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Sinopec Oilfield Service ( (HK:1033) ) just unveiled an announcement.
Sinopec Oilfield Service Corporation announced a plan to use its reserves to offset accumulated losses, in line with regulatory requirements and to promote high-quality development. This strategic move aims to enhance investor returns and stabilize the company’s financial standing by reducing its accumulated undistributed profits to zero, thereby fulfilling profit distribution conditions and supporting long-term dividend distribution.
The most recent analyst rating on (HK:1033) stock is a Buy with a HK$0.92 price target. To see the full list of analyst forecasts on Sinopec Oilfield Service stock, see the HK:1033 Stock Forecast page.
More about Sinopec Oilfield Service
Sinopec Oilfield Service Corporation is a joint stock limited company established in the People’s Republic of China, operating in the oilfield services industry. The company focuses on providing comprehensive oilfield services, which include drilling, logging, and other related services, to enhance the efficiency and productivity of oil extraction processes.
YTD Price Performance: 26.15%
Average Trading Volume: 144,059,165
Technical Sentiment Signal: Strong Buy
Current Market Cap: HK$34.39B
Learn more about 1033 stock on TipRanks’ Stock Analysis page.