• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Opinions Blurb

[Like Magic] Forte Oil’s Share Price Floats to a New Year High….But is This Why?

Nairametrics by Nairametrics
August 30, 2015
in Blurb, Spotlight, Stock Market
[Like Magic] Forte Oil’s Share Price Floats to a New Year High….But is This Why?
Share on FacebookShare on TwitterShare on Linkedin

There are several reasons why you should invest in the Nigerian Stock Exchange and there are several reasons why you probably should not. The Nigerian stock market is perhaps the only market where a stock can be trading in multiples 100 times its profits even though it just declared a poor result. It is also a market where a stock that has just released a great result will be trading at just twice its profits. P/E ratios are hardly the best metrics for valuing stocks.

This peculiarity is perhaps why Forte Oil share price has consistently traded at a price multiple of between 80 and 100 times its earnings per share without the market . The company began the month at a price of about N184.5 just shortly after it released its 2015 Half year results which we analysed accordingly.

We did suggest at the time that we only saw an upside for this stock despite the fundamentals being an odds with the price. The stock was the best for the month of August gaining a whopping 32.9%.

RelatedStories

Weekly Stock Update: Nigerian Exchange Group record growth w-o-w, up by 0.48%

UBA, three other heavyweights drive explosive rally as All-Share Index eyes N80 trillion 

July 11, 2025
FTN COCOA, UNITY BANK leads as NGX top gainers for the week

ACCESSCORP leads trading value as All-Share Index rises 0.28%; five stocks hit daily gain limit 

July 9, 2025
Returns (%)FONSE
1 Day Change52.1
1 Week Change9.27-3.56
1 Month Change35.44-5.88
6 Month Change17.1-4.28
52 Week Change10.67-30.33

So why the rally and will it last?

From all indications Nairametrics believes this rally is mostly influenced by an impending announcement. We have heard rumors that the company is set to raise (or may have even raised) some capital for it to be able to compete effectively in the upstream space.

Predicting how long the rally will last is dicey. It has gained over 30% already this month and could still have another 10-15% capabilities. It gained 5% on Friday alone and as kept up volumes at about 200,000 units a day or about N45million in value. The relative strength index shows it is over bought at over 80x but relying on technicals for this stock will be as foolhardy as relying on fundamentals.

Technicals and fundamentals should be out of the window when the upper trajectory of a stock is being propelled by some ‘friendly’ inertia.

 

Tags: All Share IndexForte OilNigerian stock marketNigerian StocksOil & Gasoil price
Nairametrics

Nairametrics

Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

Related Posts

Weekly Stock Update: Nigerian Exchange Group record growth w-o-w, up by 0.48%
Equities

UBA, three other heavyweights drive explosive rally as All-Share Index eyes N80 trillion 

July 11, 2025
FTN COCOA, UNITY BANK leads as NGX top gainers for the week
Equities

ACCESSCORP leads trading value as All-Share Index rises 0.28%; five stocks hit daily gain limit 

July 9, 2025
Seplat Energy
Equities

SEPLAT posts N13.5 billion in trades as All-Share Index eyes 121,000 level, mid-cap stocks shine 

July 4, 2025
Weekly Stock Update: Nigerian Exchange Group record growth w-o-w, up by 0.48%
Equities

CUTIX, ELLAHLAKES, others rally 10% as All-Share Index reclaims 120,000 level 

July 3, 2025
Stock market kicks off September in the red: ASI slips 0.15% amid declining trading volume 
Equities

Nigerian Stocks start July in red as All-Share Index slips 0.2%; Ellah Lakes leads daily volume 

July 2, 2025
Weekly Stock Update: Nigerian Exchange Group record growth w-o-w, up by 0.48%
Equities

Nigerian stock market soars 16.57% in the first half of 2025 — Top sectors behind the rally 

July 2, 2025
Next Post
[Analysis] CBN post 84% drop in profits for FY 2014

Recently Released MPC Minutes Reveals How Divided The CBN Is On Its Forex Policy

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • Canadian province shuts family reunification intake for spouses, adult dependent children until June 2026 
  • Lagos State orders immediate halt to reclamation activities at Orange Island over drainage violations 
  • FG sets new rule mandating SON certificate for contractors bidding on public projects

Follow us on social media:

Recent News

Canada

Canadian province shuts family reunification intake for spouses, adult dependent children until June 2026 

July 12, 2025
Lagos State orders immediate halt to reclamation activities at Orange Island over drainage violations 

Lagos State orders immediate halt to reclamation activities at Orange Island over drainage violations 

July 12, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics