MISX:TATN

Stock Analysis Report

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Executive Summary

PJSC Tatneft, together with its subsidiaries, engages in exploration, development, and production of crude oil primarily in Russia. More Details


Snowflake Analysis

Reasonable growth potential with adequate balance sheet and pays a dividend.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: TATN has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-5.2%

TATN

0.5%

RU Oil and Gas

1.4%

RU Market


1 Year Return

-31.4%

TATN

-17.9%

RU Oil and Gas

-2.0%

RU Market

Return vs Industry: TATN underperformed the Russian Oil and Gas industry which returned -17.9% over the past year.

Return vs Market: TATN underperformed the Russian Market which returned -2% over the past year.


Shareholder returns

TATNIndustryMarket
7 Day-5.2%0.5%1.4%
30 Day-9.5%-4.0%-1.5%
90 Day-14.0%-9.4%1.3%
1 Year-25.2%-31.4%-11.6%-17.9%3.4%-2.0%
3 Year62.9%23.7%58.2%31.7%49.8%27.6%
5 Year146.1%69.9%93.6%47.1%119.3%70.1%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

9.1%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: TATN (RUB509.7) is trading below our estimate of fair value (RUB560.58)

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


Price To Earnings Ratio

PE vs Industry: TATN is poor value based on its PE Ratio (9.5x) compared to the RU Oil and Gas industry average (8.5x).

PE vs Market: TATN is good value based on its PE Ratio (9.5x) compared to the Russian market (10.5x).


Price to Earnings Growth Ratio

PEG Ratio: TATN is good value based on its PEG Ratio (0.3x)


Price to Book Ratio

PB vs Industry: TATN is overvalued based on its PB Ratio (1.5x) compared to the RU Oil and Gas industry average (0.5x).


Next Steps

Future Growth

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

28.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TATN's forecast earnings growth (28% per year) is above the savings rate (8.3%).

Earnings vs Market: TATN's earnings (28% per year) are forecast to grow faster than the Russian market (25.7% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: TATN's revenue (13% per year) is forecast to grow faster than the Russian market (8% per year).

High Growth Revenue: TATN's revenue (13% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: TATN's Return on Equity is forecast to be low in 3 years time (19.7%).


Next Steps

Past Performance

How has PJSC Tatneft performed over the past 5 years?

16.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TATN has a large one-off loss of RUB46.4B impacting its June 30 2020 financial results.

Growing Profit Margin: TATN's current net profit margins (14.8%) are lower than last year (23.5%).


Past Earnings Growth Analysis

Earnings Trend: TATN's earnings have grown by 16.6% per year over the past 5 years.

Accelerating Growth: TATN's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: TATN had negative earnings growth (-45.3%) over the past year, making it difficult to compare to the Oil and Gas industry average (-49.9%).


Return on Equity

High ROE: TATN's Return on Equity (15.2%) is considered low.


Next Steps

Financial Health

How is PJSC Tatneft's financial position?


Financial Position Analysis

Short Term Liabilities: TATN's short term assets (RUB209.9B) do not cover its short term liabilities (RUB284.6B).

Long Term Liabilities: TATN's short term assets (RUB209.9B) exceed its long term liabilities (RUB140.1B).


Debt to Equity History and Analysis

Debt Level: TATN's debt to equity ratio (6.5%) is considered satisfactory.

Reducing Debt: TATN's debt to equity ratio has increased from 3.2% to 6.5% over the past 5 years.

Debt Coverage: TATN's debt is well covered by operating cash flow (467.3%).

Interest Coverage: TATN earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

What is PJSC Tatneft current dividend yield, its reliability and sustainability?

3.90%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: TATN's dividend (3.9%) is higher than the bottom 25% of dividend payers in the Russian market (3.61%).

High Dividend: TATN's dividend (3.9%) is low compared to the top 25% of dividend payers in the Russian market (8.34%).


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (63.9%), TATN's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: TATN's dividends in 3 years are forecast to be covered by earnings (54.9% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

6.8yrs

Average management tenure


CEO

Nahil Maganov (62 yo)

6.83yrs

Tenure

Mr. Nahil Ulfatovich Maganov has been a General Director of PJSC Tatneft since November 27, 2013 and serves as its Chairman and Member of The Management Board and Chief Executive Officer. Mr. Maganov serve ...


Leadership Team

NamePositionTenureCompensationOwnership
Nahil Maganov
Chairman of Management Board6.83yrsno data0.000010%
RUB 114.5k
Rustam Mukhamadeev
Deputy General Director for Social Development & Member of Management Boardno datano data0.0041%
RUB 47.3m
Nikolay Glazkov
Deputy General Director of Capital Construction & Member of Management Board8.25yrsno datano data
Nurislam Syubaev
Deputy General Director of Strategic Development1.25yrsno datano data
Oleg Matveev
Chief Accountantno datano datano data
Nuria Valeeva
Chief Specialist of Department of Technical0.83yrno datano data
Rais Khisamov
Deputy General Director22.67yrsno data0.021%
RUB 237.6m
Rafail Nurmukhametov
Executive Director13.25yrsno data0.011%
RUB 123.9m
Ildar Rakhmatullin
Head of the Internal Audit Departmentno datano datano data
Ravil Sharifullin
Head of Control & Revision Departmentno datano datano data
Ilshat Bariev
Deputy Head of Economic Security Departmentno datano datano data
Rimaz Yamilov
Head of New Structures Office - Property Departmentno datano datano data

6.8yrs

Average Tenure

62yo

Average Age

Experienced Management: TATN's management team is seasoned and experienced (6.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Nahil Maganov
Chairman of Management Board6.83yrsno data0.000010%
RUB 114.5k
Nurislam Syubaev
Deputy General Director of Strategic Development1.25yrsno datano data
Rais Khisamov
Deputy General Director22.67yrsno data0.021%
RUB 237.6m
Rafail Nurmukhametov
Executive Director13.25yrsno data0.011%
RUB 123.9m
Rustam Khalimov
First Deputy General Director of Oil5.25yrsno data0%
RUB 0
Shafagat Takhautdinov
Advisor to the Chairman & Non-Executive Director26.67yrsno data0.12%
RUB 1.4b
Rene Steiner
Independent Director7.67yrsno datano data
Rustam Minnikhanov
Chairman of the Board22.25yrsno datano data
Radik Gaizatullin
Non-Executive Director20.67yrsno datano data
Rinat Sabirov
Non-Executive Director14.25yrsno datano data
Valery Sorokin
Non-Executive Director15.67yrsno datano data
Yuri Levin
Independent Director5.25yrsno datano data

15.0yrs

Average Tenure

61yo

Average Age

Experienced Board: TATN's board of directors are seasoned and experienced ( 15 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

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


Key Information

  • Name: PJSC Tatneft
  • Ticker: TATN
  • Exchange: MISX
  • Founded: 1950
  • Industry: Oil and Gas Exploration and Production
  • Sector: Energy
  • Market Cap: ₽1.145t
  • Shares outstanding: 2.25b
  • Website: https://www.tatneft.ru

Location

  • PJSC Tatneft
  • 75 Lenin Street
  • Almetyevsk
  • Tatarstan
  • 423450
  • Russia

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TATNMISX (Micex - Rts)YesCommon SharesRURUBJan 1996
TATNPMISX (Micex - Rts)Preferred SharesRURUBAug 2002
ATADLSE (London Stock Exchange)ADR EACH REP 6 ORD SHS REGSGBUSDNov 2006
OAOF.YOTCPK (Pink Sheets LLC)ADR EACH REP 6 ORD SHS REGSUSUSDNov 2006
ATADLBATS-CHIXE (BATS 'Chi-X Europe')ADR EACH REP 6 ORD SHS REGSGBUSDNov 2006
ATADWBAG (Wiener Boerse AG)ADR EACH REP 6 ORD SHS REGSATEURNov 2006

Biography

PJSC Tatneft, together with its subsidiaries, engages in exploration, development, and production of crude oil primarily in Russia. The company operates in four segments: Exploration and Production, Refini ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/09/21 03:51
End of Day Share Price2020/09/18 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.