Zacks Investment Research Lowers Sinopec Shanghai Petrochemical (NYSE:SHI) to Hold

Zacks Investment Research downgraded shares of Sinopec Shanghai Petrochemical (NYSE:SHI) from a strong-buy rating to a hold rating in a report published on Wednesday, Zacks.com reports.

According to Zacks, “Shanghai Petrochemical Company Ltd. is a China’s largest petrochemical company. The Company processes crude oil into synthetic fibers, resins and plastics, intermediate petrochemicals and petroleum products. “

Several other equities research analysts have also commented on SHI. Citigroup upgraded shares of Sinopec Shanghai Petrochemical from a sell rating to a buy rating in a research note on Tuesday, May 14th. JPMorgan Chase & Co. lowered shares of Sinopec Shanghai Petrochemical from an overweight rating to an underweight rating in a research note on Monday, June 10th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. Sinopec Shanghai Petrochemical has an average rating of Hold and a consensus price target of $43.00.



Shares of NYSE:SHI traded up $0.53 during trading hours on Wednesday, hitting $31.20. The stock had a trading volume of 53,300 shares, compared to its average volume of 51,081. The stock’s fifty day simple moving average is $31.52 and its 200 day simple moving average is $41.64. Sinopec Shanghai Petrochemical has a 1-year low of $28.03 and a 1-year high of $61.33. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of 4.35 and a beta of 1.04.

Sinopec Shanghai Petrochemical (NYSE:SHI) last announced its quarterly earnings results on Wednesday, August 21st. The oil and gas company reported $0.72 EPS for the quarter. Sinopec Shanghai Petrochemical had a net margin of 2.74% and a return on equity of 9.68%. The company had revenue of $3.94 billion for the quarter. On average, sell-side analysts anticipate that Sinopec Shanghai Petrochemical will post 7.8 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of the company. Signaturefd LLC boosted its holdings in shares of Sinopec Shanghai Petrochemical by 28.8% in the second quarter. Signaturefd LLC now owns 1,917 shares of the oil and gas company’s stock valued at $77,000 after acquiring an additional 429 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Sinopec Shanghai Petrochemical by 0.8% in the second quarter. Northern Trust Corp now owns 59,203 shares of the oil and gas company’s stock valued at $2,366,000 after acquiring an additional 491 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of Sinopec Shanghai Petrochemical by 1,098.1% in the first quarter. Parallel Advisors LLC now owns 635 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 582 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of Sinopec Shanghai Petrochemical by 7.5% in the first quarter. Bank of Montreal Can now owns 8,878 shares of the oil and gas company’s stock valued at $424,000 after acquiring an additional 619 shares in the last quarter. Finally, We Are One Seven LLC boosted its holdings in shares of Sinopec Shanghai Petrochemical by 22.5% in the second quarter. We Are One Seven LLC now owns 5,751 shares of the oil and gas company’s stock valued at $229,000 after acquiring an additional 1,057 shares in the last quarter. Institutional investors and hedge funds own 1.59% of the company’s stock.

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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