tinnhanhchungkhoan.vn – Big Wave is now emerging in the oil and gas stocks. Big stocks like DPM, GAS and PGD are under highly profitable enterprises with big “cash” on the market today.
The stock of Petrovietnam Fertilizer and Chemicals Corporation (DPM) has increased from 33,000 – 40,000 VND/share over the last one month. The rising momentum initially came from the fact that DPM’s after-tax profits reached 1,939 billion dongs over the first 6 months, increasing 34% compared to the end of last year. Particularly in Quarter II, 2012, the sales volume of DPM and the urea selling price were increased 16% and 21% respectively compared to the same period last year.
However, after fluctuating at 35,000 dongs/share, DPM stock rocketed to 40,000 dongs/share, mainly due to the rumors on stock split in the ratio of 2:1. It is because that DPM is eligible to perform this operation according to their financial report in Quarter II, 2012. With its chartered capital of 3,800 billion dongs, DPM has more than 2,600 billion dongs of undistributed profit and 1,400 billion dongs for development and investment fund.
By the end of July, DPM was estimated to reach 8,300 billion dongs in revenue which equivalent to 60% of the year’s plan and 2,100 billion dongs in after-tax profit exceeding 19% of the year’s plan.
It is said by Ms. Nguyen Thi Hien – DPM’s announcer – that in recent years, many financial and security advisory and investment organizations have contacted DPM to introduce the finance and securities services which included the stock split operation. However, leaders of DPM have no further guidance on this issue.
It is said by Ho Chi Minh City Securities Corporation (HSC) that it’s hard for DPM to make any important decision as the issue of Ca Mau urea has not been resolved yet. The issue of Ca Mau urea may take 12 months or more for the Government to approve final settlements for the project.
As for dividends planning of 2012 approved in the shareholders’ meeting, the Board of Directors of DPM has planned for cash dividend in advance, but how much is the advance will officially be confirmed after the final approval from the major shareholder – Petrovietnam Oil and Gas Group (PVN). The payment is expected to be made in Quarter III, 2012.
It is estimated by some investment organizations that DPM’s profit in 2012 is about 2,900 billion dongs which makes 30% of dividends turn into 1,140 billion dongs. In 2011, DPM had paid 35% (par value) dividends  in cash, therefore, it is expected that DPM will pay higher than 30% rate of dividends this year.
Last month, PGD stock of Petrovietnam Low Pressure Gas Joint Stock Company also increased from 30,000 to 42,000 VND/share. PGD has its chartered capital of 429 billion dongs, undistributed profits of 382 billion dongs and development and investment fund of 429 billion dongs. Earning per share (EPS) in the first 6 months of PGD is 8,900 dongs. Price/Earning ratio (P/E) is 3.4 according to the current price.
Sharing the same business operation fields with PGD, CNG Vietnam Joint Stock Company (CNG) has no outstanding business results like PGD’s in terms of EPS targets in the first half of the year. Accumulated over the first 6 months, CNG reached 70 billion dongs of profits which decreased 41% compared to the same period last year due to increasing price of goods sold. However, in recent trading sessions, CNG stock has increased to 28,000 – 29,000 dongs/share after fluctuating at 26,000 dongs/share one month before.
The stock that should be especially paid attention on was GAS stock of Petrovietnam Gas Joint Stock Corporation. GAS stock has 4 consecutive increasing sessions after the information that it has been selected into MSCI Frontier Index from August 31. Particularly, in the previous session last week, GAS stock was traded with a mutative surging amount of 2.4 million units (the previous session was 700,000 units), compared to the common amount from some thousands to three hundred thousands each session over the last one month.
With a mutative trading volume last week, does the GAS stock have strong demand enough to keep increasing or the investors are freeing their goods? As reported in the consolidated report on business performance in the first half of the year, GAS has the after-tax profit of 4,886 billion dongs, in which the profits for shareholders of the Headquarters covered 4,607 billion dongs. EPS reached 2,431 dongs over 6 months. Cash and cash equivalents by the end of Quarter II were 11,844 billion dongs.
It is commented by one securities company that at the price of 41,600 dongs/share, P/E index of GAS stock  in 2012 is reasonably expected at about 10 times. However, GAS is a notable stocks with large amount of cash and potential to be bought by foreign investors (regardless of not immediately) when the stock was calculated according to MSCI index. In general, most of the stocks in oil and gas family that caused “wave” over last weeks are all good stocks and worthy to become backbones of the market.