Petrochina 0857

[winston]

not vested

<Research>UBS: PETROCHINA (00857.HK) to Continue to Focus on Shareholder Return While Pursuing Solid Operating Performance

PETROCHINA (00857.HK) 's management believed that oil prices at US$70 to US$90 per barrel are favorable to its upstream segment, UBS released a research report saying.

The Group adheres to the upstream strategy of “stabilizing oil production and increasing gas output”, and expects its natural gas output to grow by 5-6% in the next few years, while actively expanding its overseas oil and gas reserves.

Therefore, UBS rated PETROCHINA's A shares (601857.SH) at Buy, with a target price of RMB13.3.

PETROCHINA's management emphasized effective cost control at refineries and cost advantages in its gas-based ethylene projects, UBS added.

The Company will continue to focus on shareholder return while pursuing solid operating results.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/analy ... stock-news

[winston]

Top O&G proxy

FY24 results broadly in line with consensus, achieving a record profit of Rmb165bn (+2% y/y)

Declared Rmb0.25 final DPS, with full year DPS at Rmb0.47, translating to an attractive 8% yield

Petrochina remains our preferred O&G proxy for China’s economic recovery and demand for O&G

Reiterate BUY with higher TP of HKD7.30 as we raise valuation multiple for Refining & Chemicals and Natural Gas segments

Source: DBS

https://www.dbs.com/insightsdirect/comp ... ecid=24638

[winston]

not vested

Research>DBS: PETROCHINA (00857.HK) TP Lifted to $12.2 as Best Oil Alternative Investment

PETROCHINA (00857.HK) is the largest integrated oil major in China, and plays a key role in advancing China's carbon neutrality policy and energy transition, and is regarded as the best oil alternative investment, DBS Group Research issued a research report saying.

The broker expected that, driven by elevated oil prices and a recovery in downstream operations, PETROCHINA's 2026 earnings will rise and remain at a high level, supporting its capital expenditure and dividend distribution.

Based on a dividend payout ratio of about 50-55%, dividend yield for the next two years is forecasted to reach 5%.

Related News: BofAS Raises Oil Price Forecast for This Year, Lifts PETROCHINA (00857.HK) TP to HKD12

Therefore, DBS Group Research raised its 2026/ 2027 earnings forecasts for PETROCHINA by 9%/ 1%, and lifted its SOTP-based target price to $12.2, with rating kept at Buy.

Source: AASTOCKS Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN