China Petroleum & Chemical Corp. (NYSE:SNP) Given Consensus Recommendation of “Buy” by Brokerages

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China Petroleum & Chemical Corp. (NYSE:SNP) has been assigned a consensus rating of “Buy” from the seven ratings firms that are currently covering the company. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $83.00.
Several equities analysts recently weighed in on SNP shares. Zacks Investment Research upgraded shares of China Petroleum & Chemical Corp. from a “hold” rating to a “strong-buy” rating and set a $83.00 target price on the stock in a report on Friday, August 12th. Macquarie upgraded shares of China Petroleum & Chemical Corp. from a “neutral” rating to an “outperform” rating in a report on Monday, July 25th.
A number of large investors have recently added to or reduced their stakes in SNP. UBS Group AG increased its stake in China Petroleum & Chemical Corp. by 0.5% in the first quarter. UBS Group AG now owns 86,109 shares of the company’s stock valued at $5,610,000 after buying an additional 424 shares during the period. Royal Bank of Canada increased its stake in China Petroleum & Chemical Corp. by 8.7% in the first quarter. Royal Bank of Canada now owns 196,006 shares of the company’s stock valued at $12,770,000 after buying an additional 15,677 shares during the period. Envestnet Asset Management Inc. increased its stake in China Petroleum & Chemical Corp. by 15.5% in the first quarter. Envestnet Asset Management Inc. now owns 5,703 shares of the company’s stock valued at $372,000 after buying an additional 764 shares during the period. Eqis Capital Management Inc. increased its stake in China Petroleum & Chemical Corp. by 33.1% in the first quarter. Eqis Capital Management Inc. now owns 18,024 shares of the company’s stock valued at $1,174,000 after buying an additional 4,487 shares during the period. Finally, World Asset Management Inc increased its stake in China Petroleum & Chemical Corp. by 8.3% in the second quarter. World Asset Management Inc now owns 15,789 shares of the company’s stock valued at $1,137,000 after buying an additional 1,212 shares during the period. 0.79% of the stock is currently owned by hedge funds and other institutional investors.

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China Petroleum & Chemical Corp. (NYSE:SNP) traded up 1.4313% during trading on Thursday, reaching $69.0747. The company had a trading volume of 35,785 shares. The stock has a 50 day moving average price of $71.92 and a 200-day moving average price of $68.83. China Petroleum & Chemical Corp. has a 52-week low of $48.28 and a 52-week high of $75.53. The company has a market capitalization of $83.63 billion, a PE ratio of 20.9317 and a beta of 0.96.
The company also recently declared a dividend, which was paid on Monday, September 12th. Investors of record on Monday, September 12th were paid a dividend of $1.045 per share. This is an increase from China Petroleum & Chemical Corp.’s previous dividend of $0.82. The ex-dividend date was Thursday, September 8th. China Petroleum & Chemical Corp.’s payout ratio is 93.37%.
About China Petroleum & Chemical Corp.
China Petroleum & Chemical Corporation is an energy and chemical company. The Company is engaged in oil and gas, and chemical operations in the People’s Republic of China (the PRC). The Company’s segments include exploration and production segment, refining segment, marketing and distribution segment, chemicals segment, and corporate and others.

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