Shanghai Petrochemical (SHI) Hits New 1-Year High and Low at $65.59
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.
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.
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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