Attock Petroluem probably the strongest company in the Oil & Marketing sector right now has posted its half yearly results ended on Dec 31, 2010. The PAT is 1.743 billion which translates into EPS of 25.22 which is 17% higher than EPS of 21.55 posted last year for the same period. The company also announced an interim dividend of PKR 11.5.
The company is expected to post an EPS of PKR 50 for full year with accumlated dividend of PKR 30. Considering the fact that APL is trading at PKR 380, it's P/E is 7.6 with impressive dividend yield of 7.9%. The target price of company is quoted at around PKR 420 which means capital gain of 10.5% is possible from current levels. Total return that could be achieved is 7.5% + 10.5% = 18%. I believe it's a good stock to buy and as you can see in the graph company has been doing good for the last 30 days and currently due to the correction is sliding downward which is a good opportunity to grab this strong scrip.