Research Desk Line-up: Sasol Post Earnings Coverage

LONDON, UK / ACCESSWIRE / September 13, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on PetroChina Co. Ltd (NYSE: PTR), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=PTR, following the Company's release of its financial results on August 24, 2017, for the first half fiscal 2017 (H1 FY17). The Beijing, China-based Company's revenues for the reported period grew 32% y-o-y. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Major Integrated Oil & Gas industry. Pro-TD has currently selected Sasol Limited (NYSE: SSL) for due-diligence and potential coverage as the Company released on August 21, 2017, its annual financial results which ended on June 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Sasol when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on PTR; also brushing on SSL. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=PTR

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Earnings Reviewed

During H1 FY17, PetroChina's revenues came in at RMB975.91 billion, which came in above the RMB739.07 billion recorded at the end of H1 FY16. The Company attributed the growth in quarterly revenues to the rise in the prices of crude oil, natural gas, refined products and other main products, and the increase in the sales volume.

The oil and gas Company's profit for the period stood at RMB20.96 billion compared to RMB16.91 billion in H1 FY16. The Company's profit for the period attributable to owners of the Company increased to RMB12.68 billion, or RMB0.069 per share, during the reported period from RMB531 million, or RMB0.003 per share, in H1 FY17.

Operating Metrics

PetroChina' cost of sales was RMB777.15 billion in the reported period compared to RMB566.90 billion in the last year's comparable period. The Company's general and administrative (G&A) expenses increased to RMB36.05 billion during H1 FY17 from RMB40.38 billion in the past year's corresponding period. The Company reported operating profit of RMB31.32 billion for H1 FY17 versus RMB25.79 billion in H1 FY16.

In H1 FY17, PetroChina's crude oil sales volume was 57.08 billion tons up from 53.26 billion ton in H1 FY16. Natural gas sales increased 14.0% to 983.32 million cubic meters in H1 FY17 from 862.59 42 million cubic meters the prior year's same period. Gasoline sales volume grew 4.2% to 31.74 billion ton during H1 FY17 from 30.47 billion ton in H1 FY16. Furthermore, diesel sales volume was 41.93 billion ton during the reported period, up 10.3% from 38.03 billion ton in H1 FY16.

PetroChina's Segment Performance

Exploration & Production segment's sales revenue increased 33.0% to RMB242.62 billion in H1 FY17 from RMB182.48 billion in the year ago same period. The segment's operating expense in H1 FY17 was RMB235.70 billion compared to RMB184.90 billion in H1 FY16. Meanwhile, the segment's operating profit came in at RMB6.92 billion in H1 FY17versus operating loss of RMB2.42 billion in H1 FY16.

During H1 FY17, Refining and Chemicals segment's sales revenues came in at RMB331.70 billion rising 18.0% from RMB280.99 billion in H1 FY16. The segment reported operating expenses of RMB315.87 billion in H1 FY17 compared to RMB253.52 billion in H1 FY16. Furthermore, the segment's operating profit increased to RMB15.84 billion in H1 FY17 from RMB27.47 billion in H1 FY16.

Marketing segment's revenues were of RMB805.26 billion for the reported period, which came in 37.0% above the RMB587.68 billion recorded in the year ago comparable period. The segment's operating expenses was RMB799.58 billion for H1 FY17 versus RMB583.07 billion in H1 FY16. Additionally, the segment's operating profit for H1 FY17 stood at RMB5.68 billion versus RMB4.61 billion in the prior year's comparable period.

For the reported period, Natural Gas and Pipeline segment's sales revenues were up by 16.6% to RMB142.65 billion from RMB122.34 billion in H1 FY16. The segment's operating expenses was RMB128.72 billion for H1 FY17 compared to RMB110.91 billion in H1 FY16. Moreover, the segment's operating profit increased to RMB13.93 billion in H1 FY17 from RMB11.43 billion in the previous year's comparable period.

Cash Matters and Balance Sheet

In the period ended June 30, 2017, PetroChina's net cash flows from operating activities was RMB144.83 billion compared to RMB111.84 billion in the prior year's same period. The Company's capital expenditure was RMB62.34 billion in the reported period compared to RMB50.87 billion, during the first half of 2016.

The Company's cash and cash equivalents balance increased to RMB114.54 billion as on June 30, 2017, from RMB97.93 billion at the close of books on December 31, 2016. Meanwhile, the Company's long-term borrowings were down to RMB300.19 billion as on June 30, 2017, from RMB372.89 billion as on December 31, 2016.

Stock Performance

On Tuesday, September 12, 2017, the stock closed the trading session at $64.70, marginally falling 0.64% from its previous closing price of $65.12. A total volume of 161.72 thousand shares have exchanged hands, which was higher than the 3-month average volume of 107.34 thousand shares. PetroChina's stock price advanced 2.03% in the last one month and 0.08% in the past three months. The stock is trading at a PE ratio of 38.81 and has a dividend yield of 2.46%. The stock currently has a market cap of $216.77 billion.

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