PetroChina Company Limited (OTCMKTS:PCCYF) Sees Significant Drop in Short Interest

PetroChina Company Limited (OTCMKTS:PCCYF) saw a large drop in short interest during the month of December. As of December 31st, there was short interest totaling 889,919 shares, a drop of 50.9% from the December 15th total of 1,812,425 shares. Based on an average daily volume of 76,388 shares, the days-to-cover ratio is currently 11.6 days. Based on an average daily volume of 76,388 shares, the days-to-cover ratio is currently 11.6 days.

PetroChina Trading Down 3.6%

PetroChina stock traded down $0.04 during midday trading on Friday, reaching $1.06. 213,968 shares of the company were exchanged, compared to its average volume of 40,133. PetroChina has a 1 year low of $0.59 and a 1 year high of $1.18. The firm’s 50-day simple moving average is $1.09 and its 200-day simple moving average is $1.00.

Wall Street Analyst Weigh In

Separately, Sanford C. Bernstein raised PetroChina to an “outperform” rating in a report on Tuesday, January 6th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy”.

PetroChina Company Profile

PetroChina Company Limited, traded over-the-counter in the U.S. as PCCYF, serves as the publicly listed arm of China National Petroleum Corporation (CNPC), one of the world’s largest integrated energy companies. Established in 1999 and headquartered in Beijing, PetroChina engages in a full range of activities across the oil and gas value chain. The company is responsible for exploration, development and production of crude oil and natural gas reserves, capitalizing on extensive onshore and offshore assets throughout China.

In its midstream operations, PetroChina develops and manages pipeline networks, storage terminals and liquefied natural gas (LNG) facilities that support the domestic energy grid.