StockNews.com Begins Coverage on China Petroleum & Chemical (NYSE:SNP)

StockNews.com initiated coverage on shares of China Petroleum & Chemical (NYSE:SNPGet Rating) in a report released on Tuesday morning. The firm issued a hold rating on the oil and gas company’s stock.

Other research analysts have also recently issued reports about the stock. The Goldman Sachs Group cut shares of China Petroleum & Chemical from a neutral rating to a sell rating and set a $41.09 price target on the stock. in a report on Sunday, June 19th. Citigroup cut shares of China Petroleum & Chemical from a buy rating to a sell rating in a report on Monday, May 23rd.

China Petroleum & Chemical Price Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 0.89 and a quick ratio of 0.53. China Petroleum & Chemical has a 1 year low of $40.60 and a 1 year high of $55.03. The company has a market capitalization of $55.28 billion, a PE ratio of 4.69, a price-to-earnings-growth ratio of 1.56 and a beta of 0.69. The company’s fifty day moving average price is $46.00 and its two-hundred day moving average price is $47.58.

China Petroleum & Chemical Cuts Dividend

The company also recently declared a Semi-Annual dividend, which will be paid on Thursday, October 6th. Shareholders of record on Friday, September 16th will be given a dividend of $2.103 per share. This represents a dividend yield of 14.7%. The ex-dividend date is Thursday, September 15th. China Petroleum & Chemical’s payout ratio is 43.27%.

Institutional Trading of China Petroleum & Chemical

Hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its position in shares of China Petroleum & Chemical by 234.8% during the second quarter. EverSource Wealth Advisors LLC now owns 616 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 432 shares during the last quarter. Fieldpoint Private Securities LLC raised its position in shares of China Petroleum & Chemical by 86.7% in the 1st quarter. Fieldpoint Private Securities LLC now owns 700 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 325 shares during the last quarter. Lindbrook Capital LLC raised its position in shares of China Petroleum & Chemical by 1,711.3% in the 2nd quarter. Lindbrook Capital LLC now owns 960 shares of the oil and gas company’s stock valued at $43,000 after purchasing an additional 907 shares during the last quarter. Clear Street Markets LLC purchased a new position in shares of China Petroleum & Chemical in the 2nd quarter valued at approximately $45,000. Finally, Quadrant Capital Group LLC raised its position in shares of China Petroleum & Chemical by 163.0% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,131 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 701 shares during the last quarter. 0.54% of the stock is owned by hedge funds and other institutional investors.

About China Petroleum & Chemical

(Get Rating)

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

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