Executive Summary
DNO ASA engages in the exploration, development, and production of oil and gas assets in the Middle East and North Africa.
Snowflake
Fundamentals
Good value with proven track record.
Risks
- DNO has significant price volatility in the past 3 months.
Similar Companies
Share Price & News
How has DNO's share price performed over time and what events caused price changes?
Latest Share Price and Events
Market Performance
7 Day Return
-6.8%
OB:DNO
-2.1%
NO Oil and Gas
-1.6%
NO Market
1 Year Return
-31.4%
OB:DNO
-28.6%
NO Oil and Gas
-14.3%
NO Market
DNO underperformed the Oil and Gas industry which returned -28.6% over the past year.
DNO underperformed the Market in Norway which returned -14.3% over the past year.
Share holder returns
| DNO | Industry | Market | |
|---|---|---|---|
| 7 Day | -6.8% | -2.1% | -1.6% |
| 30 Day | -16.0% | -9.6% | -4.9% |
| 90 Day | -30.8% | -19.8% | -8.3% |
| 1 Year | -29.8%-31.4% | -25.6%-28.6% | -9.6%-14.3% |
| 3 Year | 31.6%28.5% | 30.4%16.0% | 36.7%19.1% |
| 5 Year | -35.8%-37.3% | 12.9%-9.3% | 37.0%6.3% |
Price Volatility Vs. Market
How volatile is DNO's share price compared to the market and industry in the last 5 years?
Simply Wall St News
6 days ago | Simply Wall St
Should You Be Excited About DNO ASA's (OB:DNO) 31% Return On Equity?2 weeks ago | Simply Wall St
Do You Like DNO ASA (OB:DNO) At This P/E Ratio?4 weeks ago | Simply Wall St
What Kind Of Shareholder Owns Most DNO ASA (OB:DNO) Stock?Valuation
Is DNO undervalued based on future cash flows and its price relative to the stock market?
>50%
Discount to future cash flow value
Intrinsic Value Based on Future Cash Flows
DNO's share price is below the future cash flow value, and at a moderate discount (> 20%).
DNO's share price is below the future cash flow value, and at a substantial discount (> 40%).
Price Based on Earnings
DNO is good value based on earnings compared to the NO Oil and Gas industry average.
DNO is good value based on earnings compared to the Norway market.
Price Based on Expected Growth
DNO earnings are not expected to grow next year, we can't assess if its growth is good value.
Price Based on Value of Assets
DNO is overvalued based on assets compared to the NO Oil and Gas industry average.
Next Steps
Future Growth
How is DNO expected to perform in the next 1 to 3 years based on estimates from 7 analysts?
-4.9%
Forecasted annual earnings growth
Earnings and Revenue Growth Estimates
Future Annual Growth Analysis
DNO's revenue is expected to grow by 3.4% yearly, however this is not considered high growth (20% yearly).
DNO's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
DNO's revenue growth is positive but not above the Norway market average.
DNO's earnings are expected to decrease over the next 1-3 years, this is below the Norway market average.
DNO's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 1.8%.
Earnings per Share Growth Estimates
Future Return on Equity
DNO is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
Next Steps
Past Performance
How has DNO performed over the past 5 years?
63.3%
Historical annual earnings growth
Earnings and Revenue History
Past Earnings Growth Analysis
DNO has delivered over 20% year on year earnings growth in the past 5 years.
DNO's 1-year earnings growth is negative, it can't be compared to the 5-year average.
DNO's 1-year earnings growth is negative, it can't be compared to the NO Oil and Gas industry average.
Return on Equity
DNO has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
Return on Assets
DNO used its assets more efficiently than the NO Oil and Gas industry average last year based on Return on Assets.
Return on Capital Employed
DNO has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
Next Steps
Financial Health
How is DNO's financial position?
Financial Position Analysis
DNO is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
DNO's long term commitments exceed its cash and other short term assets.
Debt to Equity History and Analysis
DNO's level of debt (80.2%) compared to net worth is high (greater than 40%).
The level of debt compared to net worth has increased over the past 5 years (27.6% vs 80.2% today).
Debt is well covered by operating cash flow (36.9%, greater than 20% of total debt).
Interest payments on debt are well covered by earnings (EBIT is 6.3x coverage).
Balance Sheet
High level of physical assets or inventory.
Debt is covered by short term assets, assets are 1x debt.
Next Steps
Dividend
What is DNO's current dividend yield, its reliability and sustainability?
3.78%
Expected Dividend Yield
Dividend Yield and Payments Analysis
DNO's pays a higher dividend yield than the bottom 25% of dividend payers in Norway (2.74%).
DNO's dividend is below the markets top 25% of dividend payers in Norway (6.45%).
It is too early to tell whether DNO has stable dividend payments.
DNO only just started paying a dividend, it is too early to tell if payments are increasing.
Current Payout to Shareholders
Dividends paid are thoroughly covered by earnings (17.6x coverage).
Future Payout to Shareholders
Dividends after 3 years are expected to be well covered by earnings (4.8x coverage).
Next Steps
Management
What is the CEO of DNO's salary, the management and board of directors tenure and is there insider trading?
1.8yrs
Average management tenure
CEO
Bjørn Dale 0
0.0yrs
Tenure
US$774,100
Compensation
Mr. Bjørn Dale serves as Managing Director of DNO ASA. Mr. Dale served as Secretary at DNO ASA since 2011 and served as its Acting President. He served as Acting Managing Director and General Counsel at DN ...
CEO Compensation Analysis
Insufficient data for Bjørn to establish whether their remuneration is reasonable compared to companies of similar size in Norway.
Bjørn's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
Management Age and Tenure
1.8yrs
Average Tenure
The average tenure for the DNO management team is less than 2 years, this suggests a new team.
Board Age and Tenure
8.7yrs
Average Tenure
66yo
Average Age
The tenure for the DNO board of directors is about average.
Insider Trading
No 3 month open market individual insider trading information.
Recent Insider Transactions
| Entity | Individual |
| Role | Senior Key Executive Deputy Managing Director |
| Shares | 3,000 |
| Max Price | US$17.09 |
| Entity | Individual |
| Role | Vice Chairman Deputy Chairman |
| Shares | 10,000 |
| Max Price | US$18.12 |
Ownership Breakdown
Management Team
Haakon Sandborg (61yo)
Chief Financial Officer
- Tenure: 18.6yrs
- Compensation: US$429.40k
Bijan Mossavar-Rahmani (67yo)
Executive Chairman
- Tenure: 8.2yrs
Chris Spencer
Deputy Managing Director
- Tenure: 0.3yrs
- Compensation: US$404.20k
Bjørn Dale
Managing Director
- Tenure: 0.0yrs
- Compensation: US$774.10k
Kenneth Myhrvold
Chief Petroleum Engineer & Petroleum Technology Department Manager
- Tenure: 0.0yrs
Aslak Steinsvik
Head of Information Technology
- Tenure: 0.0yrs
Nicholas Whiteley
Group Exploration & Subsurface Director
- Tenure: 3.8yrs
- Compensation: US$559.40k
Ute Quinn
General Counsel & Corporate Secretary
- Tenure: 2.6yrs
- Compensation: US$541.20k
Jon Sargeant
Managing Director of DNO Technical Services AS
- Tenure: 1.1yrs
Geir Skau
Human Resources Director
- Tenure: 0.6yrs
Board Members
Drøbak Hirsti (65yo)
Director
- Tenure: 11.8yrs
Lars Takla (75yo)
Deputy Chairman
- Tenure: 0.0yrs
Elin Karfjell (54yo)
Director
- Tenure: 4.2yrs
Bijan Mossavar-Rahmani (67yo)
Executive Chairman
- Tenure: 8.2yrs
Shelley Watson
Director
- Tenure: 9.2yrs
Company Information
DNO ASA's company bio, employee growth, exchange listings and data sources
Key Information
- Name: DNO ASA
- Ticker: DNO
- Exchange: OB
- Founded: 1971
- Industry: Oil and Gas Exploration and Production
- Sector: Energy
- Market Cap: kr12.428b
- Shares outstanding: 1.05b
- Website: https://www.dno.no
Number of Employees
Location
- DNO ASA
- Dokkveien 1
- Aker Brygge
- Oslo
- Oslo
- 250
- Norway
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| DTNO.F | OTCPK (Pink Sheets LLC) | Yes | Ordinary Shares | US | USD | Jan 1992 |
| DNO | OB (Oslo Bors) | Yes | Ordinary Shares | NO | NOK | Jan 1992 |
| NK1A | DB (Deutsche Boerse AG) | Yes | Ordinary Shares | DE | EUR | Jan 1992 |
| 0MHP | LSE (London Stock Exchange) | Yes | Ordinary Shares | GB | NOK | Jan 1992 |
| DNOO | BATS-CHIXE (BATS 'Chi-X Europe') | Yes | Ordinary Shares | GB | NOK | Jan 1992 |
| DTNO.Y | OTCPK (Pink Sheets LLC) | UNSPONSORED ADR | US | USD | Oct 2008 |
Biography
DNO ASA engages in the exploration, development, and production of oil and gas assets in the Middle East and North Africa. Its flagship project is the Tawke field that is located in the Kurdistan region of ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2019/08/19 21:05 |
| End of Day Share Price | 2019/08/19 00:00 |
| Earnings | 2019/06/30 |
| Annual Earnings | 2018/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.