Brokerages Set PetroChina Company Limited (NYSE:PTR) Price Target at $39.45

PetroChina Company Limited (NYSE:PTR) has received an average recommendation of “Buy” from the six brokerages that are currently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $39.45.

Several analysts have recently commented on the company. UBS Group downgraded PetroChina from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 29th. The Goldman Sachs Group lifted their price objective on shares of PetroChina from $63.00 to $68.00 and gave the company a “conviction-buy” rating in a research note on Thursday, May 27th. HSBC lowered shares of PetroChina from a “buy” rating to a “hold” rating in a research report on Friday, August 27th. Zacks Investment Research downgraded shares of PetroChina from a “strong-buy” rating to a “hold” rating and set a $46.00 price target for the company. in a research note on Monday, August 16th. Finally, JPMorgan Chase & Co. raised shares of PetroChina from a “neutral” rating to an “overweight” rating in a research note on Thursday, June 17th.

Several institutional investors have recently added to or reduced their stakes in PTR. BlackRock Inc. lifted its holdings in shares of PetroChina by 115.8% in the 2nd quarter. BlackRock Inc. now owns 310,971 shares of the oil and gas company’s stock worth $15,248,000 after acquiring an additional 166,887 shares during the last quarter. Marshall Wace North America L.P. lifted its holdings in PetroChina by 242.4% during the 2nd quarter. Marshall Wace North America L.P. now owns 153,720 shares of the oil and gas company’s stock valued at $7,538,000 after buying an additional 108,823 shares in the last quarter. Credit Suisse AG bought a new stake in PetroChina during the 2nd quarter valued at about $4,873,000. Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in PetroChina by 224.6% during the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 142,500 shares of the oil and gas company’s stock valued at $6,987,000 after buying an additional 98,600 shares in the last quarter. Finally, LMR Partners LLP bought a new stake in PetroChina during the 2nd quarter valued at about $2,650,000. Hedge funds and other institutional investors own 0.22% of the company’s stock.

PetroChina stock traded up $1.58 during trading hours on Friday, reaching $48.63. 5,743 shares of the company’s stock were exchanged, compared to its average volume of 213,054. The company has a quick ratio of 0.63, a current ratio of 0.91 and a debt-to-equity ratio of 0.19. The firm’s 50 day simple moving average is $42.91 and its 200 day simple moving average is $41.15. PetroChina has a twelve month low of $27.67 and a twelve month high of $51.16. The firm has a market capitalization of $89.00 billion, a PE ratio of 5.65, a PEG ratio of 0.13 and a beta of 0.86.

PetroChina (NYSE:PTR) last issued its earnings results on Thursday, August 26th. The oil and gas company reported $2.15 EPS for the quarter. The company had revenue of $99.86 billion during the quarter. PetroChina had a return on equity of 7.43% and a net margin of 4.60%. Analysts anticipate that PetroChina will post 6.98 EPS for the current year.

The firm also recently disclosed a dividend, which was paid on Thursday, September 9th. Shareholders of record on Thursday, September 9th were paid a $1.789 dividend. This is a boost from PetroChina’s previous dividend of $0.32. The ex-dividend date of this dividend was Wednesday, September 8th. PetroChina’s dividend payout ratio (DPR) is presently 246.90%.

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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