PetroChina (PTR) closed the last trading day at $50.01, moving +1.69% from the previous trading session. This change outpaced the S&P 500’s 0.02% gain on the day. Meanwhile, the Dow Jones gained 0.03% and the tech-heavy Nasdaq lost 0.16%.
Going into today, shares of the oil and gas company had gained 0.39% over the past month, outpacing the Oil & Energy sector’s 1.22% loss and 12.5% loss. % of the S&P 500 during this period.
Investors are hoping for strength from PetroChina ahead of its next earnings release.
For the full year, our Zacks consensus estimates call for earnings of $11.16 per share and revenue of $464.89 billion, which would represent variations of +44% and +14.66% , respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for PetroChina. These revisions help show the ever-changing nature of short-term trading trends. Therefore, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Based on our research, we believe that these estimate revisions are directly related to the team’s close stock movements. Investors can take advantage of this by using the Zacks ranking. This model accounts for these estimation changes and provides a simple and actionable scoring system.
The Zacks ranking system ranges from #1 (strong buy) to #5 (strong sell). It has a remarkable, externally audited track record of success with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has risen by 10, 61%. PetroChina is currently a Zacks Rank #3 (Hold).
In terms of valuation, PetroChina is currently trading at a Forward P/E ratio of 4.41. This represents a discount to the average PER of its sector of 4.77.
The Oil and Gas – Integrated – International industry is part of the Oil & Energy sector. This group has a Zacks industry ranking of 82, which places it in the top 33% of over 250 industries.
The Zacks Industry Ranking assesses the strength of our industry groups by measuring the average Zacks Ranking of individual stocks within the groups. Our research shows that the top 50% of industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and more, at Zacks.com.
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PetroChina Company Limited (PTR): Free Inventory Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.