Shell (NYSE:SHEL) Given New $82.00 Price Target at Wells Fargo & Company

Shell (NYSE:SHEL) had its price objective cut by Wells Fargo & Company from $86.00 to $82.00 in a report issued on Friday morning,Benzinga reports. They currently have an overweight rating on the energy company’s stock.

A number of other research analysts also recently issued reports on SHEL. UBS Group upgraded Shell from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 8th. Piper Sandler decreased their price objective on shares of Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Morgan Stanley raised shares of Shell from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $66.50 to $79.80 in a report on Tuesday, January 7th. Wolfe Research upgraded Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a research report on Friday, January 3rd. Finally, Sanford C. Bernstein raised Shell to a “strong-buy” rating in a research note on Friday, October 11th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Shell currently has a consensus rating of “Buy” and a consensus price target of $79.11.

Shell Stock Performance

Shares of NYSE SHEL opened at $65.82 on Friday. 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 has a 12-month low of $60.15 and a 12-month high of $74.61. The firm has a market capitalization of $201.23 billion, a price-to-earnings ratio of 13.54, a price-to-earnings-growth ratio of 6.46 and a beta of 0.55. The firm has a 50 day moving average of $64.17 and a 200 day moving average of $67.36.

Shell (NYSE:SHEL) last posted its quarterly earnings data on Thursday, January 30th. The energy company reported $1.20 EPS for the quarter, missing the consensus estimate of $1.74 by ($0.54). Shell had a return on equity of 14.54% and a net margin of 5.17%. On average, research analysts anticipate that Shell will post 8.11 earnings per share for the current year.

Shell Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, February 14th will be paid a dividend of $0.716 per share. This is an increase from Shell’s previous quarterly dividend of $0.69. The ex-dividend date is Friday, February 14th. This represents a $2.86 dividend on an annualized basis and a yield of 4.35%. Shell’s dividend payout ratio is presently 56.58%.

Institutional Trading of Shell

A number of large investors have recently made changes to their positions in the business. FMR LLC increased its stake in Shell by 5.2% during the third quarter. FMR LLC now owns 65,298,943 shares of the energy company’s stock worth $4,306,465,000 after acquiring an additional 3,255,347 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Shell by 188.0% in the 3rd quarter. Jennison Associates LLC now owns 3,014,199 shares of the energy company’s stock worth $198,786,000 after purchasing an additional 1,967,672 shares during the period. Holocene Advisors LP raised its holdings in Shell by 29.8% during the 3rd quarter. Holocene Advisors LP now owns 3,773,617 shares of the energy company’s stock valued at $248,870,000 after buying an additional 866,954 shares during the period. Mediolanum International Funds Ltd purchased a new position in Shell during the third quarter worth $37,274,000. Finally, Fisher Asset Management LLC increased its position in Shell by 2.1% during the third quarter. Fisher Asset Management LLC now owns 24,530,647 shares of the energy company’s stock valued at $1,617,796,000 after acquiring an additional 507,311 shares during the last quarter. 28.60% of the stock is currently owned by institutional investors.

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.