Shares of Sinopec Shanghai Petrochemical Co. (NYSE:SHI) have been given an average recommendation of “Hold” by the seven research firms that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating on the company.

Several analysts recently issued reports on the company. Zacks Investment Research upgraded Sinopec Shanghai Petrochemical from a “sell” rating to a “hold” rating in a research report on Wednesday, June 26th. Citigroup upgraded Sinopec Shanghai Petrochemical from a “sell” rating to a “buy” rating in a research report on Tuesday, May 14th. Finally, JPMorgan Chase & Co. cut Sinopec Shanghai Petrochemical from an “overweight” rating to an “underweight” rating in a research report on Monday, June 10th.

Shares of NYSE:SHI traded up $0.60 during trading on Wednesday, hitting $38.06. 347 shares of the company’s stock were exchanged, compared to its average volume of 45,795. Sinopec Shanghai Petrochemical has a 52-week low of $36.97 and a 52-week high of $63.49. The firm has a 50-day moving average of $41.65. The firm has a market capitalization of $4.01 billion, a P/E ratio of 5.31 and a beta of 0.98.

Sinopec Shanghai Petrochemical (NYSE:SHI) last released its earnings results on Monday, April 29th. The oil and gas company reported $0.90 earnings per share (EPS) for the quarter. Sinopec Shanghai Petrochemical had a return on equity of 13.90% and a net margin of 3.95%. The firm had revenue of $3.91 billion during the quarter. As a group, analysts anticipate that Sinopec Shanghai Petrochemical will post 7.11 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in SHI. BlackRock Inc. increased its holdings in Sinopec Shanghai Petrochemical by 6.3% in the 4th quarter. BlackRock Inc. now owns 69,413 shares of the oil and gas company’s stock worth $2,996,000 after acquiring an additional 4,111 shares during the last quarter. OLD Mission Capital LLC increased its holdings in Sinopec Shanghai Petrochemical by 162.8% in the 4th quarter. OLD Mission Capital LLC now owns 28,501 shares of the oil and gas company’s stock worth $1,230,000 after acquiring an additional 17,654 shares during the last quarter. Millennium Management LLC increased its holdings in Sinopec Shanghai Petrochemical by 104.6% in the 4th quarter. Millennium Management LLC now owns 87,326 shares of the oil and gas company’s stock worth $3,769,000 after acquiring an additional 44,641 shares during the last quarter. We Are One Seven LLC grew its holdings in Sinopec Shanghai Petrochemical by 84.0% during the 1st quarter. We Are One Seven LLC now owns 4,694 shares of the oil and gas company’s stock valued at $224,000 after buying an additional 2,143 shares in the last quarter. Finally, Bank of Montreal Can grew its holdings in Sinopec Shanghai Petrochemical by 7.5% during the 1st quarter. Bank of Montreal Can now owns 8,878 shares of the oil and gas company’s stock valued at $424,000 after buying an additional 619 shares in the last quarter. Hedge funds and other institutional investors own 1.82% of the company’s stock.

About Sinopec 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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Analyst Recommendations for Sinopec Shanghai Petrochemical (NYSE:SHI)

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