Shell (NYSE:SHEL) Reaches New 1-Year Low After Analyst Downgrade

Shell plc (NYSE:SHEL)’s share price hit a new 52-week low during trading on Friday after Piper Sandler lowered their price target on the stock from $82.00 to $72.00. Piper Sandler currently has an overweight rating on the stock. Shell traded as low as $60.15 and last traded at $60.42, with a volume of 517045 shares trading hands. The stock had previously closed at $60.78.

Several other analysts have also recently issued reports on SHEL. Sanford C. Bernstein raised Shell to a “strong-buy” rating in a report on Friday, October 11th. Wells Fargo & Company lowered their price objective on shares of Shell from $88.00 to $87.00 and set an “overweight” rating for the company in a research report on Monday, December 9th. Barclays upgraded shares of Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Scotiabank dropped their price target on Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Finally, Citigroup raised Shell to a “hold” rating in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Shell currently has a consensus rating of “Buy” and a consensus target price of $79.80.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. FMR LLC grew its position in Shell by 5.2% in the 3rd quarter. FMR LLC now owns 65,298,943 shares of the energy company’s stock valued at $4,306,465,000 after acquiring an additional 3,255,347 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Shell by 2.1% in the third quarter. Fisher Asset Management LLC now owns 24,530,647 shares of the energy company’s stock worth $1,617,796,000 after purchasing an additional 507,311 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Shell by 0.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 22,722,317 shares of the energy company’s stock valued at $1,640,082,000 after buying an additional 96,549 shares in the last quarter. Franklin Resources Inc. boosted its position in Shell by 0.9% in the 3rd quarter. Franklin Resources Inc. now owns 5,972,945 shares of the energy company’s stock valued at $408,430,000 after buying an additional 55,637 shares during the period. Finally, Mawer Investment Management Ltd. increased its position in shares of Shell by 8.7% during the third quarter. Mawer Investment Management Ltd. now owns 5,282,868 shares of the energy company’s stock worth $348,405,000 after acquiring an additional 422,329 shares during the period. Institutional investors own 28.60% of the company’s stock.

Shell Stock Down 0.2 %

The business has a fifty day moving average of $65.47 and a 200-day moving average of $68.76. The stock has a market cap of $186.60 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 4.84 and a beta of 0.55. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.40 and a quick ratio of 1.13.

Shell Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, November 15th were paid a dividend of $0.688 per share. The ex-dividend date was Friday, November 15th. This represents a $2.75 annualized dividend and a dividend yield of 4.54%. Shell’s dividend payout ratio is currently 56.58%.

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.