PetroChina (PTR) Downgraded to Neutral at Macquarie

Macquarie lowered shares of PetroChina (NYSE:PTR) from an outperform rating to a neutral rating in a report published on Tuesday morning, MarketBeat.com reports.

Several other research analysts also recently commented on the company. Zacks Investment Research downgraded PetroChina from a strong-buy rating to a hold rating in a research report on Monday, August 13th. Bank of America restated a buy rating and set a $106.00 price objective on shares of PetroChina in a research report on Monday, September 24th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $91.90.

Shares of NYSE PTR opened at $75.40 on Tuesday. The company has a current ratio of 0.82, a quick ratio of 0.54 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $149.05 billion, a price-to-earnings ratio of 42.36 and a beta of 1.42. PetroChina has a 12 month low of $62.91 and a 12 month high of $85.02.

PetroChina (NYSE:PTR) last issued its quarterly earnings results on Thursday, August 30th. The oil and gas company reported $1.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.97 by ($2.59). The business had revenue of $88.83 billion during the quarter. PetroChina had a return on equity of 2.72% and a net margin of 1.75%. On average, research analysts forecast that PetroChina will post 7.55 earnings per share for the current fiscal year.

The company also recently disclosed a special dividend, which will be paid on Tuesday, November 13th. Stockholders of record on Thursday, September 13th will be given a dividend of $0.325 per share. This represents a dividend yield of 1.07%. The ex-dividend date of this dividend is Wednesday, September 12th. PetroChina’s dividend payout ratio is presently 96.07%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bridgewater Associates LP increased its position in shares of PetroChina by 43.9% during the second quarter. Bridgewater Associates LP now owns 30,710 shares of the oil and gas company’s stock valued at $2,342,000 after purchasing an additional 9,368 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of PetroChina during the second quarter valued at approximately $1,014,000. BlackRock Inc. increased its position in shares of PetroChina by 39.8% during the first quarter. BlackRock Inc. now owns 577,226 shares of the oil and gas company’s stock valued at $40,255,000 after purchasing an additional 164,470 shares during the period. Wells Fargo & Company MN increased its position in shares of PetroChina by 65.7% during the first quarter. Wells Fargo & Company MN now owns 26,797 shares of the oil and gas company’s stock valued at $1,869,000 after purchasing an additional 10,628 shares during the period. Finally, US Bancorp DE increased its position in shares of PetroChina by 15.2% during the second quarter. US Bancorp DE now owns 21,094 shares of the oil and gas company’s stock valued at $1,609,000 after purchasing an additional 2,780 shares during the period. Institutional investors and hedge funds own 0.26% of the company’s stock.

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.

Further Reading: Should you buy a closed-end mutual fund?

Analyst Recommendations for PetroChina (NYSE:PTR)

Receive News & Ratings for PetroChina Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PetroChina and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply