Citigroup Inc. upgraded shares of China Petroleum & Chemical Corporation (NYSE:SNP) from a neutral rating to a buy rating in a report published on Tuesday morning, The Fly reports.

A number of other equities research analysts have also issued reports on the stock. Jefferies Group LLC lowered shares of China Petroleum & Chemical Corporation from a buy rating to a hold rating in a report on Monday, May 15th. Sanford C. Bernstein raised shares of China Petroleum & Chemical Corporation from a market perform rating to an outperform rating in a report on Thursday, July 6th. BidaskClub lowered shares of China Petroleum & Chemical Corporation from a sell rating to a strong sell rating in a report on Friday, June 30th. Zacks Investment Research lowered shares of China Petroleum & Chemical Corporation from a strong-buy rating to a hold rating in a report on Friday, May 12th. Finally, Mizuho raised shares of China Petroleum & Chemical Corporation from a neutral rating to a buy rating in a report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $89.00.

China Petroleum & Chemical Corporation (NYSE:SNP) opened at 77.62 on Tuesday. The stock has a market cap of $93.98 billion, a PE ratio of 11.41 and a beta of 1.16. China Petroleum & Chemical Corporation has a 1-year low of $67.82 and a 1-year high of $84.88. The firm has a 50-day moving average of $75.59 and a 200-day moving average of $78.93.

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The firm also recently announced a special dividend, which will be paid on Friday, October 6th. Investors of record on Tuesday, September 19th will be issued a $1.5115 dividend. This represents a dividend yield of 6.63%. The ex-dividend date is Monday, September 18th. China Petroleum & Chemical Corporation’s dividend payout ratio (DPR) is presently 50.00%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Matthews International Capital Management LLC acquired a new position in China Petroleum & Chemical Corporation during the first quarter worth $14,509,000. BT Investment Management Ltd acquired a new position in China Petroleum & Chemical Corporation during the second quarter worth $11,072,000. Arrowstreet Capital Limited Partnership raised its position in China Petroleum & Chemical Corporation by 52.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 404,796 shares of the oil and gas company’s stock worth $31,817,000 after buying an additional 139,206 shares during the period. Renaissance Technologies LLC raised its position in China Petroleum & Chemical Corporation by 34.8% in the second quarter. Renaissance Technologies LLC now owns 533,600 shares of the oil and gas company’s stock worth $41,941,000 after buying an additional 137,870 shares during the period. Finally, Manning & Napier Advisors LLC acquired a new position in China Petroleum & Chemical Corporation during the second quarter worth $9,683,000. 0.76% of the stock is owned by hedge funds and other institutional investors.

About China Petroleum & Chemical Corporation

China Petroleum & Chemical Corporation is a China-based energy and chemical company. The Company’s segments include Exploration and Development segment, Refining segment, Marketing and Distribution segment, Chemicals segment, and Corporate and Others segment. Exploration and Development segment explores and develops oil fields, as well as produces crude oil and natural gas.

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