Sinopec Shanghai Petrochemical Co. (SHI) Receives $68.00 Average PT from Analysts

Shares of Sinopec Shanghai Petrochemical Co. (NYSE:SHI) have earned an average recommendation of “Buy” from the six research firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $68.00.

Several research analysts have recently weighed in on SHI shares. Zacks Investment Research raised Sinopec Shanghai Petrochemical from a “strong sell” rating to a “hold” rating in a research report on Thursday, December 28th. ValuEngine lowered Sinopec Shanghai Petrochemical from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd. Finally, Citigroup upgraded Sinopec Shanghai Petrochemical from a “sell” rating to a “buy” rating in a report on Tuesday, February 27th.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN raised its holdings in Sinopec Shanghai Petrochemical by 4.7% during the third quarter. Wells Fargo & Company MN now owns 162,784 shares of the oil and gas company’s stock worth $9,738,000 after acquiring an additional 7,323 shares in the last quarter. Aperio Group LLC raised its holdings in Sinopec Shanghai Petrochemical by 47.3% during the fourth quarter. Aperio Group LLC now owns 52,398 shares of the oil and gas company’s stock worth $2,987,000 after acquiring an additional 16,824 shares in the last quarter. Renaissance Group LLC raised its holdings in Sinopec Shanghai Petrochemical by 3.3% during the fourth quarter. Renaissance Group LLC now owns 250,971 shares of the oil and gas company’s stock worth $14,305,000 after acquiring an additional 7,945 shares in the last quarter. Bank of Montreal Can raised its holdings in Sinopec Shanghai Petrochemical by 29.7% during the fourth quarter. Bank of Montreal Can now owns 19,235 shares of the oil and gas company’s stock worth $1,096,000 after acquiring an additional 4,405 shares in the last quarter. Finally, Profund Advisors LLC raised its holdings in Sinopec Shanghai Petrochemical by 56.4% during the fourth quarter. Profund Advisors LLC now owns 9,361 shares of the oil and gas company’s stock worth $534,000 after acquiring an additional 3,377 shares in the last quarter. Institutional investors and hedge funds own 1.35% of the company’s stock.



Shares of SHI stock traded up $0.65 on Friday, hitting $64.38. 14,282 shares of the stock were exchanged, compared to its average volume of 34,915. The stock has a market capitalization of $6,901.20, a P/E ratio of 7.86 and a beta of 0.65. Sinopec Shanghai Petrochemical has a fifty-two week low of $50.67 and a fifty-two week high of $64.56.

The business also recently announced an annual dividend, which will be paid on Monday, July 23rd. Investors of record on Tuesday, June 19th will be issued a dividend of $4.7647 per share. This represents a yield of 7.91%. The ex-dividend date of this dividend is Monday, June 18th. This is a positive change from Sinopec Shanghai Petrochemical’s previous annual dividend of $3.63. Sinopec Shanghai Petrochemical’s dividend payout ratio is presently 39.23%.

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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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