Shares of Surgutneftegaz on the Moscow Exchange grew by 43 percent in two days 
two days, according to the data of the Moscow Exchange. The company's shares became the growth leaders among blue chips, but experts do not find any obvious reasons for such a price surge.
On the afternoon of November 8, ordinary shares of Surgutneftegaz soared by 21.72%, to 49 rubles per share. By the time the news was written, their value had adjusted to 46.5 rubles. The volume of transactions for this type of shares exceeded 35 billion rubles. The price of preferred shares first rose by 4%, to 41.5 rubles, and then dropped to 40.67 rubles. The trading volume reached 16 billion rubles.
Experts find it difficult to answer why the company's securities have risen sharply. “Usually such ups are associated with the appearance of rumors about the opening of Surgutneftegaz's dollar box, the size of which has already reached 3.8 trillion rubles, or the hope of investors for the emergence of a dividend policy on common shares, but there are no rumors yet,” he commented on the growth of shares for RBC Sergey Kaufman, analyst at Finam investment company.
Surgutneftegaz is one of the largest oil companies in Russia and ranks third in terms of production. The specificity of the company's shares for investors is that the company has accumulated a huge amount on its deposits. For about 20 years, Surgutneftegaz did not spend funds from profits, but accumulated them – it is these savings of the enterprise that are called the “money box”. According to the company's reporting in accordance with Russian Accounting Standards (RAS), by the end of September 2021 the company's long-term and short-term financial investments amounted to 3.6 trillion rubles – almost twice the current capitalization.
So far Surgutneftegaz has been saving up money on deposits, experts made various assumptions about these funds. However, none of them came true. The likelihood that this time the sharp rise in shares will be supported by real actions is very low, Kaufman is sure.
By the end of 2020, Surgutneftegaz became the most profitable Russian company, depriving Gazprom of its leadership. The profit of the oil company registered in Surgut amounted to 743 billion rubles.