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Hot Stocks: Red Emperor rises
The oil explorer draws huge interest from private investors, according to the latest data from Selftrade.
Markets
by Chris Marshall on Mar 15, 2012 at 12:35
The week's most actively bought investments
| Stock | Buys in last 7 days* | Type | Sector | Tools |
|---|---|---|---|---|
| Gulf Keystone Petroleum Ltd | 369 | Share | Oil & Gas Producers | AlertsPortfolio |
| Red Emperor Resources NL | 359 | Share | Oil & Gas Producers | AlertsPortfolio |
| Vodafone Group PLC | 219 | Share | Mobile Telecommunications | AlertsPortfolio |
| Range Resources Ltd | 192 | Share | Oil & Gas Producers | AlertsPortfolio |
| Xcite Energy Ltd | 153 | Share | Oil & Gas Producers | AlertsPortfolio |
| Tesco PLC | 135 | Share | Food & Drug Retailers | AlertsPortfolio |
| The Game Group PLC | 130 | Share | Personal Goods | AlertsPortfolio |
| Aviva PLC | 128 | Share | Life Insurance | AlertsPortfolio |
| Lloyds Banking Group PLC | 118 | Share | Banks | AlertsPortfolio |
| Royal Bank of Scotland Group PLC | 107 | Share | Banks | AlertsPortfolio |
Source: Selftrade. *Data is as at market close last Wednesday.
The week's most actively sold investments
| Stock | Sells in last 7 days* | Type | Sector | Tools |
|---|---|---|---|---|
| Red Emperor Resources NL | 237 | Share | Oil & Gas Producers | AlertsPortfolio |
| Gulf Keystone Petroleum Ltd | 232 | Share | Oil & Gas Producers | AlertsPortfolio |
| Range Resources Ltd | 148 | Share | Oil & Gas Producers | AlertsPortfolio |
| Lloyds Banking Group PLC | 137 | Share | Banks | AlertsPortfolio |
| Tesco PLC | 108 | Share | Food & Drug Retailers | AlertsPortfolio |
| The Game Group PLC | 101 | Share | Personal Goods | AlertsPortfolio |
| Royal Bank of Scotland Group PLC | 89 | Share | Banks | AlertsPortfolio |
| BP PLC | 81 | Share | Oil & Gas Producers | AlertsPortfolio |
| Barclays PLC | 71 | Share | Banks | AlertsPortfolio |
| Xcite Energy Ltd | 69 | Share | Oil & Gas Producers | AlertsPortfolio |
Source: Selftrade. *Data is as at market close last Wednesday.
Red Emperor rises
Shares in Red Emperor Resources (RMPq.L), an oil explorer listed on both London’s Alternative Investment Market (AIM) and the Australian Stock Exchange, have soared over the past week.
They rose 35% over the period covered in the week to the end of Wednesday, with private investors buying and selling furiously, as seen in the data from Selftrade above.
Investors first cheered a positive update from the company’s well in Puntland, Somalia. Then analysts reiterated their ‘buy’ ratings on the miner. Finally, this Wednesday, rumours among retail investors that the drilling programme in Puntland may have found oil shallower than suggested by pre-drill estimates prompted the company to issue a regulatory note to the stock market.
On 9 March broker FoxDavies upgraded its target price for the company to 65p, reiterating its ‘buy’ recommendation as it pointed to the ‘huge potential' in Puntland, the break-away north-east region of Somalia where Red Emperor operates.
Two days before this broker Old Lane Park Capital, which also has a 'buy' recommendation on the company, cut its target price for the shares from 85p to 75p to reflect the anticipated dilution from the issuance of new shares, which is expected in April.
Red Emperor, which also has interests in Georgia and Western Australia, was due to announce half-yearly results at the time of writing.
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Look up the shares
- Gulf Keystone Petroleum Ltd
- Red Emperor Resources NL
- Vodafone Group PLC
- Range Resources Ltd
- Xcite Energy Ltd
- Tesco PLC
- GAME Group PLC
- Aviva PLC
- Lloyds Banking Group PLC
- Royal Bank of Scotland Group PLC
- BP PLC
- Barclays PLC
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1 comment so far. Why not have your say?
carol peters
Feb 19, 2013 at 21:35
19th feb 2013
Range Resources Full Broker Note out from Old Park Lane Capital on the Joint venture agreement
http://www.directorstalk.com/?s=RANGE+RESOURCES
20/02/2013 08:30:23
Red Emperor – Somalian Minister of Natural Resources Abdirizak Omar Mohamed has just set up his new oil team
http://www.directorstalk.com/?s=RED+EMPEROR
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