Thornburg Investment Management Inc. lowered its holdings in China Petroleum & Chemical Corp (NYSE:SNP) by 51.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 202,792 shares of the oil and gas company’s stock after selling 210,759 shares during the period. Thornburg Investment Management Inc.’s holdings in China Petroleum & Chemical were worth $20,368,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in SNP. The Manufacturers Life Insurance Company increased its position in shares of China Petroleum & Chemical by 156.8% in the first 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 in the last quarter. LPL Financial LLC acquired a new stake in China Petroleum & Chemical during the 1st quarter valued at $907,000. Suntrust Banks Inc. acquired a new stake in China Petroleum & Chemical during the 1st quarter valued at $206,000. Fisher Asset Management LLC acquired a new stake in China Petroleum & Chemical during the 2nd quarter valued at $594,000. Finally, Bank of Montreal Can grew its holdings in China Petroleum & Chemical by 4.7% during the 2nd quarter. Bank of Montreal Can now owns 53,368 shares of the oil and gas company’s stock valued at $4,795,000 after purchasing an additional 2,416 shares in the last quarter. 1.05% of the stock is owned by institutional investors.
SNP traded up $0.22 during trading hours on Wednesday, reaching $87.03. 13,225 shares of the stock traded hands, compared to its average volume of 222,735. The firm has a market cap of $100.05 billion, a price-to-earnings ratio of 15.62, a PEG ratio of 0.54 and a beta of 1.49. China Petroleum & Chemical Corp has a fifty-two week low of $69.60 and a fifty-two week high of $105.61. The company has a current ratio of 0.99, a quick ratio of 0.64 and a debt-to-equity ratio of 0.12.
China Petroleum & Chemical (NYSE:SNP) last released its quarterly earnings results on Tuesday, October 30th. The oil and gas company reported $2.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.29 by ($0.18). China Petroleum & Chemical had a net margin of 2.88% and a return on equity of 8.18%. The firm had revenue of $113.57 billion for the quarter. On average, analysts forecast that China Petroleum & Chemical Corp will post 9.87 earnings per share for the current fiscal year.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of China Petroleum & Chemical from a “hold” rating to a “strong-buy” rating and set a $94.00 price target for the company in a report on Monday, October 29th. ValuEngine raised shares of China Petroleum & Chemical from a “hold” rating to a “buy” rating in a report on Tuesday, July 24th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. China Petroleum & Chemical currently has an average rating of “Buy” and a consensus price target of $94.00.
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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.
See Also: Cash Flow
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