PetroChina (OTCMKTS:PCCYF) Shares Down 3.7% – Here’s Why

Shares of PetroChina Company Limited (OTCMKTS:PCCYF) fell 3.7% on Wednesday . The stock traded as low as $1.04 and last traded at $1.04. 20,000 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 58,626 shares. The stock had previously closed at $1.08.

PetroChina Stock Performance

The company’s 50 day simple moving average is $1.07 and its 200 day simple moving average is $0.97.

PetroChina Company Profile

PetroChina Company Limited, traded over-the-counter in the U.S. as PCCYF, serves as the publicly listed arm of China National Petroleum Corporation (CNPC), one of the world’s largest integrated energy companies. Established in 1999 and headquartered in Beijing, PetroChina engages in a full range of activities across the oil and gas value chain. The company is responsible for exploration, development and production of crude oil and natural gas reserves, capitalizing on extensive onshore and offshore assets throughout China.

In its midstream operations, PetroChina develops and manages pipeline networks, storage terminals and liquefied natural gas (LNG) facilities that support the domestic energy grid.