China Petroleum & Chemical Co. (NYSE:SNP) Shares Sold by Connectus Wealth LLC

Connectus Wealth LLC reduced its position in shares of China Petroleum & Chemical Co. (NYSE:SNP – Get Rating) by 36.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,215 shares of the oil and gas company’s stock after selling 10,440 shares during the period. Connectus Wealth LLC’s holdings in China Petroleum & Chemical were worth $849,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. raised its holdings in China Petroleum & Chemical by 36.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 124,492 shares of the oil and gas company’s stock valued at $5,790,000 after buying an additional 33,290 shares during the period. Envestnet Asset Management Inc. raised its holdings in China Petroleum & Chemical by 139.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 26,159 shares of the oil and gas company’s stock valued at $1,217,000 after buying an additional 15,212 shares during the period. Legacy Wealth Asset Management LLC purchased a new position in China Petroleum & Chemical in the fourth quarter valued at approximately $585,000. Qube Research & Technologies Ltd purchased a new position in China Petroleum & Chemical in the fourth quarter valued at approximately $414,000. Finally, American Century Companies Inc. raised its holdings in China Petroleum & Chemical by 23.7% in the fourth quarter. American Century Companies Inc. now owns 43,059 shares of the oil and gas company’s stock valued at $2,003,000 after buying an additional 8,243 shares during the period. 0.56% of the stock is currently owned by hedge funds and other institutional investors.

China Petroleum & Chemical Trading Up 0.7 %

SNP opened at $45.23 on Friday. The firm has a market capitalization of $54.76 billion, a P/E ratio of 4.65, a P/E/G ratio of 1.50 and a beta of 0.70. The firm’s 50 day moving average is $46.35 and its 200-day moving average is $48.84. China Petroleum & Chemical Co. has a 52-week low of $40.60 and a 52-week high of $55.03. The company has a quick ratio of 0.53, a current ratio of 0.93 and a debt-to-equity ratio of 0.11.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SNP. Citigroup lowered shares of China Petroleum & Chemical from a “buy” rating to a “sell” rating in a research note on Monday, May 23rd. The Goldman Sachs Group lowered shares of China Petroleum & Chemical from a “neutral” rating to a “sell” rating and set a $41.09 price objective on the stock. in a research note on Sunday, June 19th. Finally, StockNews.com upgraded shares of China Petroleum & Chemical from a “hold” rating to a “buy” rating in a research note on Saturday.

China Petroleum & Chemical Company Profile

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China Petroleum & Chemical Corporation, an energy and chemical company, engages in the oil and gas and chemical operations in Mainland China, Singapore, and internationally. It operates through five segments: Exploration and Production, Refining, Marketing and Distribution, Chemicals, and Corporate and Others.