|Bid||0.00 x 1100|
|Ask||0.00 x 800|
|Day's Range||73.45 - 74.67|
|52 Week Range||60.69 - 85.02|
|PE Ratio (TTM)||32.37|
|Forward Dividend & Yield||2.00 (2.66%)|
|1y Target Est||94.01|
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In this article, we’ll conclude our look at the biggest movers in the refining and marketing sector and the integrated energy sector. Let’s look at the Wall Street recommendations for the leading gainers and decliners for the week ended June 15.
Let’s how hedge funds are positioned among the leading gainers and decliners from the refining and marketing sector as well as the integrated energy sector for the week ended June 15.
PetroChina (PTR) is the leading declining stock in the week ended June 15 from the integrated energy sector. PTR fell ~7.7% from the previous week’s close of $84.18 to $77.72 on June 14. PetroChina declined on the first four days of the week, with the majority of the decline occurring on June 13 and 14.
BEIJING/SINGAPORE (Reuters) - China's imports of Venezuelan crude oil could sink to their lowest in nearly eight years in July as the OPEC producer struggles with shrinking output and mounting logistics issues, according to people familiar with the matter and shipping data. State-controlled PetroChina expects June loadings from Venezuela, mainly the Merey grade, to be half the normal rates, according to two Beijing-based oil officials briefed on the matter. Venezuela's state firm PDVSA has promised the lost volume would be topped up in July loadings for arrival in August-September, they said.
China's independent oil refiners are suffering a drastic change of fortune as new tax rules, shrinking diesel demand and higher crude prices threaten their nearly three-year profit bonanza. Industry executives and analysts said nearly 40 private refiners, often called "teapots" - which account for a fifth of China's almost 10 million barrels per day (bpd) in crude oil imports - are losing money and market share. Several have shut for maintenance to cut exposure to the market, and some teapots may have to shut for good if the conditions continue.
China’s plans to create a pipeline giant to aid development of its natural gas market are overdue, and welcome. The state-owned champion, provisionally dubbed China Pipelines Corp., will combine the pipeline divisions of state-owned PetroChina Co., China Petroleum & Chemical Corp. or Sinopec, and Cnooc Ltd. A mooted market capitalization of as much as 500 billion yuan ($78 billion) would make it the world’s largest pipeline operator on that measure, comfortably outstripping Enterprise Product Partners LP at $64 billion. There’s much to like in that plan, given the way the current setup has helped stymie China’s drive to increase the role of gas in its domestic energy mix.
Continuing with the biggest movers in the energy sector, let’s look at the top gainers from the US integrated energy sector for the week ending June 8.
The top 25 oil and gas companies on the Forbes Global 2000 have seen an improvement from last year on rising commodity prices.
Shell (RDS.A) is going to take the final investment decision on the much-awaited LNG Canada project by the end of this year.
Moody's Investors Service has changed to stable from negative the outlook on Kunlun Energy Company Limited's A2 issuer rating and senior unsecured debt rating. At the same time, Moody's has affirmed all ratings. "The change in outlook to stable reflects the stabilization of Kunlun's credit profile, driven by its steadying business profile and manageable credit metrics that we expect will remain at levels appropriate for its current rating level over the next 12-18 months," says Boris Kan, a Moody's Vice President and Senior Credit Officer.
PetroChina Co. rallied the most in two years after regulators unveiled a new gas market policy that harmonizes prices for different users and is seen as an earnings boost for the nation’s biggest producer and importer of the fuel. Meanwhile, China Resources Gas Group Ltd., China Gas Holdings Ltd. and ENN Energy Holdings Ltd. slumped as the move is seen undercutting the profitability of the nations’ three largest firms that deliver the fuel to homes and businesses. China’s gas demand is booming, driving the country to become one of the world’s biggest importers, as President Xi Jinping’s government seeks to replace some coal use with the cleaner-burning fuel, part of broader efforts to roll back the country’s notorious pollution.
Previously, we looked at BP’s (BP) moving average trends. In this part, we’ll use its implied volatility to forecast its stock price range up until June 29.
Previously, we saw that BP (BP) stock has surged 18% in the second quarter. In this part, we’ll look at BP’s moving averages.
Moody's Investors Service affirmed Cheniere Corpus Christi Holdings, LLC's (CCH) Ba3 senior secured rating and changed the rating outlook to positive from stable. CCH has provided Bechtel Corporation (Bechtel:not rated), the Engineering, Procurement, and Construction contractor, limited notice to proceed with Train 3 and the Board of Directors of Cheniere Energy, Inc. (Cheniere:not rated), the project's parent, have issued a positive Final Investment Decision.
MSCI announced 234 China A shares will be added to its equity indexes. Among the large cap Chinese stocks that will be included are Industrial and Commercial Bank of China, China Construction Bank and PetroChina. MSCI on Tuesday announced that 234 China A shares will be added to its relevant global and regional indexes, including the MSCI Emerging Markets Index , on June 1.
PetroChina's senior oil products trader Wang Lei has become the chief of the state firm's natural gas trading, as the oil major is set to expand its business of cleaner burning fuel as part of Beijing's anti-smog campaign. Wang Lei, previously head of products trading for Chinaoil, the trading arm of PetroChina, told Reuters he was appointed as the global gas team leader "very recently", and did not provide further details. PetroChina, which operates three major receiving facilities of liquefied natural gas along China's east coast and has long-term supply contracts with Qatar and Australia, is poised to expand its gas trading in the coming years.
Investing.com – Asian stocks extended their gains in afternoon trade on Monday, despite data that showed China’s manufacturing activities in April were slower than expected. Japan’s market was closed on Monday, Tuesday and Friday this week for Golden Week while China shut Monday and Tuesday.
Investing.com - Asian stocks were higher in morning trade on Monday, with Japan closed on Monday, Tuesday and Friday this week for Golden Week while China shut Monday and Tuesday.
PetroChina Co.’s profit rose 78 percent in the first quarter as the country’s largest oil and gas producer benefited from a rally in crude prices while holding in check its losses from reselling imported gas. Like other major global producers, PetroChina, which accounts for more than half the nation’s crude and gas output, is reaping the rewards of a price rally mainly driven by OPEC-led production cuts. Operating profit in PetroChina’s exploration and production division surged more than fivefold to 9.7 billion yuan in the period, even as oil and gas output was flat, the explorer said in the statement.
BEIJING , April 27, 2018 /PRNewswire/ -- PetroChina Company Limited ("PetroChina", SEHK stock code 0857; NYSE symbol PTR; SSE stock code 601857) announced today that it has filed its annual report ...