Royal Bank of Canada Acquires 51,676 Shares of China Petroleum & Chemical Corp (SNP)

Royal Bank of Canada lifted its holdings in shares of China Petroleum & Chemical Corp (NYSE:SNP) by 19.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 322,910 shares of the oil and gas company’s stock after buying an additional 51,676 shares during the quarter. Royal Bank of Canada’s holdings in China Petroleum & Chemical were worth $28,572,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the stock. Manning & Napier Group LLC lifted its stake in shares of China Petroleum & Chemical by 0.8% during the 1st quarter. Manning & Napier Group LLC now owns 92,391 shares of the oil and gas company’s stock valued at $8,174,000 after buying an additional 706 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in China Petroleum & Chemical by 156.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,348 shares of the oil and gas company’s stock worth $119,000 after acquiring an additional 823 shares during the period. Signaturefd LLC bought a new stake in China Petroleum & Chemical during the 1st quarter worth approximately $118,000. Earnest Partners LLC bought a new stake in China Petroleum & Chemical during the 4th quarter worth approximately $114,000. Finally, BTC Capital Management Inc. bought a new stake in China Petroleum & Chemical during the 1st quarter worth approximately $202,000. Institutional investors own 1.07% of the company’s stock.

A number of analysts recently weighed in on SNP shares. Zacks Investment Research raised shares of China Petroleum & Chemical from a “hold” rating to a “buy” rating and set a $97.00 target price on the stock in a report on Tuesday, April 3rd. Macquarie raised shares of China Petroleum & Chemical from a “neutral” rating to an “outperform” rating in a report on Monday, April 2nd. Goldman Sachs Group lowered shares of China Petroleum & Chemical from a “buy” rating to a “neutral” rating in a report on Monday, June 4th. They noted that the move was a valuation call. Nomura raised shares of China Petroleum & Chemical from a “neutral” rating to a “buy” rating in a report on Thursday, March 29th. Finally, Jefferies Financial Group raised shares of China Petroleum & Chemical from a “hold” rating to a “buy” rating in a report on Monday, April 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $106.00.

Shares of China Petroleum & Chemical opened at $88.75 on Friday, Marketbeat Ratings reports. China Petroleum & Chemical Corp has a one year low of $69.60 and a one year high of $105.61. The firm has a market capitalization of $108.15 billion, a PE ratio of 15.93, a P/E/G ratio of 0.70 and a beta of 1.33. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.62 and a current ratio of 0.98.

China Petroleum & Chemical (NYSE:SNP) last released its earnings results on Thursday, April 26th. The oil and gas company reported $2.50 earnings per share for the quarter. The business had revenue of $95.17 billion for the quarter. research analysts expect that China Petroleum & Chemical Corp will post 9.91 EPS for the current fiscal year.

China Petroleum & Chemical Profile

China Petroleum & Chemical Corporation, an energy and chemical company, engages in the oil and gas, and chemical operations and businesses 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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