601857.SS - PetroChina Company Limited

Shanghai - Shanghai Delayed Price. Currency in CNY
5.19
-0.09 (-1.70%)
At close: 3:00PM CST
Stock chart is not supported by your current browser
Previous Close5.28
Open5.20
Bid5.19 x 0
Ask5.20 x 0
Day's Range5.15 - 5.22
52 Week Range5.07 - 8.02
Volume150,412,876
Avg. Volume65,981,872
Market Cap902.598B
Beta (5Y Monthly)1.33
PE Ratio (TTM)23.07
EPS (TTM)0.22
Earnings DateMar 27, 2020
Forward Dividend & Yield0.14 (2.61%)
Ex-Dividend DateSep 24, 2019
1y Target Est7.93
  • Reuters

    China Resources Gas to start off-season prices 2-months earlier to cushion virus hit

    China Resources Gas Group , the country's biggest city gas distributor, will bring forward the implementation of off-season natural gas prices by two months to February, following a rare instruction from Beijing to support the virus-hit economy. China's state planner for the first time urged natural gas suppliers and distributors to implement off-season prices earlier for industrial and commercial users, to help mitigate companies' losses from the coronavirus outbreak. Off-season natural gas prices are typically implemented from mid-March or early April until mid-November in China.

  • Bloomberg

    R.I.P. HNA, and the $143 Billion Empire You Built

    (Bloomberg Opinion) -- The house of HNA Group Co. may be no more, bringing an end to the dramatic rise and fall of one of the biggest buyers of global assets in recent years. It was about time.The Chinese government is planning to take over the airline-to-insurance-to-property conglomerate that splashed out over $40 billion in recent years to buy assets including stakes in Hilton Worldwide Holdings Inc. and Deutsche Bank AG and airplane lessor Avolon Holdings Ltd., Bloomberg News reported citing people familiar with the plans. A government seizure would mark the final step in an unwinding of the closely held and debt-encumbered behemoth that began more than two years ago.  In theory, Beijing was already running the show behind the scenes. In early 2018, as Anbang Insurance Group Co. (another binge-buyer that scooped up assets like New York’s Waldorf Astoria Hotel) was being taken over by the Chinese government, HNA was extended over $3 billion of credit lines by large state-owned lenders to keep going. Since then, on Beijing’s directive, it has sold off assets and attempted to retreat to its core airline-related business. Despite state support, HNA has still been late to make payments on bonds and unable to effectively run the sprawling businesses it bought.An official takeover would mean ownership changes at its foreign affiliates and subsidiaries. Would Ingram Micro Inc., the Irvine, California-based electronics distributor HNA bought in 2016, effectively become a Chinese state-owned enterprise? And if it did, would the company then have to go back to the Committee on Foreign Investments in the U.S. for approval?Under its existing agreement with CFIUS, Ingram Micro is required to operate as a standalone company, and is subject to annual audits of its compliance with certain operating and security agreements, according to Moody’s Investors Service. The company’s board composition is governed by an agreement with CFIUS and the U.S. Defense Department. Another subsidiary, Swissport Group Sarl, a ground handler, serves over 300 airports and millions of metric tons of cargo through over 100 warehouses globally. HNA representatives comprise a majority of the board. If the government officially takes control of HNA, those relationships will get more complicated. Just this week, the U.S. State Department designated five Chinese state-owned media outlets as foreign missions, increasing their reporting requirements around property and personnel. Waltzing onto foreign boards or owning overseas real estate isn’t as easy for Chinese entities as it once was.It also makes sense that Beijing would act now, in the teeth of the coronavirus epidemic.There’s no doubt that with the outbreak all but halting the real economy, hard-up borrowers are coming to the fore. Analysts had long seen HNA’s indebtedness as a significant risk to the financial system. To fund the borrowing spree that fueled its risk, the company spun a complex web of debt between subsidiaries and affiliates, using its units as collateral at times to take on yet more debt.Now, Beijing is  opening the spigots and relaxing bad loan limits to encourage banks to lend more freely and keep the economy ticking over. In this emergency environment, the ongoing risk of a collapse in HNA’s enormous net debt pile — worth $69 billion at the end of June, bigger than the borrowings of PetroChina Co. or Walmart Inc. — isn’t helping. You’re less likely to extend credit to a struggling business if you think your existing loan book might turn bad.It’s never easy to undo the excess of an M&A binge, and HNA’s large and labyrinthine balance sheet has meant even its wave of selloffs has barely moved the needle. While total assets have fallen by about $46.53 billion, to $142.8 billion, since their peak at the end of 2017, net debt is actually marginally up, making it increasingly difficult for HNA to service its borrowings. Affiliates and subsidiaries like Ingram Micro and Swissport have already distanced themselves, placing clauses in debt agreements that protect their cash flows. Throughout HNA's history, operating income has only occasionally run ahead of interest payments.To the extent that management has been able to keep these plates spinning at all, it's likely to have depended heavily in recent months on the way that HNA's investments in logistics, air transport, catering and retail have given it a presence throughout the sinews of China's economy, and the world’s. The coronavirus represents a critical blow to that proposition. China's aviation market has shrunk from the world's third-biggest to 25th place because of the infection. Hotels and shopping malls are empty. Cash is barely flowing.Two years on, Beijing is still trying to shed the assets of Anbang, now renamed Dajia Insurance. Officially unwinding the House of HNA will prove a much hairier task. But China may have no other options left.To contact the authors of this story: Anjani Trivedi at atrivedi39@bloomberg.netDavid Fickling at dfickling@bloomberg.netTo contact the editor responsible for this story: Rachel Rosenthal at rrosenthal21@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Anjani Trivedi is a Bloomberg Opinion columnist covering industrial companies in Asia. She previously worked for the Wall Street Journal. David Fickling is a Bloomberg Opinion columnist covering commodities, as well as industrial and consumer companies. He has been a reporter for Bloomberg News, Dow Jones, the Wall Street Journal, the Financial Times and the Guardian.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Oilprice.com

    Oil Suppliers Slash Prices To Save Asian Market Share

    As Asian refineries are reducing their crude intake, oil suppliers such as Angola, Brazil and Russia are slashing the prices of their most popular blends

  • Oilprice.com

    Asia’s Demand For Middle East Oil Plunges On Coronavirus Outbreak

    The spot market for Middle East crude cargoes loading in April was virtually non-existent this week, as demand continues to be depressed due to the coronavirus outbreak

  • Sarah Ketterer Drills Deeper Into Oil Company Ovintiv
    GuruFocus.com

    Sarah Ketterer Drills Deeper Into Oil Company Ovintiv

    Company recently changed its name amid reorganization Continue reading...

  • Expat Chinese Workers Scouring Foreign Pharmacies for Masks
    Bloomberg

    Expat Chinese Workers Scouring Foreign Pharmacies for Masks

    (Bloomberg) -- Sign up for Next China, a weekly email on where the nation stands now and where it's going next.China’s state-controlled oil explorer PetroChina Co. has directed employees in 20 countries to buy face masks and send them home to help combat the lethal coronavirus.Employees from Rio to Houston to Lagos are rushing to pharmacies and home-improvement stores Home Depot Inc. and Lowe’s Cos. in search of masks. One employee was able to secure the last lot of masks at a Home Depot in Texas and shipped it back to China by express mail.It might sound strange that one of the world’s biggest oil companies would urge employees to get involved in the effort, rather than assigning the task to its purchasing department. But the request came as no surprise to Chinese nationals. PetroChina’s status as a government-owned entity means all workers are employees of the state and, as such, are expected to play an active role in the process, one person said.The goal is to get 2 million masks shipped back to headquarters. the person said. Petrochina didn’t immediately return email seeking comment.PetroChina, the oil titan with a market value larger than western majors like BP Plc and ConocoPhillips, is just one of many corporations with foreign operations that the Chinese government has deployed to gather medical supplies and send them home.CounterfeitersThe brisk demand for masks is spurring counterfeiters to flood the market with bogus respiratory devices, according to the U.S. Centers for Disease Control. A single N95 mask -- the grade commonly employed by hospital workers and civilians -- usually must be replaced every eight hours, the CDC said.Home Depot has experienced a nationwide increase in demand for masks, including some stores selling out, spokeswoman Sara Gorman said. To avoid a run on the products through bulk purchases, the retail giant has limited the number of masks that each customer can buy to 10, she said.Several Home Depots in the Houston area reported running out of masks by noon every day.Meanwhile, alcohol and ethanol makers including Tsingtao Brewery Co. are shifting to produce disinfectant to help ease a shortage in medical grade alcohol, with an industry association urging others to follow suit.Rising TollMore than 31,000 people have been infected with coronavirus in China as of Thursday, and more than 600 have died. The run on face masks and medical supplies has stretched beyond China’s borders.From airlines that have halted travel to China to Saudi Arabia blocking expatriates that travel to the country from returning home, the growing health crisis has pushed governments and businesses around the world to adopt unprecedented measures to stem the spread of the virus. Nowhere is the problem more acute than in China, with Hubei province still in lockdown as deaths continue to rise.PetroChina sent instructions in the form of a memo to offices globally, including Tokyo, Houston and Singapore, according to a copy of the memo seen by Bloomberg News. Chinese steel companies also have been buying masks and other gear abroad, including from Japan, Germany and Italy, according to the nation’s iron and steel association.(Adds detail on mask procurement beginning in second paragraph)\--With assistance from Jinshan Hong, Krystal Chia, Tian Ying, Alfred Cang, Jackie Davalos, Matt Townsend and Niu Shuping.To contact the reporters on this story: Lucia Kassai in Houston at lkassai@bloomberg.net;Stephen Stapczynski in Singapore at sstapczynsk1@bloomberg.netTo contact the editors responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net, ;David Marino at dmarino4@bloomberg.net, Joe Carroll, Mike JeffersFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Virus Jolts China Economy, Forcing Rethink on Almost Everything
    Bloomberg

    Virus Jolts China Economy, Forcing Rethink on Almost Everything

    (Bloomberg) -- Sign up for Next China, a weekly email on where the nation stands now and where it's going next.China is preparing steps to adjust to a slower rate of economic growth as the coronavirus outbreak shows few signs of abating.Officials are evaluating whether to soften the economic-growth target for 2020, while state-owned liquefied natural gas importers are considering declaring themselves unable to fulfill some obligations on cargo deliveries -- known as force majeure -- according to people familiar with the matter. And authorities in Beijing are hoping the U.S. will agree to some flexibility on pledges in their phase-one trade deal, people close to the situation said.Two-thirds of the Chinese economy will remain closed this week as several provinces took the extraordinary step of extending the Lunar New Year holiday to help curb the spread of the disease that’s claimed 425 lives, with 20,438 confirmed cases, mostly in Hubei.Below is a wrap of the considerations:Potential GDP ReductionThe annual growth target is typically unveiled in March at the country’s legislative session after being endorsed by top leaders at the yearly closed-door Central Economic Work Conference in December. Economists had expected China would aim for output growth of “around 6%” this year after seeking a range of 6% to 6.5% in 2019. Bloomberg Economics reckons growth could dip to 4.5% in the current quarter.Officials are also considering further measures to shore up the economy, including selling more special government bonds, said the people, who asked not to be identified discussing the private talks. They also could increase the planned cap on the ratio of the budget deficit to gross domestic product, they said.This year’s legislative gathering, which is scheduled to begin March 5, could be delayed as the epidemic disrupts work across the country.China’s State Council Information Office didn’t immediately respond to a request for comment. Any changes to the growth target would have to be approved by top leaders of the Communist Party.Party MeetingChinese President Xi Jinping called on all officials to quickly work together to contain the virus at a rare meeting of top leaders, saying the outcome would directly impact social stability in the country.The effort to contain the virus directly affects people’s health, China’s economic and social stability, and the country’s process of opening up, he told a meeting of the Communist Party’s powerful Politburo Standing Committee on Monday. Leaders also urged officials “to achieve the targets of economic and social development this year” and “promote stable consumer spending.”It was the second meeting of China’s senior-most leaders to handle the crisis in recent days, a rare occurrence over the past few decades.LNG DeliberationsOil consumption in China, the world’s the top crude importer and second-biggest LNG buyer, is already estimated to have dropped by 20%, which is expected to cause fuel makers to cut back production and seek to delay some oil shipments. A decline in gas demand is similarly forcing buyers to consider postponing deliveries to cope with high inventories.LNG importers including China National Offshore Oil Corp. are still assessing the impact on consumption and haven’t decided yet whether to make the declarations, said the people, who asked not to be identified as the information isn’t public. Firms declare force majeure when they’re unable to meet contractual obligations for reason beyond their control.CNOOC and PetroChina Co. have begun drafting the necessary documents to issue the declarations, in case they decide to move ahead, said the people. Sinopec Corp. is also considering force majeure.PetroChina and Sinopec declined to comment. Nobody answered multiple calls to CNOOC.U.S. TradeThe U.S. and China on Jan. 15 sealed the first phase of a trade agreement that’s supposed to take effect in mid-February. It has a clause that states the nations will consult “in the event that a natural disaster or other unforeseeable event” delays either from complying with the accord. It’s unclear whether China has formally requested such a consultation yet, but the people familiar with the matter said the plan is to ask for it at some point.A spokesman for U.S. Trade Representative Robert Lighthizer said Washington hadn’t received any request from China to discuss changes in Beijing’s purchase commitments. The Chinese Commerce Ministry didn’t immediately respond to a request for comment.In the first year of the deal, China committed to buy an extra $76.7 billion of American goods beyond what it did in 2017, and an additional $123.3 billion in the second year. Purchases of agricultural products are particularly important for the livelihoods of American farmers who’ve been hurt in an escalating tariff war with China over the past two years and are a key base of support for President Donald Trump.Read the latest on impact of the coronavirus from Bloomberg EconomicsEven before the outbreak, China’s economy was already slowing amid weak domestic demand, a crackdown on debt and the trade war with the Trump administration. GDP expanded 6.1% last year, the least in almost three decades, and just within the range targeted by President Xi Jinping’s administration.In a containment scenario -- with a severe but short-lived impact -- the virus could take China’s first-quarter gross domestic product growth down to 4.5% year on year, according to Bloomberg Economics. That’s a drop from 6% in the final period of 2019 and the lowest since quarterly data that begins in 1992.Most of China’s provinces said before the virus became widespread they’re expecting slower economic growth in 2020, with at least 22 out of 31 major cities, provinces and autonomous regions cutting their targets as of Jan. 21, according to their work reports which lay out plans for this year.China’s central bank took its first concrete steps to cushion the economy and plunging markets from the blow of the virus, providing short-term funding to banks and cutting the interest rate it charges for the money.The People’s Bank of China added a net 150 billion yuan ($21.4 billion) of funds on Monday using 7-day and 14-day reverse repurchase agreements. The rate for both was cut by 10 basis points, driving down the cost of the money to “ensure ample liquidity during the special period of virus control,” it said in a statement. PBOC adviser Ma Jun indicated he expects further rate cuts later in the month.The cash injection was part of a raft of supportive measures announced over the weekend to soften a market sell-off and help firms affected by the disease outbreak and extended holiday.(Updates number of cases in third paragraph, party meeting from eighth.)\--With assistance from Stephen Stapczynski, Alfred Cang, Niu Shuping, Steven Yang, Jenny Leonard and Shawn Donnan.To contact Bloomberg News staff for this story: Steven Yang in Beijing at kyang74@bloomberg.net;Zheng Li in Shanghai at zli698@bloomberg.netTo contact the editors responsible for this story: John Liu at jliu42@bloomberg.net, ;Brendan Murray at brmurray@bloomberg.net, Malcolm ScottFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Commodities Hammered in China by Virus-Driven Demand Fears
    Bloomberg

    Commodities Hammered in China by Virus-Driven Demand Fears

    (Bloomberg) -- Chinese commodity prices collapsed on the first day of trading after the Lunar New Year break as investors returned to markets gripped by fear over the impact the coronavirus will have on demand in the world’s biggest consumer of raw materials.The country’s three major commodity exchanges were hit by a fevered bout of selling as they reopened with Chinese traders getting their first opportunity to catch up with losses inflicted on overseas markets while they had been on holiday.Metals, energy and agriculture futures were all hammered, with iron ore, crude, copper and palm oil contracts all sinking by their daily allowable limit within seconds of markets opening. Shares in commodity also producers tumbled as stock markets resumed trading.Investors have deserted raw materials around the world from copper in London to palm oil in Kuala Lumpur over fears about the economic fallout from the virus. More than a dozen Chinese provinces have announced an extension of the new year holiday by more than a week in a bid to halt the spread of the virus that has killed hundreds of people and sickened thousands.“Investors are fleeing from commodities and seeking risk-aversion assets,” said Chen Tong, an analyst with Tianjin-based First Futures. “Everything from consumption to logistics has stagnated with 30 Chinese provinces and regions announcing the highest level of public health emergency and so the market is basically bearish across the board.”By the 3 p.m. close of trading, iron ore was 6.6% lower at 606.50 yuan a ton, the weakest since November. Steel reinforcement bar closed down 7.6% after opening at its downside limit. Domestic oil futures saw the biggest decline since their debut in March 2018 while copper dropped 6.2% and palm oil by 6.9%. Markets won’t reopen until Tuesday morning after China canceled overnight trading.The sell-off on commodities exchanges was repeated across China’s financial markets, with stocks plummeting by the most since an equity bubble burst in 2015. Bond yields dropped the most since 2014 and the onshore yuan weakened below the key 7-per-dollar level.The mainland-traded shares of Chinese companies that mine, refine and smelt the nation’s raw materials weren’t spared the rout. Jiangxi Copper Co., the biggest copper smelter, tumbled by its daily limit of 10% in Shanghai, while Baoshan Iron & Steel tumbled 9.9%. PetroChina Co., its biggest energy company, lost 9%.Authorities have pledged to provide abundant liquidity and urged investors to evaluate the impact of the coronavirus objectively. The central bank on Monday reduced rates as it injected cash into the financial system.Investors are nonetheless spooked about the impact of the virus on growth as swathes of the country are locked down. Bloomberg Economics estimated growth could slump to 4.5%, the lowest in quarterly data going back to 1992.For raw materials, regions accounting for about 90% of copper smelting, 60% of steel production, 65% of oil refining and 40% of coal output have told firms to delay restarting operations until at least Feb. 10.Fears over the effect that’s going to have on demand and supply balances had hammered global prices while Chinese markets were shut. Brent crude tumbled about 6% and Singapore’s iron ore contract lost almost 11% during the new year holiday, while copper on the London Metal Exchange capped its worst month since 2015. Malaysian palm oil last week fell the most since 2008.Traders are looking for any signs of how the virus will impact demand and the flow of commodities in to and out of the country. Chinese oil demand has already dropped by about three million barrels a day, or 20% of total consumption, as the coronavirus squeezes the economy, according to people with inside knowledge of the country’s energy industry.The drop is probably the largest demand shock the oil market has suffered since the global financial crisis of 2008 to 2009, and the most sudden since the Sept. 11 attacks. China is the world’s largest oil importer, so any change in consumption has an outsize impact on the global energy market.China is also the biggest producer of refined copper and steel, and imports two-thirds of the world’s seaborne iron ore. Its share of global base metals demand exceeded 50% in the first 10 months of last year, from less than 20% during the SARS crisis, Bloomberg Intelligence estimates.While Chinese metals markets tanked on Monday, some contracts on the London Metal Exchange rebounded, with copper rising for the first time in 14 days.And losses weren’t universal across China’s commodity markets. Bullion on the Shanghai Gold Exchange advanced 2.5%, while thermal coal escaped the massive sell-off as traders weighed extended mine shutdowns due to the virus outbreak.\--With assistance from Krystal Chia, Winnie Zhu and Andrew Janes.To contact Bloomberg News staff for this story: Sarah Chen in Beijing at schen514@bloomberg.net;Alfred Cang in Singapore at acang@bloomberg.netTo contact the editors responsible for this story: Will Kennedy at wkennedy3@bloomberg.net, Anna Kitanaka, Alexander KwiatkowskiFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • China Opens Up to Oil Majors at the Wrong Time
    Bloomberg

    China Opens Up to Oil Majors at the Wrong Time

    (Bloomberg Opinion) -- Broad new horizons in key markets are opening for the world’s energy companies. Don’t expect to see a land rush any time soon. China will allow all large domestic and foreign companies to apply for oil and gas exploration licenses that were previously only open to state-owned enterprises, the country’s resources ministry said at a briefing Thursday. In India, regulators will also let private and international companies bid for a group of coal blocks it’s putting up for auction starting this month, the country’s coal and mines minister Pralhad Joshi said this week, chipping away at a near-monopoly enjoyed by state-controlled Coal India Ltd.A decade or so ago, such announcements might have caused international energy companies to salivate with excitement. All the fear back then was that state-owned giants like Saudi Arabian Oil Co. and Petroleos de Venezuela SA controlled all the viable assets to fuel a coming era of ever-increasing fossil fuel demand, leaving listed businesses running out of reserves. How things have changed.For one thing, it’s national governments rather than independent companies that are now worried about supply shortages. China’s domestic oil production has fallen about 10% since peaking five years ago. India’s coal output is still edging up, but not fast enough to meet demand: Net imports have accounted for about a quarter of consumption in recent years, up from 10% a decade ago.Meanwhile, energy companies are awash with supply. The revolution in fracking means that America’s shale patch would count as one of the world’s top three oil producers if considered on its own. It briefly overtook Saudi Arabia for the number two spot behind Russia after an attack on the Gulf country’s oil facilities in September.Conventional oil and gas discoveries are booming, too, hitting a four-year high of 12.2 billion barrels of oil equivalent last year, according to consultancy Rystad Energy AS. Storied oil majors Exxon Mobil Corp., Total SA, BP Plc and Eni SpA chalked up some of the year’s best discoveries. On the demand side, consumption of petroleum may peak as soon as a decade from now, well within the lifetime of most conventional oilfields.As a result, the interests of fossil fuel producers and the energy-hungry governments seeking to attract them are fundamentally opposed. Beijing and New Delhi ultimately want to boost domestic output at all costs, and hope that foreign businesses can sprinkle some innovative magic that local giants can’t muster. International oil companies, on the other hand, are ruing a decade when they chased barrels to the exclusion of all else. They’re now much more focused on developing only the most profitable fields, wherever they’re to be found.It’s probably unfair to characterize the state-owned Chinese and Indian companies as lazy behemoths, too. PetroChina Co.’s capital spending is bigger than that of Exxon Mobil and BP put together, and about half the wells it drills each year are in the Changqing field, where most new development is in difficult formations similar to those in the U.S. shale patch. Coal India, likewise, is hampered by the fact that most of the country’s coal is high in ash and low in energy, and dependent on a creaky rail network to make it to power stations.The problem, instead, is that the remorseless facts of poor geology make it nearly impossible to develop domestic reserves profitably, especially when government targets are driving state-owned companies to increase output with little regard for cost.Take the Qingcheng field, a corner of the Changqing deposit that counts as PetroChina’s largest single shale find. Even after recent efforts to drive down costs, the internal rate of return for Qingcheng wells is now only 8% to 9%, Cathy Chan, an analyst at CCB International Holdings Ltd., wrote in an October note.It’s fanciful to think this would tempt foreign investors. Such returns barely cover PetroChina’s own cost of capital. In Texas’s Permian basin, comparably low returns were last seen in early 2016, when the local fracking industry was on the brink of collapse. IRRs of 20% to 40% are typical for unconventional petroleum in the U.S. Given the substantial political risks that come from operating in China these days, it’s very hard to see the attraction here for international energy businesses.The best path to energy security for China and India is to encourage their own renewable energy and electrified transport industries — an approach that will improve the health of their populations, reduce climate risks, and leave them far less dependent on imported fuels. That’s a much better idea than wasting money trying to get blood from a stone, or hoping that clever foreigners will be able to find hidden deposits where local talent has failed.To contact the author of this story: David Fickling at dfickling@bloomberg.netTo contact the editor responsible for this story: Rachel Rosenthal at rrosenthal21@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.David Fickling is a Bloomberg Opinion columnist covering commodities, as well as industrial and consumer companies. He has been a reporter for Bloomberg News, Dow Jones, the Wall Street Journal, the Financial Times and the Guardian.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Moody's

    Petrobras Distribuidora S.A. -- Moody's assigns Ba1/Aaa.br first time ratings to Petrobras Distribuidora S.A.; stable outlook

    Moody's America Latina ("Moody's") today assigned a Ba1/Aaa.br Corporate Family Rating to Petrobras Distribuidora S.A. ("BR"). The outlook for the ratings is stable. BR ratings mainly reflect its market position as the largest fuel distributor in Brazil in terms of volumes sold, gas stations network and distribution logistics assets, along with its well-known brand names and adequate credit metrics.

  • This Trio of Low Price-Book Stocks Is Set to Beat the Market
    GuruFocus.com

    This Trio of Low Price-Book Stocks Is Set to Beat the Market

    PetroChina Company Limited tops the list Continue reading...

  • 3 Dividend Stocks to Buy for China Bulls Heading into 2020
    InvestorPlace

    3 Dividend Stocks to Buy for China Bulls Heading into 2020

    Progress on the U.S.-China trade war has boosted Chinese stocks. Alibaba (NYSE:BABA) has broken out to a new all-time high, JD.com (NASDAQ:JD) has returned to mid-2018 levels and the iShares MSCI China ETF (NASDAQ:MCHI) has rallied nicely from August lows. All three are looking like great stocks to buy.For some investors, however, there's a catch: Few Chinese stocks pay a dividend. Income investors looking for stocks to invest in can get exposure to the region through a stock like Apple (NASDAQ:AAPL) or Starbucks (NASDAQ:SBUX). But, for those businesses -- as with many American companies -- China drives only a small portion of revenue and profits.Nonetheless, income investors looking for dividend stocks to buy to capitalize on the Chinese market do have some options. Unsurprisingly, these names do have risk. Yet, they have real rewards, too -- both in terms of dividends and the possibility of further appreciation if renewed optimism toward China persists.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Top-Tier Dividend Stocks for 2020 So, let's take a look at a few Chinese stocks to possibly get your hands on. 3 Dividend Stocks to Buy: Las Vegas Sands (LVS)Source: Andy Borysowski / Shutterstock.com Casino operator Las Vegas Sands (NYSE:LVS) offers potentially the best combination of income and exposure to the Chinese economy. LVS hiked its dividend around 2.6% in 2020 in its third-quarter report, and now yields nearly 4.5% at the current price. That increase was the company's eighth-consecutive annual raise.However, despite its U.S. domicile, Sands's results rely almost solely on Chinese demand at this point. Through the first nine months of 2019, nearly 60% of Adjusted Property EBITDA came from the company's operations in the Chinese enclave of Macau. Nearly another 35% comes from the Marina Bay Sands property in Singapore -- which too attracts Chinese gamblers.As noted before, there are risks. Sands' concession in Macau expires in 2022, and must be renewed. However, the odds of Sands failing to secure an extension are "remote," as credit analyst Fitch put it earlier this year. Also, the thawing of the trade war is a big positive on this front; there was the chance that LVS chairman Sheldon Adelson, a prominent supporter of President Donald Trump, could get his company drawn into the proverbial crossfire.But, as Fitch noted, it's also possible that authorities could raise the tax rate or require other adjustments. Any "hard landing" in China could send profits tumbling. And, the dividend payout ratio is nearing 100% -- meaning hikes going forward likely will be minimal.Still, there's a nice bull case here. Income investors should check out Wynn Resorts (NASDAQ:WYNN) as well, which raised its dividend 33% this year and yields 2.9%. PetroChina (PTR)Source: Gil C / Shutterstock.com PetroChina (NYSE:PTR) seems like the forgotten Chinese giant. It has the second-highest market capitalization among U.S.-listed companies based in China, behind only Alibaba. Yet, it receives a fraction of the coverage of other Chinese names.Additionally, there's an attractive combination of exposure to Chinese growth and dividend income. PTR shares are cheap, at barely 13x forward earnings, but -- like LVS -- there are risks.Unlike most U.S. companies, PTR's dividend is inconsistent in terms of its size and is only paid semi-annually. The yield based on 2019 distributions is over 4% and nearing 5%, but that may not be the case in 2020 -- particularly with earnings declining of late. PetroChina needs oil prices to hold up, as well. * 7 Vaping Stocks to Get into Ahead of the Crowd Income investors looking for consistency might look instead to names like BP (NYSE:BP) or Exxon Mobil (NYSE:XOM), the latter of which clearly has seen some support thanks to its dividend. Those looking to add growth or potential upside, however, might considering swapping out those established names for the higher-upside PTR. China Mobile (CHL)Source: testing / Shutterstock.com Shares of China Mobile (NYSE:CHL) already have bounced nearly 10% since hitting an 11-year low this month. They may rally further this week thanks to the so-called "Barron's bounce". That publication called out CHL stock as a cheap, yet dominant play this weekend -- and made a strong case in the process.After all, as Barron's pointed out, China Mobile has 10 times the customers of Verizon Communications (NYSE:VZ) or AT&T (NYSE:T). And, like those U.S. giants, it has a 5G catalyst on the way. Yet, by any measure, it trades at a substantial discount to its American counterparts.With a 4.5%-plus dividend yield, there's a nice income case here as well. And, if CHL stock does rise too sharply this week, investors can also look at smaller rival China Telecom (NYSE:CHA).Obviously, both Chinese telecommunications companies need their domestic economy to cooperate. But, if it does, the gains in both stocks in recent sessions could be the prelude to substantial upside in 2020.As of this writing, Vince Martin has no positions in any securities mentioned. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 2019 Losers That Will Be 2020 Winners * 7 Safe Dividend Stocks for Investors to Buy Right Now * 5 Artificial Intelligence Stocks to Consider The post 3 Dividend Stocks to Buy for China Bulls Heading into 2020 appeared first on InvestorPlace.

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