PetroChina Company Limited (PTR) to Issue Semiannual Dividend of $1.04 on November 6th
PetroChina Company Limited (NYSE:PTR) announced a semiannual dividend on Friday, August 25th, Wall Street Journal reports. Shareholders of record on Thursday, September 7th will be given a dividend of 1.0381 per share by the oil and gas company on Monday, November 6th. This represents a yield of 3.21%. The ex-dividend date is Wednesday, September 6th. This is a boost from PetroChina Company Limited’s previous semiannual dividend of $0.55.
PetroChina Company Limited has decreased its dividend by an average of 48.0% annually over the last three years. PetroChina Company Limited has a payout ratio of 61.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect PetroChina Company Limited to earn $5.71 per share next year, which means the company should continue to be able to cover its $1.83 annual dividend with an expected future payout ratio of 32.0%.
Shares of PetroChina Company Limited (NYSE PTR) opened at 64.32 on Friday. PetroChina Company Limited has a 1-year low of $60.69 and a 1-year high of $81.80. The firm’s 50-day moving average is $63.45 and its 200 day moving average is $68.28. The stock has a market capitalization of $117.72 billion, a P/E ratio of 40.20 and a beta of 1.18.
PTR has been the topic of several recent research reports. Mizuho lowered shares of PetroChina Company Limited from a “buy” rating to a “neutral” rating in a research report on Friday, July 28th. Sanford C. Bernstein lowered shares of PetroChina Company Limited from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 6th. Macquarie raised shares of PetroChina Company Limited from a “neutral” rating to an “outperform” rating in a research report on Wednesday, August 2nd. Credit Suisse Group raised shares of PetroChina Company Limited from an “underperform” rating to a “neutral” rating in a research report on Wednesday, July 5th. Finally, BidaskClub raised shares of PetroChina Company Limited from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. PetroChina Company Limited presently has a consensus rating of “Hold”.
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PetroChina Company Limited 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.
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