SINOPEC Shangai Petrochemical Company, Ltd. (NYSE:SHI) has been assigned an average broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company.
Brokerages have set a one year consensus price objective of $71.40 for the company, according to Zacks. Zacks has also assigned SINOPEC Shangai Petrochemical an industry rank of 34 out of 265 based on the ratings given to its competitors.
Several research firms have commented on SHI. BidaskClub upgraded SINOPEC Shangai Petrochemical from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. Citigroup Inc. lowered SINOPEC Shangai Petrochemical from a “neutral” rating to a “sell” rating in a research report on Thursday, June 1st. Finally, Zacks Investment Research lowered SINOPEC Shangai Petrochemical from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 17th.
A number of large investors have recently added to or reduced their stakes in SHI. O Shaughnessy Asset Management LLC raised its stake in SINOPEC Shangai Petrochemical by 11,439.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 3,231 shares of the oil and gas company’s stock valued at $180,000 after buying an additional 3,203 shares in the last quarter. Bank of Montreal Can bought a new stake in SINOPEC Shangai Petrochemical during the first quarter valued at approximately $192,000. U S Global Investors Inc bought a new stake in SINOPEC Shangai Petrochemical during the first quarter valued at approximately $234,000. Fulton Bank N.A. bought a new stake in SINOPEC Shangai Petrochemical during the first quarter valued at approximately $334,000. Finally, Goldman Sachs Group Inc. bought a new stake in SINOPEC Shangai Petrochemical during the first quarter valued at approximately $492,000. Institutional investors and hedge funds own 1.04% of the company’s stock.
SINOPEC Shangai Petrochemical (SHI) traded down 0.82% during midday trading on Monday, reaching $56.78. 5,843 shares of the company’s stock were exchanged. SINOPEC Shangai Petrochemical has a 52 week low of $48.00 and a 52 week high of $64.80. The firm has a market capitalization of $6.12 billion, a price-to-earnings ratio of 6.17 and a beta of 0.47. The firm’s 50 day moving average is $54.65 and its 200 day moving average is $57.71.
SINOPEC Shangai 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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