Piper Sandler Cuts Shell (NYSE:SHEL) Price Target to $72.00

Shell (NYSE:SHEL) had its price objective reduced by Piper Sandler from $82.00 to $72.00 in a research report released on Thursday,Benzinga reports. They currently have an overweight rating on the energy company’s stock.

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

Shell Stock Down 0.2 %

SHEL opened at $60.64 on Thursday. Shell has a 1-year low of $60.15 and a 1-year high of $74.61. The business has a 50 day moving average of $65.47 and a 200-day moving average of $68.76. The stock has a market capitalization of $186.60 billion, a price-to-earnings ratio of 12.48, a P/E/G ratio of 4.84 and a beta of 0.55. The company has a current ratio of 1.40, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34.

Shell Announces Dividend

The business also recently announced 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. The ex-dividend date was Friday, November 15th. This represents a $2.75 annualized dividend and a dividend yield of 4.54%. Shell’s payout ratio is currently 56.58%.

Hedge Funds Weigh In On Shell

Institutional investors and hedge funds have recently made changes to their positions in the company. Coronation Fund Managers Ltd. boosted its holdings in shares of Shell by 7.6% in the second quarter. Coronation Fund Managers Ltd. now owns 15,201 shares of the energy company’s stock valued at $1,097,000 after buying an additional 1,068 shares during the period. Nisa Investment Advisors LLC increased its holdings in Shell by 218.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,939 shares of the energy company’s stock worth $140,000 after purchasing an additional 1,330 shares in the last quarter. &PARTNERS raised its stake in shares of Shell by 93.2% in the 2nd quarter. &PARTNERS now owns 21,329 shares of the energy company’s stock valued at $1,540,000 after purchasing an additional 10,290 shares during the period. LRI Investments LLC lifted its holdings in shares of Shell by 3,856.3% in the second quarter. LRI Investments LLC now owns 633 shares of the energy company’s stock valued at $46,000 after purchasing an additional 617 shares in the last quarter. Finally, First National Bank of Hutchinson grew its holdings in shares of Shell by 31.8% during the second quarter. First National Bank of Hutchinson now owns 5,850 shares of the energy company’s stock worth $422,000 after buying an additional 1,411 shares in the last quarter. Institutional investors and hedge funds 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.