Executive Summary
China Oilfield Services Limited, together with its subsidiaries, provides integrated offshore oilfield services in Mainland China and internationally. More Details
Rewards
Risk Analysis
Snowflake Analysis
Good value with adequate balance sheet and pays a dividend.
Similar Companies
Share Price & News
How has China Oilfield Services's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: 2883 is not significantly more volatile than the rest of Hong Kong stocks over the past 3 months, typically moving +/- 7% a week.
Volatility Over Time: 2883's weekly volatility (7%) has been stable over the past year.
Market Performance
7 Day Return
15.4%
2883
13.6%
HK Energy Services
1.1%
HK Market
1 Year Return
-35.7%
2883
-32.1%
HK Energy Services
8.2%
HK Market
Return vs Industry: 2883 underperformed the Hong Kong Energy Services industry which returned -31.8% over the past year.
Return vs Market: 2883 underperformed the Hong Kong Market which returned 7.6% over the past year.
Shareholder returns
| 2883 | Industry | Market | |
|---|---|---|---|
| 7 Day | 15.4% | 13.6% | 1.1% |
| 30 Day | 32.6% | 24.5% | 7.2% |
| 90 Day | 11.3% | 8.3% | 5.2% |
| 1 Year | -34.4%-35.7% | -31.2%-32.1% | 12.6%8.2% |
| 3 Year | -0.4%-4.4% | -33.7%-35.0% | 0.4%-10.0% |
| 5 Year | -4.7%-10.4% | -53.4%-54.3% | 30.6%8.5% |
Long-Term Price Volatility Vs. Market
How volatile is China Oilfield Services's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
China Oilfield Services Limited (HKG:2883) Shares Could Be 28% Below Their Intrinsic Value Estimate3 weeks ago | Simply Wall St
China Oilfield Services Limited (HKG:2883) Just Reported Third-Quarter Earnings: Have Analysts Changed Their Mind On The Stock?1 month ago | Simply Wall St
How Well Is China Oilfield Services (HKG:2883) Allocating Its Capital?Valuation
Is China Oilfield Services undervalued compared to its fair value and its price relative to the market?
8.4%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: 2883 (HK$6.88) is trading below our estimate of fair value (HK$7.51)
Significantly Below Fair Value: 2883 is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: 2883 is good value based on its PE Ratio (10.9x) compared to the HK Energy Services industry average (11.8x).
PE vs Market: 2883 is good value based on its PE Ratio (10.9x) compared to the Hong Kong market (11.2x).
Price to Earnings Growth Ratio
PEG Ratio: 2883 is good value based on its PEG Ratio (0.9x)
Price to Book Ratio
PB vs Industry: 2883 is overvalued based on its PB Ratio (0.7x) compared to the HK Energy Services industry average (0.5x).
Next Steps
Future Growth
How is China Oilfield Services forecast to perform in the next 1 to 3 years based on estimates from 11 analysts?
12.4%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: 2883's forecast earnings growth (12.4% per year) is above the savings rate (1.6%).
Earnings vs Market: 2883's earnings (12.4% per year) are forecast to grow slower than the Hong Kong market (21.9% per year).
High Growth Earnings: 2883's earnings are forecast to grow, but not significantly.
Revenue vs Market: 2883's revenue (5.2% per year) is forecast to grow slower than the Hong Kong market (13.7% per year).
High Growth Revenue: 2883's revenue (5.2% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: 2883's Return on Equity is forecast to be low in 3 years time (7.1%).
Next Steps
Past Performance
How has China Oilfield Services performed over the past 5 years?
54.0%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: 2883 has a large one-off loss of CN¥1.0B impacting its September 30 2020 financial results.
Growing Profit Margin: 2883's current net profit margins (8.1%) are lower than last year (8.3%).
Past Earnings Growth Analysis
Earnings Trend: 2883's earnings have grown significantly by 54% per year over the past 5 years.
Accelerating Growth: 2883's earnings growth over the past year (2.9%) is below its 5-year average (54% per year).
Earnings vs Industry: 2883 earnings growth over the past year (2.9%) exceeded the Energy Services industry -18.6%.
Return on Equity
High ROE: 2883's Return on Equity (6.7%) is considered low.
Next Steps
Financial Health
How is China Oilfield Services's financial position?
Financial Position Analysis
Short Term Liabilities: 2883's short term assets (CN¥26.0B) exceed its short term liabilities (CN¥14.8B).
Long Term Liabilities: 2883's short term assets (CN¥26.0B) exceed its long term liabilities (CN¥24.2B).
Debt to Equity History and Analysis
Debt Level: 2883's debt to equity ratio (67.7%) is considered high.
Reducing Debt: 2883's debt to equity ratio has reduced from 77.1% to 67.7% over the past 5 years.
Debt Coverage: 2883's debt is not well covered by operating cash flow (19.7%).
Interest Coverage: 2883's interest payments on its debt are well covered by EBIT (17x coverage).
Balance Sheet
Next Steps
Dividend
What is China Oilfield Services's current dividend yield, its reliability and sustainability?
2.74%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: 2883's dividend (2.74%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.23%).
High Dividend: 2883's dividend (2.74%) is low compared to the top 25% of dividend payers in the Hong Kong market (6.58%).
Stability and Growth of Payments
Stable Dividend: 2883's dividend payments have been volatile in the past 10 years.
Growing Dividend: 2883's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (30%), 2883's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: 2883's dividends in 3 years are forecast to be well covered by earnings (33% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
1.3yrs
Average management tenure
CEO
Meisheng Qi (52 yo)
0.25
Tenure
CN¥1,521,000
Compensation
Mr. Meisheng Qi serves as Chief Executive Officer at China Oilfield Services Limited since August 26, 2020. Mr. Qi has been Chairman of China Oilfield Services Ltd since March 28, 2018. He serves as the Ex...
CEO Compensation Analysis
Compensation vs Market: Meisheng's total compensation ($USD231.31K) is below average for companies of similar size in the Hong Kong market ($USD600.03K).
Compensation vs Earnings: Meisheng's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Executive Chairman & CEO | 0.25yr | CN¥1.52m | no data | |
| Chief Financial Officer | 2.75yrs | CN¥1.32m | 0.00011% CN¥ 68.1k | |
| VP & General Legal Counsel | 2yrs | CN¥1.30m | no data | |
| Company Secretary | 1.25yrs | CN¥369.10k | no data | |
| President & Executive Director | 0.083yr | no data | no data |
1.3yrs
Average Tenure
51yo
Average Age
Experienced Management: 2883's management team is not considered experienced ( 1.3 years average tenure), which suggests a new team.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Executive Chairman & CEO | 0.25yr | CN¥1.52m | no data | |
| President & Executive Director | 0.083yr | no data | no data | |
| Independent Non-Executive Director | 5.42yrs | CN¥400.00k | no data | |
| Non-Executive Director | 2.92yrs | no data | no data | |
| Chairman of Supervisory Board | 2.5yrs | no data | no data | |
| Independent Supervisor | 5.42yrs | no data | no data | |
| Independent Non-Executive Director | 0.50yr | no data | no data | |
| Independent Non-Executive Director | 4.5yrs | CN¥400.00k | no data | |
| Non-Executive Director | 2.5yrs | no data | no data | |
| Employee Supervisor | 1.33yrs | no data | no data | |
| Supervisor | 0.083yr | no data | no data |
2.5yrs
Average Tenure
60yo
Average Age
Experienced Board: 2883's board of directors are not considered experienced ( 2.5 years average tenure), which suggests a new board.
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
China Oilfield Services Limited's company bio, employee growth, exchange listings and data sources
Key Information
- Name: China Oilfield Services Limited
- Ticker: 2883
- Exchange: SEHK
- Founded:
- Industry: Oil and Gas Drilling
- Sector: Energy
- Market Cap: HK$61.901b
- Shares outstanding: 4.77b
- Website: https://www.cosl.com.cn
Number of Employees
Location
- China Oilfield Services Limited
- 201 Haiyou Avenue
- Yanjiao Economic & Technological Dev Zn
- Sanhe
- Hebei Province
- 65201
- China
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| CHOL.F | OTCPK (Pink Sheets LLC) | Yes | Foreign Shares-Foreign Listed | US | USD | Nov 2002 |
| 2883 | SEHK (The Stock Exchange of Hong Kong Ltd.) | Yes | Foreign Shares-Foreign Listed | HK | HKD | Nov 2002 |
| CO9 | DB (Deutsche Boerse AG) | Yes | Foreign Shares-Foreign Listed | DE | EUR | Nov 2002 |
| 2883 | SHSC (Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect) | Yes | Foreign Shares-Foreign Listed | HK | HKD | Nov 2002 |
| 2883 | SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect) | Yes | Foreign Shares-Foreign Listed | HK | HKD | Nov 2002 |
| 601808 | SHSE (Shanghai Stock Exchange) | Domestic Shares | CN | CNY | Sep 2007 | |
| 601808 | XSSC (Shanghai Stock Exchange - Shanghai - Hong Kong Stock Connect) | Domestic Shares | CN | CNY | Sep 2007 |
Biography
China Oilfield Services Limited, together with its subsidiaries, provides integrated offshore oilfield services in Mainland China and internationally. The company operates through four segments: Drilling S...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/11/26 10:30 |
| End of Day Share Price | 2020/11/26 00:00 |
| Earnings | 2020/09/30 |
| Annual Earnings | 2019/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.