SINOPEC Shangai Petrochemical Company, Ltd. (SHI) Receives Average Rating of “Buy” from …

0
11

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

Analysts have set a 1-year consensus price target 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 related companies.

Several equities analysts recently commented on the stock. Citigroup Inc. cut shares of SINOPEC Shangai Petrochemical Company from a “neutral” rating to a “sell” rating in a research note on Thursday, June 1st. Zacks Investment Research cut shares of SINOPEC Shangai Petrochemical Company from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 17th.

ILLEGAL ACTIVITY WARNING: This story was first published by Transcript Daily and is the property of of Transcript Daily. If you are accessing this story on another website, it was copied illegally and republished in violation of US & international copyright laws. The original version of this story can be read at https://transcriptdaily.com/2017/06/18/sinopec-shangai-petrochemical-company-ltd-shi-receives-average-rating-of-buy-from-brokerages.html.

SINOPEC Shangai Petrochemical Company (SHI) traded up 0.52% during midday trading on Thursday, reaching $52.27. 27,922 shares of the company traded hands. SINOPEC Shangai Petrochemical Company has a 12 month low of $42.64 and a 12 month high of $64.80. The stock has a market capitalization of $5.63 billion, a price-to-earnings ratio of 5.74 and a beta of 0.44. The firm has a 50 day moving average of $56.66 and a 200-day moving average of $57.55.

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

A number of institutional investors have recently added to or reduced their stakes in SHI. Dimensional Fund Advisors LP boosted its position in 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 valued at $2,597,000 after buying an additional 400 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its position in 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 valued at $180,000 after buying an additional 3,203 shares during the last quarter. Bank of Montreal Can bought a new position in SINOPEC Shangai Petrochemical Company during the first quarter valued at approximately $192,000. U S Global Investors Inc bought a new position in SINOPEC Shangai Petrochemical Company during the first quarter valued at approximately $234,000. Finally, Fulton Bank N.A. bought a new position in SINOPEC Shangai Petrochemical Company during the first quarter valued at approximately $334,000. Hedge funds and other 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.

Get a free copy of the Zacks research report on SINOPEC Shangai Petrochemical Company (SHI)

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




Receive News & Ratings for SINOPEC Shangai Petrochemical Company Ltd. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for SINOPEC Shangai Petrochemical Company Ltd. and related companies with MarketBeat.com’s FREE daily email newsletter.


Source: Google Alert – petrochemicals