Wells Fargo & Company Has Lowered Expectations for Shell (NYSE:SHEL) Stock Price

Shell (NYSE:SHEL) had its price target decreased by Wells Fargo & Company from $86.00 to $82.00 in a report released on Friday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the energy company’s stock.

SHEL has been the topic of a number of other research reports. Piper Sandler decreased their target price on shares of Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Wolfe Research upgraded shares of Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research report on Friday, January 3rd. Morgan Stanley upgraded shares of Shell from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $66.50 to $79.80 in a research report on Tuesday, January 7th. Sanford C. Bernstein upgraded shares of Shell to a “strong-buy” rating in a research report on Friday, October 11th. Finally, Scotiabank decreased their target price on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $79.11.

Shell Stock Down 1.3 %

Shares of NYSE:SHEL opened at $65.82 on Friday. The firm has a fifty day moving average price of $64.17 and a two-hundred day moving average price of $67.28. 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 has a one year low of $60.15 and a one year high of $74.61. The company has a market cap of $201.23 billion, a price-to-earnings ratio of 13.54, a PEG ratio of 6.46 and a beta of 0.55.

Shell (NYSE:SHEL) last announced its quarterly 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 net margin of 5.17% and a return on equity of 14.54%. Analysts anticipate that Shell will post 8.11 EPS for the current fiscal year.

Shell Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, February 14th will be paid a dividend of $0.716 per share. This is a positive change from Shell’s previous quarterly dividend of $0.69. The ex-dividend date is Friday, February 14th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.35%. Shell’s payout ratio is presently 56.58%.

Institutional Investors Weigh In On Shell

Several hedge funds have recently bought and sold shares of SHEL. Valley National Advisers Inc. raised its holdings in Shell by 930.2% in the fourth quarter. Valley National Advisers Inc. now owns 443 shares of the energy company’s stock worth $27,000 after buying an additional 400 shares during the last quarter. Fortitude Family Office LLC purchased a new position in shares of Shell during the third quarter valued at approximately $30,000. Human Investing LLC purchased a new position in shares of Shell during the fourth quarter valued at approximately $31,000. Valley Wealth Managers Inc. purchased a new position in shares of Shell during the third quarter valued at approximately $33,000. Finally, Brooklyn Investment Group purchased a new stake in Shell during the third quarter valued at approximately $35,000. 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.