Petron Malaysia Refining & Marketing Bhd (-ve)
SHARES in Petron Malaysia Refining & Marketing Bhd (fundamental: 1.7/3, valuation: 2.4/3) triggered our momentum algorithm on Tuesday for the fourth time this year.
The counter rose 47 sen or 6.27% to close at RM7.97 on Tuesday. Total trading volume was 764,700 shares compared with its 200-day average of 181,774 shares.
On April 27, Petron announced a final dividend payment of 22 sen per share which once approved in its upcoming annual general meeting it plans to credit into its shareholders’ accounts on June 30.
Petron finished the financial year ended Dec 31, 2016 (FY16) with a 7.7% increase in net profit to RM237.55 million from RM220.6 million the previous year, while revenue fell 6.7% to RM7.6 billion from RM8.15 billion in FY15, no thanks to an overall drop in oil revenue.
Petron is currently trading at 1.84 times its book value. Its market capitalisation stands at RM2.15 billion.