Sinopec Shanghai Petrochemical Company Limited (NYSE:SHI) Short Interest Up 25.0% in May

Sinopec Shanghai Petrochemical Company Limited (NYSE:SHIGet Rating) was the recipient of a significant growth in short interest during the month of May. As of May 15th, there was short interest totalling 4,000 shares, a growth of 25.0% from the April 30th total of 3,200 shares. Based on an average daily trading volume, of 15,700 shares, the days-to-cover ratio is presently 0.3 days.

Several hedge funds have recently modified their holdings of SHI. Arrowstreet Capital Limited Partnership lifted its holdings 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 valued at $3,348,000 after buying an additional 30,736 shares during the period. Jane Street Group LLC acquired a new position in shares of Sinopec Shanghai Petrochemical in the 3rd quarter valued at about $611,000. OLD Mission Capital LLC acquired a new position in shares of Sinopec Shanghai Petrochemical in the 3rd quarter valued at about $426,000. Millennium Management LLC acquired a new position in Sinopec Shanghai Petrochemical in the 2nd quarter worth about $325,000. Finally, Veriti Management LLC acquired a new position in Sinopec Shanghai Petrochemical in the 1st quarter worth about $270,000. 0.85% of the stock is owned by institutional investors and hedge funds.

SHI has been the subject of a number of research analyst reports. StockNews.com initiated coverage on Sinopec Shanghai Petrochemical in a research note on Sunday, May 8th. They issued a “buy” rating for the company. JPMorgan Chase & Co. cut Sinopec Shanghai Petrochemical from a “neutral” rating to an “underweight” rating in a research note on Tuesday, April 19th. Finally, Zacks Investment Research downgraded Sinopec Shanghai Petrochemical from a “hold” rating to a “sell” rating in a report on Tuesday, May 3rd.

Shares of Sinopec Shanghai Petrochemical stock opened at $19.50 on Wednesday. The stock has a market cap of $2.11 billion, a PE ratio of 6.57, a price-to-earnings-growth ratio of 0.52 and a beta of 0.60. The firm has a fifty day moving average price of $19.29 and a 200 day moving average price of $21.39. Sinopec Shanghai Petrochemical has a 1 year low of $17.25 and a 1 year high of $27.94. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.33 and a quick ratio of 0.95.

Sinopec Shanghai Petrochemical (NYSE:SHIGet Rating) last released its quarterly earnings data on Friday, April 29th. The oil and gas company reported $0.15 earnings per share for the quarter. The business had revenue of $4.28 billion during the quarter. Sinopec Shanghai Petrochemical had a return on equity of 6.85% and a net margin of 2.32%. As a group, equities analysts expect that Sinopec Shanghai Petrochemical will post 2.58 EPS for the current year.

The business also recently disclosed an annual dividend, which will be paid on Monday, August 8th. Stockholders of record on Tuesday, June 28th will be issued a $1.571 dividend. This represents a dividend yield of 6.6%. The ex-dividend date of this dividend is Monday, June 27th. This is a boost from Sinopec Shanghai Petrochemical’s previous annual dividend of $1.53. Sinopec Shanghai Petrochemical’s payout ratio is 45.45%.

Sinopec Shanghai Petrochemical Company Profile (Get Rating)

Sinopec Shanghai Petrochemical Company Limited, together with its subsidiaries, manufactures and sells petroleum 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.

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