Sinopec Shanghai Petrochemical (NYSE:SHI) Upgraded to Neutral by Credit Suisse Group

Credit Suisse Group upgraded shares of Sinopec Shanghai Petrochemical (NYSE:SHI) from an underperform rating to a neutral rating in a report released on Wednesday morning, Briefing.com Automated Import reports.

A number of other equities research analysts also recently commented on SHI. Zacks Investment Research downgraded Sinopec Shanghai Petrochemical from a hold rating to a strong sell rating in a research report on Thursday, October 17th. ValuEngine raised Sinopec Shanghai Petrochemical from a sell rating to a hold rating in a research report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $43.00.

Shares of NYSE:SHI traded down $0.18 during midday trading on Wednesday, reaching $28.43. The company’s stock had a trading volume of 46,800 shares, compared to its average volume of 51,524. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of 3.97 and a beta of 1.04. Sinopec Shanghai Petrochemical has a 1 year low of $28.02 and a 1 year high of $52.67. The business has a 50 day moving average price of $29.35 and a 200 day moving average price of $37.32.

Sinopec Shanghai Petrochemical (NYSE:SHI) last announced its quarterly earnings data on Wednesday, August 21st. The oil and gas company reported $0.72 EPS for the quarter. The business had revenue of $3.94 billion during the quarter. Sinopec Shanghai Petrochemical had a return on equity of 9.68% and a net margin of 2.74%. Analysts expect that Sinopec Shanghai Petrochemical will post 3.3 EPS for the current year.

Institutional investors have recently modified their holdings of the stock. Yorktown Management & Research Co Inc acquired a new position in shares of Sinopec Shanghai Petrochemical during the second quarter worth about $495,000. Atria Investments LLC acquired a new position in shares of Sinopec Shanghai Petrochemical during the second quarter worth about $428,000. Parametric Portfolio Associates LLC lifted its stake in shares of Sinopec Shanghai Petrochemical by 9.2% during the second quarter. Parametric Portfolio Associates LLC now owns 111,316 shares of the oil and gas company’s stock worth $4,447,000 after purchasing an additional 9,385 shares in the last quarter. Signaturefd LLC lifted its stake in shares of Sinopec Shanghai Petrochemical by 28.8% during the second quarter. Signaturefd LLC now owns 1,917 shares of the oil and gas company’s stock worth $77,000 after purchasing an additional 429 shares in the last quarter. Finally, Aperio Group LLC lifted its stake in shares of Sinopec Shanghai Petrochemical by 2.0% during the second quarter. Aperio Group LLC now owns 111,217 shares of the oil and gas company’s stock worth $4,443,000 after purchasing an additional 2,165 shares in the last quarter. Hedge funds and other institutional investors own 1.58% of the company’s stock.

About Sinopec Shanghai Petrochemical

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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