PetroChina Company Limited to Issue Semi-annual Dividend of $0.33 (NYSE:PTR)

PetroChina Company Limited (NYSE:PTR) declared a semi-annual dividend on Tuesday, June 16th, Wall Street Journal reports. Shareholders of record on Monday, June 22nd will be given a dividend of 0.3333 per share by the oil and gas company on Monday, August 10th. This represents a yield of 4.8%. The ex-dividend date is Friday, June 19th.

PetroChina has a dividend payout ratio of 456.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect PetroChina to earn $1.45 per share next year, which means the company may not be able to cover its $1.78 annual dividend with an expected future payout ratio of 122.8%.

NYSE PTR traded down $0.22 on Tuesday, hitting $34.09. 113,300 shares of the stock were exchanged, compared to its average volume of 161,115. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.42 and a current ratio of 0.68. The stock has a fifty day moving average price of $34.73 and a two-hundred day moving average price of $40.82. The firm has a market capitalization of $62.79 billion, a P/E ratio of 23.49 and a beta of 0.94. PetroChina has a 52-week low of $27.74 and a 52-week high of $56.75.

PetroChina (NYSE:PTR) last posted its quarterly earnings data on Thursday, March 26th. The oil and gas company reported $0.66 EPS for the quarter. The company had revenue of $100.89 billion during the quarter. PetroChina had a net margin of 0.80% and a return on equity of 1.36%. Sell-side analysts expect that PetroChina will post -1.12 earnings per share for the current fiscal year.

PTR has been the subject of several recent analyst reports. HSBC lowered shares of PetroChina from a “buy” rating to a “hold” rating in a research note on Tuesday, March 10th. Credit Suisse Group raised shares of PetroChina from a “neutral” rating to an “outperform” rating in a research note on Monday. JPMorgan Chase & Co. lowered shares of PetroChina from a “neutral” rating to an “underweight” rating in a research note on Thursday, May 14th. Citigroup lowered shares of PetroChina from a “buy” rating to a “sell” rating in a research note on Wednesday, March 11th. Finally, Cfra lowered their target price on shares of PetroChina from $57.00 to $35.00 and set a “hold” rating for the company in a research note on Friday, March 27th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $38.63.

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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Dividend History for PetroChina (NYSE:PTR)

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