Oil prices surged early on Tuesday to their highest level since Saudi Arabia and Russia broke up the OPEC+ pact in early March, thanks to promising results in a coronavirus vaccine trial
Share base is 411m now traded 154m or just over 37%. I dont think major shareholder sold the shares. Potential trading counter for those who want to make quick transaction
You can see each buy and sell q is less than 1m units. Easy to move up or down. Maybe people will take advantage to move up as limit up is RM1.30. This share oversubscribed 15.9 times as public offer only 20.55m which is 5% of share base.
Bit high. I am standby to cut loss if needed. I believe afternoon more buyer will come and secure some tickets. Bank TP to 0.88. Hence 0.6 is possible. Tomorrow could be gap up too.
OVH sells services not oil. Crude oil price movement has lesser impact on its bottomline but Oil majors. At this price point range Oil majors has cut their capex which mean lesser revenue for svc provider like OVH. Production cuts definitely put a dent on its earnings. Coming Q is not going to pretty.
OVH did not depend on long term projects. They actually never get long term projects like the other chronies companies. They depended on POs and the company directors hardwork. Besides, they have so many clients under their belt, and not only local clients. Velesto is one of their client, and is drilling in with Mubadala as their client. I expected their stock to go further, which is actually a good reward for their hard work.
It is just a matter of time before their stock goes to RM1.00. This company is going to be the next Dayang or Petra. Been monitoring oil and gas service providers for quite sometime now and OVH is one to rise. They also are asset light and no debt. Their directors were ex Transocean and Seadrill. So, think about it and if you want to buy or sell it is your decision.
Fair enough but short term projects trails back to mid and long term projects and remember all project is under capex from the very top down to the chain.
..and margin keep narrowing down to the last mile. If you said they're are very working hard, yes they must because they're walking on the thin line unless they've highly specialized and rare skills set.
I agree that the capex will most likely affect them, but their asset light approach is a smart move. Less overhead to worry. I think they will have a decent Q3 & Q4. This is a bargain stock, and I guess some bigshots will be pumping in money here. Just some rumours I heard. Serba Dinamik guys might be behind this. Support is at 0.505, and the resistance at 0.54 is quite a though nut. If the third time it try to break and succeed, I can see it flying to 0.575 and then to 0.6 today. Good luck everyone who bought.
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