PTTEP Gains 4.5% on the Back of Recovering Oil Prices and Strong 4Q Performance

The share price of PTT Exploration and Production Public Company Limited (SET: PTTEP) closed in the morning session on November 23, at 193.50 baht per share, increased 8.50 baht or 4.59%. The highest price was at 193.50 per share, and the lowest at 187.50 per share, with a total trading value of THB 2,409.91 million.


InnovestX Securities Co., Ltd (INVX) said in the research on November 23, that PTTEP will receive the benefit from the oil price that recovered to the higher level. In 2022, INVX forecast the net profit will strongly increase by 91% from the same period a year earlier at 72 billion baht. INVX expected some upside, considering PTTEP’s strong profit in the third quarter.