Investors Purchase High Volume of PetroChina Call Options (NYSE:PTR)

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PetroChina Company Limited (NYSE:PTR) was the target of some unusual options trading on Thursday. Investors bought 3,263 call options on the stock. This is an increase of approximately 3,608% compared to the average daily volume of 88 call options.

Several equities analysts have commented on the company. HSBC lowered PetroChina from a “hold” rating to a “reduce” rating in a research report on Wednesday. ValuEngine lowered PetroChina from a “sell” rating to a “strong sell” rating in a research report on Monday, July 8th. Credit Suisse Group lowered PetroChina from a “neutral” rating to an “underperform” rating in a research report on Monday, June 3rd. TheStreet lowered PetroChina from a “b-” rating to a “c+” rating in a research report on Friday, May 17th. Finally, Citigroup raised PetroChina from a “neutral” rating to a “buy” rating and set a $57.45 price objective for the company in a research report on Friday, May 24th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $71.11.

Shares of NYSE:PTR traded up $0.32 on Friday, hitting $53.08. 109,836 shares of the company traded hands, compared to its average volume of 92,468. PetroChina has a 52 week low of $47.65 and a 52 week high of $83.24. The company has a quick ratio of 0.51, a current ratio of 0.80 and a debt-to-equity ratio of 0.31. The stock has a 50 day simple moving average of $50.38 and a 200-day simple moving average of $57.98. The company has a market cap of $96.56 billion, a PE ratio of 12.34 and a beta of 1.18.

Large investors have recently modified their holdings of the company. Gabelli Funds LLC increased its holdings in shares of PetroChina by 10.5% during the second quarter. Gabelli Funds LLC now owns 4,200 shares of the oil and gas company’s stock valued at $231,000 after acquiring an additional 400 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in shares of PetroChina during the second quarter valued at $216,000. First Trust Advisors LP increased its holdings in shares of PetroChina by 14.7% during the second quarter. First Trust Advisors LP now owns 12,420 shares of the oil and gas company’s stock valued at $684,000 after acquiring an additional 1,590 shares in the last quarter. Campbell & CO Investment Adviser LLC increased its holdings in shares of PetroChina by 4.1% during the second quarter. Campbell & CO Investment Adviser LLC now owns 4,943 shares of the oil and gas company’s stock valued at $272,000 after acquiring an additional 195 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its holdings 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 acquiring an additional 557 shares in the last quarter. Hedge funds and other institutional investors own 0.23% of the company’s stock.

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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