SINOPEC Shangai Petrochemical Company, Ltd. (NYSE:SHI) has been assigned a consensus broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation and one has given a strong buy recommendation to the company.

Analysts have set a twelve-month consensus price objective of $71.40 for the company, according to Zacks. Zacks has also given SINOPEC Shangai Petrochemical an industry rank of 33 out of 265 based on the ratings given to related companies.

Several research firms recently weighed in on SHI. Citigroup Inc. downgraded SINOPEC Shangai Petrochemical from a “neutral” rating to a “sell” rating in a research note on Thursday, June 1st. BidaskClub raised SINOPEC Shangai Petrochemical from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 19th. Zacks Investment Research downgraded SINOPEC Shangai Petrochemical from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 17th. Finally, Nomura raised SINOPEC Shangai Petrochemical to a “neutral” rating in a research note on Thursday, August 3rd.

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A number of large investors have recently made changes to their positions in SHI. Renaissance Technologies LLC boosted its stake in shares of SINOPEC Shangai Petrochemical by 61.1% in the fourth quarter. Renaissance Technologies LLC now owns 25,050 shares of the oil and gas company’s stock worth $1,356,000 after buying an additional 9,500 shares during the period. Wells Fargo & Company MN boosted its stake in shares of SINOPEC Shangai Petrochemical by 15,010,600.0% in the first quarter. Wells Fargo & Company MN now owns 150,107 shares of the oil and gas company’s stock worth $8,371,000 after buying an additional 150,106 shares during the period. Bank of Montreal Can bought a new stake in shares of SINOPEC Shangai Petrochemical during the first quarter worth approximately $192,000. Karp Capital Management Corp bought a new stake in shares of SINOPEC Shangai Petrochemical during the first quarter worth approximately $1,566,000. Finally, Parametric Portfolio Associates LLC boosted its stake in shares of SINOPEC Shangai Petrochemical by 64.7% in the first quarter. Parametric Portfolio Associates LLC now owns 36,683 shares of the oil and gas company’s stock worth $2,045,000 after buying an additional 14,414 shares during the period. Hedge funds and other institutional investors own 1.04% of the company’s stock.

SINOPEC Shangai Petrochemical (NYSE SHI) traded down 1.1226% during trading on Tuesday, reaching $60.5921. The company’s stock had a trading volume of 4,773 shares. The company has a 50 day moving average price of $54.84 and a 200-day moving average price of $57.68. The company has a market capitalization of $6.53 billion, a PE ratio of 6.5861 and a beta of 0.48. SINOPEC Shangai Petrochemical has a 52 week low of $48.82 and a 52 week high of $64.80.

About SINOPEC Shangai 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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