SINOPEC Shangai Petrochemical Company, Ltd. (SHI) Raised to Neutral at Instinet

Instinet upgraded shares of SINOPEC Shangai Petrochemical Company, Ltd. (NYSE:SHI) from a reduce rating to a neutral rating in a research report sent to investors on Wednesday morning.

Several other brokerages have also commented on SHI. BidaskClub upgraded shares of SINOPEC Shangai Petrochemical from a buy rating to a strong-buy rating in a report on Wednesday, July 19th. Citigroup Inc. lowered shares of SINOPEC Shangai Petrochemical from a neutral rating to a sell rating in a report on Thursday, June 1st. Zacks Investment Research lowered shares of SINOPEC Shangai Petrochemical from a strong-buy rating to a hold rating in a report on Wednesday, May 17th. Finally, Nomura upgraded shares of SINOPEC Shangai Petrochemical to a neutral rating in a report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Hold and an average target price of $66.00.

Shares of SINOPEC Shangai Petrochemical (NYSE SHI) traded down 1.03% during trading on Wednesday, hitting $58.89. 20,462 shares of the stock were exchanged. SINOPEC Shangai Petrochemical has a one year low of $48.82 and a one year high of $64.80. The stock’s 50 day moving average price is $56.25 and its 200-day moving average price is $57.63. The company has a market cap of $6.35 billion, a price-to-earnings ratio of 6.33 and a beta of 0.48.

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A number of large investors have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its stake in SINOPEC Shangai Petrochemical by 9.6% in the second quarter. Ameriprise Financial Inc. now owns 4,425 shares of the oil and gas company’s stock worth $238,000 after buying an additional 389 shares during the period. Dimensional Fund Advisors LP raised its stake in SINOPEC Shangai Petrochemical by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 46,569 shares of the oil and gas company’s stock worth $2,597,000 after buying an additional 400 shares during the period. OxFORD Asset Management LLP raised its stake in SINOPEC Shangai Petrochemical by 2.1% in the second quarter. OxFORD Asset Management LLP now owns 25,693 shares of the oil and gas company’s stock worth $1,375,000 after buying an additional 518 shares during the period. Citigroup Inc. raised its stake in SINOPEC Shangai Petrochemical by 120.1% in the second quarter. Citigroup Inc. now owns 3,423 shares of the oil and gas company’s stock worth $183,000 after buying an additional 1,868 shares during the period. Finally, Aperio Group LLC raised its stake in SINOPEC Shangai Petrochemical by 6.9% in the second quarter. Aperio Group LLC now owns 30,039 shares of the oil and gas company’s stock worth $1,607,000 after buying an additional 1,947 shares during the period. Institutional investors own 1.04% of the company’s stock.

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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