Sinopec Shanghai Petrochemical (NYSE:SHI) Shares Gap Down to $26.10

Sinopec Shanghai Petrochemical Company Limited (NYSE:SHI)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $26.10, but opened at $24.68. Sinopec Shanghai Petrochemical shares last traded at $24.68, with a volume of 1 shares.

Separately, Zacks Investment Research downgraded Sinopec Shanghai Petrochemical from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 31st.

The company has a market cap of $2.66 billion, a price-to-earnings ratio of 4.94 and a beta of 0.75. The firm has a fifty day moving average price of $22.66 and a 200 day moving average price of $23.95.

Sinopec Shanghai Petrochemical (NYSE:SHI) last announced its quarterly earnings results on Friday, August 27th. The oil and gas company reported $0.11 earnings per share (EPS) for the quarter. Sinopec Shanghai Petrochemical had a return on equity of 12.36% and a net margin of 4.69%. The business had revenue of $2.59 billion during the quarter. As a group, equities analysts expect that Sinopec Shanghai Petrochemical Company Limited will post 4.62 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the business. O Shaughnessy Asset Management LLC lifted its holdings in Sinopec Shanghai Petrochemical by 3.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 22,004 shares of the oil and gas company’s stock valued at $520,000 after purchasing an additional 749 shares during the last quarter. Cambria Investment Management L.P. increased its position in Sinopec Shanghai Petrochemical by 9.4% during the 2nd quarter. Cambria Investment Management L.P. now owns 12,015 shares of the oil and gas company’s stock worth $281,000 after buying an additional 1,029 shares during the period. Bank of America Corp DE increased its position in Sinopec Shanghai Petrochemical by 41.7% during the 2nd quarter. Bank of America Corp DE now owns 5,375 shares of the oil and gas company’s stock worth $126,000 after buying an additional 1,581 shares during the period. Natixis Advisors L.P. increased its position in Sinopec Shanghai Petrochemical by 16.0% during the 2nd quarter. Natixis Advisors L.P. now owns 51,413 shares of the oil and gas company’s stock worth $1,202,000 after buying an additional 7,084 shares during the period. Finally, Citadel Advisors LLC increased its position in Sinopec Shanghai Petrochemical by 91.2% during the 2nd quarter. Citadel Advisors LLC now owns 20,013 shares of the oil and gas company’s stock worth $468,000 after buying an additional 9,546 shares during the period. 1.05% of the stock is owned by institutional investors and hedge funds.

Sinopec Shanghai Petrochemical Company Profile (NYSE:SHI)

Sinopec Shanghai Petrochemical Company Limited, together with its subsidiaries, manufactures and sells petrochemical products in the People's Republic of China. It operates through five segments: Synthetic Fibers, Resins and Plastics, Intermediate Petrochemicals, Petroleum Products, and Trading of Petrochemical Products.

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