Sinopec (SNP) Lifted to “Buy” at Jefferies Group

Jefferies Group upgraded shares of Sinopec (NYSE:SNP) from a hold rating to a buy rating in a research note released on Monday, MarketBeat Ratings reports.

A number of other research firms also recently issued reports on SNP. Zacks Investment Research raised shares of Sinopec from a hold rating to a buy rating and set a $97.00 price target for the company in a research note on Tuesday, April 3rd. HSBC downgraded shares of Sinopec from a buy rating to a hold rating in a research note on Tuesday, January 23rd. Nomura raised shares of Sinopec from a neutral rating to a buy rating in a research note on Thursday, March 29th. ValuEngine raised shares of Sinopec from a buy rating to a strong-buy rating in a research note on Tuesday, April 3rd. Finally, Macquarie downgraded shares of Sinopec from an outperform rating to a neutral rating in a research note on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Sinopec has a consensus rating of Buy and a consensus target price of $97.00.

SNP stock opened at $96.79 on Monday. Sinopec has a 1 year low of $69.60 and a 1 year high of $97.11. The stock has a market capitalization of $113,407.39, a P/E ratio of 17.38, a P/E/G ratio of 2.10 and a beta of 1.29. The company has a quick ratio of 0.59, a current ratio of 0.91 and a debt-to-equity ratio of 0.12.

The firm also recently announced a Semi-Annual dividend, which will be paid on Thursday, June 21st. Shareholders of record on Friday, May 25th will be paid a dividend of $4.568 per share. The ex-dividend date is Thursday, May 24th. Sinopec’s dividend payout ratio is 63.73%.

Several hedge funds and other institutional investors have recently made changes to their positions in SNP. Renaissance Technologies LLC grew its holdings in shares of Sinopec by 39.4% during the fourth quarter. Renaissance Technologies LLC now owns 1,354,930 shares of the oil and gas company’s stock valued at $99,411,000 after buying an additional 382,700 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Sinopec by 51.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,090,125 shares of the oil and gas company’s stock valued at $79,982,000 after buying an additional 368,038 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Sinopec by 25.0% during the fourth quarter. BlackRock Inc. now owns 858,913 shares of the oil and gas company’s stock valued at $63,018,000 after buying an additional 171,542 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Sinopec by 3.6% during the fourth quarter. Millennium Management LLC now owns 438,278 shares of the oil and gas company’s stock valued at $32,156,000 after buying an additional 15,034 shares during the last quarter. Finally, BT Investment Management Ltd grew its holdings in shares of Sinopec by 68.2% during the fourth quarter. BT Investment Management Ltd now owns 232,517 shares of the oil and gas company’s stock valued at $17,060,000 after buying an additional 94,248 shares during the last quarter. 0.98% of the stock is owned by institutional investors and hedge funds.

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About Sinopec

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.

Analyst Recommendations for Sinopec (NYSE:SNP)

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