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China Petroleum & Chemical (NYSE:SNP) Downgraded by StockNews.com to Hold

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StockNews.com lowered shares of China Petroleum & Chemical (NYSE:SNP – Get Rating) from a buy rating to a hold rating in a research note released on Friday morning.

A number of other analysts have also recently commented on the company. Citigroup cut China Petroleum & Chemical from a buy rating to a sell rating in a research report on Monday, May 23rd. The Goldman Sachs Group cut China Petroleum & Chemical from a neutral rating to a sell rating and set a $41.09 price objective on the stock. in a research report on Sunday, June 19th.

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China Petroleum & Chemical Stock Performance

Shares of SNP opened at $46.93 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.93 and a debt-to-equity ratio of 0.11. The business's 50 day moving average price is $46.99 and its 200-day moving average price is $49.06. China Petroleum & Chemical has a 52 week low of $40.60 and a 52 week high of $55.03. The stock has a market cap of $56.82 billion, a P/E ratio of 4.82, a P/E/G ratio of 1.49 and a beta of 0.71.

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

Hedge Funds Weigh In On China Petroleum & Chemical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fieldpoint Private Securities LLC lifted its position in China Petroleum & Chemical by 86.7% in the 1st quarter. Fieldpoint Private Securities LLC now owns 700 shares of the oil and gas company's stock valued at $35,000 after acquiring an additional 325 shares in the last quarter. Mizuho Securities Co. Ltd. lifted its holdings in shares of China Petroleum & Chemical by 181.8% during the 2nd quarter. Mizuho Securities Co. Ltd. now owns 1,240 shares of the oil and gas company's stock valued at $58,000 after buying an additional 800 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of China Petroleum & Chemical by 47.5% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,242 shares of the oil and gas company's stock valued at $63,000 after buying an additional 400 shares during the period. SG Americas Securities LLC bought a new position in shares of China Petroleum & Chemical during the 1st quarter valued at $179,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of China Petroleum & Chemical by 38.0% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,719 shares of the oil and gas company's stock valued at $184,000 after buying an additional 1,024 shares during the period. 0.56% of the stock is owned by institutional investors.

About China Petroleum & Chemical

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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.

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