SBM Offshore Shares Hit New All-Time High, Boosted by Oil Prices
SBM Offshore has risen by 1.8% this Thursday to 35.14 euros, reaching a new all-time high during the session. The Dutch specialist in floating infrastructure for the oil and gas industry has now increased by more than 43% over three months and nearly 79% over the past year.
SBM Offshore shares reached a new all-time high during the session, surpassing the previous record of 35.56 euros set on March 26th. This performance comes on a day marked by a surge in Brent crude, which climbed to around $108 a barrel following Tehran's denial of a ceasefire and the continuation of hostilities between Washington and Iran. The geopolitical escalation in the Middle East maintains tension on energy prices, a situation that mechanically benefits offshore oil service providers. Meanwhile, the CAC 40 fell by 1.25% during the session to 7,881 points, and the SBF 120 dropped by 1.26%. SBM Offshore is thus moving against the general trend of the Paris market. In the sector, Shell PLC also saw a rise of nearly 3%, indicating that oil-related stocks are benefiting from this renewed nervousness.
The company's general assembly is scheduled for April 15th, followed by the publication of first-quarter revenue on May 7th. These two events could be the next catalysts for the stock.
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From a technical standpoint, SBM Offshore's stock price is now significantly above its main moving averages: the 50-day moving average is at 30.67 euros and the 200-day at 23.71 euros, indicating a well-established upward momentum over the past several months. The breaking of the resistance identified at 34.46 euros is a notable signal: this threshold, which coincided with the upper Bollinger band (34.34 euros), has now been surpassed, which may indicate an acceleration of the trend.
The RSI stands at 59, a level that reflects buying pressure without immediately signaling an overbought zone. The monthly volatility of the stock remains contained at 15.2%, while its particularly low beta (0.04) confirms a significant decorrelation with the overall market. This characteristic partly explains the stock's ability to progress while major European indices face sell-offs linked to geopolitical uncertainties.
We have increased our revenue guidance versus the initial baseline and these results highlight the resilience of our business model.
Risks mentioned
Environnement de marché de plus en plus complexe et volatil mentionné par le CEO
Fin de la fabrication des topsides de FPSO Jaguar réduisant sa contribution au chiffre d'affaires
Attribution finale du contrat Longtail soumise à approbations gouvernementales et décision finale d'investissement du client
Opportunities identified
Attribution des contrats FPSO SEAP I et SEAP II par Petrobras renforçant le backlog
Commande d'une 13e coque Fast4Ward portée par de solides perspectives du marché FPSO
Backlog pro-forma record de 35,6 milliards de dollars offrant une visibilité jusqu'en 2050
Outlook / guidance
Expected revenue: 7 600 millions de dollars
Expected EBITDA: 1 900 millions de dollars
Management commentary: The Company's 2026 Directional revenue guidance is increased to around US$7.6 billion, of which around US$2.4 billion is expected from the Lease and Operate segment and around US$5.2 billion from the Turnkey segment.
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
