PetroChina (PTR) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of PetroChina (NYSE:PTR) from a hold rating to a buy rating in a research note issued to investors on Thursday. They currently have $80.00 price objective on the oil and gas company’s stock.

According to Zacks, “ADRs of PetroChina have increased 14.1% over the past six months, outperforming the broader industry, which has gained 7.5% over the same period. The company recently bought stakes in two offshore oil concessions from ADNOC which is expected to optimize its asset portfolio along with boosting its revenues and profits. Being one of the two Chinese integrated oil firms, PTR is already well-positioned to capitalize on the country’s growing natural gas demand. The state-run giant reported strong results last quarter on the back of operational efficiency and recovering commodity prices. We also like its robust portfolio of assets and strong balance sheet, which make it better suited to handle erratic market conditions than most of its peers. As such, we take a bullish stance on the prospects of the stock.”

How to Become a New Pot Stock Millionaire

A number of other equities analysts have also issued reports on PTR. Nomura started coverage on shares of PetroChina in a research report on Wednesday, December 6th. They set a buy rating on the stock. Morgan Stanley lowered shares of PetroChina from an overweight rating to an equal weight rating in a research report on Tuesday, January 2nd. Macquarie lowered shares of PetroChina from an outperform rating to a neutral rating in a research report on Tuesday, January 9th. Finally, Citigroup raised shares of PetroChina from a sell rating to a buy rating in a research report on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $80.00.

PetroChina stock opened at $68.39 on Thursday. PetroChina has a 52-week low of $60.69 and a 52-week high of $82.33. The stock has a market cap of $125,168.05, a price-to-earnings ratio of 35.99 and a beta of 1.45. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.56 and a current ratio of 0.79.

A number of institutional investors have recently made changes to their positions in PTR. BlackRock Inc. increased its holdings in PetroChina by 195.3% in the 4th quarter. BlackRock Inc. now owns 412,756 shares of the oil and gas company’s stock valued at $28,868,000 after buying an additional 272,964 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in PetroChina by 32.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 536,564 shares of the oil and gas company’s stock valued at $37,527,000 after buying an additional 132,455 shares during the period. Boston Partners bought a new stake in PetroChina in the 4th quarter valued at $3,363,000. Sei Investments Co. increased its holdings in PetroChina by 6,949.6% in the 3rd quarter. Sei Investments Co. now owns 33,133 shares of the oil and gas company’s stock valued at $2,124,000 after buying an additional 32,663 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in PetroChina by 4.0% in the 4th quarter. Renaissance Technologies LLC now owns 700,700 shares of the oil and gas company’s stock valued at $49,007,000 after buying an additional 26,900 shares during the period. 0.23% of the stock is currently owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION WARNING: “PetroChina (PTR) Lifted to Buy at Zacks Investment Research” was reported by Ticker Report and is the property of of Ticker Report. If you are reading this story on another publication, it was stolen and republished in violation of international copyright legislation. The correct version of this story can be viewed at https://www.tickerreport.com/banking-finance/3301798/petrochina-ptr-lifted-to-buy-at-zacks-investment-research.html.

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.

Get a free copy of the Zacks research report on PetroChina (PTR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.

Latest News

Novartis  Shares Gap Down to $81.70
Novartis Shares Gap Down to $81.70
Northern Oil and Gas  Bonds Rise 5.5% During Trading
Northern Oil and Gas Bonds Rise 5.5% During Trading
Post  Bonds Trading 1.8% Lower
Post Bonds Trading 1.8% Lower
Analyzing Dicks Sporting Goods  and Barnes & Noble Education
Analyzing Dicks Sporting Goods and Barnes & Noble Education
FuckToken Price Reaches $0.0166 on Major Exchanges
FuckToken Price Reaches $0.0166 on Major Exchanges
Quantum  versus Western Digital  Financial Survey
Quantum versus Western Digital Financial Survey


© 2006-2018 Ticker Report. Google+.