Added to YB: 2023-12-25
Pitch date: 2023-12-23
PKN.WA [bearish]
Orlen S.A.
-67.6%
current return
Author Info
Company Info
Orlen S.A. operates in refining, petrochemical, energy, retail, gas, and upstream business. It engages in the processing and wholesale of refinery products, such as crude oil; production and sale of fuel, oil, chemicals, and petrochemicals, as well as provision of supporting services; production, distribution, and sale of electricity and heat from conventional and renewable energy sources comprising solar photovoltaics, as well as natural gas; trading of electricity; exploration and extraction of mineral resources; exploration, production, and import of natural gas; and trading and storage of gas and liquid gas.
Market Cap
PLN 58.3B
Pitch Price
PLN 55.85
Price Target
N/A
Dividend
8.26%
EV/EBITDA
1.67
P/E
15.56
EV/Sales
0.22
Sector
Oil, Gas and Consumable Fuels
Category
dividend
Polish highways and the art of selling a stock
ORLEN: Compelling Polish co. at 1.5-2x PE, 10% div. Invested & documented, shares soared. Pre-election price drop, opposition win, proposed tax hurt $PKN. Exited w/ 14% return (9% div, 5% apprec). Selling=art: thesis fail/play out, better oppty. Sold given pol risk. Doc & revisit key.
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