Wells Fargo & Company Forecasts Strong Price Appreciation for Shell (NYSE:SHEL) Stock

Shell (NYSE:SHEL) had its target price boosted by investment analysts at Wells Fargo & Company from $81.00 to $87.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the energy company’s stock. Wells Fargo & Company‘s price target points to a potential upside of 18.60% from the stock’s previous close.

SHEL has been the subject of a number of other research reports. TD Cowen began coverage on shares of Shell in a report on Wednesday, March 19th. They set a “buy” rating and a $81.00 price objective for the company. TD Securities increased their price objective on Shell from $81.00 to $82.00 and gave the company a “buy” rating in a report on Wednesday, March 19th. Wolfe Research upgraded Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research note on Friday, January 3rd. UBS Group upgraded Shell from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 8th. Finally, Piper Sandler reduced their target price on shares of Shell from $82.00 to $72.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $80.10.

Shell Price Performance

Shares of NYSE:SHEL opened at $73.35 on Wednesday. Shell has a 1-year low of $60.15 and a 1-year high of $74.61. The company has a current ratio of 1.35, a quick ratio of 1.10 and a debt-to-equity ratio of 0.36. The stock has a market cap of $221.80 billion, a PE ratio of 14.61, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47. The stock’s fifty day simple moving average is $67.56 and its two-hundred day simple moving average is $66.38.

Shell (NYSE:SHEL) last posted its earnings results on Thursday, January 30th. The energy company reported $1.20 EPS for the quarter, missing the consensus estimate of $1.74 by ($0.54). Shell had a return on equity of 12.75% and a net margin of 5.57%. As a group, analysts forecast that Shell will post 7.67 EPS for the current fiscal year.

Institutional Trading of Shell

Several institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC raised its position in Shell by 32.3% during the fourth quarter. FMR LLC now owns 86,417,177 shares of the energy company’s stock valued at $5,414,036,000 after purchasing an additional 21,118,234 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Shell by 1.7% in the fourth quarter. Fisher Asset Management LLC now owns 24,938,735 shares of the energy company’s stock worth $1,562,412,000 after buying an additional 408,088 shares in the last quarter. Wellington Management Group LLP grew its position in Shell by 3.1% during the fourth quarter. Wellington Management Group LLP now owns 7,982,817 shares of the energy company’s stock valued at $500,123,000 after acquiring an additional 238,705 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Shell by 0.8% in the 4th quarter. Franklin Resources Inc. now owns 6,023,173 shares of the energy company’s stock worth $377,352,000 after acquiring an additional 50,228 shares during the last quarter. Finally, Holocene Advisors LP raised its position in Shell by 29.8% in the 3rd quarter. Holocene Advisors LP now owns 3,773,617 shares of the energy company’s stock worth $248,870,000 after purchasing an additional 866,954 shares during the period. Hedge funds and other institutional investors own 28.60% of the company’s stock.

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.