PetroChina (PTR) NewsBite - PetroChina Up on Higher Oil Prices

Posted on Wednesday, June 18, 2008 10:17 AM

PetroChina Co. Ltd. (PTR) opened at 135.76. So far today, the stock has hit a low of 134.00 and a high of 135.76. PTR is now trading at 134.50, up 2.48 (1.83%). The stock hit its 52 week high of 266.81 in October and set its 52 week low of 59.50 in March. PTR has been falling since November of last year. Shares of PetroChina have been rising with other energy producers due to higher crude oil prices. Technical indicators for the stock are neutral but deteriorating while S&P gives PTR a positive 4 STARS (out of 5) buy rating. If you’re looking for a hedged play on this stock, consider a July bull-put credit spread below the $115 range. PTR stock could fall up to 14.5% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]

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