In the latest trading session, PetroChina closed at $45.71, marking a -0.41% move from the previous day. This move lagged the S&P 500's daily loss of 0.08%. Elsewhere, the Dow lost 0.15%, while the tech-heavy Nasdaq lost 0.04%.
Coming into today, shares of the oil and gas company had lost 16.32% in the past month. In that same time, the Oils-Energy sector lost 19.96%, while the S&P 500 lost 6.03%.
Investors will be hoping for strength from PetroChina as it approaches its next earnings release.
For the full year, our Zacks Consensus Estimates are projecting earnings of $11.16 per share and revenue of $464.89 billion, which would represent changes of +44% and +14.66%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for PetroChina. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. PetroChina currently has a Zacks Rank of #4 (Sell).
Looking at its valuation, PetroChina is holding a Forward P/E ratio of 4.11. For comparison, its industry has an average Forward P/E of 4.12, which means PetroChina is trading at a discount to the group.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 43, putting it in the top 18% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.