China Petroleum & Chemical Corp Lifted to “Hold” at Jefferies Group (SNP)

Jefferies Group upgraded shares of China Petroleum & Chemical Corp (NYSE:SNP) from an underperform rating to a hold rating in a research report released on Monday morning, TheFlyOnTheWall.com reports. Jefferies Group has also updated their ratings on a number of other basic materials stocks in the last week. The firm reiterated its reduce rating on shares of Amarin Co. plc (ADR). Also, Jefferies Group lowered its price target on shares of Pluristem Therapeutics Inc. from $3.50 to $3.00. They have a hold rating on that stock. Finally, Jefferies Group initiated coverage on shares of Capital Product Partners L.P.. They issued a buy rating on that stock and set a $12.00 price target. Shares of China Petroleum & Chemical Corp (NYSE:SNP) opened at 92.67 on Monday.

China Petroleum & Chemical Corp has a 52 week low of $73.99 and a 52 week high of $105.88. The stock’s 50-day moving average is $99.65 and its 200-day moving average is $93.5. The company has a market cap of $108.2 billion and a price-to-earnings ratio of 10.12. Several other analysts have also recently commented on the stock. Analysts at Citigroup Inc. downgraded shares of China Petroleum & Chemical Corp from a buy rating to a neutral rating in a research note on Monday, August 25th. Separately, analysts at Zacks upgraded shares of China Petroleum & Chemical Corp from an underperform rating to a neutral rating in a research note on Friday, July 18th. They now have a $99.00 price target on the stock.

It operates its businesses through four segments: exploration and production segment, which involves in exploration and mining of original oil and natural gas; oil refining segment, which involves in processing of original oil and production of oil products; marketing and distribution segment, which involves in distribution, wholesaling and retailing of gasoline, diesel oil, kerosene and fuel oil, as well as chemical segment, which involves in manufacture and distribution of petrochemical products and inorganic chemical products.

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