Seidman Investment Portfolio Organization
|Analyst: Julie VerHage|
|Sector: Basic Materials (NYSE:PTR)|
PetroChina was founded in 1999 as a restructuring of China's National Petroleum Corporation. It was the first company ever to boast a trillion dollar market capitalization, and is currently the world's largest company by market cap. PetroChina has been recognized as the second best company in China by Forbes and has the best dividend payout policy according to FinanceAsia.
PTR saw 37.3% sales growth in 2008, but 2009 revenues have faltered with the collapse of crude oil prices. Like any oil company, profits will be determined by the price of a barrel of crude. Its slight diversification will not protect PTR from another slide in oil prices. Now that oil has retreated from its highs of mid-2008, PTR's best days may be behind it.
Page last modified March 11, 2012