PetroChina Company Limited (PTR) Expected to Announce Earnings of $2.27 Per Share

Wall Street brokerages forecast that PetroChina Company Limited (NYSE:PTR) will post earnings per share of $2.27 for the current quarter, Zacks reports. Zero analysts have issued estimates for PetroChina’s earnings. PetroChina posted earnings of $0.83 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 173.5%. The firm is expected to report its next quarterly earnings report on Thursday, March 29th.

According to Zacks, analysts expect that PetroChina will report full year earnings of $2.91 per share for the current fiscal year, with EPS estimates ranging from $2.14 to $3.67. For the next fiscal year, analysts anticipate that the firm will report earnings of $5.85 per share, with EPS estimates ranging from $4.23 to $7.46. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover PetroChina.

PetroChina (NYSE:PTR) last announced its earnings results on Monday, October 30th. The oil and gas company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.01). The business had revenue of $72.22 billion for the quarter. PetroChina had a return on equity of 2.08% and a net margin of 1.22%.

Several brokerages have recently weighed in on PTR. Citigroup raised shares of PetroChina from a “sell” rating to a “buy” rating in a research report on Thursday, January 11th. Zacks Investment Research raised shares of PetroChina from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a research report on Tuesday, January 9th. Macquarie cut shares of PetroChina from an “outperform” rating to a “neutral” rating in a research report on Tuesday, January 9th. Morgan Stanley cut shares of PetroChina from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, January 2nd. Finally, Nomura began coverage on shares of PetroChina in a research report on Wednesday, December 6th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $83.00.

Hedge funds have recently made changes to their positions in the company. Jane Street Group LLC acquired a new position in shares of PetroChina during the 3rd quarter valued at about $201,000. Commerzbank Aktiengesellschaft FI acquired a new position in PetroChina in the fourth quarter valued at about $202,000. Bank of New York Mellon Corp lifted its position 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 buying an additional 317 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in PetroChina by 28.5% in the third quarter. BNP Paribas Arbitrage SA now owns 4,414 shares of the oil and gas company’s stock valued at $283,000 after buying an additional 979 shares during the last quarter. Finally, Trexquant Investment LP acquired a new position in PetroChina in the third quarter valued at about $284,000. 0.20% of the stock is currently owned by hedge funds and other institutional investors.

PetroChina (PTR) opened at $82.14 on Monday. The company has a current ratio of 0.79, a quick ratio of 0.56 and a debt-to-equity ratio of 0.22. The firm has a market cap of $255,790.00, a PE ratio of 40.66 and a beta of 1.27. PetroChina has a 1 year low of $60.69 and a 1 year high of $82.19.

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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.

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Earnings History and Estimates for PetroChina (NYSE:PTR)

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