Piper Sandler Has Lowered Expectations for Shell (NYSE:SHEL) Stock Price

Shell (NYSE:SHEL) had its price target dropped by equities research analysts at Piper Sandler from $82.00 to $72.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the energy company’s stock. Piper Sandler’s price target would indicate a potential upside of 18.54% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Citigroup raised shares of Shell to a “hold” rating in a report on Wednesday, October 2nd. Sanford C. Bernstein upgraded Shell to a “strong-buy” rating in a research note on Friday, October 11th. Barclays upgraded Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company lowered their price target on shares of Shell from $88.00 to $87.00 and set an “overweight” rating on the stock in a research note on Monday, December 9th. Finally, Scotiabank decreased their price objective on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $79.80.

Shell Stock Performance

Shares of Shell stock traded up $0.11 during trading hours on Thursday, hitting $60.74. 3,253,230 shares of the company were exchanged, compared to its average volume of 4,208,678. The business has a 50-day moving average of $65.79 and a 200-day moving average of $68.89. Shell has a 1 year low of $60.34 and a 1 year high of $74.61. The company has a current ratio of 1.40, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $186.91 billion, a price-to-earnings ratio of 12.50, a P/E/G ratio of 4.84 and a beta of 0.55.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SHEL. Fortitude Family Office LLC purchased a new position in shares of Shell during the third quarter valued at approximately $30,000. Fairscale Capital LLC acquired a new stake in shares of Shell during the second quarter worth $33,000. Valley Wealth Managers Inc. purchased a new stake in shares of Shell in the third quarter valued at $33,000. Brooklyn Investment Group purchased a new position in Shell during the third quarter worth about $35,000. Finally, GHP Investment Advisors Inc. grew its holdings in Shell by 40.8% in the 3rd quarter. GHP Investment Advisors Inc. now owns 563 shares of the energy company’s stock valued at $37,000 after buying an additional 163 shares during the period. 28.60% of the stock is currently owned by hedge funds and other 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.