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. The Synthetic Fibers segment produces polyesters, acrylic fibers, and carbon fibers that are primarily used in the textile and apparel industries. The Resins and Plastics segment produces polyester chips that are used to produce polyester fibers, coating, and containers; polyethylene resins and plastics, which are used to produce insulated cables and mulching films, as well as molded products, such as housewares and toys; and polypropylene resins that are used for films and sheets, as well as molded products, such as housewares, toys, consumer electronics, and automobile parts; and PVA granules. The Intermediate Petrochemicals segment produces p-xylene, benzene, and ethylene oxide, which are used as raw materials in the production of other petrochemicals, resins, plastics, and synthetic fibers. The Petroleum Products segment operates crude oil refinery facilities used to produce refined gasoline, fuel, diesel oil, heavy oil, and liquefied petroleum gas. The Trading of Petrochemical Products segment is involved in the import and export of petrochemical products. The company was founded in 1972 and is based in Shanghai, the People's Republic of China. Sinopec Shanghai Petrochemical Company Limited is a subsidiary of China Petroleum & Chemical Corporation.
Sinopec Shanghai Petrochemical Stock Performance
SHI traded down $0.17 during midday trading on Friday, reaching $15.94. The company had a trading volume of 139,914 shares, compared to its average volume of 15,728. The company has a quick ratio of 0.95, a current ratio of 1.33 and a debt-to-equity ratio of 0.02. The business has a 50-day moving average of $17.36 and a two-hundred day moving average of $19.35. The company has a market cap of $1.73 billion, a P/E ratio of 5.27, a P/E/G ratio of 0.44 and a beta of 0.55. Sinopec Shanghai Petrochemical has a 1 year low of $15.36 and a 1 year high of $27.94.
Analyst Upgrades and Downgrades
SHI has been the subject of a number of research reports. Morgan Stanley cut Sinopec Shanghai Petrochemical from an "overweight" rating to an "equal weight" rating in a research report on Tuesday, June 28th. StockNews.com initiated coverage on Sinopec Shanghai Petrochemical in a research report on Sunday, May 8th. They set a "buy" rating for the company. Finally, JPMorgan Chase & Co. cut Sinopec Shanghai Petrochemical from a "neutral" rating to an "underweight" rating in a research report on Tuesday, April 19th.