PNC Financial Services Group Inc. increased its position in China Petroleum & Chemical Corp (NYSE:SNP) by 49.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,344 shares of the oil and gas company’s stock after purchasing an additional 1,771 shares during the quarter. PNC Financial Services Group Inc.’s holdings in China Petroleum & Chemical were worth $479,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in SNP. Jane Street Group LLC increased its position in China Petroleum & Chemical by 720.0% in the first quarter. Jane Street Group LLC now owns 152,297 shares of the oil and gas company’s stock worth $13,369,000 after purchasing an additional 133,724 shares during the period. Northern Trust Corp grew its position in shares of China Petroleum & Chemical by 37.1% during the 1st quarter. Northern Trust Corp now owns 352,662 shares of the oil and gas company’s stock worth $31,204,000 after buying an additional 95,402 shares during the period. Wells Fargo & Company MN grew its position in shares of China Petroleum & Chemical by 515.2% during the 1st quarter. Wells Fargo & Company MN now owns 111,489 shares of the oil and gas company’s stock worth $9,865,000 after buying an additional 93,368 shares during the period. Royal Bank of Canada grew its position in shares of China Petroleum & Chemical by 19.1% during the 1st quarter. Royal Bank of Canada now owns 322,910 shares of the oil and gas company’s stock worth $28,572,000 after buying an additional 51,676 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of China Petroleum & Chemical by 3,248.8% during the 1st quarter. JPMorgan Chase & Co. now owns 31,010 shares of the oil and gas company’s stock worth $2,744,000 after buying an additional 30,084 shares during the period. Hedge funds and other institutional investors own 1.04% of the company’s stock.

China Petroleum & Chemical stock opened at $97.72 on Tuesday. The stock has a market cap of $117.60 billion, a PE ratio of 17.54, a P/E/G ratio of 0.65 and a beta of 1.34. China Petroleum & Chemical Corp has a 1 year low of $69.60 and a 1 year high of $105.61. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.99 and a quick ratio of 0.60.

China Petroleum & Chemical (NYSE:SNP) last posted its earnings results on Sunday, August 26th. The oil and gas company reported $2.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $1.14. China Petroleum & Chemical had a return on equity of 7.14% and a net margin of 2.71%. The company had revenue of $106.54 billion during the quarter. equities analysts forecast that China Petroleum & Chemical Corp will post 9.59 EPS for the current year.

The firm also recently disclosed a special dividend, which will be paid on Friday, September 28th. Stockholders of record on Thursday, September 6th will be issued a dividend of $2.3455 per share. This represents a dividend yield of 12.6%. The ex-dividend date is Wednesday, September 5th. This is a boost from China Petroleum & Chemical’s previous special dividend of $1.51. China Petroleum & Chemical’s payout ratio is 75.04%.

Several equities analysts have recently issued reports on SNP shares. Zacks Investment Research upgraded China Petroleum & Chemical from a “hold” rating to a “strong-buy” rating and set a $106.00 target price for the company in a research report on Thursday, May 31st. ValuEngine upgraded China Petroleum & Chemical from a “hold” rating to a “buy” rating in a research report on Tuesday, July 24th. Finally, Goldman Sachs Group lowered China Petroleum & Chemical from a “buy” rating to a “neutral” rating in a research report on Monday, June 4th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $106.00.

About China Petroleum & Chemical

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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