Shell (NYSE:SHEL) Given “Buy” Rating at The Goldman Sachs Group

Shell (NYSE:SHEL)‘s stock had its “buy” rating reissued by research analysts at The Goldman Sachs Group in a report issued on Monday.

Other analysts have also recently issued research reports about the stock. Wells Fargo & Company lifted their price objective on shares of Shell from $105.00 to $116.00 and gave the stock an “equal weight” rating in a research note on Friday. UBS Group set a $90.00 target price on shares of Shell in a research report on Friday, September 25th. Barclays reaffirmed an “overweight” rating on shares of Shell in a report on Monday, October 5th. Erste Group Bank upgraded shares of Shell from a “hold” rating to a “buy” rating in a research report on Thursday, August 27th. Finally, TD Cowen boosted their price target on Shell from $107.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, September 28th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $107.08.

Shell Stock Performance

SHEL stock traded down $0.69 during trading hours on Monday, hitting $104.25. 5,530,410 shares of the stock were exchanged, compared to its average volume of 6,882,503. Shell has a 12 month low of $68.63 and a 12 month high of $109.37. The company has a current ratio of 1.43, a quick ratio of 1.12 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $298.65 billion, a P/E ratio of 9.05, a P/E/G ratio of 0.86 and a beta of 0.10. The company has a 50-day simple moving average of $98.33 and a two-hundred day simple moving average of $88.33.

Shell (NYSE:SHEL) last announced its earnings results on Thursday, October 29th. The energy company reported $3.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.60 by $0.26. Shell had a net margin of 8.55% and a return on equity of 14.34%. The company had revenue of $92.85 billion during the quarter, compared to analysts’ expectations of $93.25 billion. On average, analysts forecast that Shell will post 11.94 earnings per share for the current fiscal year.

Shell declared that its Board of Directors has approved a share buyback program on Thursday, October 29th that authorizes the company to buy back $5 billion in outstanding shares. This repurchase authorization authorizes the energy company to purchase up to 1.7% of its shares through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Shell

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE increased its holdings in Shell by 1.9% in the second quarter. Bank of America Corp DE now owns 7,709,715 shares of the energy company’s stock valued at $597,811,000 after purchasing an additional 146,988 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Shell by 7.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,352,694 shares of the energy company’s stock worth $182,425,000 after buying an additional 171,873 shares during the period. Palogic Value Management L.P. lifted its holdings in Shell by 31.4% during the 2nd quarter. Palogic Value Management L.P. now owns 54,698 shares of the energy company’s stock worth $4,241,000 after buying an additional 13,080 shares during the period. IFP Advisors Inc grew its position in shares of Shell by 86.6% in the 3rd quarter. IFP Advisors Inc now owns 25,800 shares of the energy company’s stock valued at $2,452,000 after buying an additional 11,974 shares during the last quarter. Finally, Diversify Advisory Services LLC bought a new stake in shares of Shell in the 2nd quarter valued at about $854,000. Institutional investors own 28.60% of the company’s stock.

Shell Company Profile

Shell plc is a global energy company headquartered in London, England. Its operations span the energy value chain, including the exploration, production, processing, trading and marketing of oil and natural gas. The company is also a major participant in liquefied natural gas (LNG), refining, chemicals and energy-related products.

Shell sells fuels, lubricants and other petroleum products through branded retail and commercial businesses, while also providing services to industrial, marine and aviation customers.