How Analysts Feel About PetroChina Company Limited (ADR) (PTR) After Forming Double Bottom?

September 17, 2017 - By Vivian Park

The chart of PetroChina Company Limited (ADR) (PTR) shows a double bottom with $58.32 target or 8.00 % below today’s $63.39 share price. The 8 months chart pattern indicates high risk for the $210.64 billion company. It was reported on Sep, 17 by Finviz.com. If the $58.32 price target is reached, the company will be worth $16.85B less. Double bottoms are rare but powerful chart patterns.

The stock decreased 0.47% or $0.3 on September 15, reaching $63.39. About 151,236 shares traded or 22.73% up from the average. PetroChina Company Limited (ADR) (NYSE:PTR) has risen 2.18% since September 17, 2016 and is uptrending. It has underperformed by 14.52% the S&P500.

Analysts await PetroChina Company Limited (ADR) (NYSE:PTR) to report earnings on October, 27. They expect $0.46 earnings per share, up 666.67 % or $0.40 from last year’s $0.06 per share. PTR’s profit will be $1.53 billion for 34.45 P/E if the $0.46 EPS becomes a reality. After $0.57 actual earnings per share reported by PetroChina Company Limited (ADR) for the previous quarter, Wall Street now forecasts -19.30 % negative EPS growth.

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

Among 9 analysts covering PetroChina Company Limited (NYSE:PTR), 4 have Buy rating, 0 Sell and 5 Hold. Therefore 44% are positive. PetroChina Company Limited had 16 analyst reports since August 25, 2015 according to SRatingsIntel. The firm has “Underweight” rating by Morgan Stanley given on Tuesday, May 10. The firm earned “Buy” rating on Wednesday, October 28 by Societe Generale. The stock has “Buy” rating by Jefferies on Friday, February 24. The company was downgraded on Monday, August 31 by Bank of America. On Tuesday, August 25 the stock rating was upgraded by Zacks to “Strong Sell”. The rating was downgraded by JP Morgan on Monday, May 23 to “Neutral”. As per Friday, October 21, the company rating was downgraded by Macquarie Research. The stock of PetroChina Company Limited (ADR) (NYSE:PTR) earned “Reduce” rating by HSBC on Thursday, March 10. Morgan Stanley upgraded the stock to “Equal-Weight” rating in Tuesday, January 10 report. The rating was upgraded by Mizuho on Monday, March 21 to “Buy”.

More important recent PetroChina Company Limited (ADR) (NYSE:PTR) news were published by: Benzinga.com which released: “Chinese Oil Demand Is ‘Looking More Like A Vomiting Bear'” on August 25, 2016, also Nasdaq.com published article titled: “PetroChina Company Limited (PTR) Ex-Dividend Date Scheduled for June 12, 2017”, Marketwatch.com published: “63.39” on July 10, 2009. More interesting news about PetroChina Company Limited (ADR) (NYSE:PTR) was released by: Nasdaq.com and their article: “PetroChina Company Limited – ADR (PTR): New Analyst Report from Zacks Equity …” with publication date: January 31, 2014.

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