Daiwa Capital Markets Initiates Coverage on PetroChina (NYSE:PTR)

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Daiwa Capital Markets assumed coverage on shares of PetroChina (NYSE:PTR) in a report released on Monday, Briefing.com Automated Import reports. The brokerage issued an outperform rating on the oil and gas company’s stock.

PTR has been the topic of a number of other research reports. Zacks Investment Research upgraded Global Ship Lease from a hold rating to a strong-buy rating and set a $7.75 price target on the stock in a research report on Monday, June 3rd. Citigroup set a $27.00 price objective on PhaseBio Pharmaceuticals and gave the company a buy rating in a research note on Friday, May 24th. Goldman Sachs Group lowered E.ON SE Sponsored ADR (Germany) from a buy rating to a neutral rating in a research note on Tuesday, May 14th. ValuEngine lowered ENN ENERGY HOLD/ADR from a buy rating to a hold rating in a research note on Tuesday, March 26th. Finally, Credit Suisse Group reduced their price objective on FOX from $51.00 to $45.00 and set an outperform rating on the stock in a research note on Monday, June 3rd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $71.11.

PTR opened at $54.85 on Monday. PetroChina has a 1-year low of $53.86 and a 1-year high of $83.24. The firm has a fifty day simple moving average of $55.47. The company has a current ratio of 0.88, a quick ratio of 0.58 and a debt-to-equity ratio of 0.13. The company has a market cap of $99.84 billion, a PE ratio of 12.69 and a beta of 1.19.

PetroChina (NYSE:PTR) last issued its quarterly earnings results on Monday, April 29th. The oil and gas company reported $0.40 EPS for the quarter. PetroChina had a return on equity of 3.72% and a net margin of 2.20%. The company had revenue of $95.38 billion for the quarter. Analysts predict that PetroChina will post 4.38 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in PTR. Lindbrook Capital LLC boosted its stake in shares of PetroChina by 225.6% during the first quarter. Lindbrook Capital LLC now owns 407 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 282 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of PetroChina by 53.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,384 shares of the oil and gas company’s stock valued at $86,000 after purchasing an additional 485 shares in the last quarter. NINE MASTS CAPITAL Ltd acquired a new stake in shares of PetroChina during the fourth quarter valued at about $142,000. BNP Paribas Arbitrage SA boosted its stake in shares of PetroChina by 26.7% during the first quarter. BNP Paribas Arbitrage SA now owns 2,646 shares of the oil and gas company’s stock valued at $173,000 after purchasing an additional 557 shares in the last quarter. Finally, World Asset Management Inc acquired a new stake in shares of PetroChina during the first quarter valued at about $209,000. 0.23% of the stock is currently owned by hedge funds and other institutional investors.

About PetroChina

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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