Price Action Alert: A Reversal for PetroChina Company Limited (ADR) Is Not Near. The Stock Rises Again

Price Action Alert: A Reversal for PetroChina Company Limited (ADR) Is Not Near. The Stock Rises Again

The stock of PetroChina Company Limited (ADR) (NYSE:PTR) is a huge mover today! About 164,960 shares traded hands or 41.87% up from the average. PetroChina Company Limited (ADR) (NYSE:PTR) has declined 5.57% since March 2, 2016 and is downtrending. It has underperformed by 13.82% the S&P500.
The move comes after 8 months positive chart setup for the $198.38B company. It was reported on Oct, 5 by Barchart.com. We have $116.93 PT which if reached, will make NYSE:PTR worth $134.90 billion more.

PetroChina Company Limited (ADR) (NYSE:PTR) Ratings Coverage

Out of 7 analysts covering PetroChina Company Limited (NYSE:PTR), 3 rate it a “Buy”, 3 “Sell”, while 1 “Hold”. This means 43% are positive. PetroChina Company Limited has been the topic of 9 analyst reports since August 25, 2015 according to StockzIntelligence Inc. The firm has “Strong Sell” rating given on Tuesday, August 25 by Zacks. The rating was downgraded by Morgan Stanley to “Underweight” on Tuesday, May 10. On Monday, March 21 the stock rating was upgraded by Mizuho to “Buy”. Credit Suisse downgraded PetroChina Company Limited (ADR) (NYSE:PTR) on Wednesday, January 20 to “Underperform” rating. The stock of PetroChina Company Limited (ADR) (NYSE:PTR) has “Neutral” rating given on Monday, May 23 by JP Morgan. The stock of PetroChina Company Limited (ADR) (NYSE:PTR) has “Neutral” rating given on Monday, August 31 by Bank of America. The company was upgraded on Monday, April 18 by Bank of America. HSBC downgraded the shares of PTR in a report on Thursday, March 10 to “Reduce” rating. Societe Generale upgraded the stock to “Buy” rating in Wednesday, October 28 report.

According to Zacks Investment Research, “PETROCHINA ADR is engaged in a broad range of petroleum-related activities, including: the exploration, development and production of crude oil and natural gas; refining, transportation, storage and marketing, including import and export, of crude oil and petroleum products; production and sale of chemical products; and the transmission, marketing and sale of natural gas.”

More news for PetroChina Company Limited (ADR) (NYSE:PTR) were recently published by: Marketwatch.com, which released: “PetroChina Co. Ltd. ADR” on July 10, 2009. Nasdaq.com‘s article titled: “PetroChina Company Limited – ADR (PTR): New Analyst Report from Zacks Equity …” and published on January 31, 2014 is yet another important article.

PTR Company Profile

PetroChina Company Limited, incorporated on November 5, 1999, is an gas and oil producer and distributor. The Company’s divisions are Exploration and Production, Refining and Chemicals, Marketing, and Natural Gas and Pipeline. The Firm is engaged in the exploration, development, production and sale of natural gas and crude oil; the refining of crude oil and petroleum products; the production and sale of basic and derivative chemical products, and other chemical products; the marketing and trading of refined products, the transmission of crude oil, natural gas and refined products, and the sale of natural gas.

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