Sinopec Shanghai Petrochemical (NYSE:SHI) was downgraded by ValuEngine from a “strong-buy” rating to a “buy” rating in a note issued to investors on Friday, February 2nd.
Separately, Zacks Investment Research upgraded Sinopec Shanghai Petrochemical from a “strong sell” rating to a “hold” rating in a research note on Thursday, December 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $71.00.
Shares of Sinopec Shanghai Petrochemical (SHI) opened at $57.57 on Friday. Sinopec Shanghai Petrochemical has a 12 month low of $50.67 and a 12 month high of $64.80. The firm has a market capitalization of $6,086.88, a price-to-earnings ratio of 6.93 and a beta of 0.62.
Large investors have recently made changes to their positions in the company. Wells Fargo & Company MN increased its holdings in shares of Sinopec Shanghai Petrochemical by 4.7% during the third quarter. Wells Fargo & Company MN now owns 162,784 shares of the oil and gas company’s stock worth $9,738,000 after buying an additional 7,323 shares in the last quarter. Eqis Capital Management Inc. acquired a new stake in Sinopec Shanghai Petrochemical in the third quarter valued at $274,000. Aperio Group LLC increased its holdings in Sinopec Shanghai Petrochemical by 18.4% in the third quarter. Aperio Group LLC now owns 35,574 shares of the oil and gas company’s stock valued at $2,128,000 after purchasing an additional 5,535 shares during the period. Northern Trust Corp increased its holdings in Sinopec Shanghai Petrochemical by 5.8% in the second quarter. Northern Trust Corp now owns 49,225 shares of the oil and gas company’s stock valued at $2,635,000 after purchasing an additional 2,702 shares during the period. Finally, BB&T Investment Services Inc. acquired a new stake in Sinopec Shanghai Petrochemical in the third quarter valued at $550,000. Institutional investors own 1.37% of the company’s stock.
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About Sinopec Shanghai Petrochemical
Sinopec Shanghai Petrochemical Company Limited (Shanghai Petrochemical) is a petrochemical company. The Company and its subsidiaries are principally engaged in processing crude oil into synthetic fibers, resins and plastics, intermediate petrochemicals and petroleum products. The Company operates in five operating segments.
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