Shell (NYSE:SHEL) Price Target Cut to $72.00 by Analysts at Piper Sandler

Shell (NYSE:SHEL) had its price target trimmed by Piper Sandler from $82.00 to $72.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the energy company’s stock.

SHEL has been the subject of several other reports. Wells Fargo & Company cut their target price on shares of Shell from $88.00 to $87.00 and set an “overweight” rating for the company in a research note on Monday, December 9th. 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 on the stock in a research note on Thursday, October 10th. Barclays upgraded shares of Shell to a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, Sanford C. Bernstein upgraded shares of Shell to a “strong-buy” rating in a research note on Friday, October 11th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $79.80.

Shell Price Performance

Shares of SHEL opened at $60.64 on Thursday. The company has a market cap of $186.60 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 4.84 and a beta of 0.55. 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 company’s fifty day simple moving average is $65.47 and its 200 day simple moving average is $68.76. Shell has a 1-year low of $60.15 and a 1-year high of $74.61.

Shell Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Friday, November 15th were paid a $0.688 dividend. This represents a $2.75 annualized dividend and a yield of 4.54%. The ex-dividend date was Friday, November 15th. Shell’s dividend payout ratio (DPR) is 56.58%.

Institutional Investors Weigh In On Shell

A number of large investors have recently added to or reduced their stakes in SHEL. Fortitude Family Office LLC bought a new position in Shell in the 3rd quarter valued at about $30,000. Fairscale Capital LLC bought a new position in Shell in the second quarter valued at approximately $33,000. Valley Wealth Managers Inc. acquired a new position in Shell during the third quarter valued at approximately $33,000. Brooklyn Investment Group acquired a new stake in shares of Shell in the 3rd quarter valued at $35,000. Finally, GHP Investment Advisors Inc. raised its holdings in shares of Shell by 40.8% during the 3rd quarter. GHP Investment Advisors Inc. now owns 563 shares of the energy company’s stock worth $37,000 after buying an additional 163 shares in the last quarter. Institutional investors and hedge funds own 28.60% of the company’s stock.

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.