A Look At PetroChina (SEHK:857) Valuation After First Quarter Earnings Resilience

Simply Wall St.

04/30

AdvertisementEarnings trigger and what it means for PetroChina shares PetroChina (SEHK:857) just released first quarter 2026 results, with sales at CNY 736,383 million compared with CNY 753,056 ...

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PetroChina’s 90 day share price return of...","collect":0,"end_time":0,"defaultTopTitle":"simplywall.st","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0244354667.USD":"SCHRODER ISF CHINA OPPORTUNITIES \"A\" ACC","LU1048588211.SGD":"Blackrock Asian Dragon A2 SGD-H","LU0359201612.USD":"贝莱德中国基金A2","LU1251922891.USD":"NINETY ONE GSF ALL CHINA EQUITY \"A\" (USD) ACC","LU0314109678.HKD":"MANULIFE GF DRAGON GROWTH \"AA\" (HKD) INC","LU1497734951.SGD":"Eastspring Investments - Asian Low Volatility Equity Fund ASDM SGD-H","LU0072462343.USD":"贝莱德亚洲巨龙基金","LU2328871848.SGD":"Eastspring Investments - China A Shares Growth AS SGD","LU1023057109.AUD":"BGF CHINA \"A2\" (AUDHDG) ACC","LU0326950275.SGD":"Schroder ISF China Opportunities A Acc SGD-H","BK1528":"石油股票概念","LU0348805143.USD":"ALLIANZ ENHANCED ALL CHINA EQUITY \"A\" (USD) INC","LU1808992512.USD":"AB ALL CHINA EQUITY PORTFOLIO \"A\" (USD) ACC","LU0405327148.USD":"ALLSPRING CHINA A FOCUS \"A\" (USD) ACC","LU0181495838.USD":"施罗德新兴亚洲A Acc","LU0890818403.SGD":"JPMorgan Funds - Emerging Markets Dividend A (mth) SGD-H","LU1303224171.USD":"NINETY ONE GSF ALL CHINA EQUITY \"A\" (USD) INC","SG9999006597.SGD":"United China-India Dynamic Growth SGD","IE00BWDBJ730.SGD":"Legg Mason QS - MV Asia Pacific ex Japan Equity Growth and Income A Mdis SGD-H Plus","IE00BQJZWZ67.USD":"FRANKLIN MV ASIA PACIFIC EX JAPAN EQUITY GROWTH AND INCOME \"A\" (USD) INC (M) PLUS","LU2097828631.EUR":"AZ EQUITY CHINA \"A\" (EUR) ACC","LU0320764599.SGD":"FTIF - Templeton China A Acc SGD","LU0348784397.USD":"ALLIANZ ORIENTAL INCOME \"A\" (USD) ACC","SG9999001093.SGD":"United Greater China Fund A Acc SGD","00857":"中国石油股份","LU1794554557.SGD":"Allianz All China Equity AT Acc H2-SGD","LU0611395673.USD":"NINETY ONE GSF EMERGING MARKETS EQUITY \"A\" (USD) ACC","LU0708995583.HKD":"TEMPLETON CHINA \"A\" (HKD) ACC","LU0640798160.USD":"EASTSPRING INVESTMENTS GLOBAL EMERGING MARKET DYNAMIC \"A\" (USD) ACC","LU1785774172.SGD":"JPM TOTAL EMERGING MARKETS INCOME \"A\" (SGD) INC","LU2039709279.SGD":"MANULIFE GF DRAGON GROWTH \"AA\" (SGDHDG) INC","LU0469268626.HKD":"AB FCP I-ASIA EX JAPAN EQUITY PTF(AD","LU0862451837.USD":"JPM EMERGING MARKETS DIVIDEND \"A\" (USD) INC (M)","LU0348783662.USD":"ALLIANZ ORIENTAL INCOME \"A\" (USDHDG) INC","LU0327786744.USD":"Janus Henderson Horizon China Opportunities A2 USD","LU1969619763.USD":"EASTSPRING INV CHINA A SHARES GROWTH \"A\" (USD) ACC","LU1282651121.HKD":"ALLIANZ GEM EQUITY HIGH DIVIDEND \"AMG\" (HKD) INC","LU0211977185.USD":"EASTSPRING INVESTMENTS GREATER CHINA EQUITY \"A\" ACC","LU0441854154.USD":"JPM ASIA PACIFIC EQUITY \"A\" (USD) ACC","LU0417516571.SGD":"Allianz Oriental Income Cl AT Acc SGD","LU0140636845.USD":"施罗德大中华区股票A Acc","LU0417516902.SGD":"Allianz China Equity Cl AT Acc SGD","LU0405327494.USD":"ALLSPRING CHINA A FOCUS \"I\" (USD) ACC","DCF":"Dreyfus Alcentra Global Credit Income 2024 Target Term Fund, Inc","LU2399975544.HKD":"ALLIANZ ALL CHINA EQUITY \"AT\" (HKD) ACC","LU2097828474.EUR":"AZ EQUITY CHINA \"A\" (EUR) ACC A","BK1521":"挪威政府全球养老基金持仓","LU2293587155.HKD":"ALLIANZ ORIENTAL INCOME \"AT\" (HKD) ACC","LU0348827113.USD":"ALLIANZ RCM CHINA \"AT\" ACC","LU0173614495.USD":"富达中国焦点A"},"translate_title":"第一季度盈利韧性后的中国石油（SEHK：857）估值","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"DCF":1,"00857":0.9},"content_text":"AdvertisementEarnings trigger and what it means for PetroChina shares PetroChina (SEHK:857) just released first quarter 2026 results, with sales at CNY 736,383 million compared with CNY 753,056 million a year earlier, while net income edged to CNY 48,333 million from CNY 47,452 million. See our latest analysis for PetroChina. The first quarter report, which showed sales of CN¥736,383m and net income of CN¥48,333m, arrived alongside strong share price momentum. PetroChina’s 90 day share price return of 29.63% and 1 year total shareholder return of 117.01% point to investors reassessing both short term prospects and the longer term story. If PetroChina’s recent move has you thinking about other energy related opportunities, this is a good moment to scan 28 elite gold producer stocks With PetroChina trading at HK$12.03, sitting above its analyst price target but showing a large modelled intrinsic discount, the key question is simple: are you looking at an undervalued energy major or a market already pricing in future growth? Price to earnings of 12.2x: Is it justified? On a P/E of 12.2x, PetroChina looks inexpensive compared with both its own estimated fair P/E of 18.5x and the Hong Kong Oil and Gas industry average of 14.5x. The P/E ratio tells you how much investors are paying today for each unit of earnings. For a large, profitable energy group with high quality earnings, this is a straightforward way to compare what the market is charging for its profit stream against peers and an internally modelled fair level. Here, PetroChina screens as trading at a lower P/E than the industry and below the estimated fair P/E level. That suggests the current price may be putting a lower tag on its earnings than both sector peers and the fair ratio level that the market could eventually move toward if sentiment and fundamentals stay aligned. In addition, the stock is described as trading at good value compared to peers and industry, and at a 69.3% discount to an SWS DCF model estimate of future cash flow value of HK$39.15. This reinforces the impression that the current P/E multiple is not stretched. Explore the SWS fair ratio for PetroChina Result: Price to earnings of 12.2x (UNDERVALUED). However, you still need to weigh risks such as energy price volatility and any policy or regulatory shifts that could change returns from PetroChina’s core segments. Find out about the key risks to this PetroChina narrative. Another view on PetroChina’s value While the 12.2x P/E suggests PetroChina is inexpensive next to its 18.5x fair ratio, 14.5x Hong Kong Oil and Gas average and 12.5x peer average, that gap cuts both ways. Is the market offering you a margin of safety here, or signalling that earnings quality is being priced cautiously? See what the numbers say about this price — find out in our valuation breakdown. SEHK:857 P/E Ratio as at Apr 2026Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out PetroChina for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 236 high quality undervalued stocks. If you save a screener we even alert you when new companies match - so you never miss a potential opportunity. Next Steps All this suggests a mixed but interesting picture, so it is worth acting promptly and reviewing the details for yourself using the 3 key rewards and 1 important warning sign Looking for more investment ideas? If you stop with PetroChina, you could miss other opportunities that match your style, so use these focused stock lists to widen your watchlist with purpose.  Target income potential and assess companies offering robust payouts by reviewing the 482 dividend fortresses. Zero in on quality at a reasonable price by scanning the 236 high quality undervalued stocks. Prioritise resilience and steady profiles by checking the 308 resilient stocks with low risk scores.   This article by Simply Wall St is general in nature. We provide commentary based on historical data\n    and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your\n    financial situation. We aim to bring you long-term focused analysis driven by fundamental data.\n    Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.\n    Simply Wall St has no position in any stocks mentioned.New: Manage All Your Stock Portfolios in One PlaceWe've created the ultimate portfolio companion for stock investors, and it's free.• Connect an unlimited number of Portfolios and see your total in one currency• Be alerted to new Warning Signs or Risks via email or mobile• Track the Fair Value of your stocksTry a Demo Portfolio for FreeHave feedback on this article? Concerned about the content? Get in touch with us directly. 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