Scotiabank Analysts Decrease Earnings Estimates for Shell

Shell plc (NYSE:SHEL) – Investment analysts at Scotiabank dropped their FY2024 earnings estimates for shares of Shell in a report released on Wednesday, January 8th. Scotiabank analyst P. Cheng now expects that the energy company will post earnings of $7.80 per share for the year, down from their previous forecast of $8.80. Scotiabank has a “Sector Outperform” rating and a $80.00 price objective on the stock. The consensus estimate for Shell’s current full-year earnings is $8.52 per share. Scotiabank also issued estimates for Shell’s FY2025 earnings at $7.85 EPS.

Several other equities analysts have also recently weighed in on the company. Morgan Stanley raised Shell from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $66.50 to $79.80 in a report on Tuesday, January 7th. Sanford C. Bernstein raised shares of Shell to a “strong-buy” rating in a research report on Friday, October 11th. Wells Fargo & Company decreased their target price on shares of Shell from $87.00 to $86.00 and set an “overweight” rating on the stock in a report on Friday. Wolfe Research upgraded shares of Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research report on Friday, January 3rd. Finally, Barclays upgraded Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Shell currently has a consensus rating of “Buy” and an average target price of $79.69.

Shell Stock Up 0.1 %

NYSE SHEL opened at $64.99 on Monday. The company has a current ratio of 1.40, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34. The company has a market cap of $199.99 billion, a price-to-earnings ratio of 13.37, a PEG ratio of 4.84 and a beta of 0.55. The company has a 50 day moving average of $64.32 and a 200-day moving average of $67.96. Shell has a 1-year low of $60.15 and a 1-year high of $74.61.

Shell Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, November 15th were given a dividend of $0.688 per share. This represents a $2.75 annualized dividend and a dividend yield of 4.23%. The ex-dividend date was Friday, November 15th. Shell’s dividend payout ratio (DPR) is 56.58%.

Institutional Trading of Shell

Several large investors have recently made changes to their positions in the company. FMR LLC grew its stake in Shell by 5.2% in the third 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 period. Fisher Asset Management LLC grew its holdings in shares of Shell by 2.1% during 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 last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Shell by 0.4% in 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 last quarter. Franklin Resources Inc. lifted 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 acquiring an additional 55,637 shares in the last quarter. Finally, Mawer Investment Management Ltd. grew its holdings in 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 buying an additional 422,329 shares in the last quarter. 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.