Shell (NYSE:SHEL) Given New $90.00 Price Target at Wells Fargo & Company

Shell (NYSE:SHEL) had its price objective decreased by Wells Fargo & Company from $91.00 to $90.00 in a research note released on Friday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the energy company’s stock.

Several other brokerages also recently weighed in on SHEL. Argus lifted their target price on Shell from $77.00 to $79.00 and gave the company a buy rating in a research note on Thursday, June 6th. TD Securities boosted their price objective on Shell from $74.00 to $81.00 and gave the stock a buy rating in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $69.25.

Shell Stock Down 0.1 %

Shares of Shell stock opened at $69.95 on Friday. The business’s fifty day moving average price is $71.51 and its two-hundred day moving average price is $67.27. 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 company has a market capitalization of $222.42 billion, a P/E ratio of 12.91, a PEG ratio of 1.79 and a beta of 0.60. Shell has a 1-year low of $58.14 and a 1-year high of $74.61.

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

Shell Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, May 17th will be issued a dividend of $0.688 per share. This is an increase from Shell’s previous quarterly dividend of $0.66. The ex-dividend date is Thursday, May 16th. This represents a $2.75 dividend on an annualized basis and a dividend yield of 3.93%. Shell’s payout ratio is currently 50.74%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. VisionPoint Advisory Group LLC acquired a new position in Shell in the 3rd quarter worth about $26,000. Rise Advisors LLC increased its position in Shell by 84.4% in the 4th quarter. Rise Advisors LLC now owns 413 shares of the energy company’s stock worth $27,000 after purchasing an additional 189 shares during the last quarter. Valley National Advisers Inc. increased its position in Shell by 217.7% in the 4th quarter. Valley National Advisers Inc. now owns 413 shares of the energy company’s stock worth $27,000 after purchasing an additional 283 shares during the last quarter. Beaird Harris Wealth Management LLC increased its position in Shell by 611.1% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 448 shares of the energy company’s stock worth $29,000 after purchasing an additional 385 shares during the last quarter. Finally, Fortis Group Advisors LLC acquired a new position in Shell in the 3rd quarter worth about $32,000. Hedge funds and other institutional investors own 28.60% of the company’s stock.

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.