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PetroChina (PTR) Gains As Market Dips: What You Should Know

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PetroChina (PTR - Free Report) closed at $54 in the latest trading session, marking a +0.71% move from the prior day. This move outpaced the S&P 500's daily loss of 1.64%. At the same time, the Dow lost 1.05%, and the tech-heavy Nasdaq lost 0.41%.

Heading into today, shares of the oil and gas company had gained 6.26% over the past month, lagging the Oils-Energy sector's gain of 13.83% and outpacing the S&P 500's gain of 0.73% in that time.

Wall Street will be looking for positivity from PetroChina as it approaches its next earnings report date.

PTR's full-year Zacks Consensus Estimates are calling for earnings of $11.16 per share and revenue of $464.89 billion. These results would represent year-over-year changes of +44% and +14.66%, respectively.

Investors should also note any recent changes to analyst estimates for PetroChina. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.93% lower within the past month. PetroChina is holding a Zacks Rank of #3 (Hold) right now.

Digging into valuation, PetroChina currently has a Forward P/E ratio of 4.81. Its industry sports an average Forward P/E of 5.13, so we one might conclude that PetroChina is trading at a discount comparatively.

The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 59, which puts it in the top 24% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow PTR in the coming trading sessions, be sure to utilize Zacks.com.


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