Shell (NYSE:SHEL) Price Target Raised to $88.00

Shell (NYSE:SHEL) had its price target upped by Wells Fargo & Company from $84.00 to $88.00 in a research report report published on Tuesday, Benzinga reports. They currently have an overweight rating on the energy company’s stock.

A number of other equities research analysts have also weighed in on the company. Royal Bank of Canada upgraded Shell to a moderate buy rating in a research note on Tuesday, July 30th. Citigroup raised Shell to a hold rating in a report on Wednesday, October 2nd. Barclays raised shares of Shell to a strong-buy rating in a report on Wednesday, October 2nd. Wolfe Research started coverage on shares of Shell in a research report on Thursday, July 18th. They set a peer perform rating for the company. Finally, Scotiabank cut their price target on Shell from $95.00 to $90.00 and set a sector outperform rating on the stock in a research report on Friday, July 12th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $82.00.

Shell Stock Performance

SHEL stock opened at $68.50 on Tuesday. The firm has a 50-day simple moving average of $69.58 and a two-hundred day simple moving average of $70.86. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.12 and a current ratio of 1.41. Shell has a one year low of $60.34 and a one year high of $74.61. The firm has a market cap of $214.46 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 1.57 and a beta of 0.56.

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

Shell Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, August 16th were issued a $0.688 dividend. 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 4.02%. Shell’s payout ratio is 49.11%.

Institutional Investors Weigh In On Shell

A number of institutional investors have recently modified their holdings of the business. Hobbs Group Advisors LLC acquired a new stake in Shell in the second quarter valued at approximately $26,000. Beaird Harris Wealth Management LLC raised its position 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 during the period. Triad Wealth Partners LLC purchased a new position in Shell during the second quarter valued at $31,000. Fairscale Capital LLC purchased a new stake in shares of Shell during the second quarter worth about $33,000. Finally, Fairman Group LLC acquired a new position in shares of Shell during the 4th quarter worth about $45,000. 28.60% of the stock is currently owned by institutional investors and hedge funds.

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.