Connor Clark & Lunn Investment Management Ltd. Decreases Stock Position in PetroChina Company Limited (NYSE:PTR)

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in shares of PetroChina Company Limited (NYSE:PTR) by 87.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,421 shares of the oil and gas company’s stock after selling 31,500 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in PetroChina were worth $289,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PTR. Crossmark Global Holdings Inc. grew its stake in shares of PetroChina by 1.1% in the 4th quarter. Crossmark Global Holdings Inc. now owns 25,515 shares of the oil and gas company’s stock valued at $1,570,000 after buying an additional 273 shares during the period. Lindbrook Capital LLC raised its holdings in shares of PetroChina by 225.6% in the 1st quarter. Lindbrook Capital LLC now owns 407 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 282 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of PetroChina by 53.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,384 shares of the oil and gas company’s stock valued at $86,000 after purchasing an additional 485 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of PetroChina by 26.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,646 shares of the oil and gas company’s stock valued at $173,000 after purchasing an additional 557 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI raised its holdings in shares of PetroChina by 33.1% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 3,432 shares of the oil and gas company’s stock valued at $211,000 after purchasing an additional 853 shares in the last quarter. 0.23% of the stock is owned by institutional investors.

PetroChina stock traded up $0.52 during midday trading on Wednesday, hitting $55.75. 71,300 shares of the company’s stock were exchanged, compared to its average volume of 89,884. The stock has a market cap of $101.08 billion, a PE ratio of 12.97 and a beta of 1.24. The business has a 50 day moving average price of $56.61. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.58 and a current ratio of 0.88. PetroChina Company Limited has a 12-month low of $54.12 and a 12-month high of $83.24.

PetroChina (NYSE:PTR) last issued its earnings results on Monday, April 29th. The oil and gas company reported $0.40 earnings per share for the quarter. PetroChina had a net margin of 2.20% and a return on equity of 3.72%. The business had revenue of $95.38 billion for the quarter. Research analysts anticipate that PetroChina Company Limited will post 4.58 earnings per share for the current fiscal year.

The business also recently disclosed a special dividend, which will be paid on Monday, August 12th. Investors of record on Thursday, June 20th will be paid a $0.4059 dividend. This is a boost from PetroChina’s previous special dividend of $0.32. The ex-dividend date of this dividend is Wednesday, June 19th. This represents a dividend yield of 2.85%. PetroChina’s dividend payout ratio (DPR) is 38.14%.

A number of brokerages have recently weighed in on PTR. Credit Suisse Group lowered shares of PetroChina from a “neutral” rating to an “underperform” rating in a report on Monday, June 3rd. Zacks Investment Research upgraded shares of PetroChina from a “strong sell” rating to a “hold” rating and set a $47.00 price objective on the stock in a report on Monday, June 3rd. Citigroup upgraded shares of PetroChina from a “neutral” rating to a “buy” rating and set a $57.45 price objective on the stock in a report on Friday, May 24th. TheStreet lowered shares of PetroChina from a “b-” rating to a “c+” rating in a research note on Friday, May 17th. Finally, Goldman Sachs Group upgraded shares of PetroChina from a “neutral” rating to a “buy” rating and set a $74.00 price target on the stock in a research note on Tuesday, May 14th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $71.11.

PetroChina Profile

PetroChina Company Limited, together with its subsidiaries, engages in a range of petroleum related products, services, and activities in Mainland China and internationally. It operates through Exploration and Production, Refining and Chemicals, Marketing, and Natural Gas and Pipeline segments. The Exploration and Production segment engages in the exploration, development, production, and marketing of crude oil and natural gas.

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Institutional Ownership by Quarter for PetroChina (NYSE:PTR)

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