Rosneft shares on the Moscow Stock Exchange climbed to their highest level since December 2021, a move reflected in trading data. The oil giant’s stock touched 605 rubles per share, lifting its market capitalization beyond 6.4 trillion rubles.
This milestone marks the peak not seen since January 2022, underscoring a sustained rally in Rosneft’s equity.
Analysts note that Rosneft shares have emerged as among the most dynamically advancing stocks on the Russian market. The company also stated that its Moscow-listed value has grown roughly 2.4 times since September 2022, a strong performance in the current phase of market activity.
Market observers attribute the rally to a combination of higher global oil prices and expectations of attractive dividend payouts from Rosneft.
In a Friday oil market update, Sinara Bank analysts singled out Rosneft as one of the sector’s leaders with notable upside potential. They project a 19% rise in Rosneft’s share price to about 665 rubles and an 11% dividend yield by the end of 2023.
Projections from other financial institutions are also notably higher than today’s quotation. At the close of September, analysts from BKS World of Investments forecast a price near 760 rubles per Rosneft share. Renaissance Capital Bank pegs the target at 640 rubles, while Sber CIB suggests as much as 655 rubles.
A central driver of Rosneft’s appeal is progress on the flagship Vostok Oil project, viewed as a major factor supporting investment attractiveness. In addition, investors anticipate robust dividends based on both 2023 and 2024 results, reinforcing confidence in the stock’s longer-term income potential.