Sinopec Shanghai Petrochemical (NYSE:SHI) was upgraded by investment analysts at Citigroup from a “sell” rating to a “buy” rating in a report issued on Tuesday, February 27th.
A number of other research analysts have also recently issued reports on the stock. ValuEngine cut shares of Sinopec Shanghai Petrochemical from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research raised shares of Sinopec Shanghai Petrochemical from a “hold” rating to a “strong-buy” rating and set a $71.00 price target on the stock in a research report on Thursday, January 18th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $71.00.
Sinopec Shanghai Petrochemical (SHI) opened at $61.34 on Tuesday. Sinopec Shanghai Petrochemical has a 52 week low of $50.67 and a 52 week high of $64.43. The stock has a market cap of $6,413.04, a price-to-earnings ratio of 7.54 and a beta of 0.65.
Large investors have recently modified their holdings of the stock. Ameriprise Financial Inc. grew its stake in Sinopec Shanghai Petrochemical by 9.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,425 shares of the oil and gas company’s stock worth $238,000 after buying an additional 389 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of Sinopec Shanghai Petrochemical by 14.3% in the 4th quarter. Raymond James & Associates now owns 6,891 shares of the oil and gas company’s stock worth $393,000 after acquiring an additional 863 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Sinopec Shanghai Petrochemical by 3.3% in the 4th quarter. Deutsche Bank AG now owns 30,290 shares of the oil and gas company’s stock worth $1,726,000 after acquiring an additional 958 shares during the last quarter. Van ECK Associates Corp bought a new stake in shares of Sinopec Shanghai Petrochemical in the 3rd quarter worth approximately $112,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Sinopec Shanghai Petrochemical in the 4th quarter worth approximately $108,000. 1.35% of the stock is owned by institutional investors.
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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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