PetroChina (PTR) Cut to “Equal Weight” at Morgan Stanley

PetroChina (NYSE:PTR) was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Tuesday.

Several other research analysts have also weighed in on PTR. Nomura assumed coverage on PetroChina in a report on Wednesday, December 6th. They set a “buy” rating on the stock. Zacks Investment Research upgraded PetroChina from a “hold” rating to a “buy” rating and set a $76.00 target price on the stock in a report on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $76.00.

PetroChina (NYSE PTR) traded up $1.64 during mid-day trading on Tuesday, reaching $71.58. The company’s stock had a trading volume of 40,067 shares, compared to its average volume of 99,404. 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 company has a market capitalization of $216,050.00, a price-to-earnings ratio of 36.52 and a beta of 1.26. PetroChina has a 52-week low of $60.69 and a 52-week high of $81.80.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN raised its stake in shares of PetroChina by 14.7% in 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 purchasing an additional 1,828 shares during the period. NorthCoast Asset Management LLC acquired a new stake in shares of PetroChina in the second quarter valued at about $1,204,000. First Trust Advisors LP increased its position in shares of PetroChina by 17.0% in the third quarter. First Trust Advisors LP now owns 31,674 shares of the oil and gas company’s stock valued at $2,031,000 after acquiring an additional 4,591 shares during the last quarter. Profund Advisors LLC increased its position in shares of PetroChina by 12.8% in the second quarter. Profund Advisors LLC now owns 40,236 shares of the oil and gas company’s stock valued at $2,466,000 after acquiring an additional 4,552 shares during the last quarter. Finally, Sei Investments Co. increased its position in shares of PetroChina by 6,949.6% in the third quarter. Sei Investments Co. now owns 33,133 shares of the oil and gas company’s stock valued at $2,124,000 after acquiring an additional 32,663 shares during the last quarter. 0.20% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for PetroChina (NYSE:PTR)

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