PetroChina (PTR) Downgraded to Neutral at Macquarie

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Macquarie cut shares of PetroChina (NYSE:PTR) from an outperform rating to a neutral rating in a report published on Tuesday, MarketBeat Ratings reports.

Other equities analysts have also issued research reports about the company. Zacks Investment Research raised PetroChina from a hold rating to a buy rating and set a $87.00 price objective on the stock in a research note on Tuesday, September 25th. Bank of America reissued a buy rating and issued a $106.00 price objective on shares of PetroChina in a research note on Monday, September 24th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $91.90.

PetroChina stock opened at $75.40 on Tuesday. The company has a current ratio of 0.82, a quick ratio of 0.54 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $149.05 billion, a price-to-earnings ratio of 42.36 and a beta of 1.42. PetroChina has a 52 week low of $62.91 and a 52 week high of $85.02.

PetroChina (NYSE:PTR) last posted its quarterly earnings data on Thursday, August 30th. The oil and gas company reported $1.38 EPS for the quarter, missing analysts’ consensus estimates of $3.97 by ($2.59). The business had revenue of $88.83 billion during the quarter. PetroChina had a return on equity of 2.72% and a net margin of 1.75%. Research analysts anticipate that PetroChina will post 7.55 earnings per share for the current year.

The firm also recently disclosed a special dividend, which will be paid on Tuesday, November 13th. Shareholders of record on Thursday, September 13th will be paid a $0.325 dividend. This represents a yield of 1.07%. The ex-dividend date is Wednesday, September 12th. PetroChina’s dividend payout ratio is currently 96.07%.

Institutional investors have recently bought and sold shares of the business. Bridgewater Associates LP boosted its stake in PetroChina by 43.9% in the second quarter. Bridgewater Associates LP now owns 30,710 shares of the oil and gas company’s stock worth $2,342,000 after purchasing an additional 9,368 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in PetroChina in the second quarter worth $1,014,000. BlackRock Inc. boosted its stake in PetroChina by 39.8% in the first quarter. BlackRock Inc. now owns 577,226 shares of the oil and gas company’s stock worth $40,255,000 after purchasing an additional 164,470 shares in the last quarter. Wells Fargo & Company MN boosted its stake in PetroChina by 65.7% in the first quarter. Wells Fargo & Company MN now owns 26,797 shares of the oil and gas company’s stock worth $1,869,000 after purchasing an additional 10,628 shares in the last quarter. Finally, US Bancorp DE raised its position in shares of PetroChina by 15.2% during the second quarter. US Bancorp DE now owns 21,094 shares of the oil and gas company’s stock worth $1,609,000 after acquiring an additional 2,780 shares during the last quarter. 0.26% of the stock is currently owned by institutional investors.

PetroChina Company Profile

PetroChina Company Limited, together with its subsidiaries, engages in a range of petroleum related products, services, and activities in Mainland China and internationally. It operates through Exploration and Production, Refining and Chemicals, Marketing, and Natural Gas and Pipeline segments. The Exploration and Production segment engages in the exploration, development, production, and marketing of crude oil and natural gas.

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Analyst Recommendations for PetroChina (NYSE:PTR)

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