PetroChina’s Stock Price Soars to 7.38 HKD, Marking a Positive Change of 1.10%

Petrochina (857)

7.38 HKD +0.08 (+1.10%) Volume: 142.64M

Petrochina’s stock price stands at 7.38 HKD, marking a positive trading session with a 1.10% increase and a significant YTD percentage change of +43.02%. With a robust trading volume of 142.64M, Petrochina (857) demonstrates a promising performance in the stock market.

Latest developments on Petrochina

PetroChina has seen significant stock price movements today, underpinned by its robust Q1 2024 performance. The company reported its highest-ever Q1 profit, with 1Q revenue reaching CNY812.18B, up from CNY732.47B. This growth has been bolstered by increased Russian imports and stronger gas sales. Furthermore, PetroChina has experienced profitable growth, even as economic recovery remains uneven. Notably, both bullish and bearish block trades of PetroChina shares were observed, with 800k shares traded at $7.25 and 904k shares at $7.37 respectively.

Petrochina on Smartkarma

Analysts on Smartkarma, such as Osbert Tang, CFA, have provided a bearish outlook on PetroChina (857 HK). In a research report titled “PetroChina (857 HK): An Interesting Contrarian View,” doubts have been raised about PetroChina‘s ability to sustain good performance in 2024. Historical patterns, over-aggressive growth forecasts, and a potential underperformance linked to crude oil prices are cited as reasons for the skepticism. Consensus growth forecasts for FY24-25 are questioned, as PetroChina has not historically sustained as one of HSI’s best-performing stocks for two consecutive years. The report highlights the discrepancy between the crude oil price and PetroChina‘s share price, indicating a potential for underperformance if the correlation reverts to pre-2023 levels.

A look at Petrochina Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Based on the Smartkarma Smart Scores, PetroChina has a promising long-term outlook. With high scores in Growth and Momentum, the company is positioned for future success in the energy sector. Additionally, its strong scores in Value, Dividend, and Resilience indicate stability and potential for continued growth in the market.

PetroChina Company Limited, a leading player in the oil and gas industry, is well-positioned for long-term success according to the Smartkarma Smart Scores. With a focus on exploration, production, refining, and distribution of energy resources, PetroChina‘s high scores in Growth and Momentum highlight its potential for continued expansion and profitability in the market.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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