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MarketScreener Homepage  >  Equities  >  Nyse  >  The Goldman Sachs Group, Inc.    GS

THE GOLDMAN SACHS GROUP, INC.

(GS)
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Higher OPEC+ output unlikely to upset oil market rebalancing - Goldman

12/04/2020 | 12:34am EST
FILE PHOTO: The OPEC logo pictured ahead of an informal meeting between members in Algiers

(Reuters) - OPEC+ members' decision to slowly ramp up production from next month will be balanced by increased demand as a result of the expected roll-out of coronavirus vaccines, Goldman Sachs said in a note dated Thursday.

The Organization of Petroleum Exporting Countries and Russia agreed on Thursday to ease oil output cuts by 500,000 barrels per day (bpd) to 7.2 million, from 7.7 million now, starting January.

"OPEC+ clearing the hurdle of exiting its current cuts in a coordinated way and its focus on both growing production and drawing inventories reinforces our conviction in a steady and sustainable rally in oil prices through 2021," Goldman said.

Goldman in its note also maintained its 12-month Brent price forecast of $65 per barrel.

(Reporting by Nakul Iyer in Bengaluru; Editing by Vinay Dwivedi)


© Reuters 2020
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Financials (USD)
Sales 2020 42 737 M - -
Net income 2020 7 111 M - -
Net Debt 2020 274 B - -
P/E ratio 2020 13,6x
Yield 2020 1,83%
Capitalization 98 063 M 98 063 M -
EV / Sales 2020 8,70x
EV / Sales 2021 9,42x
Nbr of Employees 40 500
Free-Float 37,9%
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Technical analysis trends THE GOLDMAN SACHS GROUP, INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 328,48 $
Last Close Price 273,33 $
Spread / Highest target 62,8%
Spread / Average Target 20,2%
Spread / Lowest Target -12,9%
EPS Revisions
Managers and Directors
NameTitle
David Michael Solomon Chairman & Chief Executive Officer
John E. Waldron President & Chief Operating Officer
Stephen M. Scherr Chief Financial Officer & Executive Vice President
Marco Argenti Co-Chief Information Officer
Atte Lahtiranta Chief Technology Officer