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China Oil And Gas Group

SEHK:603
Snowflake Description

Fair value with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
603
SEHK
HK$2B
Market Cap
  1. Home
  2. HK
  3. Utilities
Company description

China Oil And Gas Group Limited, an investment holding company, primarily invests in energy related businesses in the People’s Republic of China and Canada. The last earnings update was 25 days ago. More info.


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  • China Oil And Gas Group has significant price volatility in the past 3 months.
603 Share Price and Events
7 Day Returns
-10.1%
SEHK:603
-1.9%
HK Gas Utilities
-2.5%
HK Market
1 Year Returns
-33.3%
SEHK:603
1.4%
HK Gas Utilities
-15.9%
HK Market
603 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
China Oil And Gas Group (603) -10.1% -20% -24.5% -33.3% -24.5% -65.6%
HK Gas Utilities -1.9% -1.8% -1.4% 1.4% 68.2% 31.3%
HK Market -2.5% -8.6% -3.6% -15.9% 25.4% 7.8%
1 Year Return vs Industry and Market
  • 603 underperformed the Gas Utilities industry which returned 1.4% over the past year.
  • 603 underperformed the Market in Hong Kong which returned -15.9% over the past year.
Price Volatility
603
Industry
5yr Volatility vs Market

Value

 Is China Oil And Gas Group undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of China Oil And Gas Group to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for China Oil And Gas Group.

SEHK:603 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 10.6%
Perpetual Growth Rate 10-Year HK Government Bond Rate 2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for SEHK:603
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6.7%
Gas Utilities Unlevered Beta Simply Wall St/ S&P Global 0.42
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.417 (1 + (1- 25%) (323.49%))
1.287
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.29
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.287 * 6.65%)
10.56%

Discounted Cash Flow Calculation for SEHK:603 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for China Oil And Gas Group is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

SEHK:603 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 10.56%)
2019 111.69 Est @ -32.01% 101.02
2020 87.33 Est @ -21.81% 71.44
2021 74.52 Est @ -14.66% 55.14
2022 67.32 Est @ -9.66% 45.05
2023 63.17 Est @ -6.16% 38.23
2024 60.83 Est @ -3.71% 33.30
2025 59.61 Est @ -2% 29.51
2026 59.13 Est @ -0.8% 26.48
2027 59.16 Est @ 0.04% 23.96
2028 59.53 Est @ 0.63% 21.81
Present value of next 10 years cash flows HK$445.94
SEHK:603 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= HK$59.53 × (1 + 2%) ÷ (10.56% – 2%)
HK$709.30
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$709.30 ÷ (1 + 10.56%)10
HK$259.83
SEHK:603 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$445.94 + HK$259.83
HK$705.77
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$705.77 / 4,999.13
HK$0.14
SEHK:603 Discount to Share Price
Calculation Result
Value per share (HKD) From above. HK$0.14
Current discount Discount to share price of HK$0.40
= -1 x (HK$0.40 - HK$0.14) / HK$0.14
-183.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of China Oil And Gas Group is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for China Oil And Gas Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are China Oil And Gas Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:603 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in HKD HK$0.06
SEHK:603 Share Price ** SEHK (2019-05-20) in HKD HK$0.4
Hong Kong Gas Utilities Industry PE Ratio Median Figure of 13 Publicly-Listed Gas Utilities Companies 16.96x
Hong Kong Market PE Ratio Median Figure of 1,476 Publicly-Listed Companies 11.17x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of China Oil And Gas Group.

SEHK:603 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:603 Share Price ÷ EPS (both in HKD)

= 0.4 ÷ 0.06

7.06x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • China Oil And Gas Group is good value based on earnings compared to the HK Gas Utilities industry average.
  • China Oil And Gas Group is good value based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does China Oil And Gas Group's expected growth come at a high price?
Raw Data
SEHK:603 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.06x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
17.5%per year
Hong Kong Gas Utilities Industry PEG Ratio Median Figure of 8 Publicly-Listed Gas Utilities Companies 1.18x
Hong Kong Market PEG Ratio Median Figure of 463 Publicly-Listed Companies 0.79x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for China Oil And Gas Group, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on China Oil And Gas Group's assets?
Raw Data
SEHK:603 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in HKD HK$0.64
SEHK:603 Share Price * SEHK (2019-05-20) in HKD HK$0.4
Hong Kong Gas Utilities Industry PB Ratio Median Figure of 14 Publicly-Listed Gas Utilities Companies 1.39x
Hong Kong Market PB Ratio Median Figure of 2,155 Publicly-Listed Companies 0.97x
SEHK:603 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:603 Share Price ÷ Book Value per Share (both in HKD)

= 0.4 ÷ 0.64

0.63x

* Primary Listing of China Oil And Gas Group.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • China Oil And Gas Group is good value based on assets compared to the HK Gas Utilities industry average.
X
Value checks
We assess China Oil And Gas Group's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Gas Utilities industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Gas Utilities industry average (and greater than 0)? (1 check)
  5. China Oil And Gas Group has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is China Oil And Gas Group expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover China Oil And Gas Group, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
17.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is China Oil And Gas Group expected to grow at an attractive rate?
  • China Oil And Gas Group's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • China Oil And Gas Group's earnings growth is expected to exceed the Hong Kong market average.
  • Unable to compare China Oil And Gas Group's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:603 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:603 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 17.5%
Hong Kong Gas Utilities Industry Earnings Growth Rate Market Cap Weighted Average 10.3%
Hong Kong Gas Utilities Industry Revenue Growth Rate Market Cap Weighted Average 10.7%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.4%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
SEHK:603 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:603 Future Estimates Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
SEHK:603 Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-12-31 9,410 1,272 282
2018-09-30 9,187 1,315 289
2018-06-30 8,963 1,357 296
2018-03-31 8,307 1,371 273
2017-12-31 7,651 1,386 250
2017-09-30 7,228 1,362 266
2017-06-30 6,805 1,338 282
2017-03-31 6,626 1,314 297
2016-12-31 6,446 1,290 312
2016-09-30 6,631 1,187 119
2016-06-30 6,815 1,084 -73
2016-03-31 7,094 970 -129

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • China Oil And Gas Group's earnings are expected to grow by 17.5% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if China Oil And Gas Group is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
SEHK:603 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from China Oil And Gas Group Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:603 Future Estimates Data
Date (Data in HKD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
SEHK:603 Past Financials Data
Date (Data in HKD Millions) EPS *
2018-12-31 0.06
2018-09-30 0.06
2018-06-30 0.06
2018-03-31 0.05
2017-12-31 0.05
2017-09-30 0.05
2017-06-30 0.05
2017-03-31 0.06
2016-12-31 0.06
2016-09-30 0.02
2016-06-30 -0.01
2016-03-31 -0.02

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if China Oil And Gas Group will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess China Oil And Gas Group's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Hong Kong market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Hong Kong market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
China Oil And Gas Group has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has China Oil And Gas Group performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare China Oil And Gas Group's growth in the last year to its industry (Gas Utilities).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • China Oil And Gas Group's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • China Oil And Gas Group's 1-year earnings growth exceeds its 5-year average (12.6% vs -4.5%)
  • China Oil And Gas Group's earnings growth has exceeded the HK Gas Utilities industry average in the past year (12.6% vs 10.7%).
Earnings and Revenue History
China Oil And Gas Group's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from China Oil And Gas Group Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:603 Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 9,410.13 281.90 422.12
2018-09-30 9,186.69 289.14 411.86
2018-06-30 8,963.25 296.38 401.60
2018-03-31 8,307.27 273.42 379.80
2017-12-31 7,651.28 250.47 358.00
2017-09-30 7,228.20 266.22 363.98
2017-06-30 6,805.12 281.98 369.95
2017-03-31 6,625.79 296.89 369.07
2016-12-31 6,446.45 311.79 368.19
2016-09-30 6,630.51 119.16 367.60
2016-06-30 6,814.58 -73.46 367.00
2016-03-31 7,094.24 -128.65 377.67
2015-12-31 7,373.90 -183.83 388.34
2015-09-30 7,741.02 2.28 399.91
2015-06-30 8,108.14 188.39 411.48
2015-03-31 7,902.98 248.52 388.03
2014-12-31 7,697.81 308.65 364.57
2014-09-30 7,352.62 381.70 321.57
2014-06-30 7,007.42 454.76 278.58
2014-03-31 6,723.62 428.13 277.27
2013-12-31 6,439.83 401.49 275.95
2013-09-30 5,925.54 385.81 297.41
2013-06-30 5,411.26 370.13 318.87
2013-03-31 5,150.34 367.92 305.95
2012-12-31 4,889.43 365.71 293.04
2012-09-30 4,802.84 310.59 278.98
2012-06-30 4,716.26 255.48 264.93

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • China Oil And Gas Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • China Oil And Gas Group used its assets less efficiently than the HK Gas Utilities industry average last year based on Return on Assets.
  • China Oil And Gas Group has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess China Oil And Gas Group's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Gas Utilities industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
China Oil And Gas Group has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is China Oil And Gas Group's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up China Oil And Gas Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • China Oil And Gas Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • China Oil And Gas Group's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of China Oil And Gas Group's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from China Oil And Gas Group Company Filings, last reported 4 months ago.

SEHK:603 Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 5,912.06 6,549.47 2,666.90
2018-09-30 5,912.06 6,549.47 2,666.90
2018-06-30 6,473.33 6,438.47 2,711.93
2018-03-31 6,473.33 6,438.47 2,711.93
2017-12-31 6,205.66 5,719.50 2,338.98
2017-09-30 6,205.66 5,719.50 2,338.98
2017-06-30 5,722.86 5,506.40 1,819.96
2017-03-31 5,722.86 5,506.40 1,819.96
2016-12-31 5,250.95 5,367.32 3,375.55
2016-09-30 5,250.95 5,367.32 3,375.55
2016-06-30 5,558.16 5,399.96 1,907.23
2016-03-31 5,558.16 5,399.96 1,907.23
2015-12-31 5,200.25 5,964.94 4,082.39
2015-09-30 5,200.25 5,964.94 4,082.39
2015-06-30 5,910.43 6,140.63 3,061.81
2015-03-31 5,910.43 6,140.63 3,061.81
2014-12-31 6,092.75 5,787.05 4,381.61
2014-09-30 6,092.75 5,787.05 4,381.61
2014-06-30 6,103.24 4,568.72 4,450.64
2014-03-31 6,103.24 4,568.72 4,450.64
2013-12-31 5,826.15 4,334.58 4,721.91
2013-09-30 5,826.15 4,334.58 4,721.91
2013-06-30 5,328.03 4,346.71 4,628.76
2013-03-31 5,328.03 4,346.71 4,628.76
2012-12-31 5,026.83 2,356.87 3,846.12
2012-09-30 5,026.83 2,356.87 3,846.12
2012-06-30 4,440.46 2,156.24 2,737.74
  • China Oil And Gas Group's level of debt (110.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (74.4% vs 110.8% today).
  • Debt is not well covered by operating cash flow (19.4%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 16.6x coverage).
X
Financial health checks
We assess China Oil And Gas Group's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. China Oil And Gas Group has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is China Oil And Gas Group's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1%
Current annual income from China Oil And Gas Group dividends.
If you bought HK$2,000 of China Oil And Gas Group shares you are expected to receive HK$20 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • China Oil And Gas Group's pays a lower dividend yield than the bottom 25% of dividend payers in Hong Kong (2.07%).
  • China Oil And Gas Group's dividend is below the markets top 25% of dividend payers in Hong Kong (5.72%).
Upcoming dividend payment

Purchase China Oil And Gas Group before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
SEHK:603 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Hong Kong Gas Utilities Industry Average Dividend Yield Market Cap Weighted Average of 11 Stocks 1.9%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 968 Stocks 3.6%
Hong Kong Minimum Threshold Dividend Yield 10th Percentile 1.2%
Hong Kong Bottom 25% Dividend Yield 25th Percentile 2.1%
Hong Kong Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

SEHK:603 Future Dividends Estimate Data
Date (Data in HK$) Dividend per Share (annual) Avg. No. Analysts
SEHK:603 Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2019-04-25 0.004 0.882
2019-03-28 0.004 0.804
2018-04-27 0.004 0.615
2018-03-27 0.004 0.579
2017-04-10 0.005 0.845
2017-03-29 0.005 0.837
2015-09-14 0.000 0.000
2015-08-27 0.000 0.000
2015-04-22 0.000 0.000
2015-03-30 0.000 0.000
2014-04-16 0.007 0.598
2013-03-21 0.006 0.486
2013-03-12 0.006 0.442

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • China Oil And Gas Group is not paying a notable dividend for Hong Kong, therefore no need to check if the payments are stable.
  • China Oil And Gas Group is not paying a notable dividend for Hong Kong, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of China Oil And Gas Group's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of China Oil And Gas Group's dividends as it is not paying a notable one for Hong Kong.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess China Oil And Gas Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can China Oil And Gas Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. China Oil And Gas Group has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of China Oil And Gas Group's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Tie-liang Xu
COMPENSATION HK$10,486,000
AGE 54
TENURE AS CEO 9.5 years
CEO Bio

Mr. Tie-liang Xu has been the Chief Executive Officer of China Oil And Gas Group Limited since November 4, 2009 and also has been its Executive Chairman since August 30, 2006. Mr. Xu has 29 years’ experience in management, investments, legal and finance. He served as General Manager of China Legal Service (Hong Kong) Limited. Mr. Xu served as an Accountant in the subsidiaries of China National Petroleum Corporation (CNPC) and worked in various governmental legal departments in the PRC. Mr. Xu served as Vice Chairman of China Legal Service (Hong Kong) Limited and China Law Magazine Limited. He serves as an Independent Director of Hua Xia Bank Co., Limited. Mr. Xu is also a Honorary Life Chairman of Cross-Strait Peaceful Development Federation; Vice Chairman of Hong Kong Energy and Minerals United Associations; Honorary Chairman of The Hong Kong Chinese Enterprises Association (Shandong). He serves as the Chairman of China City Natural Gas Investment Group Co., Ltd and Baccalieu Energy Inc. Mr. Xu served as a Director at Huaxia Bank Co., Ltd. He served as an Independent Director of Shandong Shengli Company Limited. He served as an Independent Director of Leadership Publishing Group Limited (now SMI Publishing Group Ltd.) from February 2003 to March 1, 2004. He holds Professional Qualification of Accountant in the People's Republic of China (PRC). He is the Registered Lawyer of the Ministry of Justice of PRC. He was the Registered Lawyer of the Hong Kong Law Society. Mr. Xu is a Certified Public Accountant from Hong Kong Institute of Certified Public Accountants. Mr. Xu graduated from the Xi'an Shiyou University majoring in Accounting and Finance. Mr. Xu graduated from the University of International Business and Economics, Beijing, PRC with a Master degree.

CEO Compensation
  • Tie-liang's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Tie-liang's remuneration is higher than average for companies of similar size in Hong Kong.
Management Team

Tie-liang Xu

TITLE
Executive Chairman & CEO
COMPENSATION
HK$10M
AGE
54
TENURE
9.5 yrs

Yijun Guan

TITLE
VP & Executive Director
COMPENSATION
HK$1M
AGE
54

Jenny Law

TITLE
Chief Financial Officer

Chunsun Liu

TITLE
Executive Director
AGE
59

Stella Chan

TITLE
Company Secretary
AGE
47
TENURE
13.6 yrs
Board of Directors Tenure

Average tenure and age of the China Oil And Gas Group board of directors in years:

9.1
Average Tenure
54
Average Age
  • The tenure for the China Oil And Gas Group board of directors is about average.
Board of Directors

Tie-liang Xu

TITLE
Executive Chairman & CEO
COMPENSATION
HK$10M
AGE
54
TENURE
12.8 yrs

Yijun Guan

TITLE
VP & Executive Director
COMPENSATION
HK$1M
AGE
54
TENURE
8.7 yrs

Chunsun Liu

TITLE
Executive Director
AGE
59
TENURE
0.9 yrs

Yunlong Li

TITLE
Independent Non Executive Director
COMPENSATION
HK$120K
AGE
66
TENURE
11.1 yrs

Guangtian Wang

TITLE
Independent Non-Executive Director
COMPENSATION
HK$120K
AGE
54
TENURE
9.5 yrs

Jack Yang

TITLE
Independent Non-Executive Director
COMPENSATION
HK$75K
AGE
54
TENURE
2 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by China Oil And Gas Group insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
30. Apr 19 Buy Tie-liang Xu Individual 29. Apr 19 29. Apr 19 480,000 HK$0.48 HK$230,401
29. Apr 19 Buy Tie-liang Xu Individual 26. Apr 19 26. Apr 19 380,000 HK$0.48 HK$182,399
09. Oct 18 Buy Tie-liang Xu Individual 09. Oct 18 09. Oct 18 300,000 HK$0.57 HK$170,999
08. Oct 18 Buy Tie-liang Xu Individual 08. Oct 18 08. Oct 18 640,000 HK$0.56 HK$360,832
18. Sep 18 Buy Tie-liang Xu Individual 18. Sep 18 18. Sep 18 1,820,000 HK$0.60 HK$1,089,092
12. Sep 18 Buy Tie-liang Xu Individual 12. Sep 18 12. Sep 18 2,000,000 HK$0.58 HK$1,161,007
11. Sep 18 Buy Tie-liang Xu Individual 11. Sep 18 11. Sep 18 740,000 HK$0.59 HK$436,597
07. Sep 18 Buy Tie-liang Xu Individual 07. Sep 18 07. Sep 18 1,340,000 HK$0.60 HK$804,003
06. Sep 18 Buy Tie-liang Xu Individual 06. Sep 18 06. Sep 18 1,160,000 HK$0.59 HK$684,400
30. Aug 18 Buy Tie-liang Xu Individual 29. Aug 18 29. Aug 18 1,040,000 HK$0.61 HK$634,192
11. Jul 18 Buy Tie-liang Xu Individual 11. Jul 18 11. Jul 18 800,000 HK$0.60 HK$480,000
05. Jul 18 Buy Tie-liang Xu Individual 05. Jul 18 05. Jul 18 1,000,000 HK$0.58 HK$584,000
04. Jul 18 Buy Tie-liang Xu Individual 03. Jul 18 03. Jul 18 940,000 HK$0.60 HK$563,996
X
Management checks
We assess China Oil And Gas Group's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. China Oil And Gas Group has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Does China Oil And Gas Group Limited's (HKG:603) P/E Ratio Signal A Buying Opportunity?

The formula for P/E is: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for China Oil And Gas Group: P/E of 7.86 = HK$0.45 ÷ HK$0.057 (Based on the trailing twelve months to December 2018.) Is A High Price-to-Earnings Ratio Good? … How Does China Oil And Gas Group's P/E Ratio Compare To Its Peers? … How Does China Oil And Gas Group's Debt Impact Its P/E Ratio?

Simply Wall St -

Does China Oil And Gas Group Limited's (HKG:603) 13% Earnings Growth Make It An Outperformer?

When China Oil And Gas Group Limited (HKG:603) released its most recent earnings update (31 December 2018), I compared it against two factor: its historical earnings track record, and the performance of its industry peers on average. … Understanding how China Oil And Gas Group performed requires a benchmark rather than trying to assess a standalone number at one point in time. … 603's trailing twelve-month earnings (from 31 December 2018) of HK$282m has.

Simply Wall St -

Could The China Oil And Gas Group Limited (HKG:603) Ownership Structure Tell Us Something Useful?

Every investor in China Oil And Gas Group Limited (HKG:603) should be aware of the most powerful shareholder groups. … China Oil And Gas Group is not a large company by global standards. … Taking a look at our data on the ownership groups (below), it's seems that.

Simply Wall St -

Does China Oil And Gas Group Limited (HKG:603) Have A Particularly Volatile Share Price?

If you're interested in China Oil And Gas Group Limited (HKG:603), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). … A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market.

Simply Wall St -

If You Had Bought China Oil And Gas Group (HKG:603) Stock Five Years Ago, You'd Be Sitting On A 51% Loss, Today

By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. … During the five years over which the share price declined, China Oil And Gas Group's earnings per share (EPS) dropped by 2.9% each year. … The company's earnings per share (over time) is depicted in the image below (click to see the exact numbers)

Simply Wall St -

Have Insiders Been Buying China Oil And Gas Group Limited (HKG:603) Shares?

We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. … So we'll take a look at whether insiders have been buying or selling shares in China Oil And Gas Group Limited (HKG:603). … But logic dictates you should pay some attention to whether insiders are buying or selling shares.

Simply Wall St -

Has China Oil And Gas Group Limited (HKG:603) Been Employing Capital Shrewdly?

Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … Understanding Return On Capital Employed (ROCE). … How Do You Calculate Return On Capital Employed

Simply Wall St -

What does China Oil And Gas Group Limited's (HKG:603) Balance Sheet Tell Us About Its Future?

Help shape the future of investing tools and receive a $60 prize! … Investors are always looking for growth in small-cap stocks like China Oil And Gas Group Limited (HKG:603), with a market cap of HK$2.6b. … since poor capital management may bring about bankruptcies,

Simply Wall St -

Does China Oil And Gas Group Limited's (HKG:603) CEO Pay Reflect Performance?

In 2009 Tie-liang Xu was appointed CEO of China Oil And Gas Group Limited (HKG:603). … This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does Tie-liang Xu's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Could China Oil And Gas Group Limited's (HKG:603) Investor Composition Influence The Stock Price?

China Oil And Gas Group is not a large company by global standards. … Our analysis of the ownership of the company, below, shows that. … See our latest analysis for China Oil And Gas Group

Simply Wall St -

Company Info

Description

China Oil And Gas Group Limited, an investment holding company, primarily invests in energy related businesses in the People’s Republic of China and Canada. The company operates in three segments: Sales and Distribution of Natural Gas and Other Related Products; Gas Pipeline Construction and Connection; and Exploitation and Production of Crude Oil and Natural Gas. It is involved in the piped city gas business, as well as design and construction of gas pipelines; and the transportation, distribution, and sale of compressed natural gas and liquefied natural gas. The company also develops, produces, and sells crude oil and gas, and other upstream energy resources; and provides construction and connection services of gas pipelines. In addition, it operates natural gas stations for automobiles. The company serves approximately 1,343,844 residential users; and 11,812 industrial and commercial users. China Oil And Gas Group Limited is headquartered in Causeway Bay, Hong Kong.

Details
Name: China Oil And Gas Group Limited
603
Exchange: SEHK
Founded:
HK$2,024,649,518
4,999,134,613
Website: http://www.hk603.com
Address: China Oil And Gas Group Limited
Sino Plaza,
Suite 2805,
Causeway Bay,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 603 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 17. Aug 1993
OTCPK CLSZ.F Ordinary Shares Pink Sheets LLC US USD 17. Aug 1993
DB GPI1 Ordinary Shares Deutsche Boerse AG DE EUR 17. Aug 1993
Number of employees
Current staff
Staff numbers
3,595
China Oil And Gas Group employees.
Industry
Gas Utilities
Utilities
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/20 12:41
End of day share price update: 2019/05/20 00:00
Last estimates confirmation: 2018/03/18
Last earnings filing: 2019/04/25
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.