BlackRock Inc. Grows Stake in China Petroleum & Chemical Corp (NYSE:SNP)

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BlackRock Inc. grew its position in China Petroleum & Chemical Corp (NYSE:SNP) by 19.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 574,255 shares of the oil and gas company’s stock after purchasing an additional 93,001 shares during the quarter. BlackRock Inc.’s holdings in China Petroleum & Chemical were worth $39,164,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its holdings in China Petroleum & Chemical by 17.8% in the second quarter. Envestnet Asset Management Inc. now owns 73,535 shares of the oil and gas company’s stock worth $5,015,000 after purchasing an additional 11,131 shares during the last quarter. United Capital Financial Advisers LLC purchased a new position in China Petroleum & Chemical in the second quarter worth $233,000. Thomas White International Ltd. grew its holdings in China Petroleum & Chemical by 1.2% in the second quarter. Thomas White International Ltd. now owns 75,695 shares of the oil and gas company’s stock worth $5,162,000 after purchasing an additional 908 shares during the last quarter. Renaissance Technologies LLC grew its holdings in China Petroleum & Chemical by 3.8% in the second quarter. Renaissance Technologies LLC now owns 1,889,600 shares of the oil and gas company’s stock worth $128,871,000 after purchasing an additional 68,360 shares during the last quarter. Finally, Whitener Capital Management Inc. lifted 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 worth $213,000 after buying an additional 2,075 shares during the period. 0.97% of the stock is currently owned by institutional investors and hedge funds.

NYSE:SNP opened at $59.88 on Friday. China Petroleum & Chemical Corp has a 12 month low of $57.21 and a 12 month high of $88.70. The firm has a fifty day simple moving average of $59.33 and a 200-day simple moving average of $67.31. The company has a current ratio of 0.90, a quick ratio of 0.53 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $69.42 billion, a P/E ratio of 8.37, a PEG ratio of 3.55 and a beta of 1.48.

The business also recently disclosed a — dividend, which was paid on Thursday, October 3rd. Stockholders of record on Monday, September 9th were paid a dividend of $1.5295 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a dividend yield of 9.7%. China Petroleum & Chemical’s payout ratio is currently 37.90%.

Several research firms have recently commented on SNP. Credit Suisse Group upgraded shares of China Petroleum & Chemical from a “neutral” rating to an “outperform” rating in a research note on Tuesday, September 10th. Jefferies Financial Group downgraded shares of China Petroleum & Chemical from a “buy” rating to a “hold” rating in a research note on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. China Petroleum & Chemical currently has a consensus rating of “Hold” and an average price target 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.

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

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