Hibiscus Petroleum to ride on oil price momentum

The brokerage maintained its “buy” recommendation on Hibicus, with an unchanged sum-of-parts-based fair value of 79 sen per share.

PETALING JAYA: Rising oil prices will help boost the prospects of Hibiscus Petroleum Bhd and lift investor sentiment towards its shares.

According to AmInvestment Bank Research, the oil and gas company is currently trading at a compelling valuation amid the prevailing oil price momentum, while the group’s environmental, social and governance (ESG) quality will enhance the attractiveness of the stock.