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MarketScreener Homepage  >  Equities  >  BOLSA DE COMERCIO DE BUENOS AIRES  >  YPF S.A.    YPFD/6   ARP9897X1319

YPF S.A.

(YPFD/6)
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Argentina Polls Show Broad Support For YPF Nationalization

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04/23/2012 | 01:45pm EDT

Two opinion polls published over the weekend show widespread support for Argentine President Cristina Kirchner's plan to nationalize the country's largest oil and gas company, YPF SA (YPF, YPFD.BA).

The surveys, conducted by respected pollsters with a track record of accurately measuring electoral patterns, indicate a majority of Argentines approve of Kirchner's decision.

A poll carried out by Poliarquia Consultores and published in newspaper La Nacion, shows that 62% of Argentines "agree with the announced plans," while 31% disagree with them.

The other survey, conducted by Management & Fit and published in the weekly magazine Noticias, puts support for YPF's nationalization at 50.2% and its rejection at 34.6%.

Both polls indicate that a plurality of respondents blame the government instead of YPF for Argentina's energy problems.

In the Poliarquia's survey, around 44% of those polled said the government is responsible for declining oil production, while 36% said YPF is the culprit.

In Management & Fit's poll, about 39% blamed the government for "YPF's crisis," while 18.3% blamed the company's majority shareholder, Spain's Repsol YPF SA (REP.MC, REPYY), for YPF's troubles. The poll said 11.6% of those interviewed blame the Spanish government for YPF's predicament.

Last week, President Kirchner asked Congress to nationalize YPF by expropriating 51% of the company's shares from Repsol YPF. She said Repsol YPF and YPF had failed Argentina by not investing enough in oil and gas production.

The lack of investment has led to falling oil and gas output, which forced Argentina to become a net energy importer for the first time in 17 years, according to Kirchner.

Both YPF and Repsol have denied Kirchner's allegations and said noted that YPF invested far more than any other company in Argentina. In 2011, YPF invested $3 billion in Argentina, mostly on exploration and production.

-By Taos Turner, Dow Jones Newswires; 5411-4103-6728; taos.turner@dowjones.com

Stocks mentioned in the article
ChangeLast1st jan.
EURO / ARGENTINE PESO (EUR/ARS) -0.09% 48.117 Delayed Quote.11.98%
REPSOL -1.01% 13.77 End-of-day quote.-2.20%
YPF S.A. 0.00%End-of-day quote.0.00%
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Financials (ARS)
Sales 2019 644 B
EBIT 2019 42 855 M
Net income 2019 -
Debt 2019 -
Yield 2019 -
P/E ratio 2019 10,85
P/E ratio 2020
Capi. / Sales 2019 0,47x
Capi. / Sales 2020 0,38x
Capitalization 303 B
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 6
Average target price 968  ARS
Spread / Average Target 25%
EPS Revisions
Managers
NameTitle
Daniel Cristian González Casartelli Chief Executive Officer
Miguel Ángel Gutiérrez Méndez Chairman
Carlos Alberto Alfonsi Executive VP-Operations & Transformation
Luis Miguel Sas Chief Financial Officer
Roberto Luis Monti Independent Director
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