Zacks Investment Research downgraded shares of PetroChina (NYSE:PTR) from a buy rating to a hold rating in a research note released on Monday, March 12th.
According to Zacks, “ADRs of PetroChina have declined 5% over the last year, underperforming the Zacks International Integrated Energy industry, which has gained 8% over the same period. But with higher commodity prices and operational efficiency helping the state-run giant report strong Q3 results, the stock might return to favor. A tight leash on oil and gas lifting expenses that decreased 1.9% from the same period last year, also helped results. The energy titan also experienced strong natural gas demand, while operational optimization helped control costs. However, we are concerned over China’s decision to cut natural gas prices for industrial users that reduced margins in PTR’s gas-wholesale business. A limited international operation and an ambitious investment program give investors more reason to be cautious on the stock.”
PTR has been the subject of a number of other research reports. Citigroup upgraded PetroChina from a sell rating to a buy rating in a report on Thursday, January 11th. Morgan Stanley upgraded PetroChina from an equal weight rating to an overweight rating in a research note on Thursday, February 22nd. Macquarie cut PetroChina from an outperform rating to a neutral rating in a research note on Tuesday, January 9th. Finally, Nomura began coverage on PetroChina in a research note on Wednesday, December 6th. They issued a buy rating for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $83.00.
Shares of PTR stock traded down $0.93 during trading hours on Monday, hitting $67.52. The stock had a trading volume of 21,217 shares, compared to its average volume of 138,234. PetroChina has a 12 month low of $60.69 and a 12 month high of $82.33. The company has a market capitalization of $125,277.87, a PE ratio of 36.03 and a beta of 1.45. The company has a current ratio of 0.79, a quick ratio of 0.56 and a debt-to-equity ratio of 0.22.
Several large investors have recently made changes to their positions in PTR. First Trust Advisors LP increased its holdings in shares of PetroChina by 17.0% during the third quarter. First Trust Advisors LP now owns 31,674 shares of the oil and gas company’s stock worth $2,031,000 after buying an additional 4,591 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of PetroChina by 28.5% during the third quarter. BNP Paribas Arbitrage SA now owns 4,414 shares of the oil and gas company’s stock worth $283,000 after buying an additional 979 shares in the last quarter. Sei Investments Co. increased its holdings in shares of PetroChina by 6,949.6% during the third quarter. Sei Investments Co. now owns 33,133 shares of the oil and gas company’s stock worth $2,124,000 after buying an additional 32,663 shares in the last quarter. Trexquant Investment LP acquired a new position in shares of PetroChina during the third quarter worth $284,000. Finally, Cadence Capital Management LLC acquired a new position in shares of PetroChina during the third quarter worth $938,000. Institutional investors own 0.23% of the company’s stock.
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PetroChina Company Profile
PetroChina Company Limited is a China-based company principally engaged in the production and distribution of oil and gas. The Company mainly operates through four business segments. The Exploration and Production segment is principally engaged in the exploration, development, production and sales of crude oil and natural gas.
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