PetroChina Sees Unusually High Options Volume (NYSE:PTR)

PetroChina Company Limited (NYSE:PTR) was the recipient of some unusual options trading activity on Thursday. Traders acquired 3,263 call options on the stock. This represents an increase of 3,608% compared to the average daily volume of 88 call options.

A number of equities research analysts have recently commented on the stock. Credit Suisse Group downgraded shares of PetroChina from a “neutral” rating to an “underperform” rating in a report on Monday, June 3rd. Macquarie upgraded shares of PetroChina from a “neutral” rating to an “outperform” rating in a report on Wednesday, July 17th. Zacks Investment Research upgraded shares of PetroChina from a “strong sell” rating to a “hold” rating and set a $47.00 price target for the company in a report on Monday, June 3rd. Citigroup upgraded shares of PetroChina from a “neutral” rating to a “buy” rating and set a $57.45 price target for the company in a report on Friday, May 24th. Finally, HSBC downgraded shares of PetroChina from a “hold” rating to a “reduce” rating in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $71.11.

Institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA grew its holdings in PetroChina by 26.7% in the first quarter. BNP Paribas Arbitrage SA now owns 2,646 shares of the oil and gas company’s stock valued at $173,000 after purchasing an additional 557 shares during the period. Qube Research & Technologies Ltd purchased a new stake in PetroChina in the second quarter valued at approximately $216,000. Integrated Wealth Concepts LLC purchased a new stake in PetroChina in the second quarter valued at approximately $217,000. Gabelli Funds LLC grew its holdings in PetroChina by 10.5% in the second quarter. Gabelli Funds LLC now owns 4,200 shares of the oil and gas company’s stock valued at $231,000 after purchasing an additional 400 shares during the period. Finally, Campbell & CO Investment Adviser LLC grew its holdings in PetroChina by 4.1% in the second quarter. Campbell & CO Investment Adviser LLC now owns 4,943 shares of the oil and gas company’s stock valued at $272,000 after purchasing an additional 195 shares during the period. Hedge funds and other institutional investors own 0.23% of the company’s stock.



Shares of NYSE PTR traded up $0.32 during midday trading on Friday, reaching $53.08. 109,838 shares of the stock were exchanged, compared to its average volume of 92,468. PetroChina has a 52-week low of $47.65 and a 52-week high of $83.24. The stock has a 50 day moving average price of $50.35 and a 200-day moving average price of $57.90. The company has a market capitalization of $96.56 billion, a P/E ratio of 12.34 and a beta of 1.18. The company has a current ratio of 0.80, a quick ratio of 0.51 and a debt-to-equity ratio of 0.31.

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.

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