Wells Fargo & Company Has Lowered Expectations for Shell (NYSE:SHEL) Stock Price

Shell (NYSE:SHEL) had its price target lowered by Wells Fargo & Company from $87.00 to $83.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the energy company’s stock.

SHEL has been the topic of a number of other research reports. Morgan Stanley upgraded shares of Shell from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $66.50 to $79.80 in a report on Tuesday, January 7th. TD Securities restated a “buy” rating on shares of Shell in a report on Friday, April 4th. TD Cowen cut their price target on shares of Shell from $82.00 to $76.00 and set a “buy” rating on the stock in a report on Tuesday. Wolfe Research upgraded shares of Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research note on Friday, January 3rd. Finally, Royal Bank of Canada reiterated an “outperform” rating on shares of Shell in a research note on Wednesday, March 26th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $78.98.

Shell Stock Down 6.8 %

SHEL stock opened at $59.54 on Tuesday. Shell has a 12-month low of $58.55 and a 12-month high of $74.61. The company has a quick ratio of 1.10, a current ratio of 1.35 and a debt-to-equity ratio of 0.36. The company has a market cap of $180.02 billion, a price-to-earnings ratio of 11.86, a PEG ratio of 0.98 and a beta of 0.27. The company has a 50 day moving average of $67.66 and a two-hundred day moving average of $66.24.

Shell (NYSE:SHEL) last released its quarterly earnings results on Thursday, January 30th. The energy company reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.54). Shell had a net margin of 5.57% and a return on equity of 12.75%. On average, equities analysts anticipate that Shell will post 7.67 earnings per share for the current fiscal year.

Shell Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, February 14th were given a $0.716 dividend. This represents a $2.86 annualized dividend and a yield of 4.81%. This is a positive change from Shell’s previous quarterly dividend of $0.69. The ex-dividend date was Friday, February 14th. Shell’s dividend payout ratio (DPR) is currently 56.97%.

Institutional Trading of Shell

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Breakwater Capital Group grew its position in Shell by 23.7% in the 1st quarter. Breakwater Capital Group now owns 4,663 shares of the energy company’s stock worth $342,000 after purchasing an additional 894 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Shell by 6.5% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 4,529 shares of the energy company’s stock worth $332,000 after acquiring an additional 278 shares during the period. Gilman Hill Asset Management LLC lifted its holdings in shares of Shell by 4.1% during the 1st quarter. Gilman Hill Asset Management LLC now owns 59,178 shares of the energy company’s stock worth $4,337,000 after acquiring an additional 2,350 shares during the period. Fermata Advisors LLC bought a new position in shares of Shell during the 1st quarter worth about $391,000. Finally, HF Advisory Group LLC lifted its holdings in shares of Shell by 8.1% during the 1st quarter. HF Advisory Group LLC now owns 31,966 shares of the energy company’s stock worth $2,342,000 after acquiring an additional 2,406 shares during the period. 28.60% of the stock is currently owned by institutional investors and hedge funds.

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.