PetroChina (NYSE:PTR) Raised to Buy at StockNews.com

StockNews.com upgraded shares of PetroChina (NYSE:PTRGet Rating) from a hold rating to a buy rating in a report issued on Friday morning.

A number of other equities research analysts also recently issued reports on the stock. Citigroup downgraded shares of PetroChina from a neutral rating to a sell rating in a research report on Tuesday, January 4th. Zacks Investment Research downgraded PetroChina from a strong-buy rating to a hold rating and set a $47.00 price objective for the company. in a research report on Wednesday, March 16th. One analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $39.78.

PTR stock opened at $50.26 on Friday. The firm has a 50 day moving average of $51.80 and a 200-day moving average of $49.04. PetroChina has a 12-month low of $34.53 and a 12-month high of $57.87. The company has a current ratio of 0.90, a quick ratio of 0.66 and a debt-to-equity ratio of 0.20. The company has a market cap of $91.99 billion, a price-to-earnings ratio of 6.48 and a beta of 0.65.

The business also recently disclosed a Semi-Annual dividend, which will be paid on Monday, August 8th. Stockholders of record on Friday, June 17th will be paid a dividend of $1.341 per share. The ex-dividend date is Thursday, June 16th. This is a boost from PetroChina’s previous Semi-Annual dividend of $1.34. This represents a dividend yield of 6.1%. PetroChina’s payout ratio is currently 46.13%.

Several hedge funds and other institutional investors have recently made changes to their positions in PTR. Arrowstreet Capital Limited Partnership grew its stake in shares of PetroChina by 43.3% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 827,922 shares of the oil and gas company’s stock valued at $38,730,000 after buying an additional 250,139 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in PetroChina during the 3rd quarter worth $6,045,000. Toroso Investments LLC purchased a new stake in PetroChina during the 3rd quarter worth $5,950,000. O Shaughnessy Asset Management LLC boosted its position in PetroChina by 301.4% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 167,822 shares of the oil and gas company’s stock worth $7,851,000 after purchasing an additional 126,018 shares during the period. Finally, Marshall Wace LLP boosted its position in PetroChina by 60.7% during the 3rd quarter. Marshall Wace LLP now owns 261,294 shares of the oil and gas company’s stock worth $12,223,000 after purchasing an additional 98,743 shares during the period.

PetroChina Company Profile (Get Rating)

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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