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PetroChina Company LimitedOTCPK:PTRC.Y Stock Report

Market Cap US$124.9b
Share Price
n/a
My Fair Value
n/a
1Y-17.4%
7D-0.5%
1D
Portfolio Value
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PetroChina Company Limited

OTCPK:PTRC.Y Stock Report

Market Cap: US$124.9b

This company listing is no longer active

This company may still be operating, however this listing is no longer active. Find out why through their latest events.

PetroChina (PTRC.Y) Stock Overview

Engages in a range of petroleum related products, services, and activities in Mainland China and internationally. More details

PTRC.Y fundamental analysis
Snowflake Score
Valuation5/6
Future Growth0/6
Past Performance3/6
Financial Health6/6
Dividends4/6

Rewards

Trading at 71.4% below our estimate of its fair value

Earnings grew by 19.1% over the past year

Trading at good value compared to peers and industry

Risk Analysis

Earnings are forecast to decline by an average of 13.3% per year for the next 3 years

Unstable dividend track record


PTRC.Y Community Fair Values

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PetroChina Company Limited Competitors

Price History & Performance

Summary of share price highs, lows and changes for PetroChina
Historical stock prices
Current Share PriceHK$42.25
52 Week HighHK$57.87
52 Week LowHK$39.58
Beta0.80
1 Month Change-0.59%
3 Month Change-7.51%
1 Year Change-17.42%
3 Year Change-18.28%
5 Year Change-33.49%
Change since IPO157.03%

Recent News & Updates

Recent updates

Seeking Alpha • Sep 09

PetroChina: Investors Are Paid To Wait In This Inexpensive Global Energy Player

Summary International energy equities have been rallying in the face of lower oil prices over the last two months. One China-based large-cap E&P name has focused its activities upstream, and solid earnings and dividends are expected. The technical chart shows a consolidation after a bullish double bottom in 2020. The Energy sector has been resilient despite falling oil prices lately. That’s generally more of a favorable sign for the equities rather than a bearish indicator for the commodity. For the many Energy market bulls, they can point to low valuations and high free cash flow yields among many domestic and foreign firms. One major China player fits the mold. Global Energy Stocks Strong Despite Falling Oil Stockcharts.com According to Bank of America Global Research, PetroChina (PTR) is a fully integrated oil company, and the largest oil & gas company in China. It is engaged in a range of petroleum-related activities: 1) E&P: explore, develop, and produce crude oil and natural gas, 2) R&C: produce a wide range of refined and chemicals products, 3) Marketing: refined and chemical products through wholesale and retail networks, and 4) Natural Gas & Pipeline: transmit and store oil, refined products, and natural gas. The Beijing-based $140 billion Oil, Gas & Consumable Fuels industry stock in the Energy sector is a major player in the global energy market. For dividend investors, the company’s big 8.4% yield comes at a low trailing 12-month GAAP price-to-earnings valuation multiple of just 4.6, according to The Wall Street Journal. PTR has a 12% short float, so there are some skeptics. On valuation, analysts at BofA are optimistic with a dollar-equivalent price objective near $76. PTR recently spun off a natural gas pipeline unit to focus on more upstream activities. Broadly, earnings are seen increasing to above $10 per share this year and moderating to the $8 to $9 range in the years ahead. That would yield a low intermediate-term P/E. All the while, investors are paid a solid dividend stream. The stock is very cheap on an EV/EBITDA basis and trades just 0.4 times book versus a historical average of 1.2, per BofA. The kicker on valuation is a massive free cash flow yield, indicative of upside to shareholder accretive activities. PTR Stock: Earnings, Valuation, Dividend Forecasts BofA Global Research Looking ahead, Wall Street Horizon shows a Q3 2022 earnings date of Thursday, October 27 unconfirmed. There are no other notable events between now and then. PetroChina's Corporate Event Calendar Wall Street Horizon The Technical Take Bulls must watch the $52 to $56 range on PTR. Shares found support there in years past, but then a bearish breakdown below that key area led to a further 50% collapse in shares back in early 2020 but then formed a bullish double bottom pattern there in late 2020. The stock has failed to climb back above the mid-$50s on a few tries since late last year. The recent energy market pullback found support in the low $40s. The $41 to $42 range must hold otherwise an old unfilled gap could come into play in the low $30.
Seeking Alpha • Aug 25

PetroChina GAAP EPS of RMB0.45, revenue of RMB1.6T

PetroChina press release (NYSE:PTR): 1H GAAP EPS of RMB0.45. Revenue of RMB1.6T (+33.3% Y/Y). Looking ahead, the Company will further promote the implementation of "innovation, resources, market, internationalization, green & low-carbon" development strategies. Furthermore, it will proceed with the implementation of four strategic measures of developing a quality workforce, improving quality and efficiency, promoting low-cost development and fostering corporate culture. It will forge ahead prudently and focus on core businesses of oil, gas and new energies. Persistent efforts will be made to deepen reform and innovation, enhance quality and efficiency, drive business transformation and strengthen risk management. It will make relentless efforts to ensure stable and efficient operation of oil and gas industrial chains, thereby promoting high-quality development, delivering solid results and rewarding shareholders and investors.
Seeking Alpha • Aug 12

PetroChina intends to voluntarily delist its ADS from NYSE

PetroChina (NYSE:PTR) announced that it has notified NYSE on Aug.12, 2022 that it will apply for a voluntary delisting of its ADS from NYSE. In the year 2000, the company closed an offering of 17.6M shares and listed on The Stock Exchange of Hong Kong and NYSE wherein ADSs representing 23.5% of the total H Shares were listed on the NYSE. The last day of trading of the ADSs on the NYSE is expected to occur on or about Sep.8, 2022. During the period after the ADSs are delisted from the NYSE and before the termination date, the ADSs issued under the ADR program of the company are expected to trade on the OTC market. Shares trading 1.2% down premarket.
Seeking Alpha • May 26

PetroChina Company Is Planning To Reduce Capex And Increase Renewables

PetroChina's strong earnings report in Q1 2022 came just after the company reported its highest annual results in 7 years. PetroChina is targeting lower spending even as its refinery output fell 2.6% in the quarter as compared to the year before. The company aims to have renewable energy take up a third of its business portfolio by 2035.
Seeking Alpha • Mar 07

PetroChina: An Immensely Undervalued Stock For Those Seeking An Oil Play

Brent Crude stands at $122 per barrel and will continue to rise amidst turmoil caused by the Ukrainian-Russian conflict. PetroChina is a very undervalued oil company with a 6.6% dividend yield. As a Chinese NOC, PetroChina can fill the production gap left by the carbon-conscious supermajors in the long-term. PetroChina has solid gross margins, good revenue growth, and healthy long-term solvency to insulate it from regional concerns.
Seeking Alpha • Dec 31

PetroChina: 10% Yield And Bullish 2022 Oil Outlook, Clouded By Geopolitical Risks

The global oil industry appears set for another strong year due to prolonged challenges in both OPEC+ and U.S's ability to normalize production. While the U.S, Russia, and OPEC are all struggling to grow production, China has made significant efforts to reduce import dependence through PetroChina and Sinopec. Due primarily to greater geopolitical and legal issues facing Chinese SOEs, PetroChina trades at a ~50% discount to its U.S peers. Most large oil companies have lackluster financial stability today, and PetroChina's appears slightly worse than most of its peers. I expect PetroChina to rise in value in 2022 but may face significant pressure from the U.S or China's economic slowdown.
Seeking Alpha • Nov 23

PetroChina Is A Great Energy Play

I expect higher oil prices for longer than the market. PetroChina is a great way to capitalize on this expectation. The company valuation is at a significant discount due to macro issues in China which should fade over the coming year. The high dividend yield makes waiting attractive.
Seeking Alpha • Oct 04

PetroChina: A Surprisingly Solid 7% Yield Ruined By Too Much Geopolitical Risk

Whilst income investors often turn to the household oil and gas names like BP, other less known companies like PetroChina still offer investors a high 7% dividend yield. Despite the turmoil of 2020, their operating cash flow only decreased around a modest 11% year-on-year and improving operating conditions should help their dividend coverage in the future. They have a very healthy financial position with both very low leverage and very strong liquidity, although the latter comes about because they are a state-controlled company. This poses one big problem for foreign investors since it creates very high geopolitical risks, which have already seen their sister oil and gas company, CNOOC, delisted from the NYSE. Whilst their fundamentals are surprisingly solid, disappointingly there is too much geopolitical risk and thus I only believe that a neutral rating is appropriate.
Seeking Alpha • Aug 04

PetroChina: A Steal At 6 Times Forward Earnings

Besides PetroChina's debt, the pandemic and the shift to electric vehicles bring obvious risks. However, Petro is trading at an ultra-low valuation and has been growing its cash flows significantly. We see little downside risk here as long as sizing is kept in check.
Seeking Alpha • Jul 20

PetroChina Has Become Attractive After Its Recent Correction

PTR has incurred a 19% correction since early July, along with the entire energy sector. As a result, PTR is trading at only 5.9 times its expected earnings per share this year. Thanks to the exceptionally cheap valuation level of PTR and its attractive dividend, investors should take advantage of the recent sell-off and buy the stock.

Shareholder Returns

PTRC.YUS Oil and GasUS Market
7D-0.5%-0.4%0.9%
1Y-17.4%23.2%24.5%

Return vs Industry: PTRC.Y underperformed the US Oil and Gas industry which returned -4% over the past year.

Return vs Market: PTRC.Y underperformed the US Market which returned 15.2% over the past year.

Price Volatility

Is PTRC.Y's price volatile compared to industry and market?
PTRC.Y volatility
PTRC.Y Average Weekly Movement4.3%
Oil and Gas Industry Average Movement6.0%
Market Average Movement7.2%
10% most volatile stocks in US Market16.7%
10% least volatile stocks in US Market3.1%

Stable Share Price: PTRC.Y has not had significant price volatility in the past 3 months.

Volatility Over Time: PTRC.Y's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1999409,191Yongzhang Huangwww.petrochina.com.cn

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.

PetroChina Company Limited Fundamentals Summary

How do PetroChina's earnings and revenue compare to its market cap?
PTRC.Y fundamental statistics
Market capUS$124.89b
Earnings (TTM)US$16.85b
Revenue (TTM)US$420.38b
4.7x
P/E Ratio
0.2x
P/S Ratio

Is PTRC.Y overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
PTRC.Y income statement (TTM)
RevenueCN¥3.03t
Cost of RevenueCN¥2.08t
Gross ProfitCN¥956.00b
Other ExpensesCN¥834.48b
EarningsCN¥121.52b

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

Oct 27, 2022

Earnings per share (EPS)0.66
Gross Margin31.53%
Net Profit Margin4.01%
Debt/Equity Ratio22.4%

How did PTRC.Y perform over the long term?

See historical performance and comparison

Dividends

9.6%
Current Dividend Yield
45%
Payout Ratio

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2022/10/20 21:49
End of Day Share Price 2022/10/19 00:00
Earnings2022/06/30
Annual Earnings2021/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

PetroChina Company Limited is covered by 43 analysts. 13 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Scott Lee DarlingBarclays
NEIL BEVERIDGEBernstein
Yanlin ZhaoBofA Global Research