SNP - China Petroleum & Chemical Corporation

NYSE - NYSE Delayed Price. Currency in USD
47.53
+0.60 (+1.28%)
At close: 4:00PM EDT

47.53 0.00 (0.00%)
After hours: 4:46PM EDT

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Price Crosses Moving Average

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Performance Outlook
  • Short Term
    2W - 6W
  • Mid Term
    6W - 9M
  • Long Term
    9M+
Previous Close46.93
Open47.05
Bid47.41 x 1200
Ask51.00 x 1200
Day's Range46.51 - 47.63
52 Week Range41.31 - 69.63
Volume293,207
Avg. Volume302,553
Market Cap68.476B
Beta (5Y Monthly)1.23
PE Ratio (TTM)5.22
EPS (TTM)9.10
Earnings DateN/A
Forward Dividend & Yield4.37 (9.31%)
Ex-Dividend DateJun 01, 2020
1y Target Est57.85
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
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  • Why Has Sinopec (SNP) Declined 4.5% Since Q1 Earnings?
    Zacks

    Why Has Sinopec (SNP) Declined 4.5% Since Q1 Earnings?

    The coronavirus pandemic had quite a damaging impact on Sinopec's (SNP) Q1 earnings.

  • Sinopec Ranks First in Brand Value in China's Energy and Chemical Industry
    PR Newswire

    Sinopec Ranks First in Brand Value in China's Energy and Chemical Industry

    China Petroleum & Chemical Corporation (HKG: 0386, "Sinopec"), China's leading energy and chemical company, was named the number one brand in China's energy and chemical industry in terms of brand value at China Brand Day 2020, held on May 10.

  • What Does China Petroleum & Chemical Corporation's (HKG:386) P/E Ratio Tell You?
    Simply Wall St.

    What Does China Petroleum & Chemical Corporation's (HKG:386) P/E Ratio Tell You?

    Today, we'll introduce the concept of the P/E ratio for those who are learning about investing. We'll look at China...

  • Moody's

    Australia Pacific LNG Processing Pty Ltd -- Moody's changes outlook on APLNG Processing to negative, affirms Baa2 senior secured ratings

    Moody's Investors Service has today revised the outlook on Australia Pacific LNG Processing Pty Ltd's (APLNG Processing) senior secured ratings to negative from stable. At the same time, Moody's has affirmed APLNG Processing's senior secured Baa2 ratings.

  • 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 debt 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 with all of Sinopec Group's other senior unsecured obligations.

  • Moody's

    Origin Energy Finance Limited -- Moody's affirms Origin Energy' Baa2/P-2 ratings; outlook remains stable

    Moody's Investors Service has today affirmed Origin Energy Limited's Baa2 long term issuer and senior unsecured debt ratings, and its P-2 short-term issuer rating. Moody's has also affirmed Origin Energy Finance Limited's Baa2 backed senior unsecured rating and its (P)Baa2 backed senior unsecured MTN program rating.

  • Sinopec's Operating Income for 2020 Q1 was RMB 555.502 Billion
    PR Newswire

    Sinopec's Operating Income for 2020 Q1 was RMB 555.502 Billion

    China Petroleum & Chemical Corporation ("Sinopec Corp." or the "Company") (HKEX: 00386; SSE: 600028; NYSE: SNP) today announced its unaudited first quarterly results for the three months ended 31 March 2020.

  • Reuters

    Australia's Origin Energy posts 18% fall in quarterly APLNG revenue

    Electricity and gas retailer Origin Energy Ltd said on Thursday revenue from its stake in the Australia Pacific LNG (APLNG) joint venture fell 17.7% in the third quarter, hurt by lower contracted LNG sales. Origin, which controls a third of Australia's energy retailing market, said its share of APLNG revenue came in at A$628.5 million for the quarter ended March 31, down from A$763.9 million a year earlier. The figure was slightly below a RBC Capital Markets estimate of A$692 million.

  • PR Newswire

    British Vlogger Stuart Releases Viral Video of Sinopec Yanshan Factory that Draws Million Views in Hours

    A close-up video of production lines in Sinopec ("Sinopec", HKG: 0386) Yanshan Factory was recorded and released on the social account of Stuart, a British vlogger who lived in China, to showcase how disposable facial masks and KN95 masks are made from polypropylene grain into masks with vacuum-sealed packages.

  • China Petroleum & Chemical Corporation Files 2019 Annual Report on Form 20-F
    PR Newswire

    China Petroleum & Chemical Corporation Files 2019 Annual Report on Form 20-F

    China Petroleum & Chemical Corporation ("Sinopec Corp." or "the Company") (HKEX: 00386; SSE: 600028; NYSE: SNP) announced that it has filed its 2019 Annual Report on Form 20-F with the United States Securities and Exchange Commission ("SEC").

  • Reuters

    U.S. LNG cargoes heading to China after Beijing awards tax waivers

    Tankers carrying U.S. liquefied natural gas (LNG) are on their way to China after Beijing started granting tax waivers to some importers, according to shipping and trade sources. This is the first time since March 2019 that shipments have resumed after a long-standing trade war that saw China raise tariffs on LNG imports from the United States to 25% last year.

  • The U.S. Is Short on Workers Who Can Sew
    Bloomberg

    The U.S. Is Short on Workers Who Can Sew

    (Bloomberg Opinion) -- Venerable apparel retailer Brooks Brothers says it is “in the process of converting its New York, North Carolina and Massachusetts factories from manufacturing ties, shirts and suits to now making masks and gowns.” Michigan-based workwear maker Carhartt is shifting over to mask and gown production, too. In Houston, Gourmet Table Skirts & Linens, which normally sells to hotels and cruise ships, has gone all-in on surgical masks.These are encouraging signs for a country that remains way short on the personal protective equipment needed by health-care workers treating patients with Covid-19 — and eventually by the rest of us to help keep the disease from continuing its spread. But you’re not going to see a lot more announcements like these by U.S. apparel manufacturers, because there aren’t a lot more U.S. apparel manufacturers. Employment in the industry was actually up slightly in March — unlike employment in just about every other industry — but it has fallen 89% since 1990. In textile manufacturing, it’s down 79%.Manufacturing employment overall is down over that stretch too, of course, but by a much smaller 28%. And real value added by manufacturing (its contribution to gross domestic product, basically) is up 52% since 1997, when that data series begins, so part of the story is that productivity gains have allowed U.S. manufacturers to make more with fewer workers. For apparel, though, real value added is down 65% since 1997 and for textiles it’s down 39%, and while the latter has seen production rebound a bit over the course of the current expansion, apparel has not.Apparel making for the U.S. market basically moved overseas, with a quick look through my closet revealing “made in” labels from China, Honduras, Indonesia, Madagascar, Malaysia and Mauritius. It had not been what you’d call a high-value industry, and the pay for workers certainly wasn’t great. U.S. consumers seem to have gained from the shift, with clothing and footwear’s share of consumer spending falling from 5.2% in 1990 to 2.7% last year. Still, it left a lot of jobs to replace and has left the country short-handed at a time when the ability to sew things is suddenly and unexpectedly of great value.To be sure, most of the protective respirators and the surgical masks in use today are not the product of traditional textile manufacturing or cut-and-sew production. They are generally made of spun or blown plastics — Chinese oil and petrochemicals company Sinopec has a peppy video about the factory it built over 12 days in February and early March that can produce 1.2 million N95 respirators or 6 million surgical masks a day. The U.S. still has a huge petrochemicals industry, and the biggest company in it, Exxon Mobil, announced Thursday that it is working with the Global Center for Medical Innovation in Atlanta “to rapidly redesign and manufacture reusable personal protection equipment for health care workers.” That’s good news. But in the meantime, it’s nice that Brooks Brothers, Carhartt and Gourmet Table Skirts & Linens are still around to fill in some of the gaps.This column does not necessarily reflect the opinion of Bloomberg LP and its owners.Justin Fox is a Bloomberg Opinion columnist covering business. He was the editorial director of Harvard Business Review and wrote for Time, Fortune and American Banker. He is the author of “The Myth of the Rational Market.”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.

  • Sinopec's Q4 Earnings Surge, Natural Gas Production Expands
    Zacks

    Sinopec's Q4 Earnings Surge, Natural Gas Production Expands

    Sinopec (SNP) plans to accelerate its low-sulfur bunker fuel projects to seize a sizable market share in compliance with the IMO-2020 rule.

  • PR Newswire

    Sinopec Records Net Profit RMB 57.5 Billion in 2019

    China Petroleum & Chemical Corporation ("Sinopec Corp." or the "Company") (HKEX: 386; SSE: 600028; NYSE: SNP) today announced its annual results for the twelve months ended 31 December 2019.

  • Even China’s Big Oil Is Cutting Back
    Bloomberg

    Even China’s Big Oil Is Cutting Back

    (Bloomberg Opinion) -- Under the watchful eye of Beijing’s energy hawks, China’s oil and gas majors have splurged for more than a decade, first on deals abroad and then drilling at home. Yet with crude prices at less than half where they were at the start of the year and demand battered by a coronavirus epidemic, they’re preparing to cut back.Cnooc Ltd. signaled Wednesday it might reduce its 2020 capital expenditure budget, which was set at as much as $13 billion, the highest since 2014. PetroChina Ltd., the country’s largest oil producer with a market value of $117 billion, suggested Thursday that it would do the same. Given the delicate politics involved, it’s a welcome hint of rational frugality.Energy security has always been a top concern for China’s leadership. Overseas deals peaked at $28 billion in 2012, the year Cnooc bid for Canada’s Nexen. Local production growth has been less exuberant, and China has been importing ever more. As trade tensions with Washington rose in 2018, President Xi Jinping urged the country’s state-owned titans to drill. That set off a frenzy from deepwater fields in the South China Sea to shale gas in Sichuan, where China Petroleum & Chemical Corp., known as Sinopec, has led. Performing national service is fine when oil is at $60 a barrel, even if the improvements are unimpressive compared to the capital spent. It’s a different matter when West Texas Intermediate is just coming off an 18-year low of less than $20. That’s a price at which no one can make money — not even Cnooc, with an all-in production cost of less than $30 per barrel of oil equivalent. Cnooc’s adventures in U.S. onshore and Canadian oil sands look terrible; its buccaneering domestic ventures are little better.Overseas, oil majors from Chevron Corp. to Saudi Aramco are cutting spending to preserve capital. Dividends are precarious. Logic dictates that China’s producers, even with healthier balance sheets, will follow the same pattern. The question is whether they can put financial logic ahead of political necessity. So far, the message is cautious: Cnooc executives pointed out that 2020 spending targets were drawn up when oil was at $65, so adjustments would be made. It gave no specifics. PetroChina, meanwhile, didn’t disclose precise targets for the year. That’s no accident, given a volatile market. After a string of personnel changes, there are new bosses across the industry. Political priorities haven’t been set in stone, given the delay in the annual National People’s Congress meeting. Still, the official message has been clear: Life is returning to normal after a devastating shutdown. Announcing a drastic spending cut, or anything that might hint at job losses or a weak economy, simply isn’t on the cards. PetroChina employed 476,000 at the end of 2018.That doesn’t mean that there won’t be mild cuts followed by steeper ones later in the year, a pattern seen before.How steep? Unlike during the last price crunch, in 2014 and 2015, the forward curve suggests prices will remain low, with little prospect for a quick solution to the Russia-Saudi spat that has worsened a global supply glut. Demand, meanwhile, is in the doldrums. China’s economy, and therefore its own appetite for oil and gas, is recovering only slowly, and the rest of the world is ailing as more lockdowns, factory closures and travel restrictions are imposed to limit the spread of the coronavirus. Analysts at UBS Group AG forecast Cnooc’s capex could come down 25% over the next two years, a cut that could be far deeper if oil averages closer to $30 this year. Overall, they project Chinese state-owned oil producers could cut spending by over a third, dragging production down 8% to 9%. Exploration budgets may be trimmed, though domestic production — where job preservation remains key — will mostly be spared. That leaves refining and other downstream activities, plus projects abroad, to bear the brunt. Low energy prices aren’t all bad for China, which imports more than 70% of the crude it consumes. Even liberalization of the domestic gas market becomes easier when prices are low enough for consumers to cope with change, Michal Meidan of the Oxford Institute for Energy Studies points out. Cheaper oil could eventually stimulate demand. For now, a little less drilling all round. This column does not necessarily reflect the opinion of Bloomberg LP and its owners.Clara Ferreira Marques is a Bloomberg Opinion columnist covering commodities and environmental, social and governance issues. Previously, she was an associate editor for Reuters Breakingviews, and editor and correspondent for Reuters in Singapore, India, the U.K., Italy and Russia.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.

  • Sinopec Joins Global Fight Against COVID-19, Shipping Over 10,000 Tonnes of Disinfectant
    PR Newswire

    Sinopec Joins Global Fight Against COVID-19, Shipping Over 10,000 Tonnes of Disinfectant

    As the world battles the COVID-19 pandemic, Sinopec Corp (HKG: 0386), China's leading energy and chemical company, has shown support and solidarity to the international community by supplying 10,256 tonnes of much-needed bleaching powder to countries grappling with an outbreak. To date, Sinopec Jianghan Salt & Chemical Complex has shipped bleaching powder to more than ten affected countries, including Italy, France, Thailand, Australia, New Zealand and Vietnam.

  • Bloomberg

    U.S. Factories Helped Win World War II. They Can Do It Again.

    (Bloomberg Opinion) -- When you’re in a critical fight, you need to use all the weapons at your disposal. And so, it’s time once again for America to marshal its great arsenal of democracy. Just as Detroit automakers became aircraft, tank and gun manufacturers during World War II, today’s industrial companies need to repurpose their factories for the tools needed to fight the current enemy: the coronavirus.Countries across the globe sealed their borders over the weekend and relegated citizens to the confines of their homes in an effort to slow the spread of the deadly virus before it overwhelms the Western World’s health-care systems. The president of Massachusetts General Hospital called on Sunday for the federal government to go into a “war-like stance” and launch a “Manhattan Project” to accelerate production of protective gear. No such plan has been announced by the Trump administration, but U.S. industrial companies should heed the call anyway. Because as far as wars go, this is one for which the country is woefully unprepared.The U.S. has fewer than 170,000 ventilators available for patient care, including estimates for those in the national stockpile, according to a report last month from the Center for Health Security at Johns Hopkins Bloomberg School of Public Health. (The school is supported by Michael Bloomberg, founder and majority owner of Bloomberg LP, the parent company of Bloomberg News.) The number of face masks in that strategic reserve was depleted in the swine-flu outbreak of 2009 and as of early March it held only about 12 million N95 respirators and 30 million surgical masks, significantly fewer than the 3.5 billion masks experts estimate the U.S. would need in a severe pandemic, according to the Washington Post. It falls to private manufacturers to step in and fill the void.With airlines parking jets, consumers locked in their homes and companies focusing on managing the disruption, demand for jet engines, HVAC systems and factory equipment is going to shrivel up for the near future. Rather than sit idle, American factories should be redeployed for the products needed to fight the coronavirus, whether that’s face masks, ventilators, other health-care equipment or even toilet paper for that matter. The Trump administration has already leaned heavily on companies such as Laboratory Corp. of America Holdings, Roche Holding AG and Walmart Inc. to improve the availability and access to testing. But White House virus response coordinator Dr. Deborah Birx warned on Sunday that there will be a spike in cases as more people get access to tests. That’s when the real work is going to begin for the nation’s hospitals. It’s in every U.S. company’s interest to make sure they’re as prepared as possible, and manufacturers have a key role to play. Companies such as 3M Co. and Honeywell International Inc. already make masks and personal-protective gear, but they will need help to meet the huge demand.After China declared a “people’s war” on the outbreak in that country, companies including electric automaker BYD Co., petroleum refiner Sinopec and iPhone assembler Foxconn started making masks instead. French luxury-goods maker LVMH announced Sunday it’s converting perfume and cosmetics factories to make hand sanitizer, which it will deliver free of charge to the local authorities and hospital system. In the U.K., Prime Minister Boris Johnson is calling on manufacturers including Dyson, Unipart Group, Honda and Ford to help with that country’s ventilator shortage, according to the Financial Times. American companies need to follow this lead. Apart from the moral and patriotic implications, it’s just good business sense. The faster the world responds to this health crisis, the faster it can get back on its feet.To contact the author of this story: Brooke Sutherland at bsutherland7@bloomberg.netTo contact the editor responsible for this story: Beth Williams at bewilliams@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Brooke Sutherland is a Bloomberg Opinion columnist covering deals and industrial companies. She previously wrote an M&A column for Bloomberg News.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

    China Petroleum and Chemical Corporation -- Moody's announces completion of a periodic review of ratings of China Petroleum and Chemical Corporation

    Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of China Petroleum and Chemical Corporation and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.

  • KB Home, China Petroleum & Chemical, SunPower, Tesco and Mitek Systems highlighted as Zacks Bull and Bear of the Day
    Zacks

    KB Home, China Petroleum & Chemical, SunPower, Tesco and Mitek Systems highlighted as Zacks Bull and Bear of the Day

    KB Home, China Petroleum & Chemical, SunPower, Tesco and Mitek Systems highlighted as Zacks Bull and Bear of the Day

  • Bear of the Day: China Petrol (SNP)
    Zacks

    Bear of the Day: China Petrol (SNP)

    Bear of the Day: China Petrol (SNP)

  • Reuters

    RPT-China's Unipec snaps up over 6 mln bbls of gasoil in Feb - data

    China's Unipec, an arm of Asia's top refiner Sinopec snapped up the lion's share of gasoil cargoes traded in Singapore this month, despite weaker domestic demand amid a coronavirus epidemic, according to trade data and industry sources. Unipec has bought about 6.4 million barrels of gasoil with a sulphur content of 10 parts per million (ppm) during the Platts Market on Close (MoC) process in Singapore this month, or 77.5% of the total volume of 8.3 million barrels traded in February, the data showed. Unipec bought the majority of these cargoes from PetroChina and Trafigura, starting at cash premiums of as high as $1 a barrel to Singapore quotes near the beginning of this month, down to the most recent purchase at a 20-cent premium on Tuesday.

  • The Zacks Analyst Blog Highlights: Johnson & Johnson, Morgan Stanley, Sinopec, American Electric Power and Kinder Morgan
    Zacks

    The Zacks Analyst Blog Highlights: Johnson & Johnson, Morgan Stanley, Sinopec, American Electric Power and Kinder Morgan

    The Zacks Analyst Blog Highlights: Johnson & Johnson, Morgan Stanley, Sinopec, American Electric Power and Kinder Morgan

  • Reuters

    China's Unipec snaps up over 6 mln bbls of gasoil in Feb - data

    China's Unipec, an arm of Asia's top refiner Sinopec snapped up the lion's share of gasoil cargoes traded in Singapore this month, despite weaker domestic demand amid a coronavirus epidemic, according to trade data and industry sources. Unipec has bought about 6.4 million barrels of gasoil with a sulphur content of 10 parts per million (ppm) during the Platts Market on Close (MoC) process in Singapore this month, or 77.5% of the total volume of 8.3 million barrels traded in February, the data showed. Unipec bought the majority of these cargoes from PetroChina and Trafigura, starting at cash premiums of as high as $1 a barrel to Singapore quotes near the beginning of this month, down to the most recent purchase at a 20-cent premium on Tuesday.

  • Reuters

    PetroChina resumes Guangdong refinery construction after extended holiday

    * Asia'a largest oil and gas firm PetroChina resumed construction of its oil refinery and petrochemical project in southern Chinese province of Guangdong, as the number of new coronavirus cases fell for a second straight day. * In an attempt to curb the spread of the virus, China had extended Lunar New Year holidays and asked companies to put workers returning from their hometown into a 14-day quarantine. * The project is scheduled to be fully completed by June 2022, with the launch of an oil refining section by end-2021 and chemical section in March 2022.

  • Reuters

    REFILE-U.S. crude flows to Europe set to rise as virus hits Asia demand

    NEW YORK/MOSCOW, Feb 6 (Reuters) - U.S. crude flows to Europe are set to increase over the coming month as demand from Asia has plummeted due to the coronavirus outbreak, traders and shipbrokers said. Petrochina, Trafigura, Vitol, Lukoil and Exxon Mobil Corp are among those looking to ship cargoes from the U.S. Gulf Coast to Europe, one source said. "The U.S. has to divert barrels away from China and are now dumping everything to Europe," one trader said.