BB&T Investment Services Inc. Takes $550,000 Position in SINOPEC Shangai Petrochemical Company, Ltd. (SHI)

BB&T Investment Services Inc. purchased a new stake in SINOPEC Shangai Petrochemical Company, Ltd. (NYSE:SHI) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,200 shares of the oil and gas company’s stock, valued at approximately $550,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Renaissance Group LLC raised its holdings in SINOPEC Shangai Petrochemical by 7.9% in the third quarter. Renaissance Group LLC now owns 243,026 shares of the oil and gas company’s stock valued at $14,538,000 after acquiring an additional 17,842 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of SINOPEC Shangai Petrochemical by 4.7% during the third quarter. Wells Fargo & Company MN now owns 162,784 shares of the oil and gas company’s stock worth $9,738,000 after purchasing an additional 7,323 shares during the period. AJO LP raised its holdings in shares of SINOPEC Shangai Petrochemical by 84.4% during the second quarter. AJO LP now owns 101,206 shares of the oil and gas company’s stock worth $5,416,000 after purchasing an additional 46,311 shares during the period. Freestone Capital Holdings LLC raised its holdings in shares of SINOPEC Shangai Petrochemical by 19.1% during the second quarter. Freestone Capital Holdings LLC now owns 70,217 shares of the oil and gas company’s stock worth $3,757,000 after purchasing an additional 11,254 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of SINOPEC Shangai Petrochemical by 5.8% during the second quarter. Northern Trust Corp now owns 49,225 shares of the oil and gas company’s stock worth $2,635,000 after purchasing an additional 2,702 shares during the period. 1.34% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have weighed in on the stock. BidaskClub raised shares of SINOPEC Shangai Petrochemical from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 9th. Instinet raised shares of SINOPEC Shangai Petrochemical from a “reduce” rating to a “neutral” rating in a report on Wednesday, August 9th. Finally, ValuEngine raised shares of SINOPEC Shangai Petrochemical from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy”.

SINOPEC Shangai Petrochemical Company, Ltd. (NYSE:SHI) traded up $0.19 during trading on Tuesday, hitting $58.07. 11,000 shares of the stock traded hands, compared to its average volume of 23,912. The company has a market capitalization of $6,251.04, a price-to-earnings ratio of 7.79, a P/E/G ratio of 0.78 and a beta of 0.53. SINOPEC Shangai Petrochemical Company, Ltd. has a fifty-two week low of $50.67 and a fifty-two week high of $64.80.

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About SINOPEC Shangai 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.

Institutional Ownership by Quarter for SINOPEC Shangai Petrochemical (NYSE:SHI)

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