Earnest Partners LLC purchased a new position in Sinopec (NYSE:SNP) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,559 shares of the oil and gas company’s stock, valued at approximately $114,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quantbot Technologies LP lifted its stake in shares of Sinopec by 29.4% in the 3rd quarter. Quantbot Technologies LP now owns 4,619 shares of the oil and gas company’s stock valued at $349,000 after purchasing an additional 1,049 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Sinopec by 18.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 6,885 shares of the oil and gas company’s stock valued at $522,000 after buying an additional 1,089 shares during the period. BNP Paribas Arbitrage SA raised its holdings in shares of Sinopec by 5.3% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 28,307 shares of the oil and gas company’s stock valued at $2,145,000 after buying an additional 1,427 shares during the period. Thomas White International Ltd. raised its holdings in shares of Sinopec by 3.4% during the 4th quarter. Thomas White International Ltd. now owns 57,527 shares of the oil and gas company’s stock valued at $4,221,000 after buying an additional 1,891 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Sinopec during the 3rd quarter valued at about $218,000. 0.97% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently commented on the company. Macquarie upgraded Sinopec from a “neutral” rating to an “outperform” rating in a report on Monday, April 2nd. ValuEngine upgraded Sinopec from a “hold” rating to a “buy” rating in a report on Wednesday, January 3rd. Zacks Investment Research downgraded Sinopec from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Nomura upgraded Sinopec from a “neutral” rating to a “buy” rating in a report on Thursday, March 29th. Finally, HSBC downgraded Sinopec from a “buy” rating to a “hold” rating in a report on Tuesday, January 23rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $97.00.
Shares of SNP traded down $0.58 during mid-day trading on Friday, hitting $91.03. The stock had a trading volume of 146,419 shares, compared to its average volume of 205,020. The firm has a market cap of $110,913.33, a price-to-earnings ratio of 16.34, a PEG ratio of 2.05 and a beta of 1.29. The company has a current ratio of 0.91, a quick ratio of 0.59 and a debt-to-equity ratio of 0.12. Sinopec has a fifty-two week low of $69.60 and a fifty-two week high of $92.60.
The company also recently announced a Semi-Annual dividend, which will be paid on Thursday, June 21st. Stockholders of record on Friday, May 25th will be given a $4.568 dividend. The ex-dividend date is Thursday, May 24th. Sinopec’s payout ratio is 63.73%.
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China Petroleum & Chemical Corporation is a China-based energy and chemical company. The Company’s segments include Exploration and Development segment, Refining segment, Marketing and Distribution segment, Chemicals segment, and Corporate and Others segment. Exploration and Development segment explores and develops oil fields, as well as produces crude oil and natural gas.
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