Sinopec Shanghai Petrochemical (NYSE:SHI) Downgraded by JPMorgan Chase & Co.

Sinopec Shanghai Petrochemical (NYSE:SHIGet Rating) was downgraded by JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research note issued to investors on Tuesday, The Fly reports.

Separately, StockNews.com began coverage on shares of Sinopec Shanghai Petrochemical in a research note on Thursday, April 14th. They issued a “buy” rating for the company.

Shares of Sinopec Shanghai Petrochemical stock opened at $19.40 on Tuesday. Sinopec Shanghai Petrochemical has a 52-week low of $18.20 and a 52-week high of $27.94. The stock has a market cap of $2.10 billion, a PE ratio of 4.23 and a beta of 0.58. The firm has a fifty day simple moving average of $21.09. The company has a quick ratio of 1.07, a current ratio of 1.46 and a debt-to-equity ratio of 0.02.

A number of institutional investors and hedge funds have recently made changes to their positions in SHI. Cambria Investment Management L.P. raised its holdings in Sinopec Shanghai Petrochemical by 11.6% in the 4th quarter. Cambria Investment Management L.P. now owns 16,474 shares of the oil and gas company’s stock worth $375,000 after purchasing an additional 1,715 shares in the last quarter. OLD Mission Capital LLC bought a new position in shares of Sinopec Shanghai Petrochemical in the 3rd quarter worth about $426,000. Jane Street Group LLC bought a new position in shares of Sinopec Shanghai Petrochemical in the 3rd quarter worth about $611,000. Citadel Advisors LLC increased its stake in shares of Sinopec Shanghai Petrochemical by 91.2% in the 2nd quarter. Citadel Advisors LLC now owns 20,013 shares of the oil and gas company’s stock worth $468,000 after acquiring an additional 9,546 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Sinopec Shanghai Petrochemical by 28.6% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 138,301 shares of the oil and gas company’s stock worth $3,348,000 after acquiring an additional 30,736 shares in the last quarter. 0.91% of the stock is owned by institutional investors and hedge funds.

Sinopec Shanghai Petrochemical Company Profile (Get Rating)

Sinopec Shanghai Petrochemical Company Limited, together with its subsidiaries, manufactures and sells petrochemical products in the People's Republic of China. It operates through five segments: Synthetic Fibers, Resins and Plastics, Intermediate Petrochemicals, Petroleum Products, and Trading of Petrochemical Products.

Further Reading

The Fly logo

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.