PetroChina (PTR) Stock Rating Upgraded by Citigroup

Citigroup upgraded shares of PetroChina (NYSE:PTR) from a sell rating to a buy rating in a research note issued to investors on Thursday, Marketbeat reports.

Several other research analysts have also recently issued reports on PTR. Zacks Investment Research raised PetroChina from a hold rating to a buy rating and set a $83.00 price target on the stock in a report on Tuesday, January 9th. Macquarie cut PetroChina from an outperform rating to a neutral rating in a report on Tuesday, January 9th. Morgan Stanley cut PetroChina from an overweight rating to an equal weight rating in a report on Tuesday, January 2nd. Finally, Nomura assumed coverage on PetroChina in a report on Wednesday, December 6th. They issued a buy rating on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $83.00.

Shares of PetroChina (NYSE:PTR) traded up $0.57 during trading hours on Thursday, reaching $76.84. The company had a trading volume of 104,100 shares, compared to its average volume of 133,233. PetroChina has a 1 year low of $60.69 and a 1 year high of $81.80. The company has a market capitalization of $140,633.33, a PE ratio of 40.44 and a beta of 1.25. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.56 and a current ratio of 0.79.

PetroChina (NYSE:PTR) last announced its earnings results on Monday, October 30th. The oil and gas company reported $0.45 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.01). PetroChina had a return on equity of 2.08% and a net margin of 1.22%. equities analysts predict that PetroChina will post 3.22 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its holdings in shares of PetroChina by 5.6% in the second quarter. Dimensional Fund Advisors LP now owns 444,854 shares of the oil and gas company’s stock valued at $27,265,000 after buying an additional 23,637 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of PetroChina by 18.7% in the second quarter. Renaissance Technologies LLC now owns 396,700 shares of the oil and gas company’s stock valued at $24,310,000 after buying an additional 62,600 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of PetroChina in the second quarter valued at $8,506,000. BT Investment Management Ltd purchased a new position in PetroChina during the 2nd quarter worth approximately $6,507,000. Finally, JPMorgan Chase & Co. grew its position in PetroChina by 3,221.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 46,104 shares of the oil and gas company’s stock worth $2,825,000 after purchasing an additional 44,716 shares in the last quarter. 0.20% of the stock is currently owned by institutional investors.

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About PetroChina

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.

Analyst Recommendations for PetroChina (NYSE:PTR)

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