Wells Fargo & Company Cuts Shell (NYSE:SHEL) Price Target to $84.00

Shell (NYSE:SHEL) had its price target trimmed by Wells Fargo & Company from $88.00 to $84.00 in a report released on Friday, Benzinga reports. The firm currently has an overweight rating on the energy company’s stock.

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

Shell Stock Up 1.2 %

SHEL opened at $66.11 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. Shell has a 12 month low of $60.34 and a 12 month high of $74.61. The business’s 50-day moving average price is $70.35 and its 200-day moving average price is $70.77. The company has a market cap of $206.97 billion, a P/E ratio of 12.20, a P/E/G ratio of 1.60 and a beta of 0.57.

Shell (NYSE:SHEL) last announced its earnings results on Thursday, August 1st. The energy company reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.15. Shell had a net margin of 5.97% and a return on equity of 14.56%. The business had revenue of $75.06 billion during the quarter, compared to the consensus estimate of $88.62 billion. During the same quarter last year, the firm earned $1.50 earnings per share. On average, equities analysts expect that Shell will post 8.44 EPS for the current year.

Shell Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, August 16th were issued a $0.688 dividend. The ex-dividend date was Friday, August 16th. This represents a $2.75 dividend on an annualized basis and a yield of 4.16%. Shell’s payout ratio is 50.74%.

Institutional Inflows and Outflows

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

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.