Australia's Beach Energy extends losses; Citi trims PT, earnings estimates

Beach Energy

07/02/2025 24:23

** Shares of oil and gas explorer Beach Energy  BPT.AX  fall
as much as 6.9% to A$1.340, their lowest since December 20
    ** BPT fell ~5% on Thursday after it narrowed FY production
outlook and its HY underlying NPAT missed Citi's and Jarden's
estimates
    ** Citi cuts price target to A$1.15 from A$1.30
    ** Brokerage trims FY25 earnings estimates by ~7% after
assuming a higher decline at Western Flank ops and pushing out
Waitsia project to commence LNG sales in June instead of April
    ** Stock top loser on ASX 200 benchmark index  .AXJO 
    ** Stock down ~3.2% YTD, including day's moves

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))