Yorktown Management & Research Co Inc Invests $495,000 in Sinopec Shanghai Petrochemical Co. (NYSE:SHI)

Yorktown Management & Research Co Inc bought a new position in Sinopec Shanghai Petrochemical Co. (NYSE:SHI) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 12,400 shares of the oil and gas company’s stock, valued at approximately $495,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Signaturefd LLC boosted its position in Sinopec Shanghai Petrochemical by 28.8% during the second quarter. Signaturefd LLC now owns 1,917 shares of the oil and gas company’s stock worth $77,000 after purchasing an additional 429 shares in the last quarter. Parallel Advisors LLC boosted its position in Sinopec Shanghai Petrochemical by 1,098.1% during the first quarter. Parallel Advisors LLC now owns 635 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 582 shares in the last quarter. Bank of Montreal Can boosted its position in Sinopec Shanghai Petrochemical by 7.5% during the first quarter. Bank of Montreal Can now owns 8,878 shares of the oil and gas company’s stock worth $424,000 after purchasing an additional 619 shares in the last quarter. We Are One Seven LLC boosted its position in Sinopec Shanghai Petrochemical by 22.5% during the second quarter. We Are One Seven LLC now owns 5,751 shares of the oil and gas company’s stock worth $229,000 after purchasing an additional 1,057 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in shares of Sinopec Shanghai Petrochemical by 82.8% during the first quarter. Quadrant Capital Group LLC now owns 2,888 shares of the oil and gas company’s stock valued at $137,000 after acquiring an additional 1,308 shares during the last quarter. Hedge funds and other institutional investors own 1.62% of the company’s stock.

A number of brokerages have commented on SHI. Zacks Investment Research raised Sinopec Shanghai Petrochemical from a “hold” rating to a “strong-buy” rating and set a $43.00 target price for the company in a report on Wednesday, July 17th. Citigroup raised Sinopec Shanghai Petrochemical from a “sell” rating to a “buy” rating in a report on Tuesday, May 14th. Finally, JPMorgan Chase & Co. cut Sinopec Shanghai Petrochemical from an “overweight” rating to an “underweight” rating in a report on Monday, June 10th. Three research analysts have rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $43.00.

Shares of Sinopec Shanghai Petrochemical stock traded up $1.13 during mid-day trading on Monday, reaching $31.17. 1,571 shares of the stock traded hands, compared to its average volume of 48,001. The business has a 50-day moving average of $35.80 and a 200 day moving average of $44.00. Sinopec Shanghai Petrochemical Co. has a fifty-two week low of $29.89 and a fifty-two week high of $61.33. The stock has a market capitalization of $3.31 billion, a PE ratio of 4.34 and a beta of 1.00.

About Sinopec Shanghai Petrochemical

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

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Institutional Ownership by Quarter for Sinopec Shanghai Petrochemical (NYSE:SHI)

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