Shell (NYSE:SHEL) Price Target Cut to $84.00 by Analysts at Wells Fargo & Company

Shell (NYSE:SHEL) had its price objective decreased by Wells Fargo & Company from $88.00 to $84.00 in a research note issued to investors on Friday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the energy company’s stock.

SHEL has been the topic of a number of other reports. Argus raised their price objective on shares of Shell from $77.00 to $79.00 and gave the company a buy rating in a research note on Thursday, June 6th. Wolfe Research began coverage on Shell in a report on Thursday, July 18th. They set a peer perform rating for the company. Berenberg Bank upgraded Shell to a strong-buy rating in a report on Monday, August 5th. Royal Bank of Canada upgraded Shell to a moderate buy rating in a research note on Tuesday, July 30th. Finally, Scotiabank reduced their target price on shares of Shell from $95.00 to $90.00 and set a sector outperform rating for the company in a research note on Friday, July 12th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $83.50.

Shell Stock Performance

NYSE:SHEL opened at $65.98 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.41 and a debt-to-equity ratio of 0.35. Shell has a twelve month low of $60.34 and a twelve month high of $74.61. The company has a fifty day moving average of $70.35 and a 200-day moving average of $70.81. The firm has a market capitalization of $206.57 billion, a P/E ratio of 12.14, a P/E/G ratio of 1.60 and a beta of 0.57.

Shell (NYSE:SHEL) last issued its earnings results on Thursday, August 1st. The energy company reported $1.97 EPS for the quarter, beating the consensus estimate of $1.82 by $0.15. The company had revenue of $75.06 billion during the quarter, compared to the consensus estimate of $88.62 billion. Shell had a return on equity of 14.56% and a net margin of 5.97%. During the same period last year, the business posted $1.50 EPS. As a group, sell-side analysts anticipate that Shell will post 8.44 EPS for the current year.

Shell Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, August 16th were issued a dividend of $0.688 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.75 dividend on an annualized basis and a yield of 4.17%. Shell’s dividend payout ratio (DPR) is presently 50.74%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Lazard Asset Management LLC grew its holdings in Shell by 21.0% during the first quarter. Lazard Asset Management LLC now owns 44,896 shares of the energy company’s stock valued at $3,009,000 after purchasing an additional 7,779 shares during the period. Raymond James & Associates raised its stake in Shell by 65.7% in the 2nd quarter. Raymond James & Associates now owns 1,698,247 shares of the energy company’s stock valued at $122,579,000 after acquiring an additional 673,624 shares during the period. Foresight Global Investors Inc. bought a new position in Shell during the second quarter worth about $1,472,000. Norden Group LLC increased its stake in shares of Shell by 2,843.4% in the first quarter. Norden Group LLC now owns 170,867 shares of the energy company’s stock worth $11,455,000 after purchasing an additional 165,062 shares in the last quarter. Finally, Aprio Wealth Management LLC bought a new position in Shell in the 1st quarter worth approximately $206,000. 28.60% of the stock is owned by institutional investors.

About Shell

Shell plc operates as an energy and petrochemical company Europe, Asia, Oceania, Africa, the United States, and Rest of the Americas. The company operates through Integrated Gas, Upstream, Marketing, Chemicals and Products, and Renewables and Energy Solutions segments. It explores for and extracts crude oil, natural gas, and natural gas liquids; markets and transports oil and gas; produces gas-to-liquids fuels and other products; and operates upstream and midstream infrastructure to deliver gas to market.