PetroChina Company Limited (NYSE:PTR) announced a special dividend on Monday, September 3rd, Wall Street Journal reports. Investors of record on Thursday, September 13th will be paid a dividend of 0.325 per share by the oil and gas company on Tuesday, November 13th. This represents a dividend yield of 1.07%. The ex-dividend date is Wednesday, September 12th.
PetroChina has decreased its dividend by an average of 33.2% annually over the last three years. PetroChina has a payout ratio of 23.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect PetroChina to earn $7.77 per share next year, which means the company should continue to be able to cover its $1.75 annual dividend with an expected future payout ratio of 22.5%.
Shares of NYSE PTR opened at $73.10 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.82 and a quick ratio of 0.55. PetroChina has a 1-year low of $61.87 and a 1-year high of $85.02. The firm has a market cap of $131.52 billion, a P/E ratio of 41.07 and a beta of 1.44.
PTR has been the subject of several recent research reports. Zacks Investment Research raised PetroChina from a “sell” rating to a “hold” rating in a report on Friday, June 1st. Sanford C. Bernstein raised PetroChina from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $60.69 to $82.69 in a report on Monday, May 28th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. PetroChina has an average rating of “Buy” and an average target price of $85.35.
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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