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

Shell (NYSE:SHEL) had its target price hoisted by Wells Fargo & Company from $81.00 to $87.00 in a report issued on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the energy company’s stock.

SHEL has been the subject of several other research reports. UBS Group raised Shell from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 8th. Piper Sandler dropped their target price on shares of Shell from $82.00 to $72.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. TD Securities increased their price objective on Shell from $81.00 to $82.00 and gave the company a “buy” rating in a research report on Wednesday, March 19th. TD Cowen initiated coverage on shares of Shell in a report on Wednesday, March 19th. They set a “buy” rating and a $81.00 target price on the stock. Finally, Morgan Stanley upgraded shares of Shell from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $66.50 to $79.80 in a research report on Tuesday, January 7th. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $80.10.

Shell Stock Up 1.3 %

Shares of NYSE SHEL opened at $73.00 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.35 and a debt-to-equity ratio of 0.36. The company has a market cap of $220.73 billion, a P/E ratio of 14.54, a P/E/G ratio of 0.98 and a beta of 0.47. Shell has a 52 week low of $60.15 and a 52 week high of $74.61. The business has a 50-day simple moving average of $67.43 and a two-hundred day simple moving average of $66.33.

Shell (NYSE:SHEL) last issued its quarterly earnings data on Thursday, January 30th. The energy company reported $1.20 EPS for the quarter, missing the consensus estimate of $1.74 by ($0.54). Shell had a net margin of 5.57% and a return on equity of 12.75%. Research analysts anticipate that Shell will post 7.67 earnings per share for the current fiscal year.

Shell Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, February 14th were issued a dividend of $0.716 per share. This represents a $2.86 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from Shell’s previous quarterly dividend of $0.69. Shell’s payout ratio is currently 56.97%.

Institutional Investors Weigh In On Shell

Large investors have recently made changes to their positions in the business. Valley National Advisers Inc. increased its position in shares of Shell by 930.2% during the fourth quarter. Valley National Advisers Inc. now owns 443 shares of the energy company’s stock valued at $27,000 after buying an additional 400 shares during the period. CoreFirst Bank & Trust bought a new position in shares of Shell in the 4th quarter worth approximately $28,000. Human Investing LLC purchased a new position in shares of Shell in the 4th quarter valued at approximately $31,000. Transce3nd LLC purchased a new stake in Shell in the fourth quarter worth $34,000. Finally, Brooklyn Investment Group bought a new position in Shell in the third quarter worth $35,000. 28.60% of the stock is currently 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.