PetroChina Company Limited (ADR) (PTR) is Downgraded by Morgan Stanley to Underweight

PetroChina Company Limited (ADR) (PTR) was Downgraded by Morgan Stanley to ” Underweight”. Earlier the firm had a rating of “Equal-Weight ” on the company shares. Morgan Stanley advised their investors in a research report released on May 10, 2016.

Many Wall Street Analysts have commented on PetroChina Company Limited (ADR). PetroChina Company Limited (ADR) was Upgraded by BofA/Merrill to ” Buy” on Apr 18, 2016. PetroChina Company Limited (ADR) was Downgraded by Credit Suisse to ” Underperform” on Mar 23, 2016. PetroChina Company Limited (ADR) was Downgraded by HSBC Securities to ” Reduce” on Mar 10, 2016.

PetroChina Company Limited (ADR) closed down -1.46 points or -2.05% at $69.78 with 1,98,554 shares getting traded on Friday. Post opening the session at $69.35, the shares hit an intraday low of $69 and an intraday high of $70.53 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

PetroChina Company Limited is an oil and gas producer and seller. The Company operates in four segments: Exploration and Production Refining and Chemicals Marketing and Natural Gas and Pipeline. The Company’s Exploration and Production segment is engaged in the exploration development production and marketing of crude oil and natural gas. The Company’s Refining and Chemicals segment is engaged in the refining of crude oil and petroleum products production and marketing of primary petrochemical products and derivative petrochemical products and other chemical products. The Company’s Marketing segment is engaged in the marketing of refined products and trading business. The Company’s Natural Gas and Pipeline segment is engaged in the transmission of natural gas crude oil and refined products and the sale of natural gas.

PetroChina Company Limited (ADR)

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