Industry News

China Petroleum & Chemical (NYSE:SNP) Reaches New 12-Month Low at $58.00

By August 24, 2019 No Comments

China Petroleum & Chemical Corp (NYSE:SNP) reached a new 52-week low during trading on Friday . The stock traded as low as $58.00 and last traded at $58.22, with a volume of 98656 shares trading hands. The stock had previously closed at $58.91.

Several research firms recently issued reports on SNP. Citigroup raised shares of China Petroleum & Chemical from a “neutral” rating to a “buy” rating in a report on Tuesday, May 14th. Jefferies Financial Group lowered China Petroleum & Chemical from a “buy” rating to a “hold” rating in a research note on Wednesday, July 3rd. Zacks Investment Research upgraded China Petroleum & Chemical from a “sell” rating to a “hold” rating in a research note on Monday, April 29th. Finally, TheStreet lowered China Petroleum & Chemical from a “b” rating to a “c+” rating in a research note on Thursday, June 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. China Petroleum & Chemical presently has a consensus rating of “Hold” and a consensus price target of $94.00.

The stock has a 50 day simple moving average of $63.24 and a two-hundred day simple moving average of $73.36. The company has a market cap of $72.23 billion, a price-to-earnings ratio of 8.11, a price-to-earnings-growth ratio of 2.97 and a beta of 1.48. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.94 and a quick ratio of 0.55.

Several hedge funds have recently bought and sold shares of the stock. Pendal Group Ltd increased its holdings in China Petroleum & Chemical by 25.0% during the 2nd quarter. Pendal Group Ltd now owns 538,568 shares of the oil and gas company’s stock worth $38,025,000 after purchasing an additional 107,577 shares during the period. BlackRock Inc. increased its holdings in shares of China Petroleum & Chemical by 19.3% in the 2nd quarter. BlackRock Inc. now owns 574,255 shares of the oil and gas company’s stock valued at $39,164,000 after acquiring an additional 93,001 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of China Petroleum & Chemical by 3.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,889,600 shares of the oil and gas company’s stock valued at $128,871,000 after acquiring an additional 68,360 shares during the last quarter. Morgan Stanley increased its holdings in shares of China Petroleum & Chemical by 144.6% in the 2nd quarter. Morgan Stanley now owns 94,804 shares of the oil and gas company’s stock valued at $6,466,000 after acquiring an additional 56,048 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in shares of China Petroleum & Chemical by 121.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 69,775 shares of the oil and gas company’s stock valued at $4,759,000 after acquiring an additional 38,254 shares during the last quarter. Hedge funds and other institutional investors own 0.97% of the company’s stock.

China Petroleum & Chemical Company Profile (NYSE:SNP)

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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