Wells Fargo & Company Cuts Shell (NYSE:SHEL) Price Target to $86.00

Shell (NYSE:SHEL) had its target price decreased by Wells Fargo & Company from $87.00 to $86.00 in a report released on Friday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the energy company’s stock.

A number of other research analysts have also recently weighed in on the stock. Piper Sandler lowered their target price on shares of Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. UBS Group raised Shell from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 8th. Barclays raised Shell to a “strong-buy” rating in a research note on Wednesday, October 2nd. Sanford C. Bernstein upgraded Shell to a “strong-buy” rating in a research note on Friday, October 11th. Finally, Morgan Stanley upgraded shares of Shell from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $66.50 to $79.80 in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $79.69.

Shell Price Performance

NYSE SHEL opened at $65.02 on Friday. The stock has a market cap of $200.08 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 4.84 and a beta of 0.55. Shell has a 12 month low of $60.15 and a 12 month high of $74.61. The company’s 50 day moving average is $64.38 and its two-hundred day moving average is $68.03. The company has a current ratio of 1.40, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34.

Shell Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Friday, November 15th were given a dividend of $0.688 per share. The ex-dividend date was Friday, November 15th. This represents a $2.75 dividend on an annualized basis and a yield of 4.23%. Shell’s dividend payout ratio (DPR) is presently 56.58%.

Hedge Funds Weigh In On Shell

Large investors have recently modified their holdings of the stock. Fairscale Capital LLC purchased a new stake in shares of Shell in the second quarter valued at $33,000. Fortitude Family Office LLC bought a new stake in Shell in the third quarter worth about $30,000. Valley Wealth Managers Inc. bought a new position in shares of Shell during the third quarter valued at approximately $33,000. Brooklyn Investment Group purchased a new stake in shares of Shell in the third quarter worth approximately $35,000. Finally, GHP Investment Advisors Inc. boosted its holdings in Shell by 40.8% during the 3rd quarter. GHP Investment Advisors Inc. now owns 563 shares of the energy company’s stock valued at $37,000 after acquiring an additional 163 shares during the period. Institutional investors 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.