Petrochina’s Stock Price Falls 0.55% to 7.17 HKD

Petrochina (857)

7.17 HKD -0.04 (-0.55%) Volume: 103.25M

Petrochina (857) ended the trading session with a slight dip, closing at 7.17 HKD, marking a 0.55% decline. Despite this fluctuation, the stock continues to perform well on a YTD basis, with a significant gain of 38.95%. Witnessing a moderate trading volume of 103.25M shares during the session, the stock’s valuation remains a focal point for investors.

Latest developments on Petrochina

PetroChina‘s (00857) stock price has seen fluctuations today following a bearish block trade. The trade involved 976K shares valued at $7.008 million, executed at $7.18 per share. This notable transaction has contributed to the stock’s price movements, attracting attention from investors and analysts.

Petrochina on Smartkarma

According to Osbert Tang, CFA, an independent analyst on Smartkarma, there are concerns about PetroChina‘s ability to maintain its strong performance in 2024. Tang notes that the company has not maintained its position as one of the best performers in the Hang Seng Index (HSI) for two consecutive years, and doubts that it will sustain good performance in 2024.

Tang also questions the consensus growth forecasts of 4.4% and 4.3% for PetroChina‘s fiscal years 2024 and 2025. He argues that these projections are overly optimistic, as PetroChina has not experienced five consecutive years of growth in the past. Furthermore, Tang highlights the potential impact of crude oil prices on PetroChina‘s performance. While oil prices have returned to their late 2022 levels, PetroChina‘s share price remains 50% higher. A return to the high correlation between oil prices and PetroChina‘s share price observed before 2023 could result in underperformance for the company.

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

**PetroChina‘s Long-Term Outlook**

PetroChina, a leading energy company, shows a positive long-term outlook based on its Smartkarma Smart Scores. With high scores in Growth, Resilience, and Momentum, PetroChina is well-positioned to navigate future challenges and capitalize on growth opportunities. The company’s strong focus on exploration, production, refining, and distribution of energy resources ensures its long-term viability. Furthermore, PetroChina‘s commitment to innovation and sustainable practices enhances its resilience and future competitiveness.

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