OSK is bullish on the O&G industry in the immediate term as it would be very soon before new contracts are awarded, including:
- RM8-10bn worth of hook-up commissioning in the Pan Malaysia cluster
- marginal oilfields
- replacement of expiring brownfield contracts.
OSK’s top picks for the sector is SapuraKencana Petroleum (BUY FV RM3.00), Dialog (BUY FV: RM3.45) and Dayang (BUYFV: RM2.90). They like these companies for their excellent track records and believe that in the event of a slowdown in contract awards, they would still have strong orderbook.
Below are the target prices and ratings for selected Oil & Gas stock.
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This is the follow up from the earlier article on OSK 30 Jewels – Top Small Cap Companies posted in May. This time there are more detail figures in each stocks.
OSK Jewels Small Cap Companies was initially published by OSK in 2005. The selection of the 30 companies are based on Market Capitalization (<= RM1.5bn), Profit track record, Price earnings ratio (PER), Price to NTA (P/NTA), Net gearing, Return on Equity (ROE), Compounded Annual Growth Rate (CAGR) in earnings, Dividend prospects, Management track record & Stock and industry related catalysts.
Below are the full list of OSK 2012 Jewels which includes target price, forecast for 2012 PER & Dividend Yield.
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The companies fall under Forbes Asia-Pacific 200 Best Under A Billion 2011 must show both sales and earnings growth. To qualify they must have annual revenue between $5 million and $1 billion and be publicly traded for at least a year.
Then the companies are then screened for earnings growth, sales growth and return on equity in the past 12 months and over 3 years.
There are six Malaysia companies listed. The table below is the full list of Forbes Asia 200 Best Under A Billion for 2011.
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Recently, during OSK’s small cap corporate day, OSK unveiled their 2012 Jewels. OSK Jewels actually is a list of small caps stock picks by OSK. They expect OSK Jewels to perform reasonably well during 2012. For the 2012 list, there are 31 stocks in the list.
The top picks are DAYANG (FV: RM2.34), JOHORETIN (FV: RM1.51), PRESTARIANG (FV: RM1.48) and TAKAFUL (FV: RM4.42).
Below are the full list of OSK 2012 Jewels.
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As jobs visibility improves, 2012 should generally be a better year for the Malaysian O&G industry compared to 2011. This year and next year’s focus should still be on marginal oilfields. OSK expects the overlap of marginal oilfield and deepwater activities to boost O&G services providers’ utilization rates to their peaks.
The development of onshore O&G projects would also continue to hog the headlines moving forward.
OSK Maintains Overweight on the sector, with Kencana Petroleum and Dialog Group being the top picks.
Below are the target prices and ratings for selected Oil & Gas stock.
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