7 stories mentioning SASE:2223
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Citi on Wednesday increased the price target for base oil producer Saudi Aramco Base Oil Co. (SASE:2223), d/b/a Luberef, to 146 Saudi riyals from 130 riyals, while maintaining 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)
Saudi Aramco Base Oil Co. (SASE:2223), d/b/a Luberef, said Sunday that Chairman Ibrahim Al-Buainain stepped down, effective May 21, due to personal reasons.The Tadawul-listed base oil producer will appoint Yasser Mufti as chairman to complete the current board's term, which ends on Aug. 14, 2027, subject to the general assembly's approval. Mufti serves as the executive vice president of products and customers at Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco.
HSBC on Wednesday increased the price target for base oil producer Saudi Aramco Base Oil Co. (SASE:2223), d/b/a Luberef, to 145.00 Saudi riyals from 118.00 riyals 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://www..com/contact-us)
The Tadawul All Share Index started the week 0.76% higher as investors assessed Saudi Arabia's latest economic data and earnings reports.Official preliminary data from Saudi Arabia's General Authority for Statistics showed that the industrial production index dropped 14.1% year over year in March. Month over month, industrial production fell 22.3%."The index of oil activities decreased by 20.0% in March 2026 compared to the same month of the previous year, while the index of non-oil activities remained stable at a level close to its performance in the same period of the previous year. The results also indicated that the index of oil activities decreased by 30.8% while the index of non-oil activities increased by 1.4% compared to February 2026," the statistics agency said in its report.Speaking of economic releases, the local calendar will see the release of the kingdom's inflation and wholesale prices data for April on Thursday.In other news, investors are focusing on the latest updates regarding the operations of the Strait of Hormuz and the Middle Eastern conflict. Reuters reported that the US is waiting for Iran's response regarding its proposal to end the war.Back at home, a slew of earnings dominated headlines as several companies published their first-quarter financial statements. The bourse's biggest company, Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, ticked up 0.81% as it posted a 25.553% increase in net profit and a 6.766% climb in revenue.Saudi Aramco Base Oil Co. (SASE:2223), d/b/a Luberef, also posted higher attributable profit and revenue in the March quarter. Acwa Power (SASE:2082), however, reported a decline in its profit for the three months ended March 31.Acwa Power closed 1.65% higher, while Luberef shares closed 0.17% lower.
Saudi Aramco Base Oil Co. (SASE:2223), d/b/a Luberef, said Sunday that net profit and revenue for the first quarter of 2026 increased year over year.Net profit attributable to shareholders of the issuer for the three months ended March 31 was 258 million Saudi riyals, compared with 221.5 million riyals earlier. EPS moved to 1.53 riyals from 1.32 riyals.The Tadawul-listed base oil producer's revenue was 2.16 billion riyals, compared with 2.13 billion riyals a year ago.
Citi on Wednesday increased its price target for base oil producer Saudi Aramco Base Oil Co. (SASE:2223), d/b/a Luberef, to 130 Saudi riyals from 125 riyals, while maintaining 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)
BSF Capital on Thursday downgraded base oil producer Saudi Aramco Base Oil Co. (SASE:2223), d/b/a Luberef, to hold from buy and raised its price target to 115.00 Saudi riyals from 107.00 riyals.(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)