Mari Petroleum expected to rally further: Report

News Image

MG News | November 12, 2024 at 10:59 AM GMT+05:00

0:00

November 12, 2024 (MLN): Mari Petroleum Company Limited (MARI) is expected to rally further based on a discounted cash flow (DCF) model that incorporates both the company’s base reserves and implicit exploration option to reflect the company’s future work program, brokerage house KTrade noted in a report.

KTrade Research expects MARI to hit Rs534 per share. That would be again of over 22% from here.

Reserve Replacement Ratio (RRR) of 432% in 2024 has extended reserve life to 17 years – the highest within KTrade Research’s coverage cluster, it said.

RRR over the last five years has averaged over 100% supporting strong cash generation underpinning a focused exploration program over the next 5 years across a high impact license portfolio.

Mari’s gas allocations outside of the network have shielded the company from circular debt exposure and measures to enhance revenue through sustainability initiatives such as carbon offsets and diversification into data centers can provide upside risk to earnings outlook.

“We forecast a 5-year earnings CAGR of about 9% across our forecast range FY25-FY29,” the brokerage house stated.

"Over the past 12 months, MARI has outperformed the broader market by 17% and we believe outperformance is likely to continue as earnings reflect development monetization and reserve additions," it noted.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 134,299.77
290.06M
0.39%
517.42
ALLSHR 84,018.16
764.12M
0.48%
402.35
KSE30 40,814.29
132.59M
0.33%
132.52
KMI30 192,589.16
116.24M
0.49%
948.28
KMIALLSHR 56,072.25
387.69M
0.32%
180.74
BKTi 36,971.75
19.46M
-0.05%
-16.94
OGTi 28,240.28
6.19M
0.21%
58.78
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,140.00 119,450.00
115,635.00
4270.00
3.75%
BRENT CRUDE 70.63 70.71
68.55
1.99
2.90%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
1.10
1.14%
ROTTERDAM COAL MONTHLY 108.75 108.75
108.75
0.40
0.37%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 68.75 68.77
66.50
2.18
3.27%
SUGAR #11 WORLD 16.56 16.60
16.20
0.30
1.85%

Chart of the Day


Latest News
July 11, 2025 at 10:56 PM GMT+05:00

Gold price in Pakistan rises Rs2,300 per tola


July 11, 2025 at 05:49 PM GMT+05:00

PKR gains 10 paisa per USD


July 11, 2025 at 05:41 PM GMT+05:00

PSX Closing Bell: Bulls Serenade The Bourse


July 11, 2025 at 05:06 PM GMT+05:00

UBL doubles profit to Rs65bn in 1HCY25


July 11, 2025 at 04:19 PM GMT+05:00

Ideal Spinning Mills to exit spinning business



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg