Credit Suisse Group cut shares of Sinopec Shanghai Petrochemical (NYSE:SHI) from an outperform rating to a neutral rating in a research report sent to investors on Thursday, The Fly reports.
Other equities analysts have also recently issued research reports about the company. Zacks Investment Research cut Sinopec Shanghai Petrochemical from a strong-buy rating to a hold rating in a report on Wednesday, December 26th. ValuEngine cut Sinopec Shanghai Petrochemical from a sell rating to a strong sell rating in a report on Thursday, November 1st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Sinopec Shanghai Petrochemical currently has an average rating of Hold and an average price target of $68.00.
SHI traded down $1.09 on Thursday, hitting $46.15. 172,125 shares of the company’s stock traded hands, compared to its average volume of 37,769. The company has a market capitalization of $5.14 billion, a PE ratio of 5.49 and a beta of 1.12. Sinopec Shanghai Petrochemical has a one year low of $42.01 and a one year high of $74.09.
Sinopec Shanghai Petrochemical (NYSE:SHI) last released its quarterly earnings results on Friday, October 26th. The oil and gas company reported $1.54 earnings per share for the quarter. The business had revenue of $4.21 billion during the quarter. Sinopec Shanghai Petrochemical had a return on equity of 22.94% and a net margin of 6.43%. On average, equities research analysts predict that Sinopec Shanghai Petrochemical will post 58.67 EPS for the current year.
Several institutional investors have recently made changes to their positions in the company. Sensato Investors LLC boosted its holdings in shares of Sinopec Shanghai Petrochemical by 426.6% in the 3rd quarter. Sensato Investors LLC now owns 24,749 shares of the oil and gas company’s stock worth $1,494,000 after purchasing an additional 20,049 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Sinopec Shanghai Petrochemical by 18,019.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 43,487 shares of the oil and gas company’s stock worth $2,624,000 after acquiring an additional 43,247 shares during the last quarter. U S Global Investors Inc lifted its stake in shares of Sinopec Shanghai Petrochemical by 183.5% during the 3rd quarter. U S Global Investors Inc now owns 32,600 shares of the oil and gas company’s stock worth $1,967,000 after acquiring an additional 21,100 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in shares of Sinopec Shanghai Petrochemical by 14.5% during the 3rd quarter. Allianz Asset Management GmbH now owns 51,168 shares of the oil and gas company’s stock worth $3,088,000 after acquiring an additional 6,488 shares during the last quarter. Finally, Stevens Capital Management LP bought a new stake in shares of Sinopec Shanghai Petrochemical during the 3rd quarter worth approximately $228,000. Hedge funds and other institutional investors own 1.98% of the company’s stock.
About Sinopec Shanghai Petrochemical
Sinopec Shanghai Petrochemical Company Limited, together with its subsidiaries, manufactures and sells petrochemical products in the People's Republic of China. The company operates through five segments: Synthetic Fibres, Resins and Plastics, Intermediate Petrochemicals, Petroleum Products, and Trading of Petrochemical Products.
Further Reading: How To Calculate Debt-to-Equity Ratio
Receive News & Ratings for Sinopec Shanghai Petrochemical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sinopec Shanghai Petrochemical and related companies with MarketBeat.com's FREE daily email newsletter.