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KLSE: PENERGY       PETRA ENERGY BHD
Last Price Avg Target Price   Upside/Downside Price Call
1.02 1.34     +0.32 (31.37%)
* Average Target Price, Price Call and Upside/Downside are derived from Price Targets in the past 6 months.
** Price Targets are adjusted for Bonus Issue, Shares Split & Shares Consolidation (where applicable).
Date Open Price Target Price Upside/Downside Price Call Source News
28/08/2017 0.99 1.03 +0.04 (4.04%) HOLD Affin Hwang Capital Price Target News
18/05/2017 1.24 1.32 +0.08 (6.45%) HOLD PUBLIC BANK Price Target News
18/05/2017 1.20 1.66 +0.46 (38.33%) BUY Affin Hwang Capital Price Target News


Price Target Research Article/News (past 6 months)
28/08/2017  Affin Hwang Capital Petra Energy (HOLD, Downgrade) - Higher Cost Base Expected
18/05/2017  PUBLIC BANK Petra Energy Berhad - Seasonally The Weakest Quarter
18/05/2017  Affin Hwang Capital Petra Energy - A permanent relief



  3 people like this.
 
ks5S Buyyyyyyyyyyyyyyyyyyyy
coming liao
23/05/2017 16:11
ks5S don't miss the boat.
This petra energy really got super energy one.
23/05/2017 16:18
BN_menang Sarawak company so BN must take care? Sarawak give many seats to BN every GE.
23/05/2017 21:20
BN_menang Six companies said to be shortlisted for Petronas’ MCM jobs
http://www.theedgemarkets.com/article/six-companies-said-be-shortlisted-petronas-mcm-jobs
24/05/2017 22:12
BN_menang Youngest Razak brother Nazir CIMB can move why not elder brother Nizam Penergy?
26/05/2017 15:01
Icon8 Oil up. Add more RM 1.15-1.16.
01/06/2017 12:07
limch Bustari Yusof: Orang kanan perdana menteri
http://www.freemalaysiatoday.com/category/bahasa/2017/06/05/bustari-yusof-orang-kanan-perdana-menteri/
05/06/2017 22:23
BN_menang Petronas’ results fuel optimism in O&G sector
Read more at http://www.thestar.com.my/business/business-news/2017/06/06/petronas-results-fuel-optimism-in-og-sector/#uKiFGUwJuuXK0PP2.99
06/06/2017 09:32
Orang_Sarawak Sarawak to send lawyers to London over Malaysia Agreement rights
Read more at http://www.thestar.com.my/news/nation/2017/07/01/abang-johari-sarawak-send-legal-team-malaysia-agreement-to-london/#Z6O520peGDm14b5I.99
01/07/2017 22:12
limch Affin Hwang Research retains Buy for Petra Energy
Read more at http://www.thestar.com.my/business/business-news/2017/07/12/affin-hwang-research-retains-buy-for-petra-energy/#xwG4wz2d7PVBPFyS.99
12/07/2017 09:36
Ah Kow, Ali dan Muthu send back to .89 cents lo..
19/07/2017 11:40
Sarawakians Abang Jo: Sarawak not seeking 'exit strategy' from Malaysia
Read more at http://www.thestar.com.my/news/nation/2017/07/22/abang-johari-sarawak-not-seeking-exit-from-malaysia/#91m3jBBFw1Sos7YR.99
22/07/2017 16:23
limch Oil price at two-month high, ends above $50 a barrel
Read more at http://www.thestar.com.my/business/business-news/2017/08/01/oil-at-two-month-high-ends-above-$50-a-barrel/#julS27CWGMUTcy4q.99
01/08/2017 08:25
Batman888 Buy
15/08/2017 20:56
Ah Kow, Ali dan Muthu Run.... Bad result.. Deep ...
24/08/2017 10:12
badud_power They are going to sell off one of their subsidiary soon..haha
25/08/2017 11:25
Sarawakians Can we have our own Petronas in Sarawak?
07/09/2017 10:42
888888888 Affin Bank TP RM 1.66.

Petra Energy - A permanent relief
Date: 18/05/2017

Source : Affin Hwang Capital
Stock : PENERGY Price Target : 1.66 | Price Call : BUY
Last Price : 0.995 | Upside/Downside : +0.665 (66.83%)

Back

Petra Energy (PENB) returns to the black after posting 4 consecutive quarters of headline losses. The turnaround was driven by the higher remuneration fee recognised from Kapal, Banam and Meranti (KBM) RSC and higher other operating income in this quarter. In the latest edition of The Edge Weekly, it was reported that PENB is one of the shortlisted companies for the upcoming maintenance, construction and modification (MCM) contract which is expected to be awarded by early 3Q17. This will likely be a nearterm catalyst for the stock. We upgrade our target price to RM1.66 (from RM1.25) on a strong conviction that the company is on track to turn around its business in 2017 as work orders on the Pan Malaysia hook-up commissioning (HuC) and topside major maintenance (TMM) contract looks to improve. Maintain BUY.

Headline Profit Returned to Black
Despite reporting a 38.5% yoy lower revenue, PENB delivered a turnaround in headline profit of RM5.3m. After adjusting for a RM0.6m unrealised forex gain, PENB booked a core net profit of RM4.7m (vs a loss of RM3m in 1Q16), in line with our full-year expectation. One of the main reasons behind the positive result was the higher remuneration fee recognised as a result of higher lifting prices and a spillover effect in terms of production offtake. Besides that, other operating income increased from RM0.8m in 1Q16 to RM8m in 1Q17 due to an insurance claim received for a repair work completed back in 2016.

Sequential Improvement
Sequentially, revenue increased 14.1% while core net profit went into positive territory versus a loss of RM28m in 4Q16. KBM’s RSC profit increased 91.7% qoq to RM15.1m supported by higher lifting prices and a spillover effect from the previous quarter in terms of production offtake. As mentioned above, other operating income also resulted in a qoq improvement in core net profit.

On Track to Turning Around
While we deem the results broadly in line with our expectation, we tweak our 2017-19E earnings slightly by -RM1.5m/-RM4m/+RM4m as we mainly fine-tune the capital spending assumptions in our RSC model. Due to the low bases, the changes in percentage terms are 5% and 7% lower respectively for 2017E and 2018E, but 7% higher for 2019E. Our RSC forecasts are premised on the assumption of a crude price of US$55/bbl in 2017E and USD60/bbl from 2018E onwards.

Small Cap Top Pick; Reiterate BUY With Higher TP
We reiterate our BUY call and revise our SOTP-derived 12-month TP to RM1.66 (from RM1.25) as we raise our EV/EBITDA valuation multiple on the O&G services segment to 9x (from 5x), which is in line with its 5-year forward mean. We believe a re-rating of PENB is justified as its valuation will revert closer to mean as its services business turns around. We also believe that operating conditions are returning to normal, thereby justifying a mean valuation.

Risks to Our Call
Decline in oil prices leading to lower RSC contribution, and delay in existing HuC work orders.

Source: Affin Hwang Research - 18 May 2017
https://klse.i3investor.com/servlets/ptres/40431.jsp
08/09/2017 07:44
Batman888 Buy
08/09/2017 13:06
limch Search for Petros CEO intensifies
http://www.thestar.com.my/business/business-news/2017/09/09/search-for-petros-ceo-intensifies/
09/09/2017 22:03
limch Roni, 58, is Petra Energy Bhd chief operating officer (COO) and Petra Resources Sdn Bhd CEO. He had served in Sarawak Shell Bhd, Brunei Shell Petroleum Co and Ranhill Bhd as its executive vice-president (petroleum and chemical).
In terms of international exposure, Roni had been employed by Carigali-Triton Operating Co in major development projects for oilfields in Japan and South Korea. He was said to be instrumental in the development of marginal oilfields in Murphy Sarawak Oil Co Ltd.

Read more at http://www.thestar.com.my/business/business-news/2017/09/09/search-for-petros-ceo-intensifies/#KJhjF4Ykj4cxXhqZ.99
09/09/2017 22:04
BN_menang Search for Petros CEO intensifies
http://www.thestar.com.my/business/business-news/2017/09/09/search-for-petros-ceo-intensifies/
11/09/2017 01:30
Sarawakians If Penergy up 1 sen difficult can we say difficult to vote BN in GE 14?
11/09/2017 10:41
DK66 http://www.enanyang.my/news/20170916/%E6%B2%B9%E6%B0%94%E4%B8%9A%E4%B9%85%E6%97%B1%E9%80%A2%E7%94%98%E9%9C%96br-%E5%9B%BD%E6%B2%B960%E4%BA%BFmcm%E5%90%88%E7%BA%A6%E5%BE%85%E9%87%8A/
17/09/2017 14:15
thenextwave petra rebound.
time to buy
20/09/2017 14:49
kenie Problem malaysia oil gas company.
https://klse.i3investor.com/blogs/muze/132809.jsp
20/09/2017 14:51
BN_menang gogogo. 1.5 pls.
20/09/2017 14:52
thenextwave anytime can break 1.20.
buy before too late.
20/09/2017 15:04
ks5S get ready. Wah Seong Ko will goreng this stock kaw-kaw.
20/09/2017 15:39
amsterdam time to buy for the next wave.
After steel counter, now is oil and gas. Bull run will continue for another 1 month at least.
20/09/2017 19:33
Batman888 Buy buy
21/09/2017 08:46
BN_menang Rebound off RM 1.01 low. Confirmed MCM winner?
21/09/2017 12:27
Pak Andak anytime can break 1.20.
buy before too late.
20/09/2017 15:04
21/09/2017 13:09
Sarawakians Harapan promises East M'sian DPM, more revenue and autonomy
Read more at https://www.malaysiakini.com/news/396008#XQuHZOArMFYMhlKh.99
22/09/2017 20:19
limch Counters such as Petra Energy Bhd, Sapura Energy Bhd, Carimin Petroleum Bhd, Deleum Bhd
and Dayang Enterprise Holdings Bhd have been on the uptrend since September on the anticipation of more projects for the industry.
Read more at http://www.thestar.com.my/business/business-news/2017/09/23/oil-and-gas-shares-back-on-investors-radar/#UqEAYPscFQO3iFPy.99
23/09/2017 15:27
Sarawakians Dr M will be allowed to enter Sarawak, says Chief Minister
Read more at http://www.thestar.com.my/news/nation/2017/09/23/dr-m-will-be-allowed-to-enter-sarawak-says-chief-minister/#GqWEx904dV63TFRj.99
23/09/2017 20:39
limch 5 sen dividend if can maintain still a good buy now.
25/09/2017 11:11
BN_menang Newsbreak: Petronas to award maintenance jobs soon
http://www.theedgemarkets.com/article/newsbreak-petronas-award-maintenance-jobs-soon
25/09/2017 22:19
rlch Affin must revise latest TP?
26/09/2017 10:53
Pak Andak PETROLIAM Nasional Bhd (Petronas) is understood to have conducted a pre-award meeting for its maintenance, construction and modification (MCM) jobs, which translate into contracts collectively worth RM6 billion, sources say.

This means the long wait for the award of these contracts — valued at close to RM1 billion each — will soon be over.

The “usual suspects” include Dayang Enterprise Holdings Bhd, Petra Energy Bhd, Sapura Energy Bhd’s wholly owned SapuraKencana Pinewell Sdn Bhd, Carimin Petroleum Bhd, Deleum Bhd, Icon Offshore Bhd and privately held Borneo Sea Offshore Engineering Sdn Bhd.
26/09/2017 12:47
BN_menang Gogogo RM 1.5 pls.
26/09/2017 15:41
Sarawakians We want RM 1.5.
26/09/2017 15:48
Icon8 Bought 1.1-1.11.
27/09/2017 10:17
limch MCM tolong kasi Penergy boleh? Adik PM ada di sini.
29/09/2017 12:10
DK66 Dayang announced MCM contracts award. Penergy will announce soon.
01/10/2017 11:08
BN_menang MCM this week?
01/10/2017 17:16
limch Penergy is different from Dayang because in 2017 it is profitable unlike loss-making Dayang. Paid 5 sen dividend last year. Can get MCM is a bonus.
02/10/2017 22:46
Sarawakians What do we get from BN? Share drop?
http://www.theedgemarkets.com/article/newsbreak-petronas-award-maintenance-jobs-soon
03/10/2017 09:22
badud_power Their fabricators premise already sold to Checkers Hypermarket..staff retrenched..next QR sure will +ve..
03/10/2017 22:35
sheep May 2017 News:
A handful of oil and gas companies — Dayang Enterprise Holdings Bhd, Petra Energy Bhd, Sapura Energy Bhd’s wholly owned SapuraKencana Pinewell Sdn Bhd, Carimin Petroleum Bhd and a joint venture between Deleum Bhd and Icon Offshore Bhd — could be shortlisted for (five or six) portions of the RM6 billion maintenance, construction and modification (MCM) contracts expected to be dished out by Petroliam Nasional Bhd (Petronas) industry sources say.

Now: Three portions given out. Who's next , next and next?
05/10/2017 14:30


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