PetroChina Ltd. (PTR) Rating Increased to Outperform at Macquarie
PetroChina Ltd. (NYSE:PTR) was upgraded by analysts at Macquarie from a “neutral” rating to an “outperform” rating in a research report issued on Wednesday, The Fly reports.
Separately, Zacks Investment Research lowered shares of PetroChina from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 10th. Five investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. PetroChina presently has an average rating of “Hold”.
Shares of PetroChina (NYSE:PTR) traded up 1.22% during mid-day trading on Wednesday, hitting $64.84. The stock had a trading volume of 104,817 shares. The firm has a market capitalization of $118.67 billion, a price-to-earnings ratio of 81.05 and a beta of 1.19. PetroChina has a 1-year low of $52.30 and a 1-year high of $84.05. The stock’s 50-day moving average is $67.18 and its 200 day moving average is $68.25.
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The firm also recently declared a semiannual dividend, which will be paid on Monday, November 7th. Shareholders of record on Tuesday, September 13th will be paid a $0.3213 dividend. This represents a yield of 0.95%. The ex-dividend date of this dividend is Friday, September 9th. PetroChina’s dividend payout ratio is presently 71.95%.
Hedge funds have recently bought and sold shares of the company. Societe Generale acquired a new stake in PetroChina during the second quarter valued at $141,000. Tower Research Capital LLC TRC increased its position in shares of PetroChina by 141.8% in the second quarter. Tower Research Capital LLC TRC now owns 2,113 shares of the company’s stock valued at $144,000 after buying an additional 1,239 shares during the period. Pacad Investment Ltd. purchased a new position in shares of PetroChina during the second quarter valued at approximately $170,000. BNP Paribas Arbitrage SA increased its position in shares of PetroChina by 32.9% in the second quarter. BNP Paribas Arbitrage SA now owns 2,833 shares of the company’s stock valued at $192,000 after buying an additional 701 shares during the period. Finally, Veritable L.P. purchased a new position in shares of PetroChina during the second quarter valued at approximately $204,000. 0.22% of the stock is owned by institutional investors and hedge funds.
PetroChina Company Limited is an oil and gas producer and distributor. The Company’s segments are Exploration and Production, Refining and Chemicals, Marketing, and Natural Gas and Pipeline. The Company’s Exploration and Production segment is engaged in the exploration, development, production and marketing of crude oil and natural gas.
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