Shell (NYSE:SHEL) Price Target Raised to $87.00

Shell (NYSE:SHEL) had its target price raised by Wells Fargo & Company from $81.00 to $87.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the energy company’s stock.

SHEL has been the topic of several other reports. Piper Sandler lowered their price target on shares of Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Morgan Stanley upgraded Shell from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $66.50 to $79.80 in a research report on Tuesday, January 7th. TD Cowen started coverage on shares of Shell in a research note on Wednesday, March 19th. They set a “buy” rating and a $81.00 price objective on the stock. UBS Group raised shares of Shell from a “neutral” rating to a “buy” rating in a report on Wednesday, January 8th. Finally, Wolfe Research raised 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. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $80.10.

Shell Stock Performance

Shares of SHEL opened at $72.74 on Wednesday. The stock has a 50-day moving average of $67.68 and a two-hundred day moving average of $66.41. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.10 and a current ratio of 1.35. The stock has a market cap of $219.95 billion, a P/E ratio of 14.49, a P/E/G ratio of 0.98 and a beta of 0.47. Shell has a one year low of $60.15 and a one year high of $74.61.

Shell (NYSE:SHEL) last issued its earnings results on Thursday, January 30th. The energy company reported $1.20 EPS 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%. As a group, research analysts predict that Shell will post 7.67 EPS for the current year.

Shell Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, February 14th were issued a dividend of $0.716 per share. This is a boost from Shell’s previous quarterly dividend of $0.69. This represents a $2.86 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend was Friday, February 14th. Shell’s payout ratio is currently 56.97%.

Hedge Funds Weigh In On Shell

A number of institutional investors have recently added to or reduced their stakes in SHEL. Brighton Jones LLC increased its position in Shell by 51.7% during the fourth quarter. Brighton Jones LLC now owns 7,463 shares of the energy company’s stock worth $468,000 after purchasing an additional 2,545 shares during the last quarter. Private Advisor Group LLC increased its stake in Shell by 0.9% during the fourth quarter. Private Advisor Group LLC now owns 33,168 shares of the energy company’s stock worth $2,078,000 after acquiring an additional 301 shares during the last quarter. HF Advisory Group LLC grew its holdings in shares of Shell by 15.8% during the 4th quarter. HF Advisory Group LLC now owns 29,560 shares of the energy company’s stock worth $1,852,000 after purchasing an additional 4,028 shares during the period. Rockefeller Capital Management L.P. increased its position in shares of Shell by 1.5% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 3,125,284 shares of the energy company’s stock worth $206,116,000 after purchasing an additional 46,293 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Shell by 8.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 199,856 shares of the energy company’s stock valued at $12,521,000 after buying an additional 14,937 shares during the last quarter. Hedge funds and other institutional investors own 28.60% of the company’s stock.

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.