China Petroleum & Chemical Co. (NYSE:SNP – Get Rating) declared a semi-annual dividend on Thursday, March 31st, Wall Street Journal reports. Stockholders of record on Thursday, June 9th will be given a dividend of 2.4674 per share by the oil and gas company on Thursday, June 30th. This represents a dividend yield of 13.3%. The ex-dividend date is Wednesday, June 8th.
China Petroleum & Chemical has a dividend payout ratio of 106.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect China Petroleum & Chemical to earn $10.64 per share next year, which means the company should continue to be able to cover its $9.77 annual dividend with an expected future payout ratio of 91.8%.
Shares of SNP stock opened at $53.78 on Monday. The business’s fifty day moving average price is $50.57 and its 200 day moving average price is $49.52. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.93 and a quick ratio of 0.53. The firm has a market capitalization of $65.11 billion, a PE ratio of 5.53, a P/E/G ratio of 1.59 and a beta of 0.71. China Petroleum & Chemical has a 1-year low of $40.60 and a 1-year high of $55.77.
Several equities analysts recently commented on SNP shares. Citigroup lowered China Petroleum & Chemical from a “buy” rating to a “sell” rating in a research note on Monday, May 23rd. StockNews.com upgraded shares of China Petroleum & Chemical from a “hold” rating to a “buy” rating in a research note on Wednesday, May 4th.
Several institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley increased its holdings in shares of China Petroleum & Chemical by 47.7% in the second quarter. Morgan Stanley now owns 19,677 shares of the oil and gas company’s stock valued at $1,004,000 after buying an additional 6,355 shares in the last quarter. Millennium Management LLC grew its holdings in shares of China Petroleum & Chemical by 50.7% during the 3rd quarter. Millennium Management LLC now owns 25,282 shares of the oil and gas company’s stock valued at $1,243,000 after acquiring an additional 8,507 shares in the last quarter. LPL Financial LLC boosted its holdings in China Petroleum & Chemical by 1.7% in the third quarter. LPL Financial LLC now owns 21,599 shares of the oil and gas company’s stock worth $1,062,000 after purchasing an additional 359 shares in the last quarter. Advisor Group Holdings Inc. boosted its holdings in China Petroleum & Chemical by 120.5% in the fourth quarter. Advisor Group Holdings Inc. now owns 785 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 429 shares in the last quarter. Finally, State Street Corp boosted its holdings in China Petroleum & Chemical by 3.5% in the fourth quarter. State Street Corp now owns 132,632 shares of the oil and gas company’s stock worth $6,170,000 after purchasing an additional 4,543 shares in the last quarter. Institutional investors and hedge funds own 0.56% of the company’s stock.
About China Petroleum & Chemical (Get Rating)
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.
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