Shell (NYSE:SHEL) Raised to “Outperform” at Wolfe Research

Shell (NYSE:SHEL) was upgraded by Wolfe Research from a “peer perform” rating to an “outperform” rating in a research report issued on Friday,Briefing.com Automated Import reports. The brokerage currently has a $80.00 price objective on the energy company’s stock. Wolfe Research’s target price would suggest a potential upside of 26.78% from the company’s previous close.

A number of other research analysts also recently commented on SHEL. Citigroup raised Shell to a “hold” rating in a research note on Wednesday, October 2nd. Barclays raised shares of Shell to a “strong-buy” rating in a research note on Wednesday, October 2nd. Piper Sandler lowered their price objective on shares of Shell from $82.00 to $72.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Sanford C. Bernstein raised Shell to a “strong-buy” rating in a report on Friday, October 11th. Finally, Scotiabank reduced their price objective on Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $79.83.

Shell Trading Up 0.7 %

Shares of NYSE:SHEL opened at $63.10 on Friday. The business’s 50 day simple moving average is $64.56 and its 200 day simple moving average is $68.26. The company has a market capitalization of $194.17 billion, a P/E ratio of 12.98, a P/E/G 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 has a 1 year low of $60.15 and a 1 year high of $74.61.

Hedge Funds Weigh In On Shell

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

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.