Shanghai Petrochemical (NYSE:SHI) hit a new 52-week high and low during trading on Monday . The stock traded as low as $65.59 and last traded at $65.42, with a volume of 11239 shares trading hands. The stock had previously closed at $65.03.

Several brokerages have recently commented on SHI. ValuEngine downgraded Shanghai Petrochemical from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research downgraded Shanghai Petrochemical from a “strong-buy” rating to a “hold” rating in a report on Saturday, March 17th. Finally, Citigroup raised Shanghai Petrochemical from a “sell” rating to a “buy” rating in a report on Tuesday, February 27th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Shanghai Petrochemical has a consensus rating of “Buy” and a consensus price target of $68.00.

The firm has a market cap of $7,023.24, a P/E ratio of 7.99 and a beta of 0.65.

The business also recently announced an annual dividend, which will be paid on Monday, July 23rd. Stockholders of record on Tuesday, June 19th will be issued a dividend of $4.7647 per share. This represents a dividend yield of 7.91%. This is an increase from Shanghai Petrochemical’s previous annual dividend of $3.63. The ex-dividend date of this dividend is Monday, June 18th. Shanghai Petrochemical’s dividend payout ratio is currently 39.23%.

Large investors have recently bought and sold shares of the stock. Wells Fargo & Company MN raised its position in Shanghai Petrochemical by 4.7% during the third quarter. Wells Fargo & Company MN now owns 162,784 shares of the oil and gas company’s stock valued at $9,738,000 after buying an additional 7,323 shares during the period. Aperio Group LLC raised its position in Shanghai Petrochemical by 47.3% during the fourth quarter. Aperio Group LLC now owns 52,398 shares of the oil and gas company’s stock valued at $2,987,000 after buying an additional 16,824 shares during the period. Renaissance Group LLC raised its position in Shanghai Petrochemical by 3.3% during the fourth quarter. Renaissance Group LLC now owns 250,971 shares of the oil and gas company’s stock valued at $14,305,000 after buying an additional 7,945 shares during the period. Bank of Montreal Can raised its position in Shanghai Petrochemical by 29.7% during the fourth quarter. Bank of Montreal Can now owns 19,235 shares of the oil and gas company’s stock valued at $1,096,000 after buying an additional 4,405 shares during the period. Finally, We Are One Seven LLC acquired a new position in Shanghai Petrochemical during the fourth quarter valued at $128,000. 1.34% of the stock is currently owned by hedge funds and other institutional investors.

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About 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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