Wells Fargo & Company Cuts Shell (NYSE:SHEL) Price Target to $90.00

Shell (NYSE:SHEL) had its target price lowered by analysts at Wells Fargo & Company from $91.00 to $90.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the energy company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 28.51% from the company’s previous close.

Several other brokerages have also recently commented on SHEL. 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. TD Securities lifted their price objective on Shell from $74.00 to $81.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $69.25.

Shell Stock Performance

NYSE:SHEL opened at $70.04 on Friday. The company has a current ratio of 1.42, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37. The stock has a 50 day simple moving average of $71.56 and a 200 day simple moving average of $67.24. Shell has a 1-year low of $58.14 and a 1-year high of $74.61. The stock has a market cap of $222.69 billion, a P/E ratio of 12.92, a PEG ratio of 1.79 and a beta of 0.60.

Shell (NYSE:SHEL) last announced its earnings results on Thursday, May 2nd. The energy company reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.51. Shell had a net margin of 5.83% and a return on equity of 13.83%. The company had revenue of $74.70 billion during the quarter, compared to analysts’ expectations of $88.03 billion. Research analysts anticipate that Shell will post 8.37 earnings per share for the current year.

Hedge Funds Weigh In On Shell

Several hedge funds and other institutional investors have recently modified their holdings of the business. United Community Bank boosted its stake in Shell by 4.4% in the first quarter. United Community Bank now owns 3,315 shares of the energy company’s stock valued at $222,000 after buying an additional 139 shares in the last quarter. Marcum Wealth LLC grew its holdings in shares of Shell by 3.7% during the 1st quarter. Marcum Wealth LLC now owns 4,223 shares of the energy company’s stock valued at $283,000 after purchasing an additional 150 shares during the last quarter. Lester Murray Antman dba SimplyRich increased its position in Shell by 0.6% during the 1st quarter. Lester Murray Antman dba SimplyRich now owns 26,743 shares of the energy company’s stock worth $1,793,000 after purchasing an additional 153 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Shell by 5.9% in the 4th quarter. Jones Financial Companies Lllp now owns 2,907 shares of the energy company’s stock valued at $191,000 after purchasing an additional 161 shares during the last quarter. Finally, Summit Trail Advisors LLC grew its stake in shares of Shell by 4.4% during the first quarter. Summit Trail Advisors LLC now owns 3,918 shares of the energy company’s stock worth $263,000 after buying an additional 166 shares during the last quarter. Institutional investors 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.