China Petroleum & Chemical Corporation (SNP) Expected to Post Earnings of $0.97 Per Share

Brokerages forecast that China Petroleum & Chemical Corporation (NYSE:SNP) will report earnings per share (EPS) of $0.97 for the current quarter, Zacks reports. Zero analysts have issued estimates for China Petroleum & Chemical Corporation’s earnings. China Petroleum & Chemical Corporation posted earnings per share of $1.26 in the same quarter last year, which indicates a negative year over year growth rate of 23%. The company is expected to issue its next quarterly earnings results on Thursday, October 26th.

According to Zacks, analysts expect that China Petroleum & Chemical Corporation will report full year earnings of $5.55 per share for the current financial year, with EPS estimates ranging from $4.87 to $6.23. For the next fiscal year, analysts forecast that the company will post earnings of $5.01 per share, with EPS estimates ranging from $3.52 to $6.50. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover China Petroleum & Chemical Corporation.

A number of equities analysts have weighed in on the stock. Mizuho raised shares of China Petroleum & Chemical Corporation from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 8th. BidaskClub raised shares of China Petroleum & Chemical Corporation from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 22nd. Sanford C. Bernstein raised shares of China Petroleum & Chemical Corporation from a “market perform” rating to an “outperform” rating in a research report on Thursday, July 6th. Citigroup Inc. raised shares of China Petroleum & Chemical Corporation from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 29th. Finally, Jefferies Group LLC downgraded shares of China Petroleum & Chemical Corporation from a “buy” rating to a “hold” rating in a research report on Monday, May 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $89.00.

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Institutional investors and hedge funds have recently made changes to their positions in the stock. Sit Investment Associates Inc. bought a new stake in shares of China Petroleum & Chemical Corporation during the second quarter valued at approximately $204,000. PNC Financial Services Group Inc. increased its position in shares of China Petroleum & Chemical Corporation by 3.2% during the second quarter. PNC Financial Services Group Inc. now owns 3,078 shares of the oil and gas company’s stock valued at $241,000 after acquiring an additional 95 shares in the last quarter. U S Global Investors Inc bought a new stake in shares of China Petroleum & Chemical Corporation during the first quarter valued at approximately $269,000. Ronald Blue & Co. LLC increased its position in shares of China Petroleum & Chemical Corporation by 7.1% during the first quarter. Ronald Blue & Co. LLC now owns 3,388 shares of the oil and gas company’s stock valued at $276,000 after acquiring an additional 226 shares in the last quarter. Finally, Quantbot Technologies LP increased its position in shares of China Petroleum & Chemical Corporation by 1,393.7% during the second quarter. Quantbot Technologies LP now owns 3,570 shares of the oil and gas company’s stock valued at $280,000 after acquiring an additional 3,331 shares in the last quarter. 0.76% of the stock is owned by institutional investors.

Shares of China Petroleum & Chemical Corporation (SNP) traded up 2.00% during mid-day trading on Friday, reaching $79.92. The company’s stock had a trading volume of 238,910 shares. China Petroleum & Chemical Corporation has a 12 month low of $67.82 and a 12 month high of $84.88. The company has a market cap of $96.76 billion, a P/E ratio of 11.75 and a beta of 1.16. The company has a 50-day moving average of $75.55 and a 200-day moving average of $78.90.

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

China Petroleum & Chemical Corporation Company Profile

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.

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Earnings History and Estimates for China Petroleum & Chemical Corporation (NYSE:SNP)

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