Wells Fargo & Company MN Purchases 7,323 Shares of Sinopec Shanghai Petrochemical Co. (SHI)
Wells Fargo & Company MN raised its position in Sinopec Shanghai Petrochemical Co. (NYSE:SHI) by 4.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 162,784 shares of the oil and gas company’s stock after acquiring an additional 7,323 shares during the quarter. Wells Fargo & Company MN owned approximately 0.15% of Sinopec Shanghai Petrochemical worth $9,738,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the stock. Van ECK Associates Corp purchased a new position in Sinopec Shanghai Petrochemical in the third quarter worth approximately $112,000. Yorktown Management & Research Co Inc purchased a new position in Sinopec Shanghai Petrochemical in the third quarter worth approximately $239,000. Renaissance Group LLC lifted its position in shares of Sinopec Shanghai Petrochemical by 7.9% during the 3rd quarter. Renaissance Group LLC now owns 243,026 shares of the oil and gas company’s stock worth $14,538,000 after buying an additional 17,842 shares during the last quarter. Cutler Investment Counsel LLC purchased a new stake in shares of Sinopec Shanghai Petrochemical during the 3rd quarter worth approximately $222,000. Finally, Aperio Group LLC lifted its position in shares of 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 buying an additional 5,535 shares during the last quarter. Institutional investors own 1.34% of the company’s stock.
Separately, ValuEngine upgraded shares of Sinopec Shanghai Petrochemical from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy”.
Shares of Sinopec Shanghai Petrochemical Co. (SHI) opened at $57.68 on Thursday. The firm has a market cap of $6,286.68, a P/E ratio of 7.09 and a beta of 0.53. Sinopec Shanghai Petrochemical Co. has a 12-month low of $50.67 and a 12-month high of $64.80.
Sinopec Shanghai Petrochemical 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.
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