cracks are on the screen; however, we think this reflects physical oil spreads, as well as timing effects between crude and product pricing. We've seen a number of 'messy' 1Q updates from the US refiners and XOM also over recent days, and Repsol as a coastal refiner may be more impacted by weaker capture than those in the US taking crude from local sources. We continue to see refining margins remaining structurally above mid-cycle levels through 2026 and into 2027, given tightness in distillate inventories, and see Repsol as a key beneficiary of this trend. In the upstream, production volumes were disappointing relative to our estimates, with some one-off impacts weighing on results," according to an April 10 note.As such, the research firm revised its EPS estimates for full-year 2026 through 2028 and cut its first-quarter 2026 adjusted net income forecast to 985 million euros from 1.09 billion euros, 2% lower than market expectations.Meanwhile, analysts lifted their price target for the outperform-rated stock to 32 euros from 29 euros. The upgrade accounts for the research firm's latest commodity price deck, which integrates higher 2026 to 2027 oil price forecasts and an $80 per barrel long-term Brent assumption.

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