Advisors Asset Management Inc. cut its stake in shares of China Petroleum & Chemical Corp. (NYSE:SNP) by 14.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 15,199 shares of the company’s stock after selling 2,594 shares during the period. Advisors Asset Management Inc.’s holdings in China Petroleum & Chemical Corp. were worth $1,094,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Ameriprise Financial Inc. boosted its stake in China Petroleum & Chemical Corp. by 86.5% in the second quarter. Ameriprise Financial Inc. now owns 9,212 shares of the company’s stock worth $665,000 after buying an additional 4,272 shares during the last quarter. Glenmede Trust Co. NA raised its position in shares of China Petroleum & Chemical Corp. by 2,090.0% in the second quarter. Glenmede Trust Co. NA now owns 8,081 shares of the company’s stock worth $581,000 after buying an additional 7,712 shares during the period. Cadence Capital Management LLC raised its position in shares of China Petroleum & Chemical Corp. by 9.3% in the second quarter. Cadence Capital Management LLC now owns 9,500 shares of the company’s stock worth $684,000 after buying an additional 809 shares during the period. SG Americas Securities LLC raised its position in shares of China Petroleum & Chemical Corp. by 131.0% in the second quarter. SG Americas Securities LLC now owns 8,387 shares of the company’s stock worth $604,000 after buying an additional 35,438 shares during the period. Finally, Emerald Acquisition Ltd. acquired a new position in shares of China Petroleum & Chemical Corp. during the second quarter worth about $2,061,000. 0.79% of the stock is currently owned by hedge funds and other institutional investors.

Shares of China Petroleum & Chemical Corp. (NYSE:SNP) traded down 0.17% during midday trading on Tuesday, hitting $68.99. 37,085 shares of the company’s stock traded hands. The stock has a market cap of $83.53 billion, a P/E ratio of 20.91 and a beta of 0.96. China Petroleum & Chemical Corp. has a 52 week low of $48.28 and a 52 week high of $75.53. The company has a 50 day moving average of $71.62 and a 200 day moving average of $69.08.

The firm also recently announced a dividend, which was paid on Monday, September 12th. Shareholders of record on Monday, September 12th were given a $1.045 dividend. This is a positive change from China Petroleum & Chemical Corp.’s previous dividend of $0.82. The ex-dividend date was Thursday, September 8th. China Petroleum & Chemical Corp.’s dividend payout ratio is presently 93.37%.

SNP has been the topic of a number of research reports. Zacks Investment Research lowered shares of China Petroleum & Chemical Corp. from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 8th. Macquarie upgraded shares of China Petroleum & Chemical Corp. from a “neutral” rating to an “outperform” rating in a research report on Monday, July 25th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $83.00.

About China Petroleum & Chemical Corp.

China Petroleum & Chemical Corporation is an energy and chemical company. The Company is engaged in oil and gas, and chemical operations in the People’s Republic of China (the PRC). The Company’s segments include exploration and production segment, refining segment, marketing and distribution segment, chemicals segment, and corporate and others.

5 Day Chart for NYSE:SNP

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