What’s a smart China Petroleum & Chemical Corp (ADR) (NYSE:SNP) investor to do?
At the moment, there are plenty of gauges shareholders can use to monitor the equity markets. A duo of the most innovative are hedge fund and insider trading sentiment. At Insider Monkey, our studies have shown that, historically, those who follow the top picks of the top investment managers can outclass the S&P 500 by a solid amount (see just how much).
Just as crucial, positive insider trading activity is a second way to look at the investments you’re interested in. Obviously, there are many stimuli for an upper level exec to cut shares of his or her company, but just one, very obvious reason why they would initiate a purchase. Many academic studies have demonstrated the impressive potential of this tactic if piggybackers understand what to do (learn more here).
Now that that’s out of the way, we’re going to discuss the newest info for China Petroleum & Chemical Corp (ADR) (NYSE:SNP).
How are hedge funds trading China Petroleum & Chemical Corp (ADR) (NYSE:SNP)?
At the end of the second quarter, a total of 9 of the hedge funds we track were bullish in this stock, a change of 13% from one quarter earlier. With the smart money’s capital changing hands, there exists an “upper tier” of noteworthy hedge fund managers who were upping their stakes meaningfully.
When using filings from the hedgies we track, Renaissance Technologies, managed by Jim Simons, holds the biggest position in China Petroleum & Chemical Corp (ADR) (NYSE:SNP). Renaissance Technologies has a $8.5 million position in the stock, comprising less than 0.1%% of its 13F portfolio. Coming in second is Cliff Asness of AQR Capital Management, with a $5.6 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Remaining hedgies with similar optimism include Matthew Hulsizer’s PEAK6 Capital Management, Brian Taylor’s Pine River Capital Management and J. Alan Reid Jr.’s Forward Management.
With a general bullishness amongst the titans, specific money managers were leading the bulls’ herd. Renaissance Technologies, managed by Jim Simons, created the biggest position in China Petroleum & Chemical Corp (ADR) (NYSE:SNP). Renaissance Technologies had 8.5 million invested in the company at the end of the quarter. Cliff Asness’s AQR Capital Management also initiated a $5.6 million position during the quarter. The other funds with new positions in the stock are Matthew Hulsizer’s PEAK6 Capital Management, Brian Taylor’s Pine River Capital Management, and J. Alan Reid, Jr.’s Forward Management.
How have insiders been trading China Petroleum & Chemical Corp (ADR) (NYSE:SNP)?
Bullish insider trading is at its handiest when the company in focus has seen transactions within the past 180 days. Over the latest 180-day time period, China Petroleum & Chemical Corp (ADR) (NYSE:SNP) has seen zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
We’ll also examine the relationship between both of these indicators in other stocks similar to China Petroleum & Chemical Corp (ADR) (NYSE:SNP). These stocks are BP plc (ADR) (NYSE:BP), Statoil ASA (ADR) (NYSE:STO), Eni SpA (ADR) (NYSE:E), TOTAL S.A. (ADR) (NYSE:TOT), and Ecopetrol S.A. (ADR) (NYSE:EC). This group of stocks are the members of the major integrated oil & gas industry and their market caps are closest to SNP’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| BP plc (ADR) (NYSE:BP) | 38 | 0 | 0 |
| Statoil ASA (ADR) (NYSE:STO) | 13 | 0 | 0 |
| Eni SpA (ADR) (NYSE:E) | 9 | 0 | 0 |
| TOTAL S.A. (ADR) (NYSE:TOT) | 11 | 0 | 0 |
| Ecopetrol S.A. (ADR) (NYSE:EC) | 4 | 0 | 0 |
Using the results shown by Insider Monkey’s studies, average investors must always track hedge fund and insider trading sentiment, and China Petroleum & Chemical Corp (ADR) (NYSE:SNP) applies perfectly to this mantra.
Discover how hedge fund piggybacking can benefit you
Recommended Reading:
Here is What Hedge Funds Think About China Petroleum & Chemical Corp (ADR) (SNP)
