Shell (NYSE:SHEL) Stock Rating Upgraded by Morgan Stanley

Shell (NYSE:SHEL) was upgraded by equities researchers at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. The brokerage presently has a $79.80 price objective on the energy company’s stock, up from their prior price objective of $66.50. Morgan Stanley’s target price indicates a potential upside of 23.38% from the company’s previous close.

A number of other research firms also recently issued reports on SHEL. Piper Sandler dropped their price objective on shares of Shell from $82.00 to $72.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Citigroup upgraded Shell to a “hold” rating in a research report on Wednesday, October 2nd. Sanford C. Bernstein raised Shell to a “strong-buy” rating in a research note on Friday, October 11th. Wolfe Research raised shares of Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a research note on Friday, January 3rd. Finally, Scotiabank decreased their target price on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $79.83.

Shell Trading Down 1.9 %

Shares of SHEL opened at $64.68 on Tuesday. 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 has a 1-year low of $60.15 and a 1-year high of $74.61. The company has a market capitalization of $199.04 billion, a P/E ratio of 13.31, a P/E/G ratio of 4.84 and a beta of 0.55. The firm’s 50 day simple moving average is $64.50 and its 200 day simple moving average is $68.15.

Institutional Investors Weigh In On Shell

Several institutional investors and hedge funds have recently modified their holdings of SHEL. NorthCrest Asset Manangement LLC boosted its position in Shell by 6.4% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 3,741 shares of the energy company’s stock valued at $247,000 after acquiring an additional 225 shares in the last quarter. Foresight Global Investors Inc. purchased a new stake in Shell in the second quarter worth $1,472,000. Rockefeller Capital Management L.P. raised its holdings in Shell by 1.5% in the third 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 in the last quarter. Creative Planning boosted its holdings in shares of Shell by 11.3% during the 2nd quarter. Creative Planning now owns 292,587 shares of the energy company’s stock valued at $21,119,000 after buying an additional 29,677 shares in the last quarter. Finally, Mawer Investment Management Ltd. increased its stake in shares of 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. 28.60% of the stock is owned by hedge funds and other institutional investors.

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.