Shell (NYSE:SHEL) Price Target Cut to $90.00 by Analysts at Scotiabank

Shell (NYSE:SHEL) had its price target cut by analysts at Scotiabank from $95.00 to $90.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “sector outperform” rating on the energy company’s stock. Scotiabank’s price target would suggest a potential upside of 23.14% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Wells Fargo & Company reduced their target price on shares of Shell from $91.00 to $90.00 and set an “overweight” rating for the company in a research report on Friday, June 21st. Argus boosted their target price on Shell from $77.00 to $79.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Finally, TD Securities increased their price target on Shell from $74.00 to $81.00 and gave the company a “buy” rating in a report on Friday, May 3rd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $73.40.

Shell Price Performance

SHEL traded up $0.11 during midday trading on Friday, hitting $73.09. 1,652,737 shares of the company traded hands, compared to its average volume of 4,269,562. The company has a current ratio of 1.42, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37. Shell has a 52-week low of $59.51 and a 52-week high of $74.61. The company has a market capitalization of $231.10 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 1.84 and a beta of 0.59. The business has a 50 day simple moving average of $71.58 and a two-hundred day simple moving average of $68.04.

Shell (NYSE:SHEL) last released its earnings results on Thursday, May 2nd. The energy company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.51. Shell had a return on equity of 13.83% and a net margin of 5.83%. The business had revenue of $74.70 billion for the quarter, compared to the consensus estimate of $88.03 billion. On average, equities analysts forecast that Shell will post 8.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SHEL. EP Wealth Advisors LLC lifted its stake in Shell by 111.2% during the 3rd quarter. EP Wealth Advisors LLC now owns 14,096 shares of the energy company’s stock worth $908,000 after acquiring an additional 7,423 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Shell by 7.1% during the third quarter. American Century Companies Inc. now owns 622,675 shares of the energy company’s stock worth $40,088,000 after purchasing an additional 41,460 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in shares of Shell by 11.5% in the third quarter. B. Riley Wealth Advisors Inc. now owns 30,899 shares of the energy company’s stock valued at $1,989,000 after purchasing an additional 3,192 shares in the last quarter. VisionPoint Advisory Group LLC purchased a new stake in Shell during the 3rd quarter worth approximately $26,000. Finally, Anchor Investment Management LLC purchased a new position in Shell in the 4th quarter valued at approximately $398,000. 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.