Sinopec Shanghai Petrochemical (NYSE:SHI) Now Covered by StockNews.com

StockNews.com began coverage on shares of Sinopec Shanghai Petrochemical (NYSE:SHI – Get Rating) in a report released on Sunday. The firm set a “buy” rating on the oil and gas company’s stock.

SHI has been the subject of a number of other reports. Zacks Investment Research cut shares of Sinopec Shanghai Petrochemical from a “hold” rating to a “sell” rating in a report on Tuesday, May 3rd. JPMorgan Chase & Co. lowered shares of Sinopec Shanghai Petrochemical from a “neutral” rating to an “underweight” rating in a research note on Tuesday, April 19th.

Shares of NYSE:SHI opened at $17.99 on Friday. The company has a 50-day simple moving average of $19.95 and a 200-day simple moving average of $21.91. Sinopec Shanghai Petrochemical has a one year low of $17.78 and a one year high of $27.94. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.95 and a current ratio of 1.33. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 3.92, a PEG ratio of 0.51 and a beta of 0.60.

Several institutional investors have recently modified their holdings of SHI. Bank of America Corp DE grew its position in Sinopec Shanghai Petrochemical by 41.7% during the second quarter. Bank of America Corp DE now owns 5,375 shares of the oil and gas company’s stock worth $126,000 after buying an additional 1,581 shares during the period. LPL Financial LLC acquired a new position in Sinopec Shanghai Petrochemical during the third quarter worth about $200,000. Millennium Management LLC acquired a new position in Sinopec Shanghai Petrochemical during the fourth quarter worth about $251,000. Veriti Management LLC acquired a new position in Sinopec Shanghai Petrochemical during the first quarter worth about $270,000. Finally, Citadel Advisors LLC acquired a new position in Sinopec Shanghai Petrochemical during the fourth quarter worth about $296,000. Institutional investors and hedge funds own 0.85% of the company’s stock.

About Sinopec Shanghai Petrochemical (Get Rating)

Sinopec Shanghai Petrochemical Company Limited, together with its subsidiaries, manufactures and sells petroleum products in the People's Republic of China. It operates through five segments: Synthetic Fibers, Resins and Plastics, Intermediate Petrochemicals, Petroleum Products, and Trading of Petrochemical Products.

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