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1 Comment
Velesto Energy Bhd is currently in a long term uptrend where the price is trading 2.3% above its 200 day moving average.
From a valuation standpoint, the stock is 64.2% cheaper than other stocks from the Other sector with a price to sales ratio of 2.3.
Velesto Energy Bhd's total revenue sank by 37.4% to $131M since the same quarter in the previous year.
Its net income has dropped by 98.6% to $479K since the same quarter in the previous year.
Finally, its free cash flow fell by 15.3% to $47M since the same quarter in the previous year.
Based on the above factors, Velesto Energy Bhd gets an overall score of 2/5.
| Exchange | KLSE |
|---|---|
| CurrencyCode | MYR |
| ISIN | MYL5243OO000 |
| Industry | Oil & Gas Drilling |
| Sector | Energy |
| Market Cap | 2B |
|---|---|
| Target Price | 0.3263 |
| Beta | 0.4 |
| PE Ratio | 15.0 |
| Dividend Yield | 10.% |
Velesto Energy Berhad, an investment holding company, engages in activities in the upstream sector of the oil and gas industry in Malaysia and internationally. It operates through two segments: Drilling Services and Others. The Drilling Services segment owns and operates a fleet of six premium jack-up drilling rigs capable of operating at water depths up to 400 feet, and drilling operations, well intervention, rejuvenation, repair, abandonment, and decommissioning services for exploration, development, and production wells. The Others segment provides oilfield services, including threading, inspection, and repair of Oil Country Tubular Goods, as well as specialised training and competency development programmes. The company also hydraulic workover units; operations and other engineering services for oil and gas exploration, development; and training and courses in relation to oil and gas drilling activities. In addition, it engages in the ownership and leasing of rigs. The company was formerly known as UMW Oil & Gas Corporation Berhad and changed its name to Velesto Energy Berhad in May 2018. Velesto Energy Berhad was founded in 1988 and is headquartered in Kuala Lumpur, Malaysia.
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