Shell (NYSE:SHEL) Price Target Cut to $80.00 by Analysts at Scotiabank

Shell (NYSE:SHEL) had its price target cut by Scotiabank from $90.00 to $80.00 in a report published on Thursday morning, Benzinga reports. They currently have a sector outperform rating on the energy company’s stock.

A number of other equities analysts have also weighed in on the stock. Citigroup upgraded shares of Shell to a hold rating in a report on Wednesday, October 2nd. Royal Bank of Canada upgraded Shell to a moderate buy rating in a research note on Tuesday, July 30th. Berenberg Bank raised Shell to a strong-buy rating in a research note on Monday, August 5th. Wolfe Research began coverage on shares of Shell in a research report on Thursday, July 18th. They set a peer perform rating for the company. Finally, Barclays upgraded Shell to a strong-buy rating in a research note on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $82.00.

Shell Trading Down 0.5 %

Shares of SHEL stock opened at $68.49 on Thursday. Shell has a twelve month low of $60.34 and a twelve month high of $74.61. The company has a market capitalization of $214.43 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 1.57 and a beta of 0.56. The firm has a 50-day moving average price of $69.58 and a 200 day moving average price of $70.89. The company has a current ratio of 1.41, a quick ratio of 1.12 and a debt-to-equity ratio of 0.35.

Shell (NYSE:SHEL) last announced its earnings results on Thursday, August 1st. The energy company reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.15. Shell had a net margin of 5.97% and a return on equity of 14.56%. The firm had revenue of $75.06 billion for the quarter, compared to analyst estimates of $88.62 billion. During the same quarter last year, the business earned $1.50 earnings per share. Research analysts forecast that Shell will post 8.44 earnings per share for the current fiscal year.

Shell Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, August 16th were issued a $0.688 dividend. This represents a $2.75 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend was Friday, August 16th. Shell’s dividend payout ratio is currently 49.11%.

Hedge Funds Weigh In On Shell

A number of institutional investors have recently made changes to their positions in the business. Empyrean Capital Partners LP bought a new stake in Shell in the second quarter valued at about $151,578,000. Mondrian Investment Partners LTD lifted its stake in Shell by 83.2% during the first quarter. Mondrian Investment Partners LTD now owns 2,187,872 shares of the energy company’s stock worth $146,675,000 after purchasing an additional 993,342 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Shell by 13.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,715,078 shares of the energy company’s stock worth $450,180,000 after purchasing an additional 772,736 shares during the period. Raymond James & Associates raised its holdings in shares of Shell by 65.7% during the second quarter. Raymond James & Associates now owns 1,698,247 shares of the energy company’s stock worth $122,579,000 after purchasing an additional 673,624 shares during the period. Finally, Senator Investment Group LP bought a new position in shares of Shell in the 1st quarter worth about $42,775,000. 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.