Shell (NYSE:SHEL) Price Target Lowered to $84.00 at Wells Fargo & Company

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

A number of other equities analysts also recently issued reports on the company. Scotiabank cut their target price on Shell from $95.00 to $90.00 and set a sector outperform rating for the company in a research note on Friday, July 12th. Royal Bank of Canada raised Shell to a moderate buy rating in a research note on Tuesday, July 30th. Argus increased their target price on Shell from $77.00 to $79.00 and gave the stock a buy rating in a research note on Thursday, June 6th. Wolfe Research began coverage on Shell in a research note on Thursday, July 18th. They set a peer perform rating for the company. Finally, Berenberg Bank upgraded Shell to a strong-buy rating in a report on Monday, August 5th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $83.50.

Shell Stock Up 1.2 %

SHEL opened at $66.11 on Friday. The business has a 50 day moving average price of $70.35 and a two-hundred day moving average price of $70.73. The company has a quick ratio of 1.12, a current ratio of 1.41 and a debt-to-equity ratio of 0.35. The company has a market cap of $206.97 billion, a PE ratio of 12.20, a P/E/G ratio of 1.60 and a beta of 0.57. Shell has a 52 week low of $60.34 and a 52 week high of $74.61.

Shell (NYSE:SHEL) last posted its quarterly earnings data on Thursday, August 1st. The energy company reported $1.97 EPS for the quarter, beating the consensus estimate of $1.82 by $0.15. The firm had revenue of $75.06 billion during the quarter, compared to the consensus estimate of $88.62 billion. Shell had a return on equity of 14.56% and a net margin of 5.97%. During the same period in the prior year, the business earned $1.50 EPS. As a group, research analysts anticipate that Shell will post 8.44 EPS for the current year.

Shell Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, August 16th were issued a dividend of $0.688 per share. This represents a $2.75 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date of this dividend was Friday, August 16th. Shell’s dividend payout ratio (DPR) is presently 50.74%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SHEL. Empyrean Capital Partners LP purchased a new position in shares of Shell during the 2nd quarter worth $151,578,000. Mondrian Investment Partners LTD raised its position in shares of Shell by 83.2% in the 1st quarter. Mondrian Investment Partners LTD now owns 2,187,872 shares of the energy company’s stock worth $146,675,000 after buying an additional 993,342 shares during the period. CIBC Private Wealth Group LLC grew its position in Shell by 130.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,400,186 shares of the energy company’s stock valued at $92,132,000 after acquiring an additional 793,136 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Shell by 13.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,715,078 shares of the energy company’s stock worth $450,180,000 after purchasing an additional 772,736 shares during the period. Finally, Raymond James & Associates grew its holdings in shares of Shell by 65.7% during the 2nd quarter. Raymond James & Associates now owns 1,698,247 shares of the energy company’s stock worth $122,579,000 after purchasing an additional 673,624 shares during the period. Hedge funds and other 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.