0857.HK - PetroChina Company Limited

HKSE - HKSE Delayed Price. Currency in HKD
+0.050 (+1.18%)
At close: 4:08PM HKT
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Previous Close4.240
Bid4.290 x 0
Ask4.300 x 0
Day's Range4.260 - 4.340
52 Week Range4.180 - 6.520
Avg. Volume72,217,213
Market Cap1.296T
Beta (3Y Monthly)0.71
PE Ratio (TTM)12.99
EPS (TTM)0.330
Earnings DateN/A
Forward Dividend & Yield0.15 (3.44%)
Ex-Dividend Date2019-06-20
1y Target Est7.37
  • PetroChina Is Worth Less Than its Reserves
    Bloomberg5 days ago

    PetroChina Is Worth Less Than its Reserves

    Jul.15 -- Neil Beveridge, senior analyst at Sanford C. Bernstein, discusses the value of PetroChina and his outlook for the company. He speaks on “Bloomberg Markets: Asia.”

  • Exclusive: Italian, Chinese majors vie in Pakistan's mega LNG tender
    Reuters2 days ago

    Exclusive: Italian, Chinese majors vie in Pakistan's mega LNG tender

    LONDON/SINGAPORE (Reuters) - Italian oil major Eni, China's overseas energy unit PetroChina and two trading houses are vying to supply liquefied natural gas (LNG) to Pakistan in one of the largest tenders ever worth billions of dollars, two sources familiar with the matter said on Friday. The 240-cargo 10-year tender, which is likely to be worth from $5 billion to $6 billion according to Reuters calculations and the estimates of another source based on current market conditions, was issued last month and closed on Thursday. Pakistan is expected to be a significant growth driver in global LNG demand, with Wood Mackenzie estimating the country will need 25 million tonnes a year as domestic supplies dwindle and its economy grows.

  • China's refiners want tax cuts before making cleaner shipping fuel: sources
    Reuters2 days ago

    China's refiners want tax cuts before making cleaner shipping fuel: sources

    Chinese oil refiners want changes to tax laws on the consumption and sale of fuel oil in order to start producing low-sulphur marine fuel when new global clean fuel rules start in 2020, four executives at Chinese oil companies said this week. China's central government must waive a 1,218 yuan ($177.11) per tonne consumption tax and offer rebates of the 13% value-added tax currently levied on fuel oil to allow the country's refiners to economically produce the very low-sulphur fuel oil (VLSFO) needed to meet the rules, officials at China Chemical and Petroleum Corp, PetroChina and China National Offshore Oil Co said.

  • Benzinga10 days ago

    Today's Pickup: A Once $1 Trillion Dollar Oil Company Is Now Valued 80 Percent Lower

    In 2007, PetroChina, China's largest oil and gas producer, became the world's first company to trade at over $1 trillion while debuting on the Shanghai stock exchange. Far more hurtful is the fact that PetroChina's market worth is now less than the value of its proven oil and gas reserves in the ground – which is estimated to be worth $208.7 billion. American imports of manufactured goods from China and 13 other Asian countries rose 9 percent in 2018 to $816 billion, the largest annual increase in nearly a decade and outpacing a 6 percent increase in domestic manufacturing gross output.

  • An Oil Behemoth Is Worth Less Than Its Energy Reserves In the Ground
    Bloomberg12 days ago

    An Oil Behemoth Is Worth Less Than Its Energy Reserves In the Ground

    (Bloomberg) -- Sign up for Next China, a weekly email on where the nation stands now and where it's going next.PetroChina Co. looks cheap on many levels, perhaps none more so than comparing it to the value of its reserves beneath the Earth’s surface.By plotting its enterprise value against reserves, China’s state-run oil and gas champion is the cheapest among global energy firms tracked by Sanford C. Bernstein & Co. Its shares have sunk 14% in Hong Kong this year to trade almost at the lowest since 2005. That’s despite a 19% gain in crude prices.“With PetroChina’s current assets and asset quality, even with modest valuation methods, the H-share price should be easily doubled from current levels,” Jefferies Group LLC analyst Laban Yu said by phone. “There is no valuation method that can validate the current share price.”That’s a sentiment shared by most analysts. The stock has drawn 20 buy ratings and only one sell. The consensus of more than 25 forecasters sees prospects for PetroChina to surge 42% over the next year, according to data compiled by Bloomberg.“In theory, oil companies should never trade below their proven reserves value,” Bernstein analysts including Neil Beveridge said in a May 22 report. With PetroChina trading below that metric, it raises the question of how much lower it can get, Bernstein said.To truly unlock its potential requires a major jolt, such as a breakup of its assets or a management mindset shift to put the needs of shareholders on par with national service, analysts say. If PetroChina existed in the U.S., it would be worth about four times more than its current price of HK$4.20, according to Jefferies.$1 TrillionBeijing-based PetroChina was formed in 1999 after its parent China National Petroleum Corp. transferred most of its major upstream assets inherited from the former oil ministry. The company listed in Hong Kong a year later and in Shanghai in 2007, becoming the world’s first trillion-dollar company.As oil prices tumbled, PetroChina suffered more than its international peers. Its current market value of $169 billion makes it the fourth largest oil major after Exxon Mobil Corp., Royal Dutch Shell Plc and Chevron Corp. Confidence was also hurt by a corruption scandal in 2013 that led to the imprisonment of a few board members, including former chairman Jiang Jiemin.Oil companies typically trade at a premium to their reserve value to reflect the growth potential from those resources, according to Bernstein. PetroChina is a “noticeable outlier” among 25 global energy companies assessed, which is based on the value of proven reserves under current prices among other factors. Bernstein estimates PetroChina’s reserves are worth $208.7 billion.Lagging PeersPart of what ails PetroChina is endemic to the oil industry: back when oil prices were high, it piled up debt in chase of production growth. Return on capital, a popular measure of efficiency in oil companies, dropped from double-digit percentages in the 2000s to single digits in recent years.Its return on equity of 4.3% is at the bottom 5% of global integrated oil and gas companies, while its operating margin of 5.09% is lower than 65% of the majors, data compiled by Bloomberg show.“They pursued a strategy of volume growth at the expense of returns,” Beveridge said in a phone interview. “That’s obviously led to massive loss in shareholder value.”PetroChina also suffers from troubles specific to it being the nation’s top supplier. It is under pressure to increase spending this year, a good chunk of it on old or high-cost fields, after President Xi Jinping called for higher domestic oil and gas production. It also consistently loses money from reselling imported natural gas locally at lower, state-regulated prices -- a problem that has intensified amid booming consumption.Industry OverhaulReform could be around the corner. The Chinese government plans to combine the pipeline resources of PetroChina and its two other state-owned peers into a national operator. This could unlock value for PetroChina if those assets are worth more than what the company has them booked for, Beveridge said.The pipeline spinoff will provide clarity for investors as well as a short-term share price boost, Daiwa Capital Markets Hong Kong Ltd. analysts including Dennis Ip said in a note Monday that initiates coverage of PetroChina with an outperform rating.The government is also revamping the upstream industry to make it easier for foreign companies to invest, and forcing producers to drill or lose exploration rights, according to Yu. That may push PetroChina to sign more production-sharing agreements, form joint ventures or spin off some other assets, Yu said.Beveridge highlighted Russia’s Gazprom PJSC as an example of how value can be unlocked when executives address shareholders’ needs. The company boosted dividends in May and followed that up by promising senior management changes. Its share price has jumped by more than 50% since.“Fundamental reform of the company, management and incentive schemes that are more focused on return-type metrics, that’s what’s needed to turn around the company,” Beveridge said. “If you do something positive for the shareholders, then you can start to unlock the upside.”(Updates shares throughout story.)To contact the reporters on this story: Dan Murtaugh in Singapore at dmurtaugh@bloomberg.net;Aibing Guo in Hong Kong at aguo10@bloomberg.netTo contact the editors responsible for this story: Ramsey Al-Rikabi at ralrikabi@bloomberg.net, Jasmine Ng, Charlie ZhuFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Despite Its High P/E Ratio, Is PetroChina Company Limited (HKG:857) Still Undervalued?
    Simply Wall St.12 days ago

    Despite Its High P/E Ratio, Is PetroChina Company Limited (HKG:857) Still Undervalued?

    This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios...

  • How salesforce.com and Other Hedge Fund Favorites Performed in Q2
    Insider Monkey22 days ago

    How salesforce.com and Other Hedge Fund Favorites Performed in Q2

    Insider Monkey tracks hedge funds, billionaires, and prominent value investors for a very simple reason: their consensus picks generally outperform the market. We aren’t the only research shop broadcasting this fact using a bullhorn. Here is what strategist Ben Snider said in Goldman Sachs’ periodic hedge fund report: “Despite the strong track record of popular […]

  • Top 5 Chinese Natural Gas Companies (SHI, PTR)
    Investopedia26 days ago

    Top 5 Chinese Natural Gas Companies (SHI, PTR)

    China's five major natural gas companies include three state-owned energy giants, Sinopec Shanghai Petrochemical Co., Ltd. (NYSE: SHI), China National Petroleum Corporation and China National Offshore Oil Corporation.

  • Has Total’s Short Interest Risen?
    Market Realistlast month

    Has Total’s Short Interest Risen?

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  • New bipartisan bills threaten Chinese IPOs and Chinese companies listed in the U.S.
    Yahoo Financelast month

    New bipartisan bills threaten Chinese IPOs and Chinese companies listed in the U.S.

    Two bipartisan bills have been introduced over the last few months aimed at going after Chinese companies that don’t comply with auditing rules in the U.S.

  • 3 Energy Stocks With High Forward Dividend Yields
    GuruFocus.com2 months ago

    3 Energy Stocks With High Forward Dividend Yields

    The first company is Exxon Mobil Corp. (XOM), whose shares closed at $70.77 on Friday with a market capitalization of $299.58 billion. Warning! GuruFocus has detected 3 Warning Signs with XOM. On June 10, Exxon Mobil will pay a quarterly dividend of 87 cents per share, which reflects a 6.1% increase from the previous payment, to shareholders of record as of May 13.

  • Here is the 15th Most Popular Stock Among Hedge Funds
    Insider Monkey2 months ago

    Here is the 15th Most Popular Stock Among Hedge Funds

    Many investors, including Paul Tudor Jones or Stan Druckenmiller, have been saying before the Q4 market crash that the stock market is overvalued due to a low interest rate environment that leads to companies swapping their equity for debt and focusing mostly on short-term performance such as beating the quarterly earnings estimates. In the first […]

  • If You Had Bought PetroChina (HKG:857) Stock Five Years Ago, You'd Be Sitting On A 52% Loss, Today
    Simply Wall St.2 months ago

    If You Had Bought PetroChina (HKG:857) Stock Five Years Ago, You'd Be Sitting On A 52% Loss, Today

    Ideally, your overall portfolio should beat the market average. But even the best stock picker will only win with some...

  • Reuters2 months ago

    PetroChina raising gas prices ahead of pipeline reshuffle

    SHANGHAI/SINGAPORE, May 23 (Reuters) - PetroChina is bucking normal practice and raising its wholesale natural gas prices during the weak-demand spring season, several sources said, preparing for the coming consolidation of China's pipeline assets and trying to recoup huge fuel import losses. The increases from PetroChina - which supplies more than 70 percent of China's gas - come as spring brings warmer temperatures, when demand and prices typically fall. PetroChina is also under pressure to recoup continuing losses from its gas import business due to high input costs versus government-capped domestic prices, sources with knowledge of the matter said.

  • Reuters2 months ago

    China's CNPC breaks into Myanmar fuel retailing with Singapore brand

    SINGAPORE/YANGON (Reuters) - China National Petroleum Corp is planning to open dozens of petrol stations in Myanmar, the first major foreign investor to enter the fast-growing Southeast Asian fuel market, as the state giant expands its retail oil business, company officials said. The investment, which could eventually reach tens of millions of dollars, follows a new strategy to tap overseas retail margins as China's domestic fuel market is saturated. The move follows a similar but larger investment in Brazil, where CNPC's global trading and refining unit bought 30% of a leading Brazilian fuel dealer last year.

  • Oilprice.com2 months ago

    Iraq Close To Signing Mega $53 Billion Oil Deal

    Iraq will soon finalize a large-scale, long-term deal for the development of oil fields in the South with Exxon and PetroChina. The 30-year contract will involve investments of US$53 billion and potential returns for Baghdad of as much as US$400 billion over its lifetime

  • Reuters2 months ago

    Iraq sees deal with Exxon Mobil, PetroChina 'very soon' - oil minister

    Iraq oil minister Thamer Ghadhban said on Wednesday he expects his ministry to sign an initial deal with Exxon Mobil and PetroChina "very soon", but did not give a specific date. "We have managed to take a step forward in resolving some lingering issues in the deal," Ghadhban said at an oil ministry event. Once the talks end, the initial deal will be studied by the ministerial energy committee before referring it to cabinet for approval, Ghadhban added.

  • Iraq planning $53B megaproject with ExxonMobil, PetroChina
    Associated Press2 months ago

    Iraq planning $53B megaproject with ExxonMobil, PetroChina

    BAGHDAD (AP) — Iraq is planning a $53 billion megaproject with global energy giants ExxonMobil and PetroChina to use seawater from the Persian Gulf to boost oil production, Prime Minister Adel Abdul-Mahdi announced Tuesday.

  • Iraq close to signing $53 billion deal with Exxon, PetroChina; denies Iran link
    Reuters2 months ago

    Iraq close to signing $53 billion deal with Exxon, PetroChina; denies Iran link

    Iraq is close to signing a $53 billion, 30-year energy agreement with Exxon Mobil and PetroChina, Prime Minister Adel Abdul Mahdi said on Tuesday, denying any link between the mega-project and U.S. permission for Iraq to do business with Iran. Iraq expects to make $400 billion over the 30 years the deal will be in effect, the prime minister said. The southern mega-project involves the development of the Nahr Bin Umar and Artawi oilfields and raising production from the two fields to 500,000 barrels per day (bpd) from around 125,000 bpd now, Abdul Mahdi said.

  • BP’s Stock Price Forecast Range after Its Q1 Earnings
    Market Realist3 months ago

    BP’s Stock Price Forecast Range after Its Q1 Earnings

    BP’s Q1 Earnings Beat the Estimate, Stock Rose 2%(Continued from Prior Part)Implied volatility BP (BP) posted its first-quarter earnings, which beat analysts’ earnings expectation. The stock reacted positively to the news. In this part, we’ll

  • What Is CVX’s Price Forecast Range following Its Q1 Results?
    Market Realist3 months ago

    What Is CVX’s Price Forecast Range following Its Q1 Results?

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    Market Realist3 months ago

    What’s Total’s Price Forecast?

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