Equities Analysts Set Expectations for PetroChina Company Limited’s FY2017 Earnings (PTR)

PetroChina Company Limited (NYSE:PTR) – Analysts at Jefferies Group cut their FY2017 EPS estimates for PetroChina in a research report issued on Tuesday. Jefferies Group analyst L. Yu now forecasts that the oil and gas company will earn $3.67 per share for the year, down from their previous forecast of $4.28. Jefferies Group also issued estimates for PetroChina’s Q4 2017 earnings at $2.27 EPS, FY2018 earnings at $7.46 EPS, FY2019 earnings at $8.87 EPS and FY2020 earnings at $11.31 EPS.

PetroChina (NYSE:PTR) last issued its quarterly earnings data on Monday, October 30th. The oil and gas company reported $0.45 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.01). PetroChina had a net margin of 1.22% and a return on equity of 2.08%.

A number of other brokerages have also recently weighed in on PTR. Zacks Investment Research cut PetroChina from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Macquarie cut PetroChina from an “outperform” rating to a “neutral” rating in a research note on Tuesday, January 9th. Citigroup raised PetroChina from a “sell” rating to a “buy” rating in a research note on Thursday, January 11th. Morgan Stanley cut PetroChina from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, January 2nd. Finally, Nomura began coverage on PetroChina in a research note on Wednesday, December 6th. They issued a “buy” rating for the company. One equities research 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. The company has an average rating of “Hold” and a consensus price target of $83.00.

Shares of PetroChina (NYSE PTR) traded down $0.10 during midday trading on Friday, hitting $74.95. The stock had a trading volume of 115,000 shares, compared to its average volume of 129,908. PetroChina has a twelve month low of $60.69 and a twelve 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. The firm has a market capitalization of $236,040.00, a PE ratio of 37.66 and a beta of 1.27.

A number of large investors have recently added to or reduced their stakes in PTR. SG Americas Securities LLC boosted its holdings in PetroChina by 7.5% in the second quarter. SG Americas Securities LLC now owns 2,031 shares of the oil and gas company’s stock valued at $124,000 after purchasing an additional 142 shares during the period. Jane Street Group LLC purchased a new position in PetroChina in the third quarter valued at $201,000. BNP Paribas Arbitrage SA boosted its holdings in PetroChina by 14.9% in the second quarter. BNP Paribas Arbitrage SA now owns 3,435 shares of the oil and gas company’s stock valued at $210,000 after purchasing an additional 446 shares during the period. Bank of New York Mellon Corp boosted its holdings in PetroChina by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 4,617 shares of the oil and gas company’s stock valued at $283,000 after purchasing an additional 317 shares during the period. Finally, Trexquant Investment LP purchased a new position in PetroChina in the third quarter valued at $284,000. Hedge funds and other institutional investors own 0.20% of the company’s stock.

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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.

Earnings History and Estimates for PetroChina (NYSE:PTR)

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