Sinopec Shanghai Petrochemical (SHI) Hits New 12-Month High and Low at $64.56

Shares of Sinopec Shanghai Petrochemical Co. (NYSE:SHI) hit a new 52-week high and low during mid-day trading on Thursday . The company traded as low as $64.56 and last traded at $64.34, with a volume of 16969 shares changing hands. The stock had previously closed at $63.73.

A number of brokerages have issued reports on SHI. ValuEngine lowered Sinopec Shanghai Petrochemical from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 2nd. Zacks Investment Research lowered Sinopec Shanghai Petrochemical from a “strong-buy” rating to a “hold” rating in a research report on Saturday, March 17th. Finally, Citigroup raised Sinopec Shanghai Petrochemical from a “sell” rating to a “buy” rating in a research report on Tuesday, February 27th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $68.00.

The stock has a market cap of $6,901.20, a PE ratio of 7.73 and a beta of 0.65.



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

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Group LLC raised its position in Sinopec Shanghai Petrochemical by 3.3% in the fourth quarter. Renaissance Group LLC now owns 250,971 shares of the oil and gas company’s stock valued at $14,305,000 after purchasing an additional 7,945 shares during the period. Wells Fargo & Company MN increased its position in shares of Sinopec Shanghai Petrochemical by 1.3% during the fourth quarter. Wells Fargo & Company MN now owns 164,908 shares of the oil and gas company’s stock worth $9,400,000 after acquiring an additional 2,124 shares during the period. Renaissance Technologies LLC increased its position in shares of Sinopec Shanghai Petrochemical by 19.0% during the fourth quarter. Renaissance Technologies LLC now owns 136,450 shares of the oil and gas company’s stock worth $7,778,000 after acquiring an additional 21,800 shares during the period. Allianz Asset Management GmbH increased its position in shares of Sinopec Shanghai Petrochemical by 16.1% during the fourth quarter. Allianz Asset Management GmbH now owns 70,060 shares of the oil and gas company’s stock worth $3,993,000 after acquiring an additional 9,736 shares during the period. Finally, Aperio Group LLC increased its position in shares of 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 during the period. 1.35% of the stock is currently owned by institutional investors.

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About Sinopec Shanghai Petrochemical

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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