1. The relationship between crude oil price and PetroChina's share price is as follows:
What brought PetroChina back to the public's field of vision was the collapse of international oil prices. Up to now, the "downward channel" has been open for six months, and the international oil price has fallen by more than half.
The logic of ordinary people is that the plunge in oil prices will definitely affect the performance of "two barrels of oil". At present, the oil price that is almost "halved" should be almost over. Buying at a low level may be expected to rise for a long time. Many investors have the above views.
Although the voice of "PetroChina looks at 20 yuan in the short and medium term" is endless, there are definitely not a few conservative investors with a wait-and-see attitude, and there are various reasons to be bearish.
At present, the share price of PetroChina is 12.07 yuan (65438+1closing price on October 9), and the price-earnings ratio is 17 times. Because of long-term trading in Hong Kong stocks and US stocks, traders think that this price is nearly twice as expensive as similar western stocks such as Mobil, Chevron, Shell and BP, and nearly four times more expensive than Russian oil companies.
In addition, the trader believes that the oil industry will go downhill for a long time (30 ~ 50 years) and new energy will continue to innovate.
Second, does PetroChina still have investment value?
PetroChina fell from 48 yuan to 22 yuan at the time of listing, with a drop of more than 50%. It was the hottest company hyped by institutional investors before listing and the most profitable company in Asia. Instead of letting ordinary investors make money, they have locked in a large number of ordinary retail investors (it is said that retail investors are currently the main shareholders of tradable shares). Of course, whether it is offline placement or online subscription, institutional investors must have made a lot of money in PetroChina. Institutional investors with abundant funds are big heads. Without their hype, the opening price of PetroChina's listing will not reach above 48 yuan. After the speculation was high, it began to sell gradually, so that retail investors gradually fell into the dream of making money, and they earned considerable profits from PetroChina.
Some institutional investors began to comment on the investment value of PetroChina again. They now believe that PetroChina has investment value only if it falls below the issue price. The reason given is simple: Hong Kong investors are mature, so how high is the price of PetroChina in the Hong Kong stock market? The price of PetroChina below the issue price is higher than that of Hong Kong stocks. Based on the price-earnings ratio of ExxonMobil, the price of PetroChina below the issue price is not low.
At present, the stock market is not without investment value PetroChina and some large-cap blue-chip stocks will not affect their profitability no matter how they are speculated. China Petroleum is still the most profitable company in Asia. If the price is reasonable, it still has high investment value. Therefore, ordinary investors had better not be intimidated by the hype of institutional investors. Of course, they also hope that the supervision of the capital market will be more standardized and the government's macro-control of the capital market will be more reasonable. Only the capital market that benefits most ordinary investors is healthy and can continue to grow and develop.