Shell plc (NYSE:SHEL) Receives $82.00 Average Price Target from Brokerages

Shell plc (NYSE:SHEL) has been assigned a consensus recommendation of “Buy” from the ten brokerages that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and three have issued a strong buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $82.00.

Several equities analysts recently commented on SHEL shares. Sanford C. Bernstein upgraded Shell to a “strong-buy” rating in a research report on Friday, October 11th. Berenberg Bank upgraded Shell to a “strong-buy” rating in a research report on Monday, August 5th. Barclays upgraded Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company raised their price target on Shell from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, Wolfe Research began coverage on Shell in a report on Thursday, July 18th. They set a “peer perform” rating for the company.

Institutional Investors Weigh In On Shell

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Encompass More Asset Management increased its stake in shares of Shell by 81.4% in the 3rd quarter. Encompass More Asset Management now owns 7,294 shares of the energy company’s stock valued at $481,000 after buying an additional 3,273 shares during the period. Verition Fund Management LLC boosted its position in shares of Shell by 18.5% in the 3rd quarter. Verition Fund Management LLC now owns 716,753 shares of the energy company’s stock worth $47,270,000 after purchasing an additional 112,029 shares during the last quarter. Icon Wealth Advisors LLC boosted its position in shares of Shell by 40.7% in the 3rd quarter. Icon Wealth Advisors LLC now owns 4,865 shares of the energy company’s stock worth $321,000 after purchasing an additional 1,408 shares during the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of Shell by 1.5% in the 3rd 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 during the last quarter. Finally, Northwest & Ethical Investments L.P. boosted its position in shares of Shell by 29.1% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 322,691 shares of the energy company’s stock worth $21,281,000 after purchasing an additional 72,663 shares during the last quarter. 28.60% of the stock is owned by institutional investors and hedge funds.

Shell Price Performance

Shell stock opened at $65.79 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.40 and a quick ratio of 1.13. The company has a market capitalization of $204.75 billion, a PE ratio of 13.54, a price-to-earnings-growth ratio of 1.98 and a beta of 0.56. Shell has a one year low of $60.34 and a one year high of $74.61. The business has a 50 day simple moving average of $67.41 and a 200 day simple moving average of $70.23.

Shell Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 15th will be paid a $0.688 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.75 annualized dividend and a dividend yield of 4.18%. Shell’s dividend payout ratio (DPR) is currently 56.58%.

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.