SNP - China Petroleum & Chemical Corporation

NYSE - Nasdaq Real Time Price. Currency in USD
63.81
+0.95 (+1.51%)
As of 11:01AM EDT. Market open.
Stock chart is not supported by your current browser
Previous Close62.86
Open64.10
Bid63.73 x 800
Ask63.77 x 900
Day's Range63.69 - 64.30
52 Week Range57.21 - 102.48
Volume64,152
Avg. Volume170,549
Market Cap88.811B
Beta (3Y Monthly)1.53
PE Ratio (TTM)7.01
EPS (TTM)9.10
Earnings DateN/A
Forward Dividend & Yield5.55 (9.00%)
Ex-Dividend Date2019-09-06
1y Target Est90.48
Trade prices are not sourced from all markets
  • 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.

  • CLSA, BOCI Among Banks Chosen for China National Pipeline Giant
    Bloomberg

    CLSA, BOCI Among Banks Chosen for China National Pipeline Giant

    (Bloomberg) -- China has chosen at least three banks to work on the formation of the planned national oil and gas pipeline company, according to people with knowledge of the matter.BOC International Holdings Ltd., China International Capital Corp. and CLSA Ltd. have been picked as the advisers, said the people, who asked not to be identified because the information is private. Their tasks include extracting pipeline assets from the parent companies of the state’s three listed oil and gas firms -- PetroChina Co., China Petroleum & Chemical Corp., known as Sinopec, and Cnooc Ltd. -- and setting up a new entity to hold the assets, the people said.The national pipeline company would be provisionally named China Pipelines Corp., people familiar with the matter have said. Under the plan, state-controlled and private funds will inject capital sufficient to lower the combined stake held by the three oil majors to about 50%. The company may then file for an initial public offering, while details of the share sale could still change, the people said at that time.China’s State-owned Assets Supervision & Administration Commission is expected to be the biggest shareholder in the new company, while the three oil giants will also have stakes, one of the people said.The creation of the company is part of President Xi Jinping’s drive to streamline industrial capacity, especially among state-owned enterprises. The country has been considering centralizing pipeline operations since at least 2014, aiming to spur wider natural gas distribution and upstream exploration.PetroChina owns 76% of the roughly 65,000 kilometers (40,000 miles) of midstream natural gas pipelines, while 10% is held by Sinopec and 6% by China National Offshore Oil, analysts at Credit Suisse Group AG said in a June report. The remaining are owned by provincial governments or independent operators, they said.Representatives for CLSA, the parent companies of Sinopec and PetroChina declined to comment, while Sasac and the parent of Cnooc didn’t immediately respond to requests for comment. Representatives for BOCI and CICC also didn’t immediately respond to requests for comment.(Updates response from PetroChina’s parent company and CLSA in the final paragraph.)\--With assistance from Carol Zhong and Feifei Shen.To contact Bloomberg News staff for this story: Vinicy Chan in New York at vchan91@bloomberg.net;Crystal Tse in Hong Kong at ctse44@bloomberg.net;Steven Yang in Beijing at kyang74@bloomberg.netTo contact the editors responsible for this story: Fion Li at fli59@bloomberg.net, ;Shiyin Chen at schen37@bloomberg.net, Ramsey Al-RikabiFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Sinopec (SNP) 1H19 Profit Declines on Weak Refining Business
    Zacks

    Sinopec (SNP) 1H19 Profit Declines on Weak Refining Business

    The rise in crude procurement expenses and narrowing of the retail spread hurt Sinopec's (SNP) earnings in the first half of 2019.

  • PetroChina (PTR) H1 Earnings Edge Up on Upstream Strength
    Zacks

    PetroChina (PTR) H1 Earnings Edge Up on Upstream Strength

    PetroChina's (PTR) total production of oil and natural gas increased 5.9% year over year to 779.4 million barrels of oil equivalent.

  • Trump Feeds Oil Markets False Hope
    Oilprice.com

    Trump Feeds Oil Markets False Hope

    Oil prices rallied slightly at the start of the week on the back of what many consider false hope of a trade war de-escalation and a thawing of tensions between the U.S. and Iran.

  • PR Newswire

    Sinopec Announces 1H2019 Results Further Realises the Advantage of Integrated Operations

    BEIJING , Aug. 27, 2019 /PRNewswire/ -- China Petroleum & Chemical Corporation ("Sinopec" or the "Company")(HKEX: 386; SSE: 600028; NYSE: SNP) today announced its interim results for ...

  • Caught in tariff war, Sinopec seeks waiver for imported U.S. oil: sources
    Reuters

    Caught in tariff war, Sinopec seeks waiver for imported U.S. oil: sources

    China Petroleum & Chemical Corp, or Sinopec, is seeking a tariff exemption for U.S. oil being imported in coming months, sources familiar with the matter said, after Beijing late last week imposed retaliatory tariffs on U.S. goods, including crude oil. The largest refiner in Asia is expected to receive four supertankers carrying 8 million barrels of U.S. crude at Tianjin in September and October, according to the sources, data from analytics companies Refinitiv and Kpler.

  • Oilprice.com

    Will China, Russia Defy U.S. Sanctions To Fund Iranian Oil Projects?

    As U.S. sanctions continue to weigh on Iran’s oil sector, Tehran is courting two countries with a rocky relationship with Washington to secure new investments

  • China's petrochemical expansion to overwhelm Japan, South Korea producers
    Reuters

    China's petrochemical expansion to overwhelm Japan, South Korea producers

    SINGAPORE/TOKYO (Reuters) - A massive surge in China's manufacturing capacity for paraxylene, a petrochemical used to make textile fibres and bottles, could force leading exporters in Japan and South Korea to cut production as early as the second quarter of 2020. China will add about 10 million tones of paraxylene manufacturing capacity from March 2019 to March 2020, according to company reports and officials, that is enough for making 22 trillion 500-millilitre plastic bottles. The world's top consumer of paraxylene (PX), China imports 60% of its need for the chemical to feed polyester demand that has more than doubled since 2010.

  • Oil Refiners Go From Profit Pain to Gain on Ship-Fuel Rules
    Bloomberg

    Oil Refiners Go From Profit Pain to Gain on Ship-Fuel Rules

    (Bloomberg) -- The imminent overhaul of global ship-fuel regulations is finally delivering a long-awaited benefit to Asian oil refiners.Profits from turning crude into diesel in the second half of 2019 are forecast to be about 31% higher than the first six months, according to Goldman Sachs Group Inc. Margins have already expanded around 40% since late April as International Maritime Organization rules that prohibit ships from using dirty fuel from Jan. 1 are set to bolster diesel demand, while cutting fuel oil use.It’s taken a while though. In the first half of the year, margins were in freefall as a slew of refinery startups in Asia flooded the market and the trade war between Washington and Beijing weighed on demand. Refiners in China, South Korea and Taiwan were forced to reduce operating rates due to poor margins and a fuel glut. Output cuts from OPEC+ also squeezed the flow of heavier crude, raising the costs for many Asian buyers that rely on Middle Eastern oil.“Diesel will be a beneficiary of the transition,” Nikhil Bhandari, an analyst at Goldman, said by phone. “The impact of IMO 2020 to the spot refining margins we believe will start from the fourth quarter of this year.”See also: Fitch Solutions Sees Large Spike in Diesel Price Due to IMO 2020The new IMO rules have been in the pipeline since 2016, but have started to throw oil markets around the world into disarray as they draw near. Goldman described the transition as one of the largest one-time reductions in sulfur specification in the history of energy fuel markets. While shippers will still be able to use dirty fuel if they add special pollution kits, many are adopting a wait-and-see mode to installing the equipment.Diesel MarginsIn Singapore, diesel crack spreads are forecast to average $17.60 a barrel during the second half of the year, compared with $13.40 during the first six months, according to Goldman, provided the global economy doesn’t fall into recession and crimp demand. Diesel cracks are forecast to improve further to about $19 in 2020, according to Sanford C. Bernstein & Co. Profit margins from cracking Dubai oil into diesel was at $16.14 at 4:30 p.m. Singapore and has averaged $16.39 so far this month.Tighter gasoline supply will also support an overall improvement in Asian refining margins, Goldman said. Heavy residue like vacuum gasoil can be used more as IMO-compliant fuels, meaning less volumes will be cracked into gasoline, the bank said.China’s biggest refiner China Petroleum & Chemical Corp., or Sinopec, and India’s Reliance Industries Ltd., are among Asian processors that are poised to benefit from IMO 2020, according to Bernstein. Sinopec’s margins are likely to be boosted by about 40% next year from the second quarter.Improving margins are also starting to boost demand for low-sulfur crudes with a high diesel yield. A shipment of Russia’s Sokol was recently sold at about $5.80 a barrel premium to its benchmark price, the strongest since May, while an Australian Pyrenees grade was sold at a premium of about $14.50, compared with early-2017 when it traded as low as $1.60.“Gasoil has been strong in Asia and Chinese domestic margins are also picking up,” said Senthil Kumaran, Singapore-based senior oil analyst at industry consultant FGE. “Refining margins are robust, encouraging refiners to run at elevated levels in the coming quarters.”(Updates with diesel cracking margin price in sixth paragraph.)To contact the reporter on this story: Sharon Cho in Singapore at ccho28@bloomberg.netTo contact the editors responsible for this story: Serene Cheong at scheong20@bloomberg.net, Ben SharplesFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Top Stock Reports: Micron, Sinopec, Celgene & More
    Zacks

    Top Stock Reports: Micron, Sinopec, Celgene & More

    Top Stock Reports: Micron, Sinopec, Celgene & More

  • 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.

  • Can Big Spending Boost Lift China's Oil & Gas Output?
    Zacks

    Can Big Spending Boost Lift China's Oil & Gas Output?

    While China's efforts to increase output may offset production decline from aging oilfields, it is not likely to reduce its dependence on foreign oil and gas imports.

  • McDermott Wins EPCI Contracts Worth $4.5B From Saudi Aramco
    Zacks

    McDermott Wins EPCI Contracts Worth $4.5B From Saudi Aramco

    The value of the latest two contracts will be reflected in McDermott's (MDR) second-quarter 2019 backlog.

  • New Strong Sell Stocks for July 8th
    Zacks

    New Strong Sell Stocks for July 8th

    Here are 5 stocks added to the Zacks Rank 5 (Strong Sell) List today.

  • China refiners curb fuel output after massive new plants stoke glut
    Reuters

    China refiners curb fuel output after massive new plants stoke glut

    SINGAPORE/BEIJING (Reuters) - China's fuel producers are making extended curbs to their output in the third quarter after supply from mammoth new refineries stoked an already-sizeable glut, potentially dragging on crude oil demand from the world's biggest importer of the commodity. Private refiner Hengli Petrochemical ramped up its 400,000-barrels per day (bpd) plant in northeast China to full capacity in May, while Zhejiang Petrochemical began trial runs around the same time at a similar-sized refinery on the east coast. The swollen surplus of fuel products could also send China's fuel exports surging to new highs and further pinch Asian refining profits.

  • Here is What Hedge Funds Think About China Petroleum & Chemical Corp (SNP)
    Insider Monkey

    Here is What Hedge Funds Think About China Petroleum & Chemical Corp (SNP)

    Legendary investors such as Jeffrey Talpins and Seth Klarman earn enormous amounts of money for themselves and their investors by doing in-depth research on small-cap stocks that big brokerage houses don't publish. Small cap stocks -especially when they are screened well- can generate substantial outperformance versus a boring index fund. That's why we analyze the […]

  • World's Top 10 Oil Producers (SNP, RDS-A)
    Investopedia

    World's Top 10 Oil Producers (SNP, RDS-A)

    China's two state-owned giants lead the list of top 10 global oil producing companies during the first six months of 2016.

  • New Strong Sell Stocks for June 24th
    Zacks

    New Strong Sell Stocks for June 24th

    Here are 5 stocks added to the Zacks Rank 5 (Strong Sell) List today

  • New Strong Sell Stocks for June 13th
    Zacks

    New Strong Sell Stocks for June 13th

    Here are 5 stocks added to the Zacks Rank 5 (Strong Sell) List today