Shares in oil and gas firm Ophir Energy (LSE: OPHR) fell by more than 6% this morning after the firm reported a pre-tax loss of $123m for the first half of 2015.
Ophir’s production is currently running at 14,600 barrels of oil equivalent per day (boepd), which has prompted the firm to increase full-year guidance to 11,000-12,500 boepd. This production helped generate revenue of $86.5m and cash flow from operations of $69.4m.
Net cash was $392m at the end of June. The firm its oil production is currently breaking even at an average of $15 per barrel, excluding interest costs. Looking ahead, Ophir is continuing to work towards the development of its major gas assets, and expects to make a final investment decision on the Fortuna Floating LNG development in Equatorial Guinea in mid-2016.
At close to 100p per share, Ophir trades 30% below its book value of around 150p per share. The company has a strong balance sheet and very attractive long-term gas assets. In my view, Ophir could be worth a closer look.
Michael Page International
Shares in recruiter Michael Page International (LSE: MPI) have already risen by 33% this year. This has left them quite ambitiously valued on a 2015 forecast P/E of 26 and with a prospective yield of 2.6%.
The firm is at a good point in the economic cycle, however, and earnings per share are expected to rise by another 27% in 2016, making the firm’s valuation look more reasonable.
Today’s interim results appear to confirm this positive outlook. Earnings per share for the first half of the year rose by 20% to 9.0p, compared to 7.5p for the same period last year. The operating margin rose from 7.0% to 7.6%.
Shareholders are being looked after as well. The interim dividend rose by 5.3% to 3.6p, and shareholders will also be rewarded with a one-off special dividend of 16p per share as the firm has decided to return £50m of surplus capital to shareholders.
This bumper payout means that shareholders could enjoy a total yield of 5.7% this year, based on current forecasts.
Meanwhile, the firm’s international footprint means it is able to prioritise markets with maximum potential. Although the shares aren’t cheap, I believe they could have further to go.
Coca Cola HBC
Coke bottling firm Coca Cola HBC (LSE: CCH) was one of this morning’s biggest risers, up almost 10% to 1,452p at the time of writing.
The firm announced a 3.8% rise in bottling volumes during the first half, although this fell to 1.8% if the contribution from four extra selling days was stripped out. However, volumes rose by 6.2% in the firm’s developing market segment, suggesting that the group’s turnaround plan is bearing fruit.
Although net revenue fell by 1% due to the weakness of the euro, Coca-Cola HBC’s operating profit rose by 21% to €199m and the firm’s operating margin improved from 5.2% to 6.3%, which seems a strong performance.
However, the firm may face renewed pressure on margins following the recent merger of several other Coca-Cola bottling companies.
Today’s adjusted earnings per share of €0.389 appear to be in-line with consensus forecasts of €0.79 for the full year, leaving the shares on a forecast P/E of 23. In my view, that’s probably high enough for now.
If you own one or more of the shares I've discussed today, then you might be interested in the opportunity featured in "3 Hidden Factors Behind This Daring E-commerce Play".
The company concerned is a well-known British firm with a colourful boss and a track record of strong profit growth.
This exclusive new report is completely FREE and without obligation.
You've got nothing to lose by taking a closer look.
To grab your copy today, just click here now.
Roland Head has no position in any shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.