Shell (NYSE:SHEL) Upgraded at Wolfe Research

Shell (NYSE:SHEL) was upgraded by research analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a report released on Friday, Marketbeat.com reports. The firm presently has a $80.00 price target on the energy company’s stock. Wolfe Research’s price objective would indicate a potential upside of 23.99% from the company’s previous close.

Other analysts also recently issued reports about the stock. Sanford C. Bernstein upgraded shares of Shell to a “strong-buy” rating in a report on Friday, October 11th. Wells Fargo & Company reduced 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 raised Shell to a “hold” rating in a research note on Wednesday, October 2nd. Barclays raised Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, Piper Sandler decreased their price target on shares of Shell from $82.00 to $72.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $79.83.

Shell Stock Performance

Shares of NYSE:SHEL opened at $64.52 on Friday. The company has a market capitalization of $198.54 billion, a price-to-earnings ratio of 13.28, a P/E/G ratio of 4.84 and a beta of 0.55. The firm’s 50 day simple moving average is $64.52 and its 200 day simple moving average is $68.23. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.40 and a quick ratio of 1.13. Shell has a fifty-two week low of $60.15 and a fifty-two week high of $74.61.

Hedge Funds Weigh In On Shell

A number of institutional investors and hedge funds have recently modified their holdings of SHEL. Coronation Fund Managers Ltd. lifted its stake in shares of Shell by 7.6% in the second quarter. Coronation Fund Managers Ltd. now owns 15,201 shares of the energy company’s stock valued at $1,097,000 after buying an additional 1,068 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Shell during the 2nd quarter worth approximately $49,000. Rhumbline Advisers raised its stake in shares of Shell by 9.8% in the second quarter. Rhumbline Advisers now owns 35,107 shares of the energy company’s stock worth $2,534,000 after purchasing an additional 3,143 shares during the last quarter. TIAA Trust National Association lifted its holdings in shares of Shell by 1.7% in the second quarter. TIAA Trust National Association now owns 13,792 shares of the energy company’s stock valued at $996,000 after purchasing an additional 224 shares in the last quarter. Finally, Columbia Asset Management grew its holdings in Shell by 4.9% during the second quarter. Columbia Asset Management now owns 50,282 shares of the energy company’s stock worth $3,629,000 after buying an additional 2,345 shares in the last quarter. 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.