Sinopec Shanghai Petrochemical (SHI) Upgraded by Zacks Investment Research to “Strong-Buy”

Zacks Investment Research upgraded shares of Sinopec Shanghai Petrochemical (NYSE:SHI) from a hold rating to a strong-buy rating in a research report sent to investors on Thursday morning. The firm currently has $71.00 price target on the oil and gas company’s stock.

According to Zacks, “Shanghai Petrochemical Company Ltd. is a China’s largest petrochemical company. The Company processes crude oil into synthetic fibers, resins and plastics, intermediate petrochemicals and petroleum products. “

Sinopec Shanghai Petrochemical (NYSE:SHI) traded up $0.87 on Thursday, hitting $62.54. The stock had a trading volume of 37,761 shares, compared to its average volume of 24,667. The stock has a market capitalization of $10,040.00, a price-to-earnings ratio of 8.01 and a beta of 0.56. Sinopec Shanghai Petrochemical has a one year low of $50.67 and a one year high of $64.80.

Sinopec Shanghai Petrochemical (NYSE:SHI) last released its earnings results on Thursday, October 26th. The oil and gas company reported $2.13 earnings per share (EPS) for the quarter. Sinopec Shanghai Petrochemical had a return on equity of 21.00% and a net margin of 7.02%. equities analysts anticipate that Sinopec Shanghai Petrochemical will post 8.32 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SHI. Acadian Asset Management LLC purchased a new stake in shares of Sinopec Shanghai Petrochemical in the fourth quarter valued at $108,000. Van ECK Associates Corp purchased a new stake in shares of Sinopec Shanghai Petrochemical in the third quarter valued at $112,000. Citigroup Inc. lifted its holdings in shares of Sinopec Shanghai Petrochemical by 120.1% in the second quarter. Citigroup Inc. now owns 3,423 shares of the oil and gas company’s stock valued at $183,000 after purchasing an additional 1,868 shares in the last quarter. Cutler Investment Counsel LLC purchased a new stake in shares of Sinopec Shanghai Petrochemical in the third quarter valued at $222,000. Finally, Profund Advisors LLC purchased a new stake in shares of Sinopec Shanghai Petrochemical in the second quarter valued at $233,000. Institutional investors own 1.34% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Sinopec Shanghai Petrochemical (SHI) Upgraded by Zacks Investment Research to “Strong-Buy”” was originally reported by Ticker Report and is the sole property of of Ticker Report. If you are viewing this piece on another domain, it was copied illegally and republished in violation of US and international trademark & copyright laws. The correct version of this piece can be read at https://www.tickerreport.com/banking-finance/3148074/sinopec-shanghai-petrochemical-shi-upgraded-by-zacks-investment-research-to-strong-buy.html.

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.

Get a free copy of the Zacks research report on Sinopec Shanghai Petrochemical (SHI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Sinopec Shanghai Petrochemical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sinopec Shanghai Petrochemical and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


© 2006-2018 Ticker Report. Google+.