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StockNews.com Upgrades China Petroleum & Chemical (NYSE:SNP) to "Buy"

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StockNews.com upgraded shares of China Petroleum & Chemical (NYSE:SNP – Get Rating) from a hold rating to a buy rating in a report released on Monday morning.

SNP has been the subject of several other reports. The Goldman Sachs Group downgraded China Petroleum & Chemical from a neutral rating to a sell rating and set a $41.09 price target for the company. in a report on Sunday, June 19th. Citigroup cut China Petroleum & Chemical from a buy rating to a sell rating in a research report on Monday, May 23rd.

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China Petroleum & Chemical Stock Up 0.4 %

Shares of SNP stock opened at $45.67 on Monday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.53 and a current ratio of 0.93. The stock's 50 day simple moving average is $47.44 and its 200 day simple moving average is $49.18. The company has a market capitalization of $55.29 billion, a price-to-earnings ratio of 4.69, a PEG ratio of 1.49 and a beta of 0.71. China Petroleum & Chemical has a twelve month low of $40.60 and a twelve month high of $55.03.

China Petroleum & Chemical (NYSE:SNP – Get Rating) last announced its quarterly earnings results on Friday, April 29th. The oil and gas company reported $2.95 EPS for the quarter. The business had revenue of $121.52 billion for the quarter. China Petroleum & Chemical had a return on equity of 8.23% and a net margin of 2.58%. As a group, research analysts predict that China Petroleum & Chemical will post 9.49 EPS for the current year.

Institutional Investors Weigh In On China Petroleum & Chemical

Several hedge funds have recently modified their holdings of the company. DGS Capital Management LLC bought a new position in shares of China Petroleum & Chemical in the 4th quarter worth about $504,000. Qube Research & Technologies Ltd purchased a new position in China Petroleum & Chemical in the fourth quarter valued at approximately $414,000. Cambria Investment Management L.P. lifted its position in shares of China Petroleum & Chemical by 11.6% during the fourth quarter. Cambria Investment Management L.P. now owns 9,399 shares of the oil and gas company's stock worth $437,000 after acquiring an additional 980 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of China Petroleum & Chemical by 139.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 26,159 shares of the oil and gas company's stock worth $1,217,000 after acquiring an additional 15,212 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of China Petroleum & Chemical by 23.7% in the fourth quarter. American Century Companies Inc. now owns 43,059 shares of the oil and gas company's stock worth $2,003,000 after purchasing an additional 8,243 shares during the period. Institutional investors and hedge funds own 0.56% of the company's stock.

China Petroleum & Chemical Company Profile

(Get Rating)

China Petroleum & Chemical Corporation, an energy and chemical company, engages in the oil and gas and chemical operations in Mainland China, Singapore, and internationally. It operates through five segments: Exploration and Production, Refining, Marketing and Distribution, Chemicals, and Corporate and Others.

Further Reading

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