Sinopec Shanghai Petrochemical (SHI) Upgraded to Strong-Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Sinopec Shanghai Petrochemical (NYSE:SHI) from a hold rating to a strong-buy rating in a research report report published on Thursday morning. They currently have $71.00 target price 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 (SHI) opened at $62.54 on Thursday. The firm has a market cap of $6,754.32, a price-to-earnings ratio of 7.69 and a beta of 0.55. Sinopec Shanghai Petrochemical has a 52-week low of $50.67 and a 52-week 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 for the quarter. Sinopec Shanghai Petrochemical had a net margin of 6.51% and a return on equity of 22.93%. equities research analysts anticipate that Sinopec Shanghai Petrochemical will post 8.32 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN lifted its position in Sinopec Shanghai Petrochemical by 4.7% during the 3rd quarter. Wells Fargo & Company MN now owns 162,784 shares of the oil and gas company’s stock worth $9,738,000 after acquiring an additional 7,323 shares during the last quarter. Eqis Capital Management Inc. acquired a new position in Sinopec Shanghai Petrochemical during the 3rd quarter worth $274,000. Aperio Group LLC lifted its position in Sinopec Shanghai Petrochemical by 18.4% during the 3rd quarter. Aperio Group LLC now owns 35,574 shares of the oil and gas company’s stock worth $2,128,000 after acquiring an additional 5,535 shares during the last quarter. Northern Trust Corp lifted its position in Sinopec Shanghai Petrochemical by 5.8% during the 2nd quarter. Northern Trust Corp now owns 49,225 shares of the oil and gas company’s stock worth $2,635,000 after acquiring an additional 2,702 shares during the last quarter. Finally, BB&T Investment Services Inc. acquired a new position in Sinopec Shanghai Petrochemical during the 3rd quarter worth $550,000. 1.34% of the stock is owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY NOTICE: This report was originally published by Community Financial News and is the sole property of of Community Financial News. If you are reading this report on another domain, it was illegally stolen and republished in violation of international copyright & trademark laws. The legal version of this report can be viewed at https://www.com-unik.info/2018/01/21/sinopec-shanghai-petrochemical-shi-upgraded-to-strong-buy-at-zacks-investment-research.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.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit