PetroChina (PTR) Upgraded at Citigroup

PetroChina (NYSE:PTR) was upgraded by research analysts at Citigroup from a “sell” rating to a “buy” rating in a report released on Thursday, The Fly reports.

Several other equities analysts have also recently issued reports on PTR. Zacks Investment Research cut PetroChina from a “buy” rating to a “hold” rating in a research report on Monday. Macquarie cut PetroChina from an “outperform” rating to a “neutral” rating in a research report on Tuesday. Morgan Stanley cut PetroChina from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, January 2nd. Finally, Nomura started coverage on PetroChina in a research report on Wednesday, December 6th. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $83.00.

PetroChina (NYSE:PTR) opened at $74.40 on Thursday. The stock has a market capitalization of $226,300.00, a P/E ratio of 37.77 and a beta of 1.27. PetroChina has a 12-month low of $60.69 and a 12-month high of $81.80. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.79 and a quick ratio of 0.56.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its holdings in shares of PetroChina by 14.7% during the 2nd quarter. Wells Fargo & Company MN now owns 14,251 shares of the oil and gas company’s stock valued at $873,000 after buying an additional 1,828 shares during the period. First Trust Advisors LP lifted its holdings in shares of PetroChina by 17.0% during the 3rd quarter. First Trust Advisors LP now owns 31,674 shares of the oil and gas company’s stock valued at $2,031,000 after buying an additional 4,591 shares during the period. OxFORD Asset Management LLP lifted its holdings in shares of PetroChina by 4.0% during the 3rd quarter. OxFORD Asset Management LLP now owns 42,782 shares of the oil and gas company’s stock valued at $2,738,000 after buying an additional 1,665 shares during the period. Profund Advisors LLC lifted its holdings in shares of PetroChina by 12.8% during the 2nd quarter. Profund Advisors LLC now owns 40,236 shares of the oil and gas company’s stock valued at $2,466,000 after buying an additional 4,552 shares during the period. Finally, Sei Investments Co. lifted its holdings in shares of PetroChina by 6,949.6% during 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. 0.20% of the stock is currently owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: This story was originally posted by American Banking and Market News and is the property of of American Banking and Market News. If you are reading this story on another publication, it was copied illegally and republished in violation of U.S. and international copyright laws. The legal version of this story can be viewed at https://www.americanbankingnews.com/2018/01/11/petrochina-ptr-upgraded-at-citigroup.html.

About PetroChina

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.

The Fly

Analyst Recommendations for PetroChina (NYSE:PTR)