SNP - China Petroleum & Chemical Corporation
| Previous Close | 56.00 |
| Open | 56.28 |
| Bid | 56.18 x 1100 |
| Ask | 56.20 x 1100 |
| Day's Range | 56.06 - 56.45 |
| 52 Week Range | 55.98 - 88.70 |
| Volume | 121,368 |
| Avg. Volume | 184,229 |
| Market Cap | 79.362B |
| Beta (3Y Monthly) | 1.62 |
| PE Ratio (TTM) | 6.17 |
| EPS (TTM) | 9.10 |
| Earnings Date | N/A |
| Forward Dividend & Yield | 5.55 (9.91%) |
| Ex-Dividend Date | 2019-09-06 |
| 1y Target Est | 89.59 |
- Zacks
Sinopec (SNP) Q3 Earnings Miss Estimates, Revenues Fall Y/Y
Lower realized price of crude hurts Sinopec's (SNP) Q3 earnings.
- Zacks
PetroChina (PTR) Q3 Earnings Miss Despite Upstream Strength
Higher oil and gas production and drop in lifting costs helped PetroChina's (PTR) exploration and production unit profit surge 32.9% during the nine months ended Sep 30, 2019.
- Bloomberg
Aramco IPO Will Lean on Saudis and China as Fund Managers Balk
(Bloomberg) -- One week into Saudi Aramco’s mammoth initial public offering and the likely shape of the deal is already emerging. Investors with political or strategic reasons to buy the stock are in, while many international money managers seem ready to pass -- at least until Crown Prince Mohammed bin Salman decides to rein in his valuation ambitions still further.The richest Saudis are being pressed to commit large sums to the IPO. Among those considering sizable purchases are the Olayan family and Prince Alwaleed bin Talal, the billionaire investor who was held for several weeks in Riyadh’s Ritz-Carlton Hotel during the 2017 crackdown on corruption.China, the world’s largest oil importer, may commit as much as $10 billion through sovereign wealth funds and other state-owned enterprises, according to people familiar with the situation. An investment would be a hedge against rising oil prices and chime with the objectives of Beijing’s ambitious Belt and Road program.But fund managers remain skeptical even after the Saudi government dropped their target valuation from $2 trillion to about $1.7 trillion.There’s a lot at stake for Prince Mohammed, Saudi Arabia’s de facto ruler, and his Vision 2030 plan to overhaul the Saudi economy. He proposed the offering in 2016 as a way to expose the state-owned giant to the rigors of the market and raise money for the sovereign wealth fund.But he quickly boxed himself in by claiming a $2 trillion valuation for the company -- a number based on comparing the kingdom’s enormous oil reserves with those held by large international oil companies like Exxon Mobil Corp. Analysts have consistently challenged his calculation, saying metrics like cash flow and dividend yield are more relevant."MBS will be acutely aware that focusing solely on valuation risks damaging the symbolic value of the IPO," Torbjorn Soltveldt, principal analyst for the Middle East and North Africa at Verisk Maplecroft, said in a note. "Putting pressure on wealthy Saudi nationals to act as cornerstone investors to boost Aramco’s valuation will only reinforce concerns about governance."Fund managers are concerned the Saudi government -- which may sell only about 2% of Aramco -- won’t give enough say to minority shareholders. Regional geopolitical risks, underscored when the company’s facilities were struck by missiles and drones in September, are also weighing on investors’ calculations.“In terms of scale and quality of Aramco’s assets, they’ve got the world’s best, bar none,” said Dwight Anderson, the founder of hedge fund Ospraie Management. “But the decisions that they make are optimized to achieve the country’s objectives, not yours as an individual shareholder.”Aramco will publish an initial version of the IPO’s prospectus on Saturday, giving investors greater details on the company’s structure, finances and strategy. A price range will be set on November 17th, kicking of a formal investor road show.Saudi Arabia is turning to rich local families as it seeks to shore up demand for the record-breaking share sale. As well the Olayans and Alwaleed, Aramco representatives have been seeking an investment from the Almajdouie family, whose businesses range from distributing Hyundai Motor Co. vehicles in the kingdom to a large logistics operation, according to people familiar with the matter.They have also approached members of the Al-Turki clan, who are involved in fields from real estate to general trading, food distribution and ports, the people said, asking not to be identified discussing private conversations.In China, the Beijing-based Silk Road Fund is among parties that have been in discussions to buy stock in the offering, according to people familiar with the matter. State-owned oil producer Sinopec Group and sovereign wealth fund China Investment Corp. have also held talks in recent months about investing.Large commitments from China would help Aramco make the share sale a success after Western money managers pushed back earlier on the company’s valuation.Money managers including AllianceBernstein and Frankfurt-based Union Investment Privatfonds believe the energy giant is worth less than the figure of about $1.7 trillion that the prince is now said to be willing to accept.“If Aramco decides to significantly lower its overambitious valuation expectations and float the company on investor-friendly terms, these will be considered a sign of strength and wisdom rather than weakness,” said Slava Breusov, a senior analyst with the emerging and frontier equities team at AllianceBernstein, which manages almost $600 billion.\--With assistance from Kelly Gilblom and Selcuk Gokoluk.To contact the reporters on this story: Matthew Martin in Dubai at mmartin128@bloomberg.net;Dinesh Nair in London at dnair5@bloomberg.net;Netty Ismail in Dubai at nismail3@bloomberg.netTo contact the editors responsible for this story: Will Kennedy at wkennedy3@bloomberg.net, Christopher SellFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Reuters
China considers up to $10 billion investment in Aramco IPO - Bloomberg
Beijing-based Silk Road Fund, state-owned oil producer Sinopec Corp and sovereign wealth fund China Investment Corp are among parties that have been in discussions to buy stock in the offering, according to the report. Aramco kicked off its IPO on Sunday, announcing its intention to float on its domestic bourse in what could be the world's biggest listing as the kingdom seeks to diversify its economy away from oil. Aramco, Silk Road Fund, Sinopec, China Investment Corp did not immediately respond to requests for comment.
- Reuters
China considers up to $10 billion investment in Aramco IPO: Bloomberg
Beijing-based Silk Road Fund, state-owned oil producer Sinopec Corp and sovereign wealth fund China Investment Corp are among parties that have been in discussions to buy stock in the offering, according to the report. Aramco kicked off its IPO on Sunday, announcing its intention to float on its domestic bourse in what could be the world's biggest listing as the kingdom seeks to diversify its economy away from oil. Aramco, Silk Road Fund, Sinopec, China Investment Corp did not immediately respond to requests for comment.
- Bloomberg
China Considers Up to $10 Billion Stake in Saudi State Oil Giant’s IPO
(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Chinese state-owned entities are in talks about investing a combined $5 billion to $10 billion in Aramco’s initial public offering, as Saudi Arabia seeks commitments from friendly governments to shore up the record share sale, people with knowledge of the matter said.The Beijing-based Silk Road Fund is among parties that have been in discussions to buy stock in the offering, according to the people, who asked not to be identified because the information is private. Some other Chinese funds or state-owned enterprises may also join, the people said.President Xi Jinping has been seeking to increase China’s political clout and revive ancient trading routes under his “One Belt, One Road” initiative. An investment in Aramco would cement ties with Saudi Arabia as well as provide China a way to profit from rising oil prices.State-owned oil producer Sinopec Group and sovereign wealth fund China Investment Corp. have also held talks in recent months about investing in the Aramco IPO, the people said. Commitments haven’t been finalized, and the lineup of investors and the amounts each firm puts in will ultimately depend on the Chinese government, the people said.The Silk Road Fund was set up in 2014 with $40 billion of initial capital. It was later supplemented with another 100 billion yuan ($14 billion) of funds, according to its website.Large commitments from China would help Aramco make the share sale a success after Western money managers pushed back earlier on the company’s valuation. Saudi Crown Prince Mohammed Bin Salman has long insisted the state oil company is worth $2 trillion, although he’s prepared to scale back his expectations to between $1.6 trillion and $1.8 trillion, Bloomberg News has reported.Aramco declined to comment. Representatives for the Silk Road Fund and CIC, as well as Sinopec Group and its main listed unit, didn’t reply to requests for comment. China’s State-owned Assets Supervision and Administration Commission, which oversees the biggest government enterprises, and the finance ministry didn’t respond to faxed queries.The head of Russia’s sovereign wealth fund said last week that Aramco’s IPO is a “unique opportunity.” Russian investors are “keen to participate” in the deal, Chief Executive Officer Kirill Dmitriev said in a Bloomberg Television interview in Riyadh.Partners of the fund, known as the Russian Direct Investment Fund, are considering taking part in the deal, a representative for RDIF said in response to Bloomberg queries. No final decision has been made and investment amounts haven’t been set, according to the representative.(Adds comments from Russian fund in last two paragraphs.)\--With assistance from Alfred Cang and Yuliya Fedorinova.To contact Bloomberg News staff for this story: Dinesh Nair in London at dnair5@bloomberg.net;Steven Yang in Beijing at kyang74@bloomberg.net;Matthew Martin in Dubai at mmartin128@bloomberg.net;Zhang Dingmin in Beijing at dzhang14@bloomberg.netTo contact the editors responsible for this story: Ben Scent at bscent@bloomberg.net, ;Shiyin Chen at schen37@bloomberg.net, ;Katrina Nicholas at knicholas2@bloomberg.net, ;Stefania Bianchi at sbianchi10@bloomberg.net, Adveith NairFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Moody's
Sinopec Group Overseas Development (2018) Ltd -- Moody's assigns A1 to Sinopec's guaranteed notes
Moody's Investors Service has assigned an A1 senior unsecured rating to the USD senior unsecured notes to be issued by Sinopec Group Overseas Development (2018) Limited and guaranteed by its parent, China Petrochemical Corporation (Sinopec Group, A1 stable). Proceeds from the notes will be used to refinance Sinopec Group's existing indebtedness and for general corporate purposes. The A1 rating on the notes reflects the irrevocable and unconditional guarantee from Sinopec Group and the fact that the notes will rank pari passu to all Sinopec Group's senior unsecured obligations.
- PR Newswire
Sinopec Ascends Shanghai Futures Exchange with Registration of "Donghai" Asphalt
SHANGHAI , Oct. 31, 2019 /PRNewswire/ -- Sinopec "Donghai" asphalt obtained approval from the Shanghai Futures Exchange for registration on Oct. 31 , marking the debut of China's biggest asphalt ...
- Reuters
Sinopec's third-quarter profit drops a third on fuel glut, lower oil prices
BEIJING/SINGAPORE (Reuters) - Sinopec Corp, Asia's top refiner, posted a 35% fall in third-quarter net profit versus a year earlier, according to Reuters calculations based on a company filing, dragged down by narrowing refining margins and weaker global oil prices. The decline follows the launch of two privately owned mega-refineries and the expansion of other major refining plants, which added to the fuel surplus in China's refined oil market, slashing profit margins for oil processors. Sinopec reported 11.94 billion yuan ($1.69 billion) net earnings for the July-September period, down just over a third from the same period last year.
- GuruFocus.com
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- PR Newswire
Sinopec Debuts World's Largest Crawler Crane in Saudi Arabia
Co-developed with XCMG, the XGC88000 4,000-ton crawler crane has the highest capacity in its class. JUBAIL INDUSTRIAL CITY, Saudi Arabia , Oct. 24, 2019 /PRNewswire/ -- China Petroleum & Chemical Corporation ...
- Zacks
Sinopec to Slash Refining Operations on Rising Freight Rates
The huge jump in freight rates weakens Sinopec's (SNP) margins from refining operations.
- Insider Monkey
Were Hedge Funds Right About Dumping China Petroleum & Chemical Corp (SNP)?
Investing in small cap stocks has historically been a way to outperform the market, as small cap companies typically grow faster on average than the blue chips. That outperformance comes with a price, however, as there are occasional periods of higher volatility. The last 12 months is one of those periods, as the Russell 2000 […]
- Benzinga
11 Chinese Stock Plays On Trade War Weakness
U.S.-listed Chinese stocks have taken a beating in the past six months, with the iShares FTSE/Xinhua China 25 Index (NYSE: FXI ) down 11.8% overall in that time. Fears over the negative economic impact ...
- InvestorPlace
Friend or Foe? 3 Chinese Large-Cap Stock Charts to Trade
What will today's political games bring tomorrow or the day after? It's far from clear, to say the least. But for Chinese stocks Baidu (NASDAQ:BIDU), New Oriental Education (NYSE:EDU) and JD.com (NASDAQ:JD), the price charts are offering promising entries for investors willing to ignore headline threats in favor of risk-adjusted opportunities. Let me explain.They're pawns in a politically heated game where the rules of engagement are blurry at best. I'm referring to U.S.-listed Chinese stocks. As most investors are aware, the international trade war has negatively impacted the Asian giant's economy over the past couple of years and proven a foe for bullish investors in many of the country's largest companies.Diversified tech giant Alibaba Group (NYSE:BABA) and large-cap energy producer China Petroleum (NYSE:SNP) certainly haven't been immune. Since hitting highs in 2018, those titans of industry are off 20% and 37% respectively. And then there's a difficult 25% drop for the very popular iShares China Large-Cap ETF (NYSEARCA:FXI) market barometer.InvestorPlace - Stock Market News, Stock Advice & Trading TipsNow this political back-and-forth between the U.S. and China has added another layer of uncertainty to Chinese stocks. Over the past couple weeks, the President Donald Trump administration has hinted it's considering a forced delisting of publicly traded stocks domiciled in China. * Are These 10 High-Yielding S&P Dividend Stocks Traps or Treasures? To be clear, there is no clarity on how this politically driven move might play out -- or how it might even be accomplished. And many argue whether it's really in the U.S.' best interests to consider going down this road. Bottom line, though, away from the "will he or won't he" headlines driving volatile day-to-day price action in Chinese stocks, shares of BIDU, EDU and JD stock have caught our eye on the price charts. They are names which are in friendly positions for bulls and bears in the weeks and months ahead. Chinese Stocks: Baidu (BIDU)Known to many as China's answer to Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) due to its search business and broad reach in other technologies (like autonomous vehicles), BIDU stock is the first of our Chinese stocks to buy. Shares of Baidu have had a tough go due to company-specific issues over the last couple years. But many of those difficulties look to be in the rearview mirror after the company released its last earnings report.What's more, the pressure and price action add up to a below-the-market price multiple opportunity in a name still poised for growth.The price chart in BIDU stock also looks supportive for a turnaround in shares. The monthly view has Baidu stock setting up as an undercut variation of the classic double-bottom pattern. Combined with a "modest" failure of the closely watched 62% Fibonacci support, the possibility of a powerful intermediate low is raised in our technical assessment. The BIDU Stock TradeFor this Chinese stock, I'd suggest waiting for monthly chart confirmation of a pattern low. Waiting until a move above $116 looks like a solid buying strategy. That entry narrowly clears the high of the September pivot bottoming candlestick. This purchase also allows BIDU stock to reclaim the 62% level and should help drive additional buying pressure from bears positioned out of a smaller flag pattern.Along with our next two trade candidates, I'd also recommend a bull call spread in BIDU. It's a safer way to gain exposure in shares given today's volatile trading environment for Chinese stocks. New Oriental Education (EDU)New Oriental Education is another company to consider buying. EDU stock is well-known to growth investors and for good reason. Not only does this prep and online educational services outfit sport double-digit growth, after a significant 50%-plus correction in 2018 shares have been a rare bird within the universe of Chinese stocks as EDU continues to challenge fresh all-time-highs.Currently EDU is forming a tight triangle that's entering its third month of consolidation. With the pattern developing on either side of EDU's former highs, there's solid evidence this platform will lead to a breakout and another large rally into 2020. The EDU Stock TradeFor this Chinese stock, look to buy a slightly out-of-the-money intermediate-term bull call spread. But wait to see if EDU shares can stage a breakout above pattern resistance in the coming days or weeks. JD (JD)JD.com has been likened to Amazon (NASDAQ:AMZN) by many investors due to its online retail presence and growing logistics and services businesses. Technically speaking, JD stock is one which could be setting up for either bears or bulls.The monthly chart of this Chinese stock shows two head-and-shoulder patterns. The smaller formation played out well for bears as shares broke neckline support in 2018 and proceeded to tumble by roughly 40% before forming a triple bottom below $20. But the worst may be yet to come. A larger head-and-shoulders formation has developed over the entirety of JD stock's time as a publicly listed company. Ultimately, a breakdown beneath triple-bottom support would confirm a failure of the large pattern's neckline.Alternatively, with JD stock's right shoulder having formed a pivot high against the smaller neckline and 38% retracement level, a failure or upside breakout could be a huge buy signal for shares. A broken pattern can be powerful motivators for new money to come in. Then a bullish phase could begin. The JD Stock TradeWith shares stationed much closer to a pattern failure than confirmation, if JD can clear the August high of $32.28, a buy entry could be close at hand. Still, bears do have the benefit of the developing bearish head-and-shoulders formation. Either way, respecting the price chart to enter and exit and make any long or short positions a more ironclad proposition using JD stock's options market is advised.Investment accounts under Christopher Tyler's management do not currently own positions in securities mentioned in this article. The information offered is based upon Christopher Tyler's observations and strictly intended for educational purposes only; the use of which is the responsibility of the individual. For additional market insights and related musings, follow Chris on Twitter @Options_CAT and StockTwits. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Best ETFs for 2019: The Race Is a Little More Gnarly Now * 7 Next-Generation Healthcare Stocks to Buy * Are These 10 High-Yielding S&P Dividend Stocks Traps or Treasures? The post Friend or Foe? 3 Chinese Large-Cap Stock Charts to Trade appeared first on InvestorPlace.
- Insider Monkey
Here is Hedge Funds’ 27th Most Popular Stock Idea
Hedge funds and other investment firms run by legendary investors like Israel Englander, Jeffrey Talpins and Ray Dalio are entrusted to manage billions of dollars of accredited investors' money because they are without peer in the resources they use to identify the best investments for their chosen investment horizon. Moreover, they are more willing to […]
- Moody's
Trafigura Securitisation Finance PLC -- Moody's: Trafigura Securitisation Finance PLC ratings unaffected by proposed amendment
Moody's Investors Service ("Moody's") announced today that the proposed changes by Trafigura Securitisation Finance PLC will not, in and of itself and at this time, cause the current Moody's ratings of the debt issued by the Issuer to be reduced or withdrawn.
- Zacks
The Zacks Analyst Blog Highlights: Celgene, Sinopec, HSBC, Vertex Pharmaceuticals and Prudential Financial
The Zacks Analyst Blog Highlights: Celgene, Sinopec, HSBC, Vertex Pharmaceuticals and Prudential Financial
