Maurel & Prom Shares Drop 2.5% Despite Rising Brent Prices at $76
The independent hydrocarbon producer is backtracking on Euronext Paris, following a significant increase the previous day. The decline goes against the trend of a sharply rising Brent and a stable SBF 120, placing the stock at the bottom of its sector.
A Retreat that Erases Part of the Rebound, Despite Brent's Surge
Maurel & Prom shares are down 2.28% at €7.915 by midday, even as Brent crude jumps 5.7% to $76.09 a barrel, boosted by renewed strikes between Washington and Tehran and disruptions in the Strait of Hormuz. This movement contrasts with the previous day, when the stock had soared nearly 7% leading the SBF 120 in the wake of the same oil context. This shift reflects profit-taking after the surge, in a market where the stock is now among the biggest losers in the SBF 120, while several other cyclicals are making gains. Over the week, the stock remains up nearly 4%, but it is still down 15% over the month, marked by volatility linked to geopolitical back-and-forth in the Middle East.
Below Short-Term Moving Averages, but Still Above the MM200
At €7.915, the price is below the MM20 (€8.04) and significantly below the MM50 (€9.00), with a 12% gap that materializes the downturn started since mid-June. The MM200, at €7.35, remains 7.7% below the current price, which preserves the underlying bullish trend and leaves the stock up 53% over the year. The RSI at 46 is neutral, with no overbought or oversold configuration, while the support identified at €7.62 frames the lower zone to watch if the decline were to continue.
According to the consensus of analysts surveyed, the stock is trading at about 7.6 times the expected earnings for the current fiscal year and 7.0 times those of the next fiscal year, with projected EPS growth of 9.4% from one year to the next. The next fundamental marker will remain the evolution of the barrel price, whose every shock continues to dictate the volatility of the stock.
