Added to YB: 2026-03-05
Pitch date: 2026-03-03
BNOR.OL [bullish]
BlueNord ASA
+21.25%
current return
Author Info
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Company Info
BlueNord ASA, an oil and gas company, produces and develops resources that support the energy transition towards net zero.
Market Cap
NOK 1.4B
Pitch Price
NOK 384.65
Price Target
894.00 (+92%)
Dividend
N/A
EV/EBITDA
3.41
P/E
28.79
EV/Sales
2.02
Sector
Oil, Gas and Consumable Fuels
Category
dividend
The Northern European Cash Flow Machine and Your Ultimate Gas Price Hedge - BlueNord ASA, $NOR
NOR (new position): Danish North Sea E&P at 14x P/E, 30%+ fwd div yield. 36.8% non-op stake in DUC (TotalEnergies operator). Q4 prod record 42.4k boepd, $186M EBITDA (+40% QoQ), $167M OCF. Tyra redevelopment complete=harvest phase. 50% gas hedged ~35 EUR/MWh (downside protection), 50% spot exposure (upside if TTF spikes). Q4 div NOK 42.84/sh (8% qtrly yield), ex-date 3/24/26. $13/boe lifting costs, zero dilution risk. Risks: single-asset DUC dependence, TTF crash, resource depletion. PT NOK 894 (+66%), fair P/E 19 vs 14 current.
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