Petrochina 0857

Re: Petrochina 0857

Postby winston » Tue Oct 31, 2017 1:27 pm

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<Research Report>M Stanley Expects PETROCHINA Could Benefit from Oil & Gas Prices Reform; Kept Overweight

Morgan Stanley, in its report, said oil price recovery and oil and gas price reform in China should unleash the hidden value of PETROCHINA (00857.HK).

With net debt narrowed by about RMB90 billion year-to-date, the broker reiterated Overweight with target price of $6.21.

The broker said in 3Q17, the company's net profit was RMB4.7 billion, but still at a low level compared to the past.

The profit from refinery and chemical segment outperformed the upstream business.

Morgan Stanley said the EBIT of PETROCHINA remains stable, so the broker believed that the company can raise the price level amid gas supply shortage.

If the gas price reform continues with more market-oriented pricing, Morgan Stanley believed PETROCHINA will become the largest beneficiary.

Source: AAStocks Financial News
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Re: Petrochina 0857

Postby winston » Tue Oct 31, 2017 3:57 pm

<Post Result>Brokers' Latest Ratings & TPs on PETROCHINA (00857.HK) (Table)

Today, the share price of PETROCHINA (00857.HK) stabilized.

Yesterday (30 October), the company announced the result for the third quarter ended 30 September 2017.

During the period, net profit soared 291% yearly to RMB4.69 billion;

EPS amounted to 3 fen; turnover rose 17.1% yearly to RMB481.8 billion.

For the first three quarters ended 30 September 2017, in IFRS, revenue rose 26.7% yearly to RMB1.46 trillion; net profit surged 903% yearly to RMB17.366 billion.

Brokers updated their ratings and target prices:

Brokers/ Ratings/ Target prices (HK$)
CICC/ Recommend/ 8
BOC International/ Buy/ 5.96->6.51
Morgan Stanley/ Overweight/ 6.21
JPMorgan/ Neutral/ 6.1
Macquarie/ Outperform/ 5.5
Deutsche Bank/ Hold/ 5.55
BNP Paribas/ Hold/ 5.15
Credit Suisse/ Neutral/ 5
Citigroup/ Sell/ 4.2

Source: AAStocks Financial News
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Re: Petrochina 0857

Postby winston » Mon Nov 06, 2017 7:01 pm

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PetroChina’s shares fuelled by move to increase natural gas prices for commercial users

China’s top producer lifts prices of the commodity by up to 15 per cent

Source: SCMP

http://www.scmp.com/business/companies/ ... gas-prices
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Re: Petrochina 0857

Postby winston » Thu Nov 16, 2017 2:56 pm

Nov 2, 2017

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<Research Report>BofAML Lifts PETROCHINA Target to $6; Cash Flow Resilient

Bank of America Merrill Lynch said in its report that PETROCHINA (00857.HK) 9M17 net profit came in at RMB17.4 billion, representing 67% of the market full-year forecast.

The broker said the company's 3Q EBIT reached RMB16.9 billion, staying flattish quarterly.

Yet, 3Q net profit declined 33% quarterly to RMB4.7 billion. Cash flow continued to improve with resilient performance.

The broker reiterated Buy on the oil producer with the target price raised to HK$6 from HK$5.8 to price in robust demand for natural gas in addition to appealing valuation.

Bank of America Merrill Lynch revised up the full-year profit forecast on PETROCHINA given increased refining and chemical EBIT.

Source: AAStocks Financial News
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Re: Petrochina 0857

Postby winston » Thu Mar 01, 2018 1:58 pm

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<Research Report>UBS Raises 2018 Oil Prices Forecast; Top Pick PETROCHINA among 3 Major Oil Stocks

In its report, UBS said viewing oil price growth from early this year to the present was better than estimates, it raised average Brent crude forecast from US$60/bbl to US$63/bbl this year but leave forecasts of US$65/bbl for the year 2019 and US$70/bbl for the year 2020 unchanged.

The investment bank expected that the earnings per share of PETROCHINA (00857.HK), CNOOC (00883.HK), and SINOPEC CORP (00386.HK) for the year 2018 would increase by 200%, 55%, and 20% respectively.

Its top pick was PETROCHINA as the company had the strongest EPS growth prospects this year.

PETROCHINA was rated Buy, with a target price of $6.9.

Meanwhile, CNOOC was rated Neutral, with a target price of $13.1. SINOPEC CORP's target price was cut from $7.9 to $7.6 and its rating was Buy.

Source: AAStocks Financial News
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Re: Petrochina 0857

Postby winston » Thu Mar 01, 2018 2:09 pm

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Feb 22, 2018

<Research Report>M Stanley Upgrades PETROCHINA(00857.HK) to Overweight with Target Lifted to $6.36

Morgan Stanley, in its report, said that shares in PETROCHINA(00857.HK) have receded 15% from the peak of end January.

It is believed that the market should factored in possible E&P earnings beat and positive special dividend.

Payout is expected to be 100%, indicating dividend yield of 2.3%. However, the profit warning earlier came in a disappointment and investors should have trimmed 2018 natural gas profit forecast, implying less negative surprise in 2Q-3Q.

The investment rating was upgraded to Overweight from Equalweight. The target price for H shares was lifted to HKD6.36 from HKD6.12 and that for A shares was raised to RMB5.15 from RMB5.14.

The broker expected Brent oil price to reach USD75 on average in 3Q18 due to further tightening of inventory.

The current oil price of USD65 per barrel implied 15% upside.

Of all three major oil stocks, PETROCHINA was the top pick due to highest earnings sensitivity to oil price movements and rising earnings exposure to E&P.

Source: AAStocks Financial News
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Re: Petrochina 0857

Postby winston » Thu Mar 01, 2018 2:10 pm

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Jan 31, 2018

<Research Report>Citi: PETROCHINA (00857.HK) 1Q18 Results May Further Improve; Being Industry Top Pick

In its report, Citigroup said PETROCHINA (00857.HK) issued positive profit alert, expecting yearly profit growth of 165%-203% for 2017 pursuant to PRC GAAP.

The research house expected the company's results to see further improvement in 1Q18, adding the profitability of its exploration and production business is likely to strengthen.

Citigroup preferred PETROCHINA over CNOOC (00883.HK), considering the former to have more upside.

The research house assumed limited impact of positive profit alert of PETROCHINA on its share price and hence rating was kept Buy with target price of $7.4.

Source: AAStocks Financial News
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Re: Petrochina 0857

Postby winston » Thu Mar 01, 2018 2:12 pm

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Jan 31, 2018

<Research Report>Nomura: PETROCHINA (00857.HK) Profit Miss May Be due to Losses in Winter LNG Imports

PETROCHINA (00857.HK) estimated that based on PRC GAAP, the net profit of the Company for 2017 will increase by 165%-203% to RMB20.9-23.9 billion as compared with the previous year, Nomura cited in its report.

The net profit after deduction of non-recurring loss/profit will be RMB24.6-27.6 billion. The two net profits were 16% and 5% below street consensus.

Nomura believed that falling profit at 4Q17 may be due to losses in spot LNG imports during the winter to mitigate the gas shortage in China, and potential asset impairments.

The research house maintained PETROCHINA at Buy with target price of $6.73.

Source: AAStocks Financial News
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Re: Petrochina 0857

Postby winston » Tue Jun 26, 2018 12:56 pm

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Chinese Stocks to Consider: PetroChina Company (PTR)

Most Americans first heard of PetroChina Company (NYSE:PTR) because of Warren Buffett’s past interest. The investment guru behind Berkshire Hathaway (NYSE:BRK.A, NYSE:BRK.B) sold his initial $500 million stake for $3.5 billion before the financial crisis. He also claimed that he “sold too soon.”

Many years later, the PTR stock price remains below 2007 levels. Also, its current P/E of about 30 appears pricey. However, that could soon change.

The company reported a tripling of profits in 2017 on cost cuts and higher energy prices. For 2018, they report an expected profit of $7.43, which means another triple-digit percentage increase if that estimate holds. Though profit growth will slow in 2019, they forecast profit growth of around 30% in 2020.

PTR stock also benefits from the duopoly that exists in the Chinese oil and gas industry. Along with China Petroleum & Chemical Corp (NYSE:SNP), these Chinese stocks dominate both the wholesale and retail petroleum business within China.

PTR also focuses internationally. In fact, involvement in Sudan motivated many American investors to divest PTR stock in 2005. However, it has also made less controversial deals in places such as Kazakhstan, Australia and Canada over the years. This helps to secure oil and natural gas supplies to fuel China’s economic boom.

Rising prices allow PTR to sell this energy at a higher profit. With rising energy prices and a lack of dependence on the U.S., PTR stock should perform well with or without a trade war.

Source: Investor Place
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Re: Petrochina 0857

Postby winston » Tue Jul 31, 2018 8:07 am

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PetroChina expects 28b yuan windfall

by Jimmy Ding

PetroChina (0857) said it expects net profit to more than double for the first six months, as a result of cost optimization and increased prices of natural gas, crude oil, refined oil and other products.

Net profit is expected to jump to between 26.17 billion yuan and 28.17 billion yuan for the first half of 2018, from 12.67 billion yuan in the same period last year.

Source: The Standard
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