January 31, 2023

Citigroup Remains a Buy on Beach Energy Limited (BEPTF)

In a report released today, James Byrne CFA from Citigroup maintained a Buy rating on Beach Energy Limited (BEPTF – Research Report), with a price target of A$2.20. The company’s shares closed last Wednesday at $1.12.

Beach Energy Limited has an analyst consensus of Moderate Buy, with a price target consensus of $1.36, representing a 21.97% upside. In a report released on January 19, UBS also maintained a Buy rating on the stock with a A$1.95 price target.

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Based on Beach Energy Limited’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $0. In comparison, last year the company had a net profit of $0

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Beach Energy Ltd. engages in the exploration, development and production of oil and gas. It operates through following business segments: Cooper Basin, Other Australia, and International. The Cooper Basin segment represents oil and gas sales from Australian production. The Other Australia segment includes the Group’s interest in all on-shore and off-shore production and exploration tenements within Australia. The International segment consists of the Group’s interests in all areas outside Australia. The company was founded by Reg Sprigg in 1961 and is headquartered in Glenside, Australia.

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