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Shares in PTT Pcl fell as much as 1.2 percent to 345 baht, the lowest since Jan. 31, after Thailand's biggest energy firm reported a weaker-than-expected net profit for the fourth quarter (October-December).
Analysts mainly rated the stock a "buy", citing its low valuation.
The stock looked cheap on a 9.1 times forward-price-to-earnings multiple versus Asian and global peer averages of 11.1 times and 10.2 times, Citi Research said in a report dated Jan. 25.
Seventeen out of 25 analysts tracking the company rated the stock a "buy" or "strong buy", seven put "hold" and one had "sell", according to Thomson Reuters StarMine.
Reporting by Viparat Jantraprap in Bangkok; Editing by Jijo Jacob