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

Shell (NYSE:SHELFree Report) had its target price reduced by Wells Fargo & Company from $91.00 to $90.00 in a report published on Friday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the energy company’s stock.

Several other research analysts also recently issued reports on SHEL. TD Securities raised their price objective on shares of Shell from $74.00 to $81.00 and gave the stock a buy rating in a research report on Friday, May 3rd. Argus lifted their target price on shares of Shell from $77.00 to $79.00 and gave the company a buy rating in a report on Thursday, June 6th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $69.25.

Read Our Latest Stock Report on Shell

Shell Price Performance

Shares of NYSE:SHEL opened at $71.42 on Friday. Shell has a 12 month low of $58.14 and a 12 month high of $74.61. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.42 and a quick ratio of 1.14. The firm has a market capitalization of $227.08 billion, a P/E ratio of 13.18, a P/E/G ratio of 1.80 and a beta of 0.60. The company’s fifty day moving average price is $71.50 and its 200 day moving average price is $67.38.

Shell (NYSE:SHELGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The energy company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $88.03 billion. As a group, sell-side analysts predict that Shell will post 8.37 earnings per share for the current fiscal year.

Shell Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Friday, May 17th were issued a dividend of $0.688 per share. The ex-dividend date was Thursday, May 16th. This represents a $2.75 dividend on an annualized basis and a yield of 3.85%. This is an increase from Shell’s previous quarterly dividend of $0.66. Shell’s payout ratio is currently 50.74%.

Hedge Funds Weigh In On Shell

Institutional investors have recently modified their holdings of the company. United Community Bank lifted its stake in shares of Shell by 4.4% in the 1st quarter. United Community Bank now owns 3,315 shares of the energy company’s stock valued at $222,000 after purchasing an additional 139 shares in the last quarter. Marcum Wealth LLC lifted its position in shares of Shell by 3.7% during the first quarter. Marcum Wealth LLC now owns 4,223 shares of the energy company’s stock worth $283,000 after purchasing an additional 150 shares in the last quarter. Lester Murray Antman dba SimplyRich boosted its stake in shares of Shell by 0.6% in the first quarter. Lester Murray Antman dba SimplyRich now owns 26,743 shares of the energy company’s stock valued at $1,793,000 after purchasing an additional 153 shares during the period. Jones Financial Companies Lllp lifted its holdings in Shell by 5.9% in the 4th quarter. Jones Financial Companies Lllp now owns 2,907 shares of the energy company’s stock worth $191,000 after buying an additional 161 shares in the last quarter. Finally, Summit Trail Advisors LLC boosted its position in Shell by 4.4% in the 1st quarter. Summit Trail Advisors LLC now owns 3,918 shares of the energy company’s stock valued at $263,000 after buying an additional 166 shares during the last quarter. Institutional investors and hedge funds own 28.60% of the company’s stock.

Shell Company Profile

(Get Free Report)

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.

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