MISX:LKOH

Stock Analysis Report

Executive Summary

PJSC LUKOIL, together with its subsidiaries, engages in exploration, production, refining, marketing, and distribution of oil and gas.

Snowflake

Fundamentals

Flawless balance sheet with proven track record and pays a dividend.


Similar Companies

Share Price & News

How has PJSC LUKOIL's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

5.8%

LKOH

1.5%

RU Oil and Gas

1.5%

RU Market


1 Year Return

23.4%

LKOH

19.1%

RU Oil and Gas

16.2%

RU Market

Return vs Industry: LKOH exceeded the Russian Oil and Gas industry which returned 19.1% over the past year.

Return vs Market: LKOH exceeded the Russian Market which returned 16.2% over the past year.


Shareholder returns

LKOHIndustryMarket
7 Day5.8%1.5%1.5%
30 Day5.1%0.7%-0.3%
90 Day10.9%6.9%4.2%
1 Year29.5%23.4%28.4%19.1%24.6%16.2%
3 Year120.2%86.4%98.4%65.4%66.9%40.9%
5 Year291.7%189.6%168.4%107.1%164.7%107.9%

Price Volatility Vs. Market

How volatile is PJSC LUKOIL's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is PJSC LUKOIL undervalued compared to its fair value and its price relative to the market?

5.9%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: LKOH (RUB5768) is trading below our estimate of fair value (RUB6128.65)

Significantly Below Fair Value: LKOH is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: LKOH is poor value based on its PE Ratio (6x) compared to the Oil and Gas industry average (5.9x).

PE vs Market: LKOH is good value based on its PE Ratio (6x) compared to the Russian market (6.6x).


Price to Earnings Growth Ratio

PEG Ratio: LKOH's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: LKOH is overvalued based on its PB Ratio (1x) compared to the RU Oil and Gas industry average (0.8x).


Next Steps

Future Growth

How is PJSC LUKOIL forecast to perform in the next 1 to 3 years based on estimates from 13 analysts?

-1.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: LKOH's earnings are forecast to decline over the next 3 years (-1.6% per year).

Earnings vs Market: LKOH's earnings are forecast to decline over the next 3 years (-1.6% per year).

High Growth Earnings: LKOH's earnings are forecast to decline over the next 3 years.

Revenue vs Market: LKOH's revenue (0.9% per year) is forecast to grow slower than the Russian market (4.2% per year).

High Growth Revenue: LKOH's revenue (0.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: LKOH's Return on Equity is forecast to be low in 3 years time (12.1%).


Next Steps

Past Performance

How has PJSC LUKOIL performed over the past 5 years?

19.2%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: LKOH's earnings have grown by 19.2% per year over the past 5 years.

Accelerating Growth: LKOH's earnings growth over the past year (36.2%) exceeds its 5-year average (19.2% per year).

Earnings vs Industry: LKOH earnings growth over the past year (36.2%) underperformed the Oil and Gas industry 37.8%.


Return on Equity

High ROE: LKOH's Return on Equity (17.4%) is considered low.


Return on Assets

ROA vs Industry: LKOH has a higher Return on Assets than the Oil and Gas industry average last year.


Return on Capital Employed

ROCE Improving: LKOH has significantly improved its Return on Capital Employed over the past 3 years.


Next Steps

Financial Health

How is PJSC LUKOIL's financial position?


Financial Position Analysis

Short Term Liabilities: LKOH's short term assets (RUB1,586.4B) exceeds its short term liabilities (RUB1,197.0B)

Long Term Liabilities: LKOH's short term assets (1,586.4B) exceeds its long term liabilities (826.4B)


Debt to Equity History and Analysis

Debt Level: LKOH's debt to equity ratio (11.5%) is considered satisfactory

Reducing Debt: LKOH's debt to equity ratio has reduced from 14.3% to 11.5% over the past 5 years.

Debt Coverage: LKOH's debt is well covered by operating cash flow (249.7%).

Interest Coverage: LKOH's interest payments on its debt are well covered by EBIT (44.5x coverage).


Balance Sheet

Inventory Level: LKOH has a high level of physical assets or inventory.

Debt Coverage by Assets: LKOH's debt is covered by short term assets (assets are 3.569440x debt).


Next Steps

Dividend

What is PJSC LUKOIL's current dividend yield, its reliability and sustainability?

6.02%

Current Dividend Yield


Upcoming Dividend Payment

Purchase PJSC LUKOIL before the 'Buy Limit' to receive their next dividend payment.


Dividend Yield vs Market

company6.0%marketbottom25%3.2%markettop25%8.6%industryaverage7.1%forecastin3Years5.9%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: LKOH's dividend (6.02%) is higher than the bottom 25% of dividend payers in the Russian market (3.24%).

High Dividend: LKOH's dividend (6.02%) is low compared to the top 25% of dividend payers in the Russian market (8.62%).

Stable Dividend: LKOH's dividend payments have been volatile in the past 10 years.

Growing Dividend: LKOH's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (25.8%), LKOH's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: LKOH's dividends in 3 years are forecast to be well covered by earnings (43.8% payout ratio).


Next Steps

Management

What is the CEO of PJSC LUKOIL's salary, the management and board of directors tenure and is there insider trading?

4.3yrs

Average board tenure


CEO

Vagit Alekperov (69yo)

0yrs

Tenure

0

Mr. Vagit Usufovich Alekperov serves as the President of PJSC LUKOIL (formerly, OAO LUKOIL) since 1993 and also serves as its Chief Executive Officer. Mr. Alekperov served as the President of OOO Burovaya  ...


Board Age and Tenure

4.3yrs

Average Tenure

67yo

Average Age

Experienced Board: LKOH's board of directors are considered experienced (4.3 years average tenure).


Insider Trading

Insider Buying: LKOH insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Buy₽52,685,00015 Oct 19
Vagit Alekperov
EntityIndividual
Role
Chief Executive Officer
CEO, President
Shares10,000
Max Price₽5,272.00
Buy₽63,907,39302 Oct 19
Gennady Fedotov
EntityIndividual
Role
Member of Management Board
VP of Economics & Planning and Member of Management Board
Shares11,790
Max Price₽5,438.63
Sell₽26,960,45530 Sep 19
Evgeny Khavkin
EntityIndividual
Shares5,000
Max Price₽5,392.09
Buy₽6,616,91223 Jul 19
Leonid Fedun
EntityIndividual
Role
Member of the Board of Directors
VP of Strategic Development & Executive Director
Shares1,275
Max Price₽5,199.00
Buy₽52,75006 Jun 19
Leonid Fedun
EntityIndividual
Role
Member of the Board of Directors
VP of Strategic Development & Executive Director
Shares10
Max Price₽5,275.00
Buy₽57,559,99927 Mar 19
Vagit Alekperov
EntityIndividual
Role
Chief Executive Officer
CEO, President
Shares10,000
Max Price₽5,756.00
Buy₽23,000,67025 Jan 19
Alexander Matytsyn
EntityIndividual
Role
Chief Financial Officer
First VP of Economics & Finance and Member of Management Board
Shares4,419
Max Price₽5,205.00
Buy₽18,709,95025 Jan 19
Lyubov Khoba
EntityIndividual
Role
Member of the Board of Directors
Non-Executive Director
Shares3,605
Max Price₽5,190.00
Buy₽18,713,36519 Dec 18
Ivan Maslyaev
EntityIndividual
Role
Member of Management Board
VP, General Counsel & Member of Management Board
Shares3,648
Max Price₽5,129.76
Buy₽18,704,99103 Dec 18
Gennady Fedotov
EntityIndividual
Role
Member of Management Board
VP of Economics & Planning and Member of Management Board
Shares4,009
Max Price₽4,665.75

Ownership Breakdown


Management Team

  • Vagit Alekperov (69yo)

    CEO, President

    • Tenure: 0yrs
  • Ravil Maganov (65yo)

    Deputy Chairman

    • Tenure: 3.3yrs
  • Alexander Matytsyn (58yo)

    First VP of Economics & Finance and Member of Management Board

    • Tenure: 6.1yrs
  • Vladimir Nekrasov (62yo)

    Advisor to the President & Member of Management Board

    • Tenure: 0yrs
  • Anatoly Moskalenko (60yo)

    VP of Human Resources & Corporate Structure Development and Member of Management Board

    • Tenure: 0yrs
  • Ivan Maslyaev (61yo)

    VP, General Counsel & Member of Management Board

    • Tenure: 0yrs
  • Azat Shamsuarov (56yo)

    Senior VP of Oil & Gas Production and Member of Management Board

    • Tenure: 0yrs
  • Ilya Mandrik (59yo)

    VP of Exploration & Development and Member of Management Board

    • Tenure: 0yrs
  • Gennady Fedotov (49yo)

    VP of Economics & Planning and Member of Management Board

    • Tenure: 0yrs
  • Vadim Vorobyev (58yo)

    First VP of Lukoil for Refining & Sales and Member of Management Board

    • Tenure: 0yrs

Board Members

  • Valery Grayfer (90yo)

    Chairman of the Board

    • Tenure: 19.8yrs
  • Vagit Alekperov (69yo)

    CEO, President

    • Tenure: 0yrs
  • Leonid Fedun (63yo)

    VP of Strategic Development & Executive Director

    • Tenure: 6.3yrs
  • Lyubov Khoba (62yo)

    Non-Executive Director

    • Tenure: 2.3yrs
  • Ravil Maganov (65yo)

    Deputy Chairman

    • Tenure: 3.3yrs
  • Victor Blazheev (58yo)

    Independent Director

    • Tenure: 10.3yrs
  • Roger Munnings (69yo)

    Independent Director

    • Tenure: 4.3yrs
  • Pavel Suloev

    Chairman of Audit Commission

    • Tenure: 0yrs
  • Toby Gati (73yo)

    Independent Director

    • Tenure: 3.3yrs
  • Sergei Shatalov

    Director

    • Tenure: 0.3yrs

Company Information

PJSC LUKOIL's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: PJSC LUKOIL
  • Ticker: LKOH
  • Exchange: MISX
  • Founded: 1993
  • Industry: Integrated Oil and Gas
  • Sector: Energy
  • Market Cap: ₽3.879t
  • Shares outstanding: 672.42m
  • Website: https://www.lukoil.com

Location

  • PJSC LUKOIL
  • 11, Sretensky Boulevard
  • Moscow
  • 101000
  • Russia

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
LKOBLSE (London Stock Exchange)GDR EACH REPR 4 ORD RUB0.025 REGSGBUSDNo data
LKOELSE (London Stock Exchange)GDR EACH REPR 1 ORD RUB0.025 SPON 144AGBUSDNo data
68FVLSE (London Stock Exchange)GDR EACH REPR 4 ORD RUB0.025 144AGBRUBNo data
LKORLSE (London Stock Exchange)GDR EACH REPR 4 ORD RUB0.025 REG SGBUSDNo data
RU_LKOHKAS (Kazakhstan Stock Exchange)YesCommon StockKZKZTJun 1995
LKOHMISX (Micex - Rts)YesCommon StockRURUBJun 1995
LKOHLSE (London Stock Exchange)YesCommon StockGBUSDJun 1995
LKODLSE (London Stock Exchange)ADR EACH REPR 1 ORD RUB0.025 SPONGBUSDJan 1996
LKODWBAG (Wiener Boerse AG)ADR EACH REPR 1 ORD RUB0.025 SPONATEURJan 1996
LUKDB (Deutsche Boerse AG)ADR EACH REPR 1 ORD RUB0.025 SPONDEEURJan 1996
LUKO.YOTCPK (Pink Sheets LLC)ADR EACH REPR 1 ORD RUB0.025 SPONUSUSDJan 1996
LKODLBATS-CHIXE (BATS 'Chi-X Europe')ADR EACH REPR 1 ORD RUB0.025 SPONGBUSDJan 1996
LKOD NBMV (Bolsa Mexicana de Valores)ADR EACH REPR 1 ORD RUB0.025 SPONMXMXNJan 1996
LKODLSE (London Stock Exchange)ADR EACH REPR 1 ORD RUB0.025 SPONGBUSDOct 2015
LKOD NBMV (Bolsa Mexicana de Valores)ADR EACH REPR 1 ORD RUB0.025 SPONMXRUBOct 2015

Biography

PJSC LUKOIL, together with its subsidiaries, engages in exploration, production, refining, marketing, and distribution of oil and gas. The company’s Exploration and Production segment explores for, develop ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/21 21:07
End of Day Share Price2019/10/21 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.