Goldman Sachs Reports That They Have Downgraded China Petroleum (NYSE:SNP) Shares

June 5, 2018 - By Richard Conner

China Petroleum (NYSE:SNP) Receives a Downgrade

The rating of China Petroleum (NYSE:SNP) was lowered today by equity analysts at Goldman Sachs to a Hold rating in an analyst note.

China Petroleum & Chemical Corporation (NYSE:SNP) Ratings Coverage

Among 2 analysts covering China Petroleum and Chemical (NYSE:SNP), 0 have Buy rating, 0 Sell and 2 Hold. Therefore 0 are positive. China Petroleum and Chemical had 2 analyst reports since December 6, 2017 according to SRatingsIntel. The firm has “Neutral” rating by Nomura given on Wednesday, December 6. The stock of China Petroleum & Chemical Corporation (NYSE:SNP) earned “Neutral” rating by Goldman Sachs on Monday, June 4.

The stock decreased 0.58% or $0.56 during the last trading session, reaching $96.62. About 328,487 shares traded or 71.39% up from the average. China Petroleum & Chemical Corporation (NYSE:SNP) has risen 13.93% since June 5, 2017 and is uptrending. It has outperformed by 1.36% the S&P500.

China Petroleum & Chemical Corporation, an energy and chemical company, engages in the gas and oil, and chemical activities and businesses in the People's Republic of China. The company has market cap of $109.53 billion. It operates through five divisions: Exploration and Production, Refining, Marketing and Distribution, Chemicals, and Corporate and Others. It has a 13.24 P/E ratio. The firm explores and develops oil fields; produces natural gas and crude oil; processes and purifies crude oil; and makes and sells petroleum products.

Another recent and important China Petroleum & Chemical Corporation (NYSE:SNP) news was published by which published an article titled: “20 Oil Stocks for an Unpredictable Second Half” on May 24, 2018.

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