Sinopec Shanghai Petrochemical (NYSE:SHI) Shares Gap Up to $23.44

Sinopec Shanghai Petrochemical Company Limited (NYSE:SHI) shares gapped up prior to trading on Thursday . The stock had previously closed at $23.44, but opened at $24.34. Sinopec Shanghai Petrochemical shares last traded at $24.25, with a volume of 221 shares trading hands.

Separately, Zacks Investment Research downgraded Sinopec Shanghai Petrochemical from a “strong-buy” rating to a “sell” rating in a research note on Wednesday, March 31st.

The business’s fifty day simple moving average is $24.19 and its 200-day simple moving average is $21.73. The firm has a market cap of $2.59 billion, a P/E ratio of 781.59 and a beta of 0.79.

The business also recently announced an annual dividend, which will be paid on Friday, July 30th. Investors of record on Monday, June 21st will be given a $1.5282 dividend. The ex-dividend date of this dividend is Friday, June 18th. This is a positive change from Sinopec Shanghai Petrochemical’s previous annual dividend of $1.48. This represents a yield of 6.1%. Sinopec Shanghai Petrochemical’s payout ratio is 50.52%.

A number of large investors have recently made changes to their positions in SHI. Aperio Group LLC grew its position in Sinopec Shanghai Petrochemical by 34.1% in the fourth quarter. Aperio Group LLC now owns 202,147 shares of the oil and gas company’s stock worth $4,160,000 after acquiring an additional 51,385 shares in the last quarter. Jane Street Group LLC boosted its position in Sinopec Shanghai Petrochemical by 211.3% during the third quarter. Jane Street Group LLC now owns 73,865 shares of the oil and gas company’s stock valued at $1,356,000 after buying an additional 50,139 shares during the period. Virtus ETF Advisers LLC boosted its position in Sinopec Shanghai Petrochemical by 55.6% during the fourth quarter. Virtus ETF Advisers LLC now owns 75,880 shares of the oil and gas company’s stock valued at $1,562,000 after buying an additional 27,126 shares during the period. OLD Mission Capital LLC purchased a new stake in Sinopec Shanghai Petrochemical during the third quarter valued at about $426,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Sinopec Shanghai Petrochemical during the third quarter valued at about $384,000.

About Sinopec Shanghai Petrochemical (NYSE:SHI)

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 Fibres, Resins and Plastics, Intermediate Petrochemical Products, Petroleum Products, and Trading of Petrochemical Products.

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