Sberbank increased its estimate of the value of Rosneft shares by almost 20% from 550 rubles. Up to 655 rubles Such data comes from the report of Sber’s institutional investment block Sber CIB dedicated to the Russian oil and gas market in August. At the same time, the bank continued its “buy” recommendation for the company’s securities.
Sber analysts are also positive about the future of shares of Rosneft and other companies in the industry. Thus, the dividends of an oil company in 2023 may exceed 70 rubles. 13% dividend yield per share, according to the report. In the June report, the dividend rate for the year was estimated at 52 rubles per share with a 12% dividend yield. The bank also named Rosneft as the only company in the Russian oil and gas sector that could avoid a decline in EBITDA and increase net profit in 2023.
The estimates of analysts from other organizations on the papers of the oil giant are also above the 600 ruble mark. Bank “Renaissance Capital” estimates the cost of shares of “Rosneft” at the level of 640 rubles. per paper, BCS Global Markets – 610 rubles.
Earlier, Rosneft announced the completion of the final dividend payment for the 2022 results. Its dimensions are 17.97 rubles. for a security. At the same time, the total amount of Rosneft dividends per share for 2022 amounted to 38.36 rubles. The company pays dividends twice a year and allocates 50% of the company’s net profit according to IFRS for these purposes. The value of the total dividends for 2022 was the second largest in the history of Rosneft. In this framework, the total number of Rosneft shareholders has increased by about 4.5 times in the last two years, and their total number, according to the company, by the end of the first half of the year, reached about 900 thousand people.
Analysts also noted in their material that the taxation risk of the industry has increased significantly over the past few quarters, so the MET rate is expected to increase in 2024. According to Valery Andrianov, a specialist in the InfoTEK analytical center, the tax burden on the industry today is one of the highest in the Russian economy, reaching 78%. Thus, the tax burden on the sector has been increased by making 26 changes in the basic parameters of the country’s tax legislation in the last 3.5 years.
“As a result of the changes adopted in July 2023 alone to reduce the size of the fuel damper by 50% and increase the load on oil production, the total amount withdrawn from the sector in 2023-2026 will be 1 trillion rubles, he said.
At the same time, the tax burden in the oil industry is many times greater than in other industries. According to Andrianov, when the tax burden is increased to a level comparable to the oil sector, companies in such sectors will bring about 4 trillion rubles of additional income to the Russian budget. within the year.