China Petroleum & Chemical Corporation (SNP) Upgraded to “Buy” by ValuEngine

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

Other equities analysts have also recently issued reports about the company. Citigroup Inc. upgraded China Petroleum & Chemical Corporation from a neutral rating to a buy rating in a research note on Tuesday, August 29th. Mizuho upgraded China Petroleum & Chemical Corporation from a neutral rating to a buy rating in a research note on Tuesday, August 8th. Jefferies Group LLC cut China Petroleum & Chemical Corporation from a buy rating to a hold rating in a research note on Monday, May 15th. Sanford C. Bernstein upgraded China Petroleum & Chemical Corporation from a market perform rating to an outperform rating in a research note on Thursday, July 6th. Finally, BidaskClub upgraded China Petroleum & Chemical Corporation from a strong sell rating to a sell rating in a research note on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. China Petroleum & Chemical Corporation presently has an average rating of Hold and an average price target of $89.00.

Shares of China Petroleum & Chemical Corporation (NYSE SNP) opened at 80.06 on Monday. The firm has a market cap of $96.93 billion, a PE ratio of 11.77 and a beta of 1.16. The firm’s 50-day moving average is $75.55 and its 200-day moving average is $78.89. China Petroleum & Chemical Corporation has a 12-month low of $67.82 and a 12-month high of $84.88.

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

Several institutional investors have recently added to or reduced their stakes in the company. U S Global Investors Inc. boosted its stake in shares of China Petroleum & Chemical Corporation by 435.0% during the 2nd quarter. U S Global Investors Inc. now owns 17,656 shares of the oil and gas company’s stock valued at $1,388,000 after buying an additional 14,356 shares during the last quarter. Assetmark Inc. boosted its stake in shares of China Petroleum & Chemical Corporation by 4.4% during the 2nd quarter. Assetmark Inc. now owns 231,105 shares of the oil and gas company’s stock valued at $18,165,000 after buying an additional 9,743 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of China Petroleum & Chemical Corporation by 52.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 404,796 shares of the oil and gas company’s stock valued at $31,817,000 after buying an additional 139,206 shares during the last quarter. State Street Corp boosted its stake in shares of China Petroleum & Chemical Corporation by 39.9% during the 2nd quarter. State Street Corp now owns 56,287 shares of the oil and gas company’s stock valued at $4,424,000 after buying an additional 16,053 shares during the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of China Petroleum & Chemical Corporation by 7.0% during the 2nd quarter. Royal Bank of Canada now owns 194,400 shares of the oil and gas company’s stock valued at $15,281,000 after buying an additional 12,715 shares during the last quarter. Institutional investors own 0.76% of the company’s stock.

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.

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