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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  UBS Group AG    UBSG   CH0244767585

UBS GROUP AG

(UBSG)
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Oil ends lower, retreating from recent gains as COVID cases rise

01/13/2021 | 03:57pm EST
FILE PHOTO: Oil pump jacks work at sunset near Midland

NEW YORK (Reuters) - Oil prices fell on Wednesday, pulling back from recent gains, on concerns that rising global COVID-19 will hamper global fuel demand.

The market did find some support from weekly inventory figures that showed a drop in crude inventories and rising refinery production.

Brent crude prices settled at $56.06 a barrel, down 52 cents, or 0.9%. U.S. West Texas Intermediate (WTI) settled at $52.91 a barrel, falling 30 cents, or 0.6%.

Fuel demand has rebounded from last spring's shock falloff as the COVID-19 pandemic worsened, but governments continue to place restrictions on travel that will restrain energy demand for months, analysts said.

"While I see crude prices trading higher over the coming months, investors need to be mindful that the road to higher oil demand and prices will remain bumpy," UBS oil analyst Giovanni Staunovo said.

U.S. crude inventories were lower for a fifth straight week, dropping by 3.2 million barrels last week, exceeding analysts' expectations in a Reuters poll for a 2.3 million-barrel drop, as refiners increased crude runs, the Energy Information Administration said.

"The refiners are starting to see a better demand picture and that's being reflected not just what we're seeing in the United States but also overseas," said Phil Flynn, senior analyst at Price Futures Group in Chicago.

Governments across Europe announced tighter and longer coronavirus lockdowns on Wednesday due to a fast-spreading COVID variant first detected in Britain and as vaccinations are not expected to help much for another two to three months.

China recorded the biggest daily jump in coronavirus cases in more than five months, despite lockdowns, increased testing and other measures aimed at preventing another wave of infections.

Saudi Arabia cut supplies of crude for February loading for at least three Asian buyers, while meeting requirements of at least four others, several refinery and trade sources told Reuters.

(Additional reporting by Ahmad Ghaddar in London and Aaron Sheldrick in TOKYO; Editing by Marguerita Choy and David Gregorio)

By Laila Kearney


© Reuters 2021
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Financials
Sales 2020 28 852 M 32 580 M 32 580 M
Net income 2020 5 229 M 5 905 M 5 905 M
Net cash 2020 7 609 M 8 592 M 8 592 M
P/E ratio 2020 9,30x
Yield 2020 2,78%
Capitalization 47 181 M 53 283 M 53 277 M
EV / Sales 2020 1,37x
EV / Sales 2021 1,41x
Nbr of Employees 71 230
Free-Float 92,9%
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Technical analysis trends UBS GROUP AG
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 14,52 CHF
Last Close Price 13,15 CHF
Spread / Highest target 28,6%
Spread / Average Target 10,4%
Spread / Lowest Target -8,75%
EPS Revisions
Managers and Directors
NameTitle
Ralph A. J. G. Hamers Group Chief Executive Officer
Axel A. Weber Chairman
Sabine Keller-Busse Group Chief Operating Officer
Kirt Gardner Group Chief Financial Officer
Mike Dargan Chief Information Officer
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