Sinopec Shanghai Petrochemical Co. (NYSE:SHI) has received a consensus rating of “Buy” from the six research firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $71.00.
Separately, Zacks Investment Research upgraded Sinopec Shanghai Petrochemical from a “strong sell” rating to a “hold” rating in a research report on Thursday, December 28th.
Shares of Sinopec Shanghai Petrochemical (NYSE SHI) opened at $62.54 on Monday. The stock has a market capitalization of $6,754.32, a PE ratio of 7.69 and a beta of 0.55. Sinopec Shanghai Petrochemical has a fifty-two week low of $50.67 and a fifty-two week high of $64.80.
Institutional investors and hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN increased its position in Sinopec Shanghai Petrochemical by 3.6% in the 2nd quarter. Wells Fargo & Company MN now owns 155,461 shares of the oil and gas company’s stock valued at $8,318,000 after acquiring an additional 5,354 shares during the period. Ameriprise Financial Inc. increased its position in Sinopec Shanghai Petrochemical by 9.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,425 shares of the oil and gas company’s stock valued at $238,000 after acquiring an additional 389 shares during the period. Profund Advisors LLC acquired a new position in Sinopec Shanghai Petrochemical in the 2nd quarter valued at about $233,000. Citigroup Inc. increased its position in Sinopec Shanghai Petrochemical by 120.1% in the 2nd quarter. Citigroup Inc. now owns 3,423 shares of the oil and gas company’s stock valued at $183,000 after acquiring an additional 1,868 shares during the period. Finally, Northern Trust Corp increased its position in Sinopec Shanghai Petrochemical by 5.8% in the 2nd quarter. Northern Trust Corp now owns 49,225 shares of the oil and gas company’s stock valued at $2,635,000 after acquiring an additional 2,702 shares during the period. Institutional investors and hedge funds own 1.34% of the company’s stock.
Sinopec Shanghai Petrochemical Company Profile
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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