Wells Fargo & Company Cuts Shell (NYSE:SHEL) Price Target to $82.00

Shell (NYSE:SHEL) had its price target lowered by Wells Fargo & Company from $86.00 to $82.00 in a report published on Friday,Benzinga reports. The brokerage currently has an overweight rating on the energy company’s stock.

SHEL has been the topic of several other reports. Piper Sandler lowered their target price 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. Morgan Stanley raised shares of Shell from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $66.50 to $79.80 in a research note on Tuesday, January 7th. Wolfe Research raised shares of Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research note on Friday, January 3rd. Scotiabank cut their price target 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. Finally, Sanford C. Bernstein upgraded shares of Shell to a “strong-buy” rating in a report on Friday, October 11th. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $79.11.

Shell Price Performance

SHEL opened at $65.82 on Friday. The company has a fifty day simple moving average of $64.17 and a 200 day simple moving average of $67.28. The stock has a market cap of $201.23 billion, a P/E ratio of 13.54, a P/E/G ratio of 6.46 and a beta of 0.55. The company has a quick ratio of 1.13, a current ratio of 1.40 and a debt-to-equity ratio of 0.34. Shell has a 12 month low of $60.15 and a 12 month high of $74.61.

Shell (NYSE:SHEL) last posted its quarterly earnings data on Thursday, January 30th. The energy company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.54). Shell had a return on equity of 14.54% and a net margin of 5.17%. On average, research analysts expect that Shell will post 8.11 EPS for the current year.

Shell Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, February 14th will be given a dividend of $0.716 per share. The ex-dividend date is Friday, February 14th. This is an increase from Shell’s previous quarterly dividend of $0.69. This represents a $2.86 annualized dividend and a dividend yield of 4.35%. Shell’s payout ratio is presently 56.58%.

Institutional Investors Weigh In On Shell

A number of institutional investors have recently added to or reduced their stakes in SHEL. Allied Investment Advisors LLC increased its stake in Shell by 0.8% in the 4th quarter. Allied Investment Advisors LLC now owns 173,687 shares of the energy company’s stock valued at $10,881,000 after buying an additional 1,394 shares during the last quarter. Klingman & Associates LLC increased its stake in Shell by 5.2% in the 4th quarter. Klingman & Associates LLC now owns 3,421 shares of the energy company’s stock valued at $214,000 after buying an additional 170 shares during the last quarter. Mcdonald Partners LLC purchased a new stake in Shell in the 4th quarter valued at about $206,000. Cardinal Capital Management increased its stake in Shell by 1.2% in the 4th quarter. Cardinal Capital Management now owns 56,010 shares of the energy company’s stock valued at $3,509,000 after buying an additional 648 shares during the last quarter. Finally, BKM Wealth Management LLC increased its stake in Shell by 5.7% in the 4th quarter. BKM Wealth Management LLC now owns 9,962 shares of the energy company’s stock valued at $624,000 after buying an additional 541 shares during the last quarter. 28.60% of the stock is owned by 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.