Zacks Investment Research Lowers Sinopec Shanghai Petrochemical (SHI) to Hold

Zacks Investment Research lowered shares of Sinopec Shanghai Petrochemical (NYSE:SHI) from a buy rating to a hold rating in a report released on Tuesday morning.

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. “

How to Become a New Pot Stock Millionaire

A number of other brokerages have also recently issued reports on SHI. Citigroup raised shares of Sinopec Shanghai Petrochemical from a sell rating to a buy rating in a research note on Tuesday, February 27th. ValuEngine cut shares of Sinopec Shanghai Petrochemical from a strong-buy rating to a buy rating in a research note on Friday, February 2nd. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Sinopec Shanghai Petrochemical presently has a consensus rating of Buy and a consensus target price of $68.00.

Shares of SHI stock opened at $62.08 on Tuesday. Sinopec Shanghai Petrochemical has a 52-week low of $50.67 and a 52-week high of $64.43. The company has a market capitalization of $6,728.40, a price-to-earnings ratio of 7.66 and a beta of 0.65.

The company also recently declared an annual dividend, which will be paid on Monday, July 23rd. Stockholders of record on Tuesday, June 19th will be given a dividend of $4.7647 per share. This represents a dividend yield of 7.91%. This is a boost from Sinopec Shanghai Petrochemical’s previous annual dividend of $3.63. The ex-dividend date is Monday, June 18th. Sinopec Shanghai Petrochemical’s dividend payout ratio (DPR) is currently 39.23%.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James & Associates boosted its position in shares of Sinopec Shanghai Petrochemical by 14.3% during the fourth 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 in the last quarter. Deutsche Bank AG boosted its position in shares of Sinopec Shanghai Petrochemical by 3.3% during the fourth 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 in the last quarter. Acadian Asset Management LLC bought a new position in shares of Sinopec Shanghai Petrochemical during the fourth quarter worth $108,000. Wells Fargo & Company MN boosted its position in shares of Sinopec Shanghai Petrochemical by 1.3% during the fourth quarter. Wells Fargo & Company MN now owns 164,908 shares of the oil and gas company’s stock worth $9,400,000 after purchasing an additional 2,124 shares in the last quarter. Finally, We Are One Seven LLC bought a new position in shares of Sinopec Shanghai Petrochemical during the fourth quarter worth $128,000. 1.35% of the stock is currently owned by institutional investors.

TRADEMARK VIOLATION NOTICE: “Zacks Investment Research Lowers Sinopec Shanghai Petrochemical (SHI) to Hold” was originally posted by Ticker Report and is the sole property of of Ticker Report. If you are reading this piece on another publication, it was stolen and republished in violation of US & international copyright and trademark law. The original version of this piece can be viewed at https://www.tickerreport.com/banking-finance/3335359/zacks-investment-research-lowers-sinopec-shanghai-petrochemical-shi-to-hold.html.

About Sinopec Shanghai 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.

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

James River Group  Upgraded to Hold by BidaskClub
James River Group Upgraded to Hold by BidaskClub
MGM Growth Properties  Stock Rating Upgraded by Zacks Investment Research
MGM Growth Properties Stock Rating Upgraded by Zacks Investment Research
PulteGroup  Upgraded to “Buy” by B. Riley
PulteGroup Upgraded to “Buy” by B. Riley
Nexeo Solutions  Lowered to “Hold” at Zacks Investment Research
Nexeo Solutions Lowered to “Hold” at Zacks Investment Research
The Walt Disney  Upgraded to “Market Perform” by BMO Capital Markets
The Walt Disney Upgraded to “Market Perform” by BMO Capital Markets
STMicroelectronics  Posts  Earnings Results, Beats Estimates By $0.01 EPS
STMicroelectronics Posts Earnings Results, Beats Estimates By $0.01 EPS


© 2006-2018 Ticker Report. Google+.