Petrotal Corporation NPV (DI) (PTAL)

Sector:

Energy Producers

Index:

FTSE AIM All-Share

49.00p
   
  • Change Today:
    -0.50p
  • 52 Week High: 50.25
  • 52 Week Low: 37.75
  • Currency: UK Pounds
  • Shares Issued: 915.25m
  • Volume: 332,822
  • Market Cap: £448.47m

PetroTal confirms dividend, maintains production guidance

By Josh White

Date: Wednesday 13 Sep 2023

LONDON (ShareCast) - (Sharecast News) - PetroTal confirmed in an update on Wednesday that it would distribute a dividend payment of $23m on 15 September.
The AIM-traded firm said the payment, corresponding to 2.5 US cents per share, would be directed to shareholders on the record as at 31 August.

At the current trading price of 58 cents per share, it would result in a 4.3% quarterly yield or an annualised yield of 17.2%.

The company said the upcoming dividend payout would make for a cumulative total of around $37m disbursed in dividends in 2023 thus far.

PetroTal also noted that it had temporarily halted its share buyback programme on 25 August, to facilitate the clearance of purchased shares in its share registry.

Buybacks had since resumed on 5 September, with another temporary suspension anticipated around the end of the quarter.

The total number of shares repurchased in July and August amounted to 3,886,822, representing a value of $2.3m to shareholders.

On the production front, PetroTal reported that its output for July and August averaged 11,552 barrels and 12,651 barrels of oil per day, respectively.

The adjustment in production was put down to the company's strategy of managing the reduced barge movement to and from Brazil, due to the expected low river dry season.

Still, PetroTal remained optimistic about making up for the volume deficit if river conditions normalised in the upcoming fourth quarter.

The company continued to stand by its annual production guidance, which was projected to be in the range of 14,000 to 15,000 barrels of oil per day.

"Currently the contracted PetroTal drilling rig is moving to the west part of the Bretana field where the new L2 West platform is expected to be delivered in September," the company's board said in its statement.

"Crews will work for about a month to complete the installation of the L2 West platform with drilling commencement of well 16H to occur in early November."

At 1039 BST, shares in PetroTal were up 0.89% at 45.4p.

Reporting by Josh White for Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

PTAL Market Data

Currency UK Pounds
Share Price 49.00p
Change Today -0.50p
% Change -1.01 %
52 Week High 50.25
52 Week Low 37.75
Volume 332,822
Shares Issued 915.25m
Market Cap £448.47m

PTAL Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
70.92% above the market average70.92% above the market average70.92% above the market average70.92% above the market average70.92% above the market average
47.37% above the sector average47.37% above the sector average47.37% above the sector average47.37% above the sector average47.37% above the sector average
Price Trend
65.27% above the market average65.27% above the market average65.27% above the market average65.27% above the market average65.27% above the market average
75.31% above the sector average75.31% above the sector average75.31% above the sector average75.31% above the sector average75.31% above the sector average
Income
61.36% above the market average61.36% above the market average61.36% above the market average61.36% above the market average61.36% above the market average
33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average
Growth
16.68% above the market average16.68% above the market average16.68% above the market average16.68% above the market average16.68% above the market average
24.53% below the sector average24.53% below the sector average24.53% below the sector average24.53% below the sector average24.53% below the sector average

PTAL Dividends

  Latest Previous
  Q4 Q3
Ex-Div 28-Feb-24 29-Nov-23
Paid 15-Mar-24 15-Dec-23
Amount 2.00¢ 2.00¢

Trades for 17-Apr-2024

Time Volume / Share Price
16:21 20,532 @ 48.73p
16:18 30,000 @ 48.70p
16:06 9,988 @ 48.70p
15:51 30,000 @ 49.00p
15:49 5,609 @ 49.00p

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