PetroChina (NYSE:PTR)‘s stock had its “buy” rating restated by equities researchers at Bank of America in a note issued to investors on Monday. They currently have a $106.00 price target on the oil and gas company’s stock. Bank of America’s price target would suggest a potential upside of 34.42% from the company’s current price.

Several other research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of PetroChina from a “strong-buy” rating to a “hold” rating in a report on Monday, August 13th. Sanford C. Bernstein upgraded shares of PetroChina from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $60.69 to $82.69 in a report on Monday, May 28th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $92.23.

Shares of PTR stock traded up $0.96 during trading hours on Monday, hitting $78.86. 613 shares of the company were exchanged, compared to its average volume of 103,514. The firm has a market cap of $141.80 billion, a P/E ratio of 43.76 and a beta of 1.44. PetroChina has a 1 year low of $61.87 and a 1 year high of $85.02. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.82 and a quick ratio of 0.54.

Several hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC raised its holdings in PetroChina by 3.4% in the second quarter. Renaissance Technologies LLC now owns 826,000 shares of the oil and gas company’s stock valued at $62,999,000 after buying an additional 26,900 shares during the period. BlackRock Inc. raised its holdings in PetroChina by 39.8% in the first quarter. BlackRock Inc. now owns 577,226 shares of the oil and gas company’s stock valued at $40,255,000 after buying an additional 164,470 shares during the period. Millennium Management LLC raised its holdings in PetroChina by 44.3% in the first quarter. Millennium Management LLC now owns 202,234 shares of the oil and gas company’s stock valued at $14,104,000 after buying an additional 62,050 shares during the period. Northern Trust Corp raised its holdings in PetroChina by 2.2% in the second quarter. Northern Trust Corp now owns 174,416 shares of the oil and gas company’s stock valued at $13,302,000 after buying an additional 3,808 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in PetroChina in the second quarter valued at approximately $7,627,000. Institutional investors and hedge funds own 0.26% of the company’s stock.

About PetroChina

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.

See Also: Return on Equity (ROE)

Analyst Recommendations for PetroChina (NYSE:PTR)

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