Shares of Sinopec Shanghai Petrochemical Co. (NYSE:SHI) have been assigned an average rating of “Buy” from the six brokerages that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company.

SHI has been the topic of a number of analyst reports. Citigroup raised shares of Sinopec Shanghai Petrochemical from a “sell” rating to a “buy” rating in a research report on Tuesday, February 27th. ValuEngine downgraded shares of Sinopec Shanghai Petrochemical from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Zacks Investment Research downgraded shares of Sinopec Shanghai Petrochemical from a “strong-buy” rating to a “hold” rating in a research report on Saturday.

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Shares of Sinopec Shanghai Petrochemical stock traded up $2.00 during trading on Tuesday, hitting $62.25. 19,726 shares of the stock were exchanged, compared to its average volume of 36,175. Sinopec Shanghai Petrochemical has a 52-week low of $50.67 and a 52-week high of $64.43. The stock has a market cap of $6,621.48, a P/E ratio of 7.41 and a beta of 0.65.

A number of large investors have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. grew its position in Sinopec Shanghai Petrochemical by 9.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,425 shares of the oil and gas company’s stock worth $238,000 after purchasing an additional 389 shares during the last quarter. Raymond James & Associates grew its position in Sinopec Shanghai Petrochemical by 14.3% during the 4th quarter. Raymond James & Associates now owns 6,891 shares of the oil and gas company’s stock worth $393,000 after purchasing an additional 863 shares during the last quarter. Deutsche Bank AG grew its position in Sinopec Shanghai Petrochemical by 3.3% during the 4th quarter. Deutsche Bank AG now owns 30,290 shares of the oil and gas company’s stock worth $1,726,000 after purchasing an additional 958 shares during the last quarter. Van ECK Associates Corp purchased a new stake in Sinopec Shanghai Petrochemical during the 3rd quarter worth approximately $112,000. Finally, Acadian Asset Management LLC purchased a new stake in Sinopec Shanghai Petrochemical during the 4th quarter worth approximately $108,000. 1.35% of the stock is currently owned by institutional investors.

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Sinopec Shanghai Petrochemical Company 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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