China Petroleum & Chemical Corporation (SNP) Upgraded to Buy at ValuEngine

ValuEngine upgraded shares of China Petroleum & Chemical Corporation (NYSE:SNP) from a hold rating to a buy rating in a report issued on Monday morning.

SNP has been the subject of several other research reports. Citigroup Inc. raised China Petroleum & Chemical Corporation from a neutral rating to a buy rating in a report on Tuesday, August 29th. BidaskClub raised China Petroleum & Chemical Corporation from a strong sell rating to a sell rating in a report on Tuesday, August 22nd. Jefferies Group LLC cut China Petroleum & Chemical Corporation from a buy rating to a hold rating in a report on Monday, May 15th. Sanford C. Bernstein raised China Petroleum & Chemical Corporation from a market perform rating to an outperform rating in a report on Thursday, July 6th. Finally, Mizuho raised China Petroleum & Chemical Corporation from a neutral rating to a buy rating in a report on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. China Petroleum & Chemical Corporation currently has an average rating of Hold and an average price target of $89.00.

Shares of China Petroleum & Chemical Corporation (NYSE:SNP) opened at 78.22 on Monday. The firm has a 50-day moving average price of $75.86 and a 200-day moving average price of $78.91. China Petroleum & Chemical Corporation has a 12 month low of $67.82 and a 12 month high of $84.88. The stock has a market cap of $94.71 billion, a PE ratio of 11.50 and a beta of 1.16.

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The firm also recently declared a special dividend, which will be paid on Friday, October 6th. Investors of record on Tuesday, September 19th will be issued a $1.5115 dividend. The ex-dividend date is Monday, September 18th. This represents a yield of 6.63%. China Petroleum & Chemical Corporation’s payout ratio is 33.84%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised its holdings in China Petroleum & Chemical Corporation by 15.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 113,628 shares of the oil and gas company’s stock worth $9,262,000 after purchasing an additional 15,174 shares during the period. Koch Industries Inc. acquired a new position in China Petroleum & Chemical Corporation in the 1st quarter worth about $323,000. Thomas White International Ltd. raised its holdings in China Petroleum & Chemical Corporation by 10.1% in the 2nd quarter. Thomas White International Ltd. now owns 53,130 shares of the oil and gas company’s stock worth $4,176,000 after purchasing an additional 4,892 shares during the period. Stifel Financial Corp raised its holdings in China Petroleum & Chemical Corporation by 16.9% in the 1st quarter. Stifel Financial Corp now owns 8,800 shares of the oil and gas company’s stock worth $718,000 after purchasing an additional 1,269 shares during the period. Finally, Ronald Blue & Co. LLC raised its holdings in China Petroleum & Chemical Corporation by 7.1% in the 1st quarter. Ronald Blue & Co. LLC now owns 3,388 shares of the oil and gas company’s stock worth $276,000 after purchasing an additional 226 shares during the period. 0.76% of the stock is owned by institutional investors.

About China Petroleum & Chemical Corporation

China Petroleum & Chemical Corporation is a China-based energy and chemical company. The Company’s segments include Exploration and Development segment, Refining segment, Marketing and Distribution segment, Chemicals segment, and Corporate and Others segment. Exploration and Development segment explores and develops oil fields, as well as produces crude oil and natural gas.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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