Wells Fargo & Company MN grew its holdings in shares of Sinopec Shanghai Petrochemical Co. (NYSE:SHI) by 1.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 164,908 shares of the oil and gas company’s stock after purchasing an additional 2,124 shares during the quarter. Wells Fargo & Company MN’s holdings in Sinopec Shanghai Petrochemical were worth $9,400,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Van ECK Associates Corp purchased a new stake in shares of Sinopec Shanghai Petrochemical during the 3rd quarter valued at $112,000. Acadian Asset Management LLC purchased a new stake in shares of Sinopec Shanghai Petrochemical during the 4th quarter valued at $108,000. Yorktown Management & Research Co Inc purchased a new stake in shares of Sinopec Shanghai Petrochemical during the 3rd quarter valued at $239,000. BB&T Investment Services Inc. purchased a new stake in shares of Sinopec Shanghai Petrochemical during the 3rd quarter valued at $550,000. Finally, Bank of Montreal Can increased its position in shares of Sinopec Shanghai Petrochemical by 29.7% during the 4th quarter. Bank of Montreal Can now owns 19,235 shares of the oil and gas company’s stock valued at $1,096,000 after purchasing an additional 4,405 shares during the last quarter. 1.35% of the stock is owned by hedge funds and other institutional investors.

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Shares of Sinopec Shanghai Petrochemical stock opened at $60.97 on Thursday. The stock has a market capitalization of $6,507.00, a price-to-earnings ratio of 7.41 and a beta of 0.65. Sinopec Shanghai Petrochemical Co. has a 12-month low of $50.67 and a 12-month high of $64.43.

SHI has been the subject of several research analyst reports. Zacks Investment Research raised Sinopec Shanghai Petrochemical from a “hold” rating to a “strong-buy” rating and set a $71.00 target price for the company in a research report on Thursday, January 18th. Citigroup raised Sinopec Shanghai Petrochemical from a “sell” rating to a “buy” rating in a research report on Tuesday, February 27th. Finally, ValuEngine lowered Sinopec Shanghai Petrochemical from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 2nd. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $71.00.

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Sinopec Shanghai Petrochemical 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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Institutional Ownership by Quarter for Sinopec Shanghai Petrochemical (NYSE:SHI)

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