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PTTEP Surges on Profit, Oil - Brokerages Target 160-174 Baht

PTTEP Surges on Profit, Oil - Brokerages Target 160-174 Baht

Post Today•Economy•8d ago

Reader Briefing

PTTEP's stock price rose significantly due to strong Q1/69 earnings that surpassed expectations, coupled with rising oil prices driven by Middle East geopolitical tensions.

  • •PTTEP's stock reached 156 baht, up 2 baht, on May 5, 2026, with trading value of 2,068.17 million baht.
  • •Q1/69 net profit was 11.8 billion baht, 45% better than Bloomberg consensus and 42% above analyst estimates.
  • •Rising oil prices and geopolitical tensions in the Middle East are seen as key drivers for PTTEP's performance.

Overview

  • •On May 5, 2026, at 2:43 PM, PTTEP's stock price reached 156 baht.
  • •PTTEP's Q1/69 net profit was 11.8 billion baht, a decrease of -29% YoY and -32% QoQ.
  • •PTTEP's Q1/69 profit was 45% higher than Bloomberg consensus and 42% higher than analyst estimates.
  • •The stock price increase is attributed to better-than-expected Q1/69 earnings and rising oil prices.
  • •Geopolitical tensions in the Middle East, including attacks on the Fujairah oil hub in the UAE, contributed to concerns about energy infrastructure.
  • •Average selling price (ASP) for PTTEP's liquids increased by 8% QoQ to US$46.0/BOE in Q1/69.
  • •Several brokerages reiterated 'Buy' recommendations for PTTEP with price targets ranging from 160 to 174 baht.
  • •Analysts predict continued positive impact on PTTEP's earnings in Q2/69 and H2/69 due to sustained high oil prices.

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Key Entities

Organization

PTT Exploration and Production Public Company Limited(บริษัท ปตท.สํารวจและผลิตปิโตรเลียม จํากัด (มหาชน))ℹ️
A Thai oil and gas company whose stock performance and quarterly earnings are the subject of the article.
PTTEPℹ️
The stock ticker symbol for PTT Exploration and Production Public Company Limited, the focus of the article.
KGI Securities(บล.เคจีไอ)
A brokerage firm that provided an analysis of PTTEP's Q1/69 financial performance.
Bloombergℹ️
A financial data and media company whose consensus estimates for PTTEP's Q1/69 earnings were referenced.
DBS Vickers(ดอย)
A brokerage firm that analyzed PTTEP's earnings outlook for Q2/69 and Q3/69, as well as setting a price target.
Krungsri Securities(บล.กรุงศรี)
A securities company that provided an outlook on PTTEP's Q1/69 earnings and adjusted their price target and recommendation.
Finansia Syrus Securities(บล.ฟินันเซีย ไซรัส)
A brokerage firm that recommended 'speculative buy' for PTTEP, citing positive factors for H1/69 and the full year 2026.
DAOL (Thailand)(บล.ดาโอ (ประเทศไทย))
A brokerage firm that recommended 'Buy' for PTTEP with a price target, adjusting earnings forecasts.

Place

Iran(อิหร่าน)ℹ️
A country whose actions, including missile and drone attacks, have contributed to geopolitical tensions in the Middle East and impacted oil prices.
United States(สหรัฐฯ)ℹ️
A country involved in the geopolitical tensions in the Middle East affecting oil prices, mentioned in relation to the conflict with Iran.
Middle East(ตะวันออกกลาง)ℹ️
A region where escalating geopolitical tensions are impacting oil prices and consequently PTTEP's performance.
Strait of Hormuz(ช่องแคบฮอร์มุซ)ℹ️
A key waterway for oil transport where increased geopolitical tensions and resulting disruptions to shipping are influencing oil prices.
United Arab Emirates(สหรัฐอาหรับเอมิเรตส์)ℹ️
A country whose oil infrastructure, specifically the Fujairah oil hub, was affected by attacks, contributing to concerns about energy security and oil prices.
Fujairah(ฟูจาอิราห์)ℹ️
An oil hub in the UAE that was impacted by missile and drone attacks, exacerbating concerns about energy infrastructure and oil prices.