Repsol SA
REP: XMAD (ESP)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| €46.00 | Psql | Pszrmgvfs |
Repsol Remains Reliant on Its Legacy Hydrocarbon Business, but Low Carbon Will Grow Over Time
Business Strategy and Outlook
Although Repsol is ramping up its investment in lower carbon businesses to achieve its long-term emissions targets, its oil and gas businesses will continue to contribute the bulk of its earnings and cash flow during the next five years. It currently stands to benefit from its relatively higher exposure to natural gas and refining where market conditions are particularly strong.