Shell (NYSE:SHEL) Given New $87.00 Price Target at Wells Fargo & Company

Shell (NYSE:SHEL) had its price target lowered by Wells Fargo & Company from $88.00 to $87.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has an overweight rating on the energy company’s stock.

SHEL has been the subject of several other reports. Citigroup upgraded Shell to a “hold” rating in a research note on Wednesday, October 2nd. Scotiabank dropped their price target on Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Sanford C. Bernstein upgraded Shell to a “strong-buy” rating in a research note on Friday, October 11th. Finally, Barclays upgraded Shell to a “strong-buy” rating in a research note on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating, four have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $81.75.

Shell Trading Up 2.3 %

Shell stock opened at $64.70 on Monday. Shell has a 12-month low of $60.34 and a 12-month high of $74.61. The company has a current ratio of 1.40, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $200.28 billion, a price-to-earnings ratio of 13.31, a P/E/G ratio of 1.94 and a beta of 0.55. The firm has a 50 day moving average of $66.53 and a 200 day moving average of $69.29.

Shell Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 15th will be given a $0.688 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.75 dividend on an annualized basis and a yield of 4.25%. Shell’s dividend payout ratio is presently 56.58%.

Institutional Trading of Shell

A number of institutional investors have recently bought and sold shares of SHEL. Inspire Trust Co. N.A. increased its stake in Shell by 26.9% in the third quarter. Inspire Trust Co. N.A. now owns 52,439 shares of the energy company’s stock worth $3,458,000 after purchasing an additional 11,105 shares during the period. Franklin Resources Inc. increased its stake in Shell by 0.9% in the third quarter. Franklin Resources Inc. now owns 5,972,945 shares of the energy company’s stock worth $408,430,000 after purchasing an additional 55,637 shares during the period. Peapack Gladstone Financial Corp increased its stake in Shell by 1.7% in the third quarter. Peapack Gladstone Financial Corp now owns 67,647 shares of the energy company’s stock worth $4,460,000 after purchasing an additional 1,152 shares during the period. Synovus Financial Corp increased its stake in Shell by 23.7% in the third quarter. Synovus Financial Corp now owns 105,674 shares of the energy company’s stock worth $6,969,000 after purchasing an additional 20,241 shares during the period. Finally, Tidal Investments LLC increased its stake in Shell by 267.9% in the third quarter. Tidal Investments LLC now owns 230,027 shares of the energy company’s stock worth $15,170,000 after purchasing an additional 167,502 shares during the period. 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.