KUALA LUMPUR (April 28): Sapura Energy Bhd was among the most actively traded stocks this morning amid mixed reviews from analysts after the group secured oil and gas contracts worth RM1 billion while reporting a smaller net loss in the fourth quarter ended Jan 31, 2021 (4QFY21).
Sapura Energy rose as much as one sen or 7.69% to 14 sen in early trades. At 10.19am, the counter pared some gains at 13.5 sen, still up five sen or 3.85%.
The counter, which was the fifth most actively traded stock, saw 66.32 million shares changed hands.
MIDF Research’s analyst Kifni Kamaruddin maintained his buy call on Sapura Energy with an unchanged target price (TP) of 16 sen as he continued to view Sapura Energy’s future prospects positively given that the operating environment worldwide has improved since mid-2020, underpinned by higher oil prices that have rebounded significantly to US$60 per barrel levels, which will benefit the group s engineering and construction (E&C) as well as explora