国际股市

Petronas Dagangan jumps to highest in 13 months; volume surges

(Feb 28): Petronas Dagangan Bhd rose 4.2% in the morning on Monday (Feb 28). Trading volume was six times the average for this time of day.

The shares increased to RM21.06, higher than any close since Jan 18, 2021, from RM20.22.

The stock was the best performer among its peers.

The FBM KLCI rose 0.9%, while the MSCI AC Asia Pacific Index lost 0.3%.

Petronas Dagangan was raised to “buy” by TA Securities, with a target price (TP) of RM23.10.

Market metrics

Petronas Dagangan’s trading volume was 141,200 shares, six times the 20-day average of 23,829 shares for this time of day.

Of shares that were traded, 57% were at the ask price and 17% were at the bid.

Market insights

The stock advanced 1.1% in the past 52 weeks. The KLCI gained 0.9%.

The shares were up 4.1% in the past five days and rose 8.6% in the past 30 days.

Petronas Dagangan trades at 29 times its estimated earnings per share (EPS) for the coming year. It trades at 40 times trailing EPS.

The company is priced at 3.7 times book value.

The company’s dividend yield is 2.9% on a trailing 12-month basis and 4.4% based on Bloomberg dividend forecasts for the next 12 months.

Analyst activity

Analysts have four “buy”, seven “hold” and one “sell” recommendations on the stock.

The consensus rating is 3.5 on a one-to-five scale, with one meaning “strong sell” and five meaning “strong buy”.

The TP of RM20.31 represents a 3.5% decrease from the last price.

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