- PetroChina recently sold certain of its oil & gas pipelines and other mid-stream assets to the national pipeline company, and I have a mixed view on PetroChina's pipeline asset spin-off.
- It is noteworthy that PetroChina has reversed from losses in 2Q 2020 to positive earnings in 3Q 2020, even if gains associated with the pipeline asset spin-off were excluded.
- PetroChina trades at 17.0 times consensus forward FY 2021 P/E, and it offers a consensus forward FY 2021 dividend yield of 4.1%, respectively.
For further details see:
PetroChina: A Mixed View On Pipeline Asset Spin-Off