HSBC Downgrades PetroChina (NYSE:PTR) to Reduce
PetroChina (NYSE:PTR) was downgraded by stock analysts at HSBC from a “hold” rating to a “reduce” rating in a note issued to investors on Wednesday, Marketbeat Ratings reports.
A number of other analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of PetroChina from a “strong sell” rating to a “hold” rating and set a $47.00 target price on the stock in a report on Monday, June 3rd. Macquarie upgraded shares of PetroChina from a “neutral” rating to an “outperform” rating in a research note on Wednesday, July 17th. Goldman Sachs Group upgraded shares of PetroChina from a “neutral” rating to a “buy” rating and set a $74.00 price target on the stock in a research note on Tuesday, May 14th. TheStreet downgraded shares of PetroChina from a “b-” rating to a “c+” rating in a research note on Friday, May 17th. Finally, Daiwa Capital Markets assumed coverage on shares of PetroChina in a research note on Monday, July 8th. They set an “outperform” rating on the stock. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. PetroChina currently has an average rating of “Hold” and a consensus price target of $71.11.
PTR traded up $0.29 during midday trading on Wednesday, reaching $53.05. 1,471 shares of the company’s stock were exchanged, compared to its average volume of 90,231. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.80 and a quick ratio of 0.51. The stock has a market capitalization of $96.56 billion, a PE ratio of 12.32 and a beta of 1.18. The business’s 50-day moving average price is $50.38 and its 200 day moving average price is $57.98. PetroChina has a 1-year low of $47.65 and a 1-year high of $83.24.
PetroChina Company Limited, together with its subsidiaries, engages in a range of petroleum related products, services, and activities in Mainland China and internationally. It operates through Exploration and Production, Refining and Chemicals, Marketing, and Natural Gas and Pipeline segments. The Exploration and Production segment engages in the exploration, development, production, and marketing of crude oil and natural gas.
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