Shell (NYSE:SHEL) Hits New 52-Week Low After Analyst Downgrade

Shell plc (NYSE:SHEL)’s stock price reached a new 52-week low during trading on Friday after Piper Sandler lowered their price target on the stock from $82.00 to $72.00. Piper Sandler currently has an overweight rating on the stock. Shell traded as low as $60.15 and last traded at $60.42, with a volume of 517045 shares traded. The stock had previously closed at $60.78.

SHEL has been the topic of several other reports. Citigroup raised Shell to a “hold” rating in a research note on Wednesday, October 2nd. Scotiabank lowered their price target on Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Barclays raised Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company dropped their price target on shares of Shell from $88.00 to $87.00 and set an “overweight” rating on the stock in a report on Monday, December 9th. Finally, Sanford C. Bernstein upgraded shares of Shell to a “strong-buy” rating in a research note on Friday, October 11th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $79.80.

Hedge Funds Weigh In On Shell

Several large investors have recently added to or reduced their stakes in SHEL. Fortitude Family Office LLC bought a new stake in shares of Shell during the 3rd quarter valued at $30,000. Fairscale Capital LLC bought a new stake in Shell during the second quarter valued at about $33,000. Valley Wealth Managers Inc. bought a new position in shares of Shell in the third quarter worth about $33,000. Brooklyn Investment Group purchased a new stake in shares of Shell during the third quarter worth about $35,000. Finally, GHP Investment Advisors Inc. raised its stake in Shell by 40.8% during the 3rd quarter. GHP Investment Advisors Inc. now owns 563 shares of the energy company’s stock valued at $37,000 after purchasing an additional 163 shares during the period. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Shell Stock Down 0.2 %

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 50 day simple moving average of $65.47 and a two-hundred day simple moving average of $68.76. The firm has a market capitalization of $186.60 billion, a P/E ratio of 12.48, a P/E/G ratio of 4.84 and a beta of 0.55.

Shell Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Friday, November 15th were paid a dividend of $0.688 per share. The ex-dividend date was Friday, November 15th. This represents a $2.75 annualized dividend and a yield of 4.54%. Shell’s payout ratio is 56.58%.

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.