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<Research>JPM Expects PETROCHINA (00857.HK) to Expand Natural Gas Profit Margin This Yr, Keeps TP/ Rating at $13/ Overweight
JPMorgan issued a research report expecting that PETROCHINA (00857.HK) will be one of the most advantaged energy stocks amid ongoing disruptions in Middle Eastern oil and gas suppl...
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<Research>JPM Expects PETROCHINA (00857.HK) to Expand Natural Gas Profit Margin This Yr, Keeps TP/ Rating at $13/ Overweight
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JPMorgan issued a research report expecting that PETROCHINA (00857.HK)  -0.030 (-0.275%)    Short selling $312.57M; Ratio 33.468%   will be one of the most advantaged energy stocks amid ongoing disruptions in Middle Eastern oil and gas supply, with over 70% of its natural gas sales and about 80% of its crude oil processing volume coming from domestic production and pipeline oil & gas imports.

The broker estimated that, benefiting from lower natural gas procurement costs, PETROCHINA's 2026 domestic natural gas operating profit margin will expand from RMB0.25 per cubic meter to RMB0.3 per cubic meter. Its 2026 DPS is predicted to be solid at RMB0.63, with an H-share dividend yield of 6.4%.

Therefore, JPMorgan lowered its 2026 EPS forecast for PETROCHINA by 10% to reflect a slight increase in refining losses, and kept its target price/ rating at $13/ Overweight.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-15 16:25.)

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