Rosneft shares on the Moscow Stock Exchange rose to their highest level since December 2021, as evidenced by transaction data. The oil company’s share price reached 605 rubles per share. Thus, the company’s capital exceeded 6.4 trillion rubles.
Rosneft noted that this figure is the highest since January 2022.
“Overall, Rosneft shares are among the most dynamically growing stocks on the Russian market. The company stated that its values on the Moscow Stock Exchange have increased 2.4 times since September 2022.
According to experts, the main reasons for the increase in securities prices were the increase in world oil prices and the hopes of obtaining high dividends from the company.
In their report on the oil market on Friday, Sinara Bank analysts singled out Rosneft among companies in the sector that foresee the highest growth potential in its share price. Experts expect the value of the oil company’s shares to increase by 19% to 665 rubles per share, and the dividend yield by the end of 2023 to increase by 11%.
Analysts’ estimates from other banks and institutions regarding the oil giant’s securities are also significantly higher than the current quotation level. Thus, at the end of September, analysts of the investment company BKS World of Investments noted that the price of Rosneft securities is expected to be 760 rubles per share. Renaissance Capital Bank predicts that the price of Rosneft shares will be up to 640 rubles per share, Sber CIB – up to 655 rubles.
Analysts characterize the implementation of the company’s flagship project Vostok Oil as one of the main factors of investment attractiveness. Another factor in the investment attractiveness of the company’s shares is the expectation of high dividends based on both 2023 and 2024 results.