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The Myer Holdings Ltd (ASX: MYR) share price is having a remarkable day today. At the time of writing, Myer shares are up a healthy 5.9% to 36 cents a share.

That looks pretty good against the broader S&P/ASX 200 Index (ASX: XJO), which is up 0.55% today. It was only back on 9 March that Myer was trading at 28 cents a share, meaning that since then, the Myer share price is up more than 26%.

And even though Myer is still not yet touching its 52-week high of 42 cents a share, it has still enjoyed an incredible run over the past 12 months. This time last year, Myer was scraping 8.3 cents a share, so the company has recovered a pleasing 333% of those lows in the 12 months since. The shares are also up 19% in 2021 so far.

So what’s been happening at Myer recently? And why are Myer shares popping today?

My store, My shares

Myer is one of the most famous retail names on the ASX. It’s a department store chain which has been around since 1900. Unfortunately for Myer (along with almost all other department stores), the past decade or so has not been kind.

Online shopping and e-commerce has hit the department store model hard and resulted in an exodus of value.

Just to illustrate, Myer shares have, on today’s prices, lost more than 90% of their value since November 2009. That was when the company had a share price of more than $3.50 – almost inconceivable looking at today’s pricing.

And remember, that was also coming out of the global financial crisis. It’s an ugly painting of value destruction to be sure.

Why are Myer shares popping today?

Turning to the recent strength in the Myer share price, there’s no immediately obvious reason why this company is rising so strongly today.

There have been no major market-moving announcements from the company since 4 March. That was when Myer delivered its half-year results for the six months ending 23 January.

The company reported that total sales fell 13.1% for the period, coming in at $1.4 billion. However, Myer also delivered a 71% rise in online sales to $287.6 million.

Earnings before interest, tax, depreciation and amortisation (EBITDA) also fell by 1.7% to $214.6 million, but net profits after tax rose to $42.9 million, up 8.4%. Dividend payments remain suspended for shareholders.

So a mixed bag of earnings, one might say.

Still, investors have evidently been pleased by these results, seeing as Myer shares are up a healthy 27.5% since the release.

Myer has in many ways outperformed expectations over this time. Remember, these results reflect a period of ongoing coronavirus lockdowns, especially in Victoria. Myer also stated that “regional and suburban stores were relatively strong with a total of 11 Myer stores delivering increased sales during 1H21 compared to 1H20”, which is obviously good news.

It’s also possible that Myer is benefitting from rising positive sentiment regarding the coronavirus vaccine rollout, as well as the travel stimulus package the government announced earlier in the month.

Whatever the reason, Myer shareholders have reason to be happy today after suffering for so long. On the current Myer share price, the company has a market capitalisation of $291.5 million.

More reading

• These are the 10 most shorted shares on the ASX
• These are the 10 most shorted shares on the ASX
• Leading brokers name 3 ASX shares to buy today
• ASX 200 sinks, Xero reveals acquisition, ARB driven higher
• Myer (ASX:MYR) share price plummets on first-half results release

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The crash in oil-exposed ASX shares is creating a near-term chance to make a quick buck, according to Morgan Stanley.

Crude oil prices tumbled last week on fears of an oversupply of the commodity.

But the broker believes the sell-off is a “tactical opportunity” given that current share prices are implying around a US$50 a barrel oil price based on its forecasts.

ASX oil shares staging a turnaround today

The market seems to be buying the good news. ASX energy shares are among the top performing sectors on the S&P/ASX 200 Index (Index:^AXJO).

It also helps that the Brent crude benchmark rebounded by 2.7% over the weekend to US$64.48 a barrel.

The Woodside Petroleum Limited (ASX: WPL) share price added 1.8% to $24.54, Oil Search Ltd (ASX: OSH) share price rallied 2.5% to $4.33 and Origin Energy Ltd (ASX: ORG) share price jumped 3.3% to $4.74 at the time of writing.

Not all ASX energy shares are a buy

There’s probably more room for ASX energy shares to run given the magnitude of the recent correction, but this may not be the case for all.

For instance, some might think the underperforming Beach Energy Ltd (ASX: BPT) share price should be on the buy list. But Morgan Stanley doesn’t believe so due to production concerns at Western Flank.

“We think Western Flank will be doing well to remain flat over the outlook,” said the broker.

“That said, Beach is becoming a more diverse company and for three of its other assets we see them as more material to the valuation over time.

“Any significant pullback could be an opportunity but at current levels we think the risk-reward is balanced.”

Key ASX buy picks to watch

Morgan Stanley is recommending the Beach share price as “equal-weight”. Instead, it thinks the underachieving Karoon Energy Ltd (ASX: KAR) share price makes a better buy.

“Karoon Energy hasn’t traded as well in 2021 after a strong half towards the end of 2020,” explained Morgan Stanley.

“That said, we think our investment thesis is on track, and the discount to DCF should narrow as the company delivers on its growth programme – it remains a key Overweight call.”

Foolish takeaway

The broker has two other key buy recommendations in the sector. These ASX shares are the Santos Ltd (ASX: STO) share price and Viva Energy Group Ltd (ASX: VEA) share price.

Just remember that the speed of the pullback in the oil price doesn’t change the dimming longer-term outlook for fossil fuels.

This may present a tactical (or short-term) buying opportunity, but questions remain over how the sector will transition to a clean energy future.

More reading

• ASX 200 up 0.35%: Crowns surges, ANZ & CBA settle class actions
• Why the Commonwealth Bank (ASX: CBA) share price is on watch today
• Why the A2 Milk (ASX:A2M) share price is under pressure in 2021
• ASX 200 Weekly Wrap: Inflation fears hold ASX down
• 5 things to watch on the ASX 200 on Monday

Motley Fool contributor Brendon Lau owns shares of Santos Limited. Connect with me on Twitter @brenlau.

The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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In afternoon trade the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a decent gain. The benchmark index is currently up 0.6% to 6,748.6 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are dropping:

Fortescue Metals Group Limited (ASX: FMG)

The Fortescue share price is down 5% to $19.01. This decline has been driven by a pullback in the iron ore price on Friday night. According to CommSec, the iron ore price fell by a further US$5.80 a tonne or 3.5% to US$160.20 a tonne on Friday. This was driven by reports that Chinese regulators will restrict output for some steel mills in Tangshan until the end of 2021.

Freedom Foods Group Ltd (ASX: FNP)

The Freedom Foods share price has crashed 80% lower to 62 cents. This is actually a big improvement on its earlier performance. In morning trade the diversified food company’s shares returned from their nine-month suspension by crashing a whopping 94% to 18 cents. Freedom Foods’ shares returned to trade after undertaking a major recapitalisation.

QBE Insurance Group Ltd (ASX: QBE)

The QBE share price has fallen 2.5% to $9.52. This decline appears to have been driven by concerns that the terrible floods in New South Wales could result in a huge spike in claims. On a more positive note, this morning the insurance giant advised that it has no credit exposure to Greensill entities.

Singular Health Group Ltd (ASX: SHG)

The Singular Health share price has sunk 7% to 64.5 cents despite announcing an acquisition, investment, and contract win. The medical technology company has acquired Virtual Surgical Planning software and will integrate it into its existing MedVR software. In addition to this, Singular Health plans to invest $300,000 for 25% equity stake in Australian Additive Engineering. Finally, leading medical computer aided design company, Lyka Smith, has agreed to purchase 50 software licenses.

More reading

• QBE (ASX:QBE) share price falls on Greensill update
• Why the Fortescue (ASX:FMG) share price is sinking 5% today
• ASX 200 up 0.35%: Crowns surges, ANZ & CBA settle class actions
• How much have investors lost on the Freedom Foods (ASX:FNP) share price?
• These are the 10 most shorted shares on the ASX

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Freedom Foods Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Spacetalk Ltd (ASX: SPA) share price has been on fire lately, reaching gains of 40% in the last five trading days. This comes after the company provided the market with two positive updates that lifted its shares to a new 52-week high.

Spacetalk shares were trading for as little as 11 cents before going into a trading halt on 16 March. Today, the technology company’s shares are swapping hands for 15.5 cents, up 6.9% for the day and almost 41% in a week.

Let’s take a look and see what Spacetalk recently announced to the ASX market.

What’s been driving the Spacetalk share price?

New loan facility

According to the first release, Spacetalk advised that PURE Asset Management agreed to provide a $5 million corporate loan facility. The line of credit will give Spacetalk immediate funding to scale up operations to capture new market share.

The terms and conditions attached to the loan facility will see it split into two different tranches. The first will comprise a $3 million term loan with an option requiring the company to issue 11 million shares at 30 cents each. The second is a $2 million bridging facility, available until 31 December 2021. Spacetalk will use the funds to purchase inventory, expand geographically, invest in its brand, and put towards working capital purposes.

PURE director Tim Callan commented:

We are excited about entering into a partnership to support Spacetalk, to further scale its market leading ANZ business and expand globally. Connected smartwatches is the fastest growing market for wearables and is forecast to grow at high double-digit CAGR over the next decade.

Spacetalk benefits from a significant early-mover moat in the connected smartwatches niche for kids and seniors, having built strong brand equity, network effect, and a dominant market share.

Spacetalk CEO Mark Fortunatow added:

It is an extremely exciting time for Spacetalk as our expanded product suite continues to print strong top-line growth. The Company is now looking beyond our category leadership in ANZ to the massive global market opportunity.

While this had a positive impact on the Spacetalk share price, the next announcement pushed its shares even further.

Telstra agreement

In addition to the loan facility, the second announcement on Friday that really boosted the Spacetalk share price involved a deal with Telstra Corporation Ltd (ASX: TLS).

Under the agreement, Telstra will begin selling Spacetalk Adventurer devices across its national retail stores and online channels next month.

The products will be placed on Telstra’s core wearables device range following completion of final device testing and certification. The planned launch is expected to include marketing and public relations activities, influencer activity and other initiatives.

The devices will be available for outright purchase or on a Telstra repayment plan over a 12 or 24-month period.

In addition, the telco giant is working with Spacetalk to develop a monthly SIM service plan for Spacetalk devices. This will enable Telstra to add new mobile service subscribers to their network.

Telstra retail and regional executive Fiona Hayes said of the agreement:

Smartwatches are the fastest growing market for wearables globally and the addition of Spacetalk will strengthen Telstra’s connected smartwatches offering. Spacetalk is a market leader in Australia in connected smartwatches for children and seniors, providing a practical solution for families to stay connected.

Spacetalk CEO Mark Fortunatow continued on:

This is a very strong endorsement of the quality of Spacetalk devices, with Adventurer to be placed on Telstra’s core wearable device range.

… Needless to say, we are extremely excited by the enhanced brand recognition and sales growth we expect from extending our customer reach with Australia’s largest mobile network operator.

The Spacetalk share price has gained more than 100% in the past 12 months.

More reading

• Why the Telstra (ASX:TLS) share price is on the move today
• ASX 200 Weekly Wrap: Inflation fears hold ASX down
• 2 high yield ASX dividend shares to buy
• Why the Telstra (ASX:TLS) share price has had a top week
• Spacetalk (ASX:SPA) share price surges 77% on Telstra deal

Motley Fool contributor Aaron Teboneras owns shares of Telstra Limited. The Motley Fool Australia owns shares of and has recommended Telstra Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Aerometrex Ltd (ASX: AMX) shares are rising today after news from the company of a $1.1 million government contract. At the time of writing, the Aerometrex share price is trading 5.26% higher at $1.05.

The aerial imagery and mapping company announced this afternoon that it’s been awarded four major projects from the Queensland Government’s Spatial Imagery Subscription Program (SISP).

Let’s take a closer look at what the company announced.

What’s driving the Aerometrex share price?

The Aerometrex share price is on the rise after the company announced that the four projects it has won include aerial surveying of more than 170,000 square kilometres throughout Queensland.

According to the company’s release, the projects represent a value increase of 10% more than last year’s program from SISP, which was also won by Aerometrex.

The largest of the four projects will take place at Galilee Basin East. Aerometrex stated this project will cover an area three times the size of Belgium.

Another will be taking place between Noosa and the New South Wales border. One will include a few townships around the Scenic Rim and the final project will be in North Queensland.

Aerometrex has stated that work is to begin on the projects next month.

Commentary from management

Aerometrex managing director Mark Deuter commented on the company’s positive update:

 We are pleased to continue our partnership with the Queensland Government, having first commenced work with the Department in 2009, and we are especially pleased to have been awarded the majority of the SISP contract this year. The result endorses our commitment to capturing high-quality imagery, to generate outstanding data products and to exceed expectations of delivery timelines.

Aerometrex share price snapshot

The Aerometrex share price started the day off slowly, opening 0.7 cents lower than Friday’s close of 99.7 cents. It then faced a morning of sluggish trade.

After announcing its new contract, however, Aerometrex’s shares started to trend upwards.

The company’s share price has dropped by 22% since this time last month, leaving it down 16% year to date. Although, its still up by around 22% over the last 12 months.  

Aerometrex has a market capitalisation of around $94 million with approximately 94 million shares outstanding.

More reading

• What’s with the Aerometrex (ASX:AMX) share price today?

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Netccentric Ltd (ASX: NCL) share price is flying higher today as the company announced an affiliation with global company, Shopify Inc (NYSE: SHOP).

Shares in the small-cap Australian company are currently trading up 2.17% at 24 cents.

Netccentric is a communication services company that develops software and programming platforms to engage with digital advertising. While it operates globally, the company primarily targets southeast Asian markets.

What happened

Today the Netccentric subsidiary, Nuffnang Live Commerce, completed an integration with Canadian e-commerce giant Shopify. The partnership will allow almost 2 million Shopify merchants to sell their products via its live video streaming application.

The integration will likely enable Netccentric to increase its merchant base, consequentially driving possible revenue opportunities for the company through transaction and subscription fees. Moreover, Shopify merchants could also gain the ability to select products from the Shopify catalogue and directly sell through live streaming.

With a market capitalisation of $138.69 billion, Shopify would be the second-largest company on the All Ordinaries Index (ASX: XAO) if it were listed. The Canadian company operates across 175 countries and generated $2.93 billion in revenue in 2020.

How it works

Netccentric says the platform helps merchants convert social media comments into sales through an automated livestream selling process. A user can comment “+1” or “+2” on a post relating to an item, and the goodwill is immediately added into a virtual shopping cart.

The platform was developed so that both merchants and retailers can take advantage of the rising social commerce industry.

Management comments

Netccentric executive chair Ganesh Kumar Bangah welcomed the news, saying:

After a sustained period of platform development in 2020, we are now exposing Nuffnang Live Commerce to as many merchants, brands and businesses as quickly as possible.

With the Nuffnang Live Commerce Shopify integration, we are making it easier for merchants on the Shopify platform to leverage live social video selling in a way that is quick to get started with an easy and seamless integration

About the Netccentric share price

The Netccentric share price has gained an astounding 235% this year, most of the increase coming in March. At its current share price, the company has a market capitalisation of $65 million.

More reading

• QBE (ASX:QBE) share price falls on Greensill update
• Why the Fortescue (ASX:FMG) share price is sinking 5% today
• Why the Beach Energy (ASX:BPT) share price is climbing today
• Oceania (ASX:OCA) share price rises on new CEO announcement
• What’s with the Flight Centre (ASX:FLT) share price today?

Daniel Ewing has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Shopify. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The QBE Insurance Group Ltd (ASX: QBE) share price is slipping today after the company clarified its exposure to the now insolvent Greensill Capital.

At the time of writing, QBE Insurance is trading down 2.1% to $9.57 per share.

QBE shines a light on Greensill exposure

The Greensill saga has implicated many entities – as the once $9 billion valued supply-chain financier becomes insolvent and faces liquidation.

As previously reported, Greensill’s business of providing funds to suppliers awaiting accounts receivable to purchasing businesses came under pressure when COVID-19 hit. After becoming heavily weighted to a handful of clients, cracks quickly propagated when these loanees could not repay their debts.

Prior to the collapse, debts would be collateralised by Greensill and sold onto investors. For protection, Greensill took out debt insurance policies to cover losses in the event of fallout. Consequently, insurers have found themselves caught in the turmoil. 

QBE Insurance had been speculated to be one of three insurers who provided credit insurance to Greensill. However, the insurance group has today clarified it has no credit exposure to Greensill entities.

The clarification comes after Insurance Australia Group Ltd (ASX: IAG) cleared the air two weeks ago, regarding its dealings with the insolvent entity.

Floods put more stress on QBE share price

It appears there are more pressing concerns for QBE and other Australian insurers today.

As Sydney is battered by torrential rainfall, causing the area’s worst floods in 60 years, insurers are being inundated with flood claims. IAG alone has already received more than 2,100 claims involving property damage, as reported by Reuters.

The recent force of nature adds to what has been a tumultuous 18 months for insurance providers. Only last year, insurers were hit by more than $700 million in damages incurred by catastrophic bushfires. More recently, insurers have been battling in the courts to avoid an estimated $10 billion in COVID-related liabilities.  

Despite testing times, the QBE share price has increased by 17% over the past year. The insurer’s market capitalisation is currently around $14.43 billion at the time of writing.

More reading

• Brokers name 3 ASX shares to buy right now
• Why AGL, Clover, QBE, & Volpara shares are pushing higher today
• IAG (ASX:IAG) share price could jump with this other ASX share after a broker upgrade
• IAG (ASX:IAG) share price takes wild ride on Greensill fears
• Why Adairs, Afterpay, IAG, & Livetiles shares are sinking

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The worst performer on the S&P/ASX 200 Index (ASX: XJO) on Monday has been the Fortescue Metals Group Limited (ASX: FMG) share price.

In afternoon trade, the iron ore producer’s shares are down 5% to $19.01.

This latest decline means the Fortescue share price is now down 28% from the record high it reached in January.

Why is the Fortescue share price tumbling lower today?

Investors have been selling Fortescue shares on Monday after another pullback in the iron ore price.

According to CommSec, the iron ore price fell by a further US$5.80 a tonne or 3.5% to US$160.20 a tonne on Friday night. This was reportedly driven by news that Chinese regulators will restrict output for some steel mills in Tangshan until the end of 2021.

As Tangshan is China’s largest steel-producing city, investors appear concerned that demand will soften meaningfully and weigh on the iron ore price.

Is this a buying opportunity?

One broker that sees a lot of value in the Fortescue share price is Macquarie.

This morning the broker retained its outperform rating and $25.50 price target on the mining giant’s shares.

Based on the current Fortescue share price, this price target implies potential upside of 34% over the next 12 months.

Macquarie’s recommendation follows Fortescue’s US$1.5 billion note offering last week. As well as repaying its 2022 Senior Unsecured Notes, the broker expects the funds to support its Iron Bridge plans. This will allow it to maintain a high dividend payout ratio.

What about dividends?

In light of the above, Macquarie is forecasting dividends of $2.88 per share and $1.92 per share over the next two financial years.

This will mean very generous dividend yields of 15.1% and 10.1%, respectively, in FY 2021 and FY 2022.

Based on the former and Macquarie’s price target, Fortescue’s shares could provide investors with a stunning total return of almost 50% over the next 12 months.

More reading

• ASX 200 up 0.35%: Crowns surges, ANZ & CBA settle class actions
• ASX 200 Weekly Wrap: Inflation fears hold ASX down
• These were the worst performers on the ASX 200 last week
• ASX 200 dips, Sydney Airport falls, AGL rises
• ASX 200 down 0.3%: Afterpay & Zip lower, AGL signs Portland Smelter deal

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Beach Energy Ltd (ASX: BPT) share price is lifting slightly this afternoon following a gas discovery at one of its wells. At the time of writing, the energy producer’s shares are swapping hands for $1.75, up just 0.12%.

Gas discovery

Investors are eyeing the company’s shares today to gauge its prospect of unlocking future gas supplies.

In today’s announcement, Beach Energy advised that it has discovered gas at the Artisan 1 exploration well, located roughly 30km offshore from the Victoria Otway Basin.

The company used a diamond offshore ocean onyx rig to drill a depth of 2,205 metres. A gas column of 69.5 metres in the Upper Waarre Formation (1,921 metres of measured depth) was found, with a net gas pay of 62.9 metres.

In addition, a secondary target of the Flaxman Formation (1902.8 metres of measured depth) intersected a gas column of 20.9 metres. This included a net gas pay of 4.6 metres.

‘Net pay’ is a common term used in hydrocarbon mining that refers to a portion of reservoir rock that holds economically recoverable gas or oil.

Beach energy owns a 60% interest in the Artisan 1 exploration licence (VIC/P43), with OG Energy controlling the remaining 40%.

What’s next?

The recent spudding marks the start of Beach Energy’s offshore drilling operations. The well is being cased and suspended for now, with the company eyeing for production at a later date.

Once casing is complete, the rig will move to the Geographe field to drill two in-field wells. From there, the rig will continue onto the Thylacine field for the development of an additional four in-field wells. The first gas to be extracted from the new Geographe wells is expected sometime in FY22.

Management commentary

Beach Energy managing director and CEO Matt Kay commented:

Beginning our Otway campaign with two exploration successes is a good result for Beach.

While the Artisan discovery is at the lower end of pre-drill expectations, it is being cased as a future producer. Drilling operations have gone to plan and I want to commend the teams working on the Ocean Onyx for the successful start to the campaign.

About the Beach Energy share price

The Beach Energy share price has gained 60% since this time last year, but is down 3% for 2021. The company’s shares hit a 52-week high of $2.04 in January before treading lower after the Cooper Basin business purchase.

More reading

• Beach, Santos, & Woodside shares on watch after oil prices crash
• 5 things to watch on the ASX 200 on Thursday
• 5 things to watch on the ASX 200 on Tuesday
• 5 things to watch on the ASX 200 on Thursday
• 5 things to watch on the ASX 200 on Wednesday

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Oceania Healthcare Ltd (ASX: OCA) share price has risen slightly today after the New Zealand healthcare provider appointed former CFO, Brent Sutton, as its new CEO effective immediately.

Sutton only joined Oceania in January 2020 but previously worked with the company during its IPO in 2017. Sutton is a former investment banker and qualified chartered accountant and has led mergers, acquisitions, takeovers and capital market transactions.

Oceania Chair, Liz Coutts, said that Sutton has already had a major impact on the company.

“Brent has made a significant contribution to both the strategic direction and the performance of Oceania Healthcare over the last 15 months in his role as Chief Financial Officer. He has the full trust of the board and the executive leadership team, and has built a strong relationship with the investment community,” she said. 

Oceania share price grows after COVID downturn, CEO poaching

Sutton’s appointment came after former Oceania CEO Earl Gasparich was poached by rival retirement village provider Metlifecare Limited this month.

Sutton said he was aiming to transform New Zealand’s retirement sector,  Oceania caters for approximately 3,500 residents across the country.

“I have been privileged to be part of the success of the company and am very excited to have the opportunity to lead our highly skilled team into the next stage of growth.

“I am passionate about transforming the retirement and aged care experience in New Zealand, putting our residents at the heart of all that we do.”

The Oceania share price has been a reasonably steady grower over the past five years excluding a swift downturn at the height of the COVID-19 pandemic in March 2020.

In the past 12 months, Oceania shares have risen from a low of 51 cents to $1.41 today.

The Oceania share price was up 0.71% after the announcement and has risen more than 90% year-to-date. The company is listed on the ASX and New Zealand’s NZX, with a market capitalisation of AU$853 million. 

More reading

• What’s with the Flight Centre (ASX:FLT) share price today?
• Retail trade was down 1.1% in February. What does that mean for Coles (ASX:COL) and others?
• Why AnteoTech, Crown, Dotz Nano, & Galan Lithium are zooming higher
• Is the Sydney Airport (ASX:SYD) share price set for a recovery?
• Here’s why the Buru Energy (ASX:BRU) share price is flying 6% today

Motley Fool contributor Lucas Radbourne-Pugh has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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