Shell (NYSE:SHEL) Price Target Cut to $86.00 by Analysts at Wells Fargo & Company

Shell (NYSE:SHEL) had its price target reduced by Wells Fargo & Company from $87.00 to $86.00 in a report published on Friday,Benzinga reports. They currently have an overweight rating on the energy company’s stock.

A number of other equities research analysts also recently commented on SHEL. Barclays upgraded shares of Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Sanford C. Bernstein raised Shell to a “strong-buy” rating in a report on Friday, October 11th. Citigroup raised shares of Shell to a “hold” rating in a research note on Wednesday, October 2nd. Morgan Stanley upgraded shares of Shell from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $66.50 to $79.80 in a report on Tuesday. Finally, Piper Sandler lowered their target price on shares of Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $79.69.

Shell Stock Performance

NYSE SHEL opened at $65.02 on Friday. The business’s 50-day moving average price is $64.43 and its 200 day moving average price is $68.10. The company has a quick ratio of 1.13, a current ratio of 1.40 and a debt-to-equity ratio of 0.34. The firm has a market cap of $200.08 billion, a P/E ratio of 13.38, a P/E/G ratio of 4.84 and a beta of 0.55. Shell has a 52-week low of $60.15 and a 52-week high of $74.61.

Shell Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Friday, November 15th were paid a dividend of $0.688 per share. This represents a $2.75 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date was Friday, November 15th. Shell’s payout ratio is currently 56.58%.

Institutional Investors Weigh In On Shell

Hedge funds have recently modified their holdings of the company. Fortitude Family Office LLC acquired a new stake in Shell during the third quarter worth approximately $30,000. Fairscale Capital LLC purchased a new stake in shares of Shell in the second quarter valued at $33,000. Valley Wealth Managers Inc. acquired a new position in Shell in the third quarter valued at $33,000. Brooklyn Investment Group purchased a new position in Shell during the third quarter worth about $35,000. Finally, GHP Investment Advisors Inc. grew its holdings in Shell by 40.8% in the 3rd quarter. GHP Investment Advisors Inc. now owns 563 shares of the energy company’s stock valued at $37,000 after buying an additional 163 shares during the period. 28.60% of the stock is owned by institutional investors and hedge funds.

Shell Company Profile

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.