China Petroleum & Chemical’s Stock Price Slips to 4.09 HKD, Witnessing a 1.68% Drop

China Petroleum & Chemical (386)

4.09 HKD -0.07 (-1.68%) Volume: 244.15M

China Petroleum & Chemical’s stock price stands at 4.09 HKD, experiencing a decline of -1.68% this trading session with a high trading volume of 244.15M, reflecting a year-to-date percentage change of -8.09%, indicating a bearish trend in its market performance.

Latest developments on China Petroleum & Chemical

China Petroleum & Chemical, also known as Sinopec Corp., recently reported a 16.8% drop in net profit for 2024, citing falling oil prices and sales of new energy vehicles as key factors. This news comes amidst a challenging year for the company, with headwinds mounting and overall profitability taking a hit. As a result, Hong Kong shares of China Petroleum & Chemical slid 3% following the announcement. Despite these challenges, Sinopec remains focused on risk control, especially in its Russian oil purchases, as it looks towards the future and works to navigate the evolving landscape of the global oil market. Additionally, the company declared a final dividend for 2024, showing a commitment to shareholders even in the face of profit declines.

A look at China Petroleum & Chemical Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

China Petroleum & Chemical Corporation, also known as Sinopec, has a positive long-term outlook based on its Smartkarma Smart Scores. With a top score in Value and strong scores in Dividend and Momentum, the company is well-positioned for growth and profitability. Sinopec’s focus on producing and trading petroleum and petrochemical products, including gasoline, diesel, and synthetic fibers, aligns with the increasing demand for energy and industrial materials in China.

While Sinopec’s Growth and Resilience scores are not as high as some other factors, the overall outlook for the company remains favorable. As a key player in the Chinese market for petroleum and petrochemical products, Sinopec’s solid financial performance and strategic positioning make it a reliable choice for investors looking for stability and profitability in the long term.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
Have feedback on this article? Concerned about the content? Get in touch with us directly.

💡 Before it’s here, it’s on Smartkarma