Short Interest in China Petroleum & Chemical Co. (OTCMKTS:SNPMF) Decreases By 39.5%

China Petroleum & Chemical Co. (OTCMKTS:SNPMF) was the target of a large decline in short interest during the month of July. As of July 15th, there was short interest totaling 136,704,524 shares, a decline of 39.5% from the June 30th total of 226,098,216 shares. Based on an average trading volume of 4,685 shares, the days-to-cover ratio is currently 29,179.2 days.

China Petroleum & Chemical Price Performance

Shares of China Petroleum & Chemical stock opened at $0.53 on Friday. China Petroleum & Chemical has a 12-month low of $0.48 and a 12-month high of $0.72. The stock’s fifty day moving average is $0.54 and its 200-day moving average is $0.59.

China Petroleum & Chemical Company Profile

China Petroleum & Chemical Corporation (OTCMKTS: SNPMF), commonly known as Sinopec, is one of China’s largest integrated energy and chemical companies. Established in 1998 and headquartered in Beijing, Sinopec operates across the full hydrocarbon value chain, encompassing exploration and production of crude oil and natural gas, refining, marketing and distribution of petroleum products, as well as the manufacture of a broad array of petrochemicals. The company manages extensive refining facilities, petrochemical complexes and a nationwide retail network of service stations.

On the upstream side, Sinopec engages in onshore and offshore exploration and production activities through joint ventures and wholly owned subsidiaries.