Shell (NYSE:SHEL) Price Target Cut to $87.00 by Analysts at Wells Fargo & Company

Shell (NYSE:SHEL) had its price target trimmed by Wells Fargo & Company from $88.00 to $87.00 in a research note released on Monday,Benzinga reports. They currently have an overweight rating on the energy company’s stock.

A number of other brokerages have also recently issued reports on SHEL. Citigroup upgraded shares of Shell to a “hold” rating in a research note on Wednesday, October 2nd. Barclays raised Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Scotiabank decreased their target price on Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Finally, Sanford C. Bernstein raised Shell to a “strong-buy” rating in a research report on Friday, October 11th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Shell presently has an average rating of “Buy” and an average price target of $81.75.

Shell Stock Performance

Shares of Shell stock opened at $64.70 on Monday. The stock has a market cap of $200.28 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 1.94 and a beta of 0.55. The firm’s 50-day moving average is $66.53 and its 200 day moving average is $69.29. Shell has a 1 year low of $60.34 and a 1 year high of $74.61. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 15th will be given a dividend of $0.688 per share. This represents a $2.75 annualized dividend and a dividend yield of 4.25%. The ex-dividend date of this dividend is Friday, November 15th. Shell’s payout ratio is currently 56.58%.

Institutional Investors Weigh In On Shell

Several hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC increased its position in shares of Shell by 5.2% during the 3rd quarter. FMR LLC now owns 65,298,943 shares of the energy company’s stock valued at $4,306,465,000 after purchasing an additional 3,255,347 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Shell by 2.1% during the 3rd quarter. Fisher Asset Management LLC now owns 24,530,647 shares of the energy company’s stock valued at $1,617,796,000 after purchasing an additional 507,311 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in 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 in the last quarter. Franklin Resources Inc. increased its holdings in Shell by 0.9% in the 3rd quarter. Franklin Resources Inc. now owns 5,972,945 shares of the energy company’s stock worth $408,430,000 after acquiring an additional 55,637 shares in the last quarter. Finally, Mawer Investment Management Ltd. increased its holdings in Shell by 8.7% in the 3rd quarter. Mawer Investment Management Ltd. now owns 5,282,868 shares of the energy company’s stock worth $348,405,000 after acquiring an additional 422,329 shares in the last quarter. 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.