Instinet upgraded shares of SINOPEC Shangai Petrochemical Company, Ltd. (NYSE:SHI) from a reduce rating to a neutral rating in a research note issued to investors on Wednesday.

SHI has been the topic of a number of other reports. BidaskClub raised shares of SINOPEC Shangai Petrochemical from a buy rating to a strong-buy rating in a research report on Wednesday, July 19th. Citigroup Inc. cut shares of SINOPEC Shangai Petrochemical from a neutral rating to a sell rating in a research report on Thursday, June 1st. Zacks Investment Research cut shares of SINOPEC Shangai Petrochemical from a strong-buy rating to a hold rating in a research report on Wednesday, May 17th. Finally, Nomura raised shares of SINOPEC Shangai Petrochemical to a neutral rating in a research report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the company. SINOPEC Shangai Petrochemical has an average rating of Hold and a consensus target price of $66.00.

SINOPEC Shangai Petrochemical (NYSE SHI) traded down 1.03% during midday trading on Wednesday, reaching $58.89. 20,462 shares of the company’s stock were exchanged. The firm has a market capitalization of $6.35 billion, a P/E ratio of 6.33 and a beta of 0.48. SINOPEC Shangai Petrochemical has a 52 week low of $48.82 and a 52 week high of $64.80. The stock’s 50 day moving average is $56.25 and its 200 day moving average is $57.63.

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Hedge funds and other institutional investors have recently bought and sold shares of the company. U S Global Investors Inc purchased a new position in SINOPEC Shangai Petrochemical during the first quarter worth approximately $234,000. Renaissance Technologies LLC boosted its position in SINOPEC Shangai Petrochemical by 251.9% in the first quarter. Renaissance Technologies LLC now owns 88,150 shares of the oil and gas company’s stock worth $4,915,000 after buying an additional 63,100 shares during the last quarter. UBS Group AG boosted its position in SINOPEC Shangai Petrochemical by 121.8% in the first quarter. UBS Group AG now owns 21,298 shares of the oil and gas company’s stock worth $1,188,000 after buying an additional 11,694 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in SINOPEC Shangai Petrochemical by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 46,569 shares of the oil and gas company’s stock worth $2,597,000 after buying an additional 400 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its position in SINOPEC Shangai Petrochemical by 11,439.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 3,231 shares of the oil and gas company’s stock worth $180,000 after buying an additional 3,203 shares during the last quarter. 1.04% of the stock is currently owned by institutional investors and hedge funds.

SINOPEC Shangai 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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