Matthews International Capital Management LLC trimmed its position in shares of China Petroleum & Chemical Corp (NYSE:SNP) by 47.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 86,400 shares of the oil and gas company’s stock after selling 78,600 shares during the period. China Petroleum & Chemical accounts for approximately 0.3% of Matthews International Capital Management LLC’s holdings, making the stock its 27th biggest position. Matthews International Capital Management LLC’s holdings in China Petroleum & Chemical were worth $6,869,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. U S Global Investors Inc. acquired a new position in shares of China Petroleum & Chemical in the 4th quarter valued at $25,000. Financial Gravity Companies Inc. purchased a new position in China Petroleum & Chemical in the 4th quarter worth approximately $27,000. We Are One Seven LLC purchased a new position in China Petroleum & Chemical in the 4th quarter worth approximately $58,000. Whitener Capital Management Inc. increased its stake in China Petroleum & Chemical by 75.0% in the 4th quarter. Whitener Capital Management Inc. now owns 1,050 shares of the oil and gas company’s stock worth $74,000 after purchasing an additional 450 shares during the period. Finally, GQG Partners LLC purchased a new position in China Petroleum & Chemical in the 4th quarter worth approximately $97,000. 1.00% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE SNP traded down $0.50 during mid-day trading on Wednesday, hitting $71.68. 15,089 shares of the stock traded hands, compared to its average volume of 142,747. The company has a quick ratio of 0.55, a current ratio of 0.94 and a debt-to-equity ratio of 0.32. China Petroleum & Chemical Corp has a 52 week low of $69.02 and a 52 week high of $104.88. The firm has a market capitalization of $87.16 billion, a PE ratio of 8.43, a P/E/G ratio of 1.39 and a beta of 1.54.

The company also recently declared a semiannual dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be given a dividend of $3.8715 per share. The ex-dividend date is Friday, May 31st. This is a positive change from China Petroleum & Chemical’s previous semiannual dividend of $2.47. This represents a dividend yield of 9.72%.

Several research firms have recently issued reports on SNP. Zacks Investment Research cut China Petroleum & Chemical from a “hold” rating to a “sell” rating in a research note on Wednesday, April 3rd. Morgan Stanley cut China Petroleum & Chemical from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, March 6th. ValuEngine cut China Petroleum & Chemical from a “sell” rating to a “strong sell” rating in a research note on Wednesday, April 24th. Finally, Citigroup raised China Petroleum & Chemical from a “neutral” rating to a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $94.00.

ILLEGAL ACTIVITY WARNING: This article was first posted by Watch List News and is the sole property of of Watch List News. If you are reading this article on another domain, it was stolen and reposted in violation of US and international copyright & trademark law. The legal version of this article can be read at https://www.watchlistnews.com/matthews-international-capital-management-llc-has-6-87-million-holdings-in-china-petroleum-chemical-corp-snp/3011250.html.

China Petroleum & Chemical Company 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.

Featured Story: Lock-Up Period Expiration

Want to see what other hedge funds are holding SNP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for China Petroleum & Chemical Corp (NYSE:SNP).

Institutional Ownership by Quarter for China Petroleum & Chemical (NYSE:SNP)

Receive News & Ratings for China Petroleum & Chemical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for China Petroleum & Chemical and related companies with MarketBeat.com's FREE daily email newsletter.