Shell (NYSE:SHEL) Upgraded by Wolfe Research to Outperform Rating

Wolfe Research upgraded shares of Shell (NYSE:SHEL) from a peer perform rating to an outperform rating in a research note published on Friday morning, Marketbeat Ratings reports. They currently have $80.00 price objective on the energy company’s stock.

Several other equities analysts also recently weighed in on SHEL. Wells Fargo & Company reduced their target price on Shell from $88.00 to $87.00 and set an “overweight” rating on the stock in a research report on Monday, December 9th. Scotiabank cut their price objective on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Citigroup raised shares of Shell to a “hold” rating in a research report on Wednesday, October 2nd. Piper Sandler decreased their price target on shares of Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, Sanford C. Bernstein raised Shell to a “strong-buy” rating in a research report on Friday, October 11th. One analyst has rated the stock with a hold rating, six have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $79.83.

Shell Trading Up 2.3 %

Shares of SHEL opened at $64.52 on Friday. Shell has a fifty-two week low of $60.15 and a fifty-two week high of $74.61. The company has a market capitalization of $198.54 billion, a PE ratio of 13.28, a price-to-earnings-growth ratio of 4.84 and a beta of 0.55. The stock has a fifty day moving average of $64.52 and a two-hundred day moving average of $68.23. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.40.

Shell Dividend Announcement

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 $0.688 dividend. This represents a $2.75 annualized dividend and a dividend yield of 4.27%. The ex-dividend date was Friday, November 15th. Shell’s payout ratio is 56.58%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. NorthCrest Asset Manangement LLC raised its position in shares of Shell by 6.4% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 3,741 shares of the energy company’s stock valued at $247,000 after purchasing an additional 225 shares in the last quarter. Foresight Global Investors Inc. bought a new position in Shell during the 2nd quarter valued at $1,472,000. Rockefeller Capital Management L.P. increased its position in shares of Shell by 1.5% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 3,125,284 shares of the energy company’s stock worth $206,116,000 after purchasing an additional 46,293 shares during the last quarter. Creative Planning lifted its position in shares of Shell by 11.3% during the second quarter. Creative Planning now owns 292,587 shares of the energy company’s stock worth $21,119,000 after purchasing an additional 29,677 shares during the last quarter. Finally, Mawer Investment Management Ltd. grew its stake in Shell by 8.7% in the third quarter. Mawer Investment Management Ltd. now owns 5,282,868 shares of the energy company’s stock worth $348,405,000 after purchasing an additional 422,329 shares in the last quarter. 28.60% of the stock is owned by institutional investors and hedge funds.

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.