SNP - China Petroleum & Chemical Corporation

NYSE - NYSE Delayed Price. Currency in USD
57.74
+0.19 (+0.33%)
At close: 4:02PM EST
Stock chart is not supported by your current browser
Previous Close57.55
Open57.60
Bid57.69 x 1800
Ask57.74 x 1000
Day's Range57.43 - 58.50
52 Week Range54.94 - 87.17
Volume159,463
Avg. Volume178,444
Market Cap82B
Beta (5Y Monthly)1.64
PE Ratio (TTM)6.35
EPS (TTM)9.10
Earnings DateN/A
Forward Dividend & Yield5.55 (9.65%)
Ex-Dividend Date2019-09-06
1y Target Est82.89
  • Hedge Funds Love These 3 Peers Way More Than China Petroleum & Chemical Corp (SNP)
    Insider Monkey

    Hedge Funds Love These 3 Peers Way More Than China Petroleum & Chemical Corp (SNP)

    Based on the fact that hedge funds have collectively under-performed the market for several years, it would be easy to assume that their stock picks simply aren't very good. However, our research shows this not to be the case. In fact, when it comes to their very top picks collectively, they show a strong ability […]

  • 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 and Air Liquide Inaugurate Two Hydrogen Stations in Shanghai
    PR Newswire

    Sinopec and Air Liquide Inaugurate Two Hydrogen Stations in Shanghai

    Shanghai gets its first combined commercial petrol and hydrogen fuel station SHANGHAI , Nov. 20, 2019 /PRNewswire/ -- China Petroleum & Chemical Corporation ("Sinopec" or the "Company") ...

  • 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.

  • 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 ...

  • 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 Debuts World's Largest Crawler Crane in Saudi Arabia
    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 ...

  • 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 […]