Wells Fargo & Company Issues Pessimistic Forecast for Shell (NYSE:SHEL) Stock Price

Shell (NYSE:SHEL) had its price objective cut by analysts at Wells Fargo & Company from $87.00 to $86.00 in a report released on Friday,Benzinga reports. The firm currently has an “overweight” rating on the energy company’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 32.27% from the stock’s previous close.

A number of other equities analysts have also recently commented on the company. Morgan Stanley upgraded Shell from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $66.50 to $79.80 in a report on Tuesday, January 7th. Barclays raised Shell to a “strong-buy” rating in a report on Wednesday, October 2nd. Sanford C. Bernstein raised shares of Shell to a “strong-buy” rating in a research report on Friday, October 11th. Scotiabank dropped their price objective 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. Finally, UBS Group upgraded shares of Shell from a “neutral” rating to a “buy” rating in a research note on Wednesday. One 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $79.69.

Shell Stock Performance

Shares of SHEL stock opened at $65.02 on Friday. The stock has a market cap of $200.08 billion, a P/E ratio of 13.38, a P/E/G ratio of 4.84 and a beta of 0.55. The company has a fifty day moving average price of $64.38 and a two-hundred day moving average price of $68.05. Shell has a one year low of $60.15 and a one 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.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Fairscale Capital LLC bought a new position in Shell in the 2nd quarter valued at about $33,000. Fortitude Family Office LLC acquired a new position in Shell during the third quarter valued at approximately $30,000. Valley Wealth Managers Inc. bought a new stake in Shell during the third quarter worth $33,000. Brooklyn Investment Group bought a new position in shares of Shell in the 3rd quarter valued at $35,000. Finally, GHP Investment Advisors Inc. raised its holdings in shares of Shell by 40.8% during the 3rd quarter. GHP Investment Advisors Inc. now owns 563 shares of the energy company’s stock worth $37,000 after buying an additional 163 shares in the last quarter. Institutional investors 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.