Trexquant Investment LP bought a new position in PetroChina Company Limited (NYSE:PTR) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 4,431 shares of the oil and gas company’s stock, valued at approximately $284,000.
A number of other hedge funds also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its position in PetroChina by 5.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 444,854 shares of the oil and gas company’s stock worth $27,265,000 after buying an additional 23,637 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of PetroChina by 18.7% during the 2nd quarter. Renaissance Technologies LLC now owns 396,700 shares of the oil and gas company’s stock valued at $24,310,000 after purchasing an additional 62,600 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of PetroChina during the 2nd quarter valued at $8,506,000. BT Investment Management Ltd bought a new position in shares of PetroChina during the 2nd quarter valued at $6,507,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of PetroChina by 3,221.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 46,104 shares of the oil and gas company’s stock valued at $2,825,000 after purchasing an additional 44,716 shares in the last quarter. Institutional investors own 0.20% of the company’s stock.
A number of research firms have recently weighed in on PTR. Nomura began coverage on shares of PetroChina in a report on Wednesday. They set a “buy” rating on the stock. BidaskClub downgraded shares of PetroChina from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. Finally, Zacks Investment Research downgraded shares of PetroChina from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $76.00.
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PetroChina Company Limited is a China-based company principally engaged in the production and distribution of oil and gas. The Company mainly operates through four business segments. The Exploration and Production segment is principally engaged in the exploration, development, production and sales of crude oil and natural gas.
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