Large-cap Chinese energy companies worth a look

With shares of American energy companies like APA(nat gas), ACI(coal), and XOM(oil) hitting new 52-week highs on an almost daily basis, it's worth looking abroad for underperformers in the sector
Chinese firms PTR and SNP have come well down off their highs in conjunction with the Shanghai Composite, which at 3147 is roughly 50% off of its October highs over 6000. But they're starting to define a bottom ahead of the major index.

Shanghai made a bit of a stand last night to close in positive territory after dipping below the 3000 mark intraday(night).


SNP sports a P/E below 11, and @ $100/share is 45% below its 52-week high over $178.


The chart for PTR looks the same, as shares have retreated 48% since October.
PTR is now trading at a P/E under 12.


Much has been made about P/E ratios on the exchange, but when China's GDP growth rate is factored into calculations, the Shanghai Composite is valued equitably relative to the exchanges of other countries. This chart is from November.