SNP - China Petroleum & Chemical Corporation

NYSE - NYSE Delayed Price. Currency in USD
55.98
+0.25 (+0.45%)
At close: 4:02PM EST
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Previous Close55.73
Open55.74
Bid55.50 x 1100
Ask67.67 x 900
Day's Range55.74 - 56.39
52 Week Range54.94 - 87.17
Volume150,478
Avg. Volume184,412
Market Cap81.472B
Beta (3Y Monthly)1.64
PE Ratio (TTM)6.15
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & Yield5.55 (9.92%)
Ex-Dividend Date2019-09-06
1y Target EstN/A
  • China Sets Up National Pipeline Firm in Major Energy Revamp
    Bloomberg

    China Sets Up National Pipeline Firm in Major Energy Revamp

    (Bloomberg) -- China announced the creation of its long-planned national oil and gas pipeline company, officially kicking off one of its biggest energy revamps aimed at helping supply keep pace with swelling demand.The move marks a “key step” in China’s efforts to deepen reforms of its oil and gas sector, the official Xinhua News Agency said Monday.The government will merge the networks operated by its three state-owned giants under a single company, an important step toward removing barriers that have hampered domestic production, and which dovetails with efforts to use more gas instead of coal. The government will also encourage local oil and gas pipeline firms to integrate with the national company in “market-orientated ways,” Vice Premier Han Zheng said, according to a statement.Click here for a QuickTake Q&A explaining China’s national pipeline planA main development to watch is the valuation of assets, said Neil Beveridge, an analyst at Sanford C. Bernstein & Co. It may take six to nine months for that detail to emerge, based on a similar reform of telecom carriers in 2015 that created China Tower Corp., Beveridge said.The pipeline company’s creation has been considered since at least 2014 and is part of President Xi Jinping’s drive to streamline industrial capacity among state-owned enterprises. The government is seeking to spur wider natural gas distribution and upstream exploration by shifting ownership from competing producers into a single operator, which can make decisions based on overall national energy needs.The reform is also designed to help smaller private or foreign firms, which have found access to infrastructure blocked or prohibitively expensive. With the assets stripped from the hands of the big three state firms, other companies can gain access and move supply to where it’s needed.Sector OverhaulThe plan follows other Chinese reforms aimed at a more level playing field for private and state-owned enterprises. As well, the nation has been accelerating the overhaul of its energy sector in recent years, including changes to its gas pricing policy and merging power giants.Media representatives of the new pipeline operator didn’t respond to an email seeking comment. The State-owned Assets Supervision & Administration Commission, which oversees centrally owned enterprises, didn’t respond to a faxed request for comment. Nobody answered calls to the media departments of the three companies involved -- China National Petroleum Corp., Sinopec Group and China National Offshore Oil Corp.Policy makers have also embarked on a campaign targeting pollution, replacing coal with gas for industrial and residential uses. That’s boosted demand for the cleaner-burning fuel faster than pipelines can support it, giving China added urgency to push forward the latest reform.Shareholding StructureThe change will mainly affect PetroChina Co., the listed unit of CNPC, which controls about 70% of the nation’s networks. Its shares in Hong Kong sank to their lowest since 2004 last week amid concern the company’s earnings and cash flow would be diluted as it loses one of its most prized assets. The stock rose as much as 2.8% Monday following a gain in oil prices last week.CNPC may take a 30% stake in the pipeline company, while Sinopec holds 20% and CNOOC 10%, Economic Information Daily and 21st Century Business Herald reported. SASAC will own the remaining 40%, they said, citing unidentified sources.Zhang Wei, general manager of CNPC, will likely be appointed as chairman of the pipeline company, according to local media.(Updates with government plan to integrate local pipeline firms in third paragraph.)\--With assistance from Ramsey Al-Rikabi, Jing Yang, Aaron Clark and Dan Murtaugh.To contact the reporters on this story: Alfred Cang in Singapore at acang@bloomberg.net;Jasmine Ng in Singapore at jng299@bloomberg.netTo contact the editors responsible for this story: Ramsey Al-Rikabi at ralrikabi@bloomberg.net, Jason RogersFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Sinopec May Open a Greenfield Refinery Complex in South China
    Zacks

    Sinopec May Open a Greenfield Refinery Complex in South China

    Sinopec's (SNP) new greenfield refinery plant is expected to have a capacity of 200,000 barrels per day.

  • Sinopec (SNP) Q3 Earnings Miss Estimates, Revenues Fall Y/Y
    Zacks

    Sinopec (SNP) Q3 Earnings Miss Estimates, Revenues Fall Y/Y

    Lower realized price of crude hurts Sinopec's (SNP) Q3 earnings.

  • PetroChina (PTR) Q3 Earnings Miss Despite Upstream Strength
    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.

  • China considers up to $10 billion investment in Aramco IPO - Bloomberg
    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.

  • China considers up to $10 billion investment in Aramco IPO: Bloomberg
    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.

  • 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.

  • Sinopec's third-quarter profit drops a third on fuel glut, lower oil prices
    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.

  • 6 High-Yielding Dividend Stocks
    GuruFocus.com

    6 High-Yielding Dividend Stocks

    British American Tobacco makes the list Continue reading...

  • Sinopec to Slash Refining Operations on Rising Freight Rates
    Zacks

    Sinopec to Slash Refining Operations on Rising Freight Rates

    The huge jump in freight rates weakens Sinopec's (SNP) margins from refining operations.

  • Were Hedge Funds Right About Dumping China Petroleum & Chemical Corp (SNP)?
    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 ...

  • Friend or Foe? 3 Chinese Large-Cap Stock Charts to Trade
    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.

  • Here is Hedge Funds’ 27th Most Popular Stock Idea
    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.

  • The Zacks Analyst Blog Highlights: Celgene, Sinopec, HSBC, Vertex Pharmaceuticals and Prudential Financial
    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

  • Top Stock Reports for Celgene, Sinopec & HSBC
    Zacks

    Top Stock Reports for Celgene, Sinopec & HSBC

    Top Stock Reports for Celgene, Sinopec & HSBC

  • Zacks.com featured highlights include: Universal Forest Products, Fossil, Hibbett, China Petroleum and Principal Financial
    Zacks

    Zacks.com featured highlights include: Universal Forest Products, Fossil, Hibbett, China Petroleum and Principal Financial

    Zacks.com featured highlights include: Universal Forest Products, Fossil, Hibbett, China Petroleum and Principal Financial

  • 7 Valuable Low Price-to-Sales Picks for a Rewarding Portfolio
    Zacks

    7 Valuable Low Price-to-Sales Picks for a Rewarding Portfolio

    A stock's price-to-sales ratio reflects how much investors are paying for each dollar of revenues generated by the company.

  • Reuters

    Unipec resells U.S. crude oil to India, South Korea amid trade tensions: sources

    SINGAPORE/NEW DELHI (Reuters) - Unipec is reselling some U.S. crude oil meant for China to buyers in India and South Korea after Beijing imposed a tariff on U.S. oil amid escalating trade tensions with Washington, three sources with knowledge of the matter said on Thursday. Unipec, trading arm of Asia's top refiner China Petroleum & Chemical Corp, or Sinopec, is China's main importer of U.S. crude, but its imports have been disrupted after Beijing imposed a 5% tariff on U.S. crude from Sept. 1.