Wells Fargo & Company MN Sells 8,969 Shares of China Petroleum & Chemical Corp (NYSE:SNP)

Wells Fargo & Company MN decreased its position in China Petroleum & Chemical Corp (NYSE:SNP) by 11.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,673 shares of the oil and gas company’s stock after selling 8,969 shares during the quarter. Wells Fargo & Company MN’s holdings in China Petroleum & Chemical were worth $4,751,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SNP. Meitav Dash Investments Ltd. bought a new position in China Petroleum & Chemical during the first quarter valued at approximately $241,000. Creative Planning acquired a new stake in shares of China Petroleum & Chemical during the second quarter valued at about $212,000. Whitener Capital Management Inc. grew its stake in shares of China Petroleum & Chemical by 197.6% during the second quarter. Whitener Capital Management Inc. now owns 3,125 shares of the oil and gas company’s stock valued at $213,000 after acquiring an additional 2,075 shares in the last quarter. Wetherby Asset Management Inc. grew its stake in shares of China Petroleum & Chemical by 8.2% during the second quarter. Wetherby Asset Management Inc. now owns 3,530 shares of the oil and gas company’s stock valued at $241,000 after acquiring an additional 269 shares in the last quarter. Finally, Redwood Investment Management LLC acquired a new stake in shares of China Petroleum & Chemical during the first quarter valued at about $425,000. Hedge funds and other institutional investors own 0.97% of the company’s stock.

NYSE SNP traded up $0.31 on Thursday, hitting $60.95. 2,827 shares of the stock were exchanged, compared to its average volume of 194,415. China Petroleum & Chemical Corp has a 52-week low of $57.21 and a 52-week high of $102.47. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.90 and a quick ratio of 0.53. The company has a market capitalization of $77.46 billion, a price-to-earnings ratio of 8.50, a P/E/G ratio of 3.18 and a beta of 1.50. The company’s 50-day moving average price is $60.03 and its two-hundred day moving average price is $70.21.

The firm also recently disclosed a — dividend, which will be paid on Thursday, October 3rd. Investors of record on Monday, September 9th will be paid a $1.5295 dividend. This represents a dividend yield of 9.7%. The ex-dividend date is Friday, September 6th. China Petroleum & Chemical’s payout ratio is presently 37.90%.

Several brokerages have recently commented on SNP. TheStreet cut shares of China Petroleum & Chemical from a “b” rating to a “c+” rating in a research report on Thursday, June 6th. Jefferies Financial Group lowered shares of China Petroleum & Chemical from a “buy” rating to a “hold” rating in a research report on Wednesday, July 3rd. Finally, Credit Suisse Group upgraded shares of China Petroleum & Chemical from a “neutral” rating to an “outperform” rating in a research report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $94.00.

China Petroleum & Chemical Company Profile

China Petroleum & Chemical Corporation, an energy and chemical company, engages in oil and gas, and chemical operations in the People's Republic of China. It operates through five segments: Exploration and Production, Refining, Marketing and Distribution, Chemicals, and Corporate and Others.

Further Reading: What does an equal weight rating mean?

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Institutional Ownership by Quarter for China Petroleum & Chemical (NYSE:SNP)

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