Freestone Capital Holdings LLC boosted its holdings in SINOPEC Shangai Petrochemical Company, Ltd. (NYSE:SHI) by 19.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,217 shares of the oil and gas company’s stock after buying an additional 11,254 shares during the quarter. Freestone Capital Holdings LLC owned approximately 0.07% of SINOPEC Shangai Petrochemical worth $3,757,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of SHI. Wells Fargo & Company MN increased its position in SINOPEC Shangai Petrochemical by 15,010,600.0% during the 1st quarter. Wells Fargo & Company MN now owns 150,107 shares of the oil and gas company’s stock valued at $8,371,000 after purchasing an additional 150,106 shares during the period. Renaissance Technologies LLC grew its position in shares of SINOPEC Shangai Petrochemical by 251.9% during the 1st 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 during the period. Bank of America Corp DE grew its position in shares of SINOPEC Shangai Petrochemical by 204.4% during the 1st 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 during the period. Karp Capital Management Corp acquired a new stake in shares of SINOPEC Shangai Petrochemical during the 1st quarter worth approximately $1,566,000. Finally, Parametric Portfolio Associates LLC grew its position in shares of SINOPEC Shangai Petrochemical by 64.7% during the 1st quarter. Parametric Portfolio Associates LLC now owns 36,683 shares of the oil and gas company’s stock worth $2,045,000 after buying an additional 14,414 shares during the period. Institutional investors and hedge funds own 1.08% of the company’s stock.

Several brokerages have recently commented on SHI. BidaskClub raised shares of SINOPEC Shangai Petrochemical from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 9th. Instinet upgraded SINOPEC Shangai Petrochemical from a “reduce” rating to a “neutral” rating in a research note on Wednesday, August 9th. ValuEngine upgraded SINOPEC Shangai Petrochemical from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Nomura upgraded SINOPEC Shangai Petrochemical to a “neutral” rating in a research note on Thursday, August 3rd. Finally, Citigroup Inc. cut SINOPEC Shangai Petrochemical from a “neutral” rating to a “sell” rating in a research note on Thursday, June 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $66.00.

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SINOPEC Shangai Petrochemical Company, Ltd. (NYSE SHI) opened at 60.64 on Thursday. The stock has a market cap of $6.59 billion, a price-to-earnings ratio of 8.09 and a beta of 0.48. SINOPEC Shangai Petrochemical Company, Ltd. has a 12-month low of $48.82 and a 12-month high of $64.80. The firm’s 50-day moving average price is $59.24 and its 200-day moving average price is $57.37.

About SINOPEC Shangai Petrochemical

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 Shangai Petrochemical (NYSE:SHI)

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