Back to top
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
BHP Group Limited Sponsored ADR (BHP) - $25 value - yours FREE >>
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
BHP Group Limited Sponsored ADR (BHP) - $25 value - yours FREE >>
Image: Bigstock
PetroChina Upgraded to Strong Buy on Solid Fundamentals
On Jun 10, 2016, Zacks Investment Research upgraded PetroChina Co. Ltd. to a Zacks Rank #1 (Strong Buy). Going by the Zacks model, companies holding a Zacks Rank #1 have strong chances of outperforming the broader market over the next few quarters.
Why the Upgrade?
Incorporated in 1999, PetroChina is headquartered in Beijing. The company is one of the leading integrated oil companies in the People’s Republic of China and is involved in the production and distribution of oil and gas.
The company boasts a strong balance sheet and robust portfolio of assets. This makes it better suited to handle volatile market conditions than most of its peers.
The growth prospects of the company are particularly attractive in the downstream sectors. Strong growth in China’s middle class and in automobile ownership is expected to fuel consumption of refined petroleum products. Also, the company’s natural gas business offers lucrative growth prospects in the coming years as China moves from coal to natural gas.
Moreover, PetroChina’s strategic initiatives will provide it with global resource and an expanded market base, thereby making it a leading international energy player. The company’s investment in a joint venture with Canada's Encana Corp. (ECA) in Alberta to develop natural gas/condensates assets and the purchase of BHP Billiton Ltd.'s (BHP - Free Report) interests in the proposed Western Australian Browse liquefied natural gas (LNG) project. Additionally, these ventures will hedge the company against uncertain Chinese product pricing policies.
PETROCHINA ADR Price and Consensus
PETROCHINA ADR Price and Consensus | PETROCHINA ADR Quote
Other Stocks to Consider
Other favorably placed stocks from the broader energy sector are Braskem S.A. (BAK - Free Report) , and Sasol Ltd. (SSL - Free Report) . Both these stocks sport a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>