Nordea Investment Management AB Lowers Position in China Petroleum & Chemical Corp (NYSE:SNP)

Nordea Investment Management AB decreased its holdings in shares of China Petroleum & Chemical Corp (NYSE:SNP) by 6.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,389 shares of the oil and gas company’s stock after selling 2,856 shares during the period. Nordea Investment Management AB’s holdings in China Petroleum & Chemical were worth $3,132,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. U S Global Investors Inc. bought a new position in shares of China Petroleum & Chemical in the 4th quarter worth approximately $25,000. McIlrath & Eck LLC bought a new position in shares of China Petroleum & Chemical in the 1st quarter worth approximately $32,000. GQG Partners LLC bought a new position in shares of China Petroleum & Chemical in the 4th quarter worth approximately $97,000. NumerixS Investment Technologies Inc raised its position in shares of China Petroleum & Chemical by 366.7% in the 4th quarter. NumerixS Investment Technologies Inc now owns 1,400 shares of the oil and gas company’s stock worth $98,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Advisors Preferred LLC bought a new position in shares of China Petroleum & Chemical in the 1st quarter worth approximately $112,000. 0.97% of the stock is owned by institutional investors and hedge funds.

SNP stock traded up $0.66 on Thursday, reaching $65.64. 161,000 shares of the company traded hands, compared to its average volume of 166,581. China Petroleum & Chemical Corp has a one year low of $64.33 and a one year high of $102.47. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.55 and a current ratio of 0.94. The company has a market cap of $78.67 billion, a P/E ratio of 9.18, a P/E/G ratio of 3.30 and a beta of 1.46. The firm’s fifty day simple moving average is $66.71.

China Petroleum & Chemical (NYSE:SNP) last posted its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported $1.76 earnings per share for the quarter. China Petroleum & Chemical had a return on equity of 9.06% and a net margin of 2.12%. The company had revenue of $106.34 billion during the quarter. As a group, sell-side analysts forecast that China Petroleum & Chemical Corp will post 7.21 earnings per share for the current fiscal year.

Several research analysts have recently issued reports on the company. TheStreet lowered Zumiez from a “b” rating to a “c+” rating in a research report on Thursday, June 6th. Citigroup raised China Petroleum & Chemical from a “neutral” rating to a “buy” rating in a research report on Tuesday, May 14th. ValuEngine lowered Viewray from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Zacks Investment Research raised Triple-S Management from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research report on Monday, April 29th. Finally, Jefferies Financial Group assumed coverage on in a research report on Wednesday, July 3rd. They set an “underperform” rating for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $94.00.

About China Petroleum & Chemical

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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