SINOPEC Shangai Petrochemical Company, Ltd. (NYSE:SHI) has been assigned a consensus broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold rating and one has assigned a strong buy rating to the company.

Brokers have set a 1-year consensus price target of $71.40 for the company, according to Zacks. Zacks has also assigned SINOPEC Shangai Petrochemical Company an industry rank of 37 out of 265 based on the ratings given to related companies.

A number of brokerages recently weighed in on SHI. BidaskClub raised shares of SINOPEC Shangai Petrochemical Company from a “hold” rating to a “buy” rating in a report on Wednesday. Citigroup Inc. downgraded shares of SINOPEC Shangai Petrochemical Company from a “neutral” rating to a “sell” rating in a report on Thursday, June 1st. Finally, Zacks Investment Research downgraded shares of SINOPEC Shangai Petrochemical Company from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 17th.

Shares of SINOPEC Shangai Petrochemical Company (NYSE:SHI) traded up 2.18% during trading on Thursday, hitting $55.42. 35,158 shares of the stock traded hands. SINOPEC Shangai Petrochemical Company has a 1-year low of $44.95 and a 1-year high of $64.80. The stock has a market cap of $5.97 billion, a price-to-earnings ratio of 6.02 and a beta of 0.47. The stock has a 50 day moving average price of $55.57 and a 200-day moving average price of $57.49.

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A number of large investors have recently made changes to their positions in the stock. Wells Fargo & Company MN boosted its stake in shares of SINOPEC Shangai Petrochemical Company by 15,010,600.0% in the first quarter. Wells Fargo & Company MN now owns 150,107 shares of the oil and gas company’s stock worth $8,371,000 after buying an additional 150,106 shares in the last quarter. Renaissance Group LLC boosted its stake in shares of SINOPEC Shangai Petrochemical Company by 126.6% in the first quarter. Renaissance Group LLC now owns 221,117 shares of the oil and gas company’s stock worth $12,329,000 after buying an additional 123,520 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of SINOPEC Shangai Petrochemical Company 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 in the last quarter. Bank of America Corp DE boosted its stake in shares of SINOPEC Shangai Petrochemical Company by 204.4% in the first quarter. Bank of America Corp DE now owns 90,313 shares of the oil and gas company’s stock worth $5,035,000 after buying an additional 60,646 shares in the last quarter. Finally, Karp Capital Management Corp purchased a new stake in shares of SINOPEC Shangai Petrochemical Company during the first quarter worth about $1,566,000. Institutional investors and hedge funds own 1.03% of the company’s stock.

About SINOPEC Shangai Petrochemical Company

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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