Shell (NYSE:SHEL) Given New $84.00 Price Target at Wells Fargo & Company

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

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

Shell Stock Performance

Shares of SHEL opened at $65.98 on Friday. The company has a current ratio of 1.41, a quick ratio of 1.12 and a debt-to-equity ratio of 0.35. The stock has a 50-day moving average price of $70.35 and a 200-day moving average price of $70.81. The company has a market cap of $206.57 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 1.60 and a beta of 0.57. Shell has a 12-month low of $60.34 and a 12-month high of $74.61.

Shell (NYSE:SHEL) last posted its quarterly earnings data on Thursday, August 1st. The energy company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.15. Shell had a net margin of 5.97% and a return on equity of 14.56%. The firm had revenue of $75.06 billion for the quarter, compared to analysts’ expectations of $88.62 billion. During the same quarter last year, the company posted $1.50 EPS. As a group, equities analysts forecast that Shell will post 8.44 earnings per share for the current fiscal year.

Shell Dividend Announcement

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

Institutional Trading of Shell

Several institutional investors and hedge funds have recently bought and sold shares of SHEL. Hobbs Group Advisors LLC bought a new stake in shares of Shell during the second quarter valued at approximately $26,000. Triad Wealth Partners LLC bought a new position in shares of Shell in the 2nd quarter worth about $31,000. Beaird Harris Wealth Management LLC boosted its stake in Shell by 611.1% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 448 shares of the energy company’s stock worth $29,000 after acquiring an additional 385 shares in the last quarter. Fairscale Capital LLC bought a new position in shares of Shell during the second quarter valued at approximately $33,000. Finally, LRI Investments LLC bought a new stake in shares of Shell in the 1st quarter worth approximately $47,000. 28.60% of the stock is currently owned by hedge funds and other 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.