Short Interest in China Petroleum & Chemical Co. (OTCMKTS:SNPMF) Drops By 69.4%

China Petroleum & Chemical Co. (OTCMKTS:SNPMF) saw a large decrease in short interest during the month of July. As of July 31st, there was short interest totaling 41,784,638 shares, a decrease of 69.4% from the July 15th total of 136,704,524 shares. Based on an average daily trading volume, of 51,100 shares, the days-to-cover ratio is currently 817.7 days.

China Petroleum & Chemical Stock Performance

Shares of OTCMKTS:SNPMF opened at $0.55 on Thursday. The company has a fifty day simple moving average of $0.54 and a 200 day simple moving average of $0.59. China Petroleum & Chemical has a 12-month low of $0.48 and a 12-month high of $0.72.

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.