Sinopec Shanghai Petrochemical Co. (NYSE:SHI) Receives Average Rating of “Hold” from Brokerages

Shares of Sinopec Shanghai Petrochemical Co. (NYSE:SHI) have received an average recommendation of “Hold” from the six brokerages that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell rating and three have given a hold rating to the company.

A number of analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Sinopec Shanghai Petrochemical from a “sell” rating to a “hold” rating in a research note on Wednesday, July 1st. HSBC downgraded shares of Sinopec Shanghai Petrochemical from a “hold” rating to a “reduce” rating in a report on Monday, June 1st. Finally, ValuEngine downgraded shares of Sinopec Shanghai Petrochemical from a “sell” rating to a “strong sell” rating in a report on Friday, May 1st.

Shares of NYSE:SHI traded down $1.66 during midday trading on Thursday, reaching $25.61. The company’s stock had a trading volume of 2,165 shares, compared to its average volume of 55,189. The firm has a market capitalization of $2.71 billion, a PE ratio of 48.70, a P/E/G ratio of 2.58 and a beta of 0.79. Sinopec Shanghai Petrochemical has a twelve month low of $21.25 and a twelve month high of $38.51. The stock has a fifty day moving average of $25.28 and a 200 day moving average of $26.44.

Sinopec Shanghai Petrochemical (NYSE:SHI) last released its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported ($1.59) earnings per share for the quarter. The business had revenue of $2.57 billion during the quarter. Sinopec Shanghai Petrochemical had a return on equity of 1.37% and a net margin of 0.43%. Equities analysts predict that Sinopec Shanghai Petrochemical will post 1.92 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Lindbrook Capital LLC lifted its holdings in Sinopec Shanghai Petrochemical by 84.0% during the first quarter. Lindbrook Capital LLC now owns 1,003 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 458 shares in the last quarter. UBS Group AG lifted its holdings in Sinopec Shanghai Petrochemical by 129.2% during the fourth quarter. UBS Group AG now owns 1,295 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 730 shares in the last quarter. Quantum Capital Management lifted its holdings in Sinopec Shanghai Petrochemical by 323.9% during the first quarter. Quantum Capital Management now owns 3,188 shares of the oil and gas company’s stock valued at $78,000 after purchasing an additional 2,436 shares in the last quarter. Bank of America Corp DE lifted its holdings in Sinopec Shanghai Petrochemical by 44.9% during the fourth quarter. Bank of America Corp DE now owns 4,910 shares of the oil and gas company’s stock valued at $150,000 after purchasing an additional 1,522 shares in the last quarter. Finally, Aigen Investment Management LP lifted its holdings in Sinopec Shanghai Petrochemical by 15.6% during the first quarter. Aigen Investment Management LP now owns 7,086 shares of the oil and gas company’s stock valued at $173,000 after purchasing an additional 956 shares in the last quarter. 1.20% of the stock is currently owned by hedge funds and other institutional investors.

Sinopec Shanghai Petrochemical Company Profile

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.

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