Zacks: SINOPEC Shangai Petrochemical Company, Ltd. (SHI) Given $71.40 Average Price Target by Brokerages

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

Brokerages have set a 1-year consensus target price of $71.40 for the company, according to Zacks. Zacks has also assigned SINOPEC Shangai Petrochemical Company an industry rank of 25 out of 265 based on the ratings given to its competitors.

Several equities analysts have recently issued reports on SHI shares. Zacks Investment Research raised shares of SINOPEC Shangai Petrochemical Company from a “hold” rating to a “strong-buy” rating and set a $66.00 price target for the company in a report on Saturday, March 18th. Citigroup Inc. downgraded shares of SINOPEC Shangai Petrochemical Company from a “neutral” rating to a “sell” rating in a report on Thursday, June 1st.

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Shares of SINOPEC Shangai Petrochemical Company (NYSE SHI) traded up 1.3759% during mid-day trading on Thursday, reaching $51.6206. 18,639 shares of the company were exchanged. The company’s 50-day moving average is $56.51 and its 200 day moving average is $57.61. The firm has a market capitalization of $5.56 billion, a price-to-earnings ratio of 5.6109 and a beta of 0.44. SINOPEC Shangai Petrochemical Company has a 12 month low of $42.64 and a 12 month high of $64.80.

The firm also recently announced an annual dividend, which will be paid on Monday, July 24th. Stockholders of record on Monday, June 19th will be issued a $3.6279 dividend. This is an increase from SINOPEC Shangai Petrochemical Company’s previous annual dividend of $1.32. The ex-dividend date of this dividend is Thursday, June 15th. This represents a dividend yield of 6.43%. SINOPEC Shangai Petrochemical Company’s dividend payout ratio is currently 48.81%.

Several institutional investors have recently modified their holdings of SHI. UBS Group AG increased its position in shares of SINOPEC Shangai Petrochemical Company by 121.8% in the first quarter. UBS Group AG now owns 21,298 shares of the oil and gas company’s stock worth $1,188,000 after buying an additional 11,694 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of SINOPEC Shangai Petrochemical Company by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 46,569 shares of the oil and gas company’s stock worth $2,597,000 after buying an additional 400 shares in the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of SINOPEC Shangai Petrochemical Company by 11,439.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 3,231 shares of the oil and gas company’s stock worth $180,000 after buying an additional 3,203 shares in the last quarter. Oxford Asset Management increased its position in shares of SINOPEC Shangai Petrochemical Company by 94.5% in the first quarter. Oxford Asset Management now owns 25,175 shares of the oil and gas company’s stock worth $1,404,000 after buying an additional 12,233 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its position in shares of SINOPEC Shangai Petrochemical Company by 64.7% in the first 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 in the last quarter. Institutional investors own 1.03% of the company’s stock.

SINOPEC Shangai Petrochemical Company 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “SHI”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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