Citigroup Upgrades PetroChina (PTR) to Buy

PetroChina (NYSE:PTR) was upgraded by stock analysts at Citigroup from a “sell” rating to a “buy” rating in a report issued on Thursday, Marketbeat reports.

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

Shares of PetroChina (NYSE:PTR) traded up $0.57 during midday trading on Thursday, hitting $76.84. 104,100 shares of the stock traded hands, compared to its average volume of 133,233. The company has a market cap of $140,633.33, a price-to-earnings ratio of 40.44 and a beta of 1.25. The company has a quick ratio of 0.56, a current ratio of 0.79 and a debt-to-equity ratio of 0.22. PetroChina has a one year low of $60.69 and a one year high of $81.80.

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

A number of institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC boosted its stake in PetroChina by 7.5% during the 2nd quarter. SG Americas Securities LLC now owns 2,031 shares of the oil and gas company’s stock worth $124,000 after acquiring an additional 142 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in PetroChina by 7.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,617 shares of the oil and gas company’s stock worth $283,000 after acquiring an additional 317 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in PetroChina by 14.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,435 shares of the oil and gas company’s stock worth $210,000 after acquiring an additional 446 shares during the last quarter. Athos Capital Ltd boosted its stake in PetroChina by 13.0% during the 3rd quarter. Athos Capital Ltd now owns 8,693 shares of the oil and gas company’s stock worth $557,000 after acquiring an additional 1,000 shares during the last quarter. Finally, OxFORD Asset Management LLP boosted its stake in PetroChina by 4.0% during the 3rd quarter. OxFORD Asset Management LLP now owns 42,782 shares of the oil and gas company’s stock worth $2,738,000 after acquiring an additional 1,665 shares during the last quarter. 0.20% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for PetroChina (NYSE:PTR)

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