Do Not Take Profits On PetroChina, Despite Its Spectacular Rally

2025-10-04 10:09:45 ET

In early 2021, I recommended buying PetroChina ( PCCYF ) for its promising growth prospects and its cheap valuation. Since then, the stock has offered an eye-opening total return of 346%, and thus it has outperformed the S&P 500 (+77%) by an impressive margin. I reiterated my bullish thesis about six months later, with similar results since that article. Last year, I recommended holding PetroChina, as the stock was not as attractive as it was before the extraordinary rally, but it remained reasonably valued. I reiterated my hold rating about six months ago, as the cheap valuation of the stock mitigated its risk amid a deteriorating outlook of the oil market. Since that article, the stock has outperformed the S&P 500 by a wide margin, as it has offered a total return of 28%, whereas the index has rallied 17%....

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