Shell (NYSE:SHEL) Stock Price Expected to Rise, Piper Sandler Analyst Says

Shell (NYSE:SHEL) had its target price hoisted by equities researchers at Piper Sandler from $72.00 to $80.00 in a research report issued to clients and investors on Tuesday, Marketbeat reports. The firm currently has an “overweight” rating on the energy company’s stock. Piper Sandler’s price target suggests a potential upside of 19.15% from the company’s previous close.

SHEL has been the topic of several other research reports. Wells Fargo & Company cut their price target on Shell from $83.00 to $80.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. Barclays reaffirmed an “overweight” rating on shares of Shell in a research note on Wednesday, March 26th. TD Cowen cut their price target on Shell from $82.00 to $76.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Shell in a research note on Wednesday, March 26th. Finally, TD Securities reaffirmed a “buy” rating on shares of Shell in a research note on Friday, April 4th. One 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 stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $78.35.

Shell Stock Down 0.7%

Shares of SHEL stock opened at $67.14 on Tuesday. The firm has a market cap of $201.96 billion, a PE ratio of 13.37, a price-to-earnings-growth ratio of 0.98 and a beta of 0.38. The company has a quick ratio of 1.10, a current ratio of 1.35 and a debt-to-equity ratio of 0.36. Shell has a 12 month low of $58.55 and a 12 month high of $74.46. The stock has a 50 day moving average of $66.79 and a 200-day moving average of $65.86.

Shell (NYSE:SHEL) last announced its quarterly earnings results on Friday, May 2nd. The energy company reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.30. The firm had revenue of $69.23 billion for the quarter, compared to analysts’ expectations of $79.18 billion. Shell had a return on equity of 12.75% and a net margin of 5.57%. During the same period in the prior year, the business posted $2.40 earnings per share. On average, equities analysts predict that Shell will post 7.67 EPS for the current year.

Shell announced that its board has approved a share buyback program on Friday, May 2nd that allows the company to buyback $3.50 billion in outstanding shares. This buyback authorization allows the energy company to reacquire up to 1.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Shell

A number of hedge funds have recently modified their holdings of SHEL. Kennebec Savings Bank acquired a new stake in shares of Shell during the first quarter worth about $25,000. Avalon Trust Co acquired a new stake in shares of Shell during the first quarter worth about $25,000. Brown Lisle Cummings Inc. raised its position in shares of Shell by 103.4% during the first quarter. Brown Lisle Cummings Inc. now owns 356 shares of the energy company’s stock worth $26,000 after purchasing an additional 181 shares during the period. Valley National Advisers Inc. raised its position in shares of Shell by 930.2% during the fourth quarter. Valley National Advisers Inc. now owns 443 shares of the energy company’s stock worth $27,000 after purchasing an additional 400 shares during the period. Finally, CoreFirst Bank & Trust bought a new position in shares of Shell during the fourth quarter worth about $28,000. Institutional investors and hedge funds own 28.60% of the company’s stock.

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.