PetroChina Company Limited (NYSE: stock symbol PTR) is a Chinese oil company and is the listed arm of state-owned China National Petroleum Corporation (CNPC), headquartered in Dongcheng District, Beijing. It’s China’s largest oil producer. Traded in Hong Kong and New York, the mainland enterprise announced its plans to issue stock in Shanghai in November 2007, and subsequently entered trading on the Shanghai index.
PetroChina was established as a joint stock company with limited liabilities under the Company Law of the People’s Republic of China (the PRC) on November 5, 1999, as part of the restructuring of CNPC. In the restructuring, CNPC injected into PetroChina most of the assets and liabilities of CNPC relating to its exploration and production, refining and marketing, chemicals and natural gas businesses.
Although PetroChina is the most profitable company in Asia, this success isn’t just the result of the company’s management, but can also be attributed to the near duopoly on the wholesale and retail business of oil products it shares with Sinopec in China.
What is PetroChina Stock worth Today?
PetroChina is currently trading at around $144.00 which gives them a market cap of just below $270 billion. This makes them the largest petrochemical company in China in terms of market cap, just ahead of rivals Sinopec.
PetroChina Stock History Chart
PetroChina Stock Price History
PetroChina has been on a bit of rollercoaster ride lately, in late 2007 the price went on rally all the way up to $250 only to fall back again almost immediately. This was due to mixture of things including the discovery of China’s biggest oil field, the size of which proved to be over exaggerated, soon after the recession started to take hold along with a subsequent weakening of the oil price which caused the price to drop back down again.
The price has still yet to recover to $250 but it has reached the much more realistic $150 range, $250 is probably a little out of reach right now but they should hit $200 within the next year or two.
PetroChina Stock Split History
PetroChina hasn’t had any stock splits since its stock began trading publicly.
When Will PetroChina Stock Split Again?
PetroChina have only being trading since 2007 and for two of those years most Western economies were in recession, so I wouldn’t rule out a split in the near future. I wouldn’t expect a split to take place before the price reaches $300 however.
Does PetroChina Stock Pay a Dividend?
PetroChina pays a quarterly dividend which over the last twelve months has amounted to a yield of 3.2%. This is quite low for the sector, but since the company operates in a developing market you can expect exceptional growth as well. Such a combination of growth and returns is a difficult thing to find in the market right now.
Should You Invest in PetroChina Stock?
As with most Chinese companies PetroChina are experiencing phenomenal growth. With the Chinese economy showing no signs of slowing down that level of growth looks set to continue for the foreseeable future.
There are of course inherent risks when investing in an oil company, especially one without much experience drilling offshore and with unproven safety systems. But you have to take the rough with the smooth and you’re unlikely to find this level of growth along with a healthy dividend from anywhere else in the market right now.
But if you’re prepared to take the risk, PetroChina is good for double digit growth for the next few years, at least until the Chinese and other key Asian markets mature. If you want to get the best deal on PetroChina stock, make sure you check out our list of top 4 online discount brokers. We’ve rated them for platform functionality, training and education and of course price. So you’ll never have to overpay for a stock trade again.