Shell’s (SHEL) “Buy” Rating Reaffirmed at The Goldman Sachs Group

The Goldman Sachs Group restated their buy rating on shares of Shell (NYSE:SHEL) in a research report report published on Monday morning.

Other equities research analysts have also issued reports about the stock. Weiss Ratings raised shares of Shell from a “buy (a-)” rating to a “buy (a)” rating in a report on Friday. Piper Sandler increased their price target on Shell from $89.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, September 3rd. Wall Street Zen upgraded shares of Shell from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Mizuho set a $103.00 price target on shares of Shell in a research report on Monday, October 12th. Finally, HSBC reiterated a “buy” rating on shares of Shell in a research note on Friday, September 25th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, Shell has a consensus rating of “Moderate Buy” and a consensus target price of $107.08.

Shell Price Performance

Shares of NYSE:SHEL traded down $0.69 during trading on Monday, hitting $104.25. 5,530,416 shares of the company were exchanged, compared to its average volume of 6,882,503. Shell has a 1-year low of $68.63 and a 1-year high of $109.37. The company has a market capitalization of $298.65 billion, a P/E ratio of 9.05, a price-to-earnings-growth ratio of 0.86 and a beta of 0.10. The company has a quick ratio of 1.12, a current ratio of 1.43 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average is $98.33 and its 200-day moving average is $88.33.

Shell (NYSE:SHEL) last issued its quarterly earnings data on Thursday, October 29th. The energy company reported $3.86 earnings per share for the quarter, topping analysts’ consensus estimates of $3.60 by $0.26. Shell had a return on equity of 14.34% and a net margin of 8.55%. The business had revenue of $92.85 billion for the quarter, compared to analyst estimates of $93.25 billion. Equities analysts forecast that Shell will post 11.94 earnings per share for the current year.

Shell declared that its Board of Directors has approved a stock buyback program on Thursday, October 29th that authorizes the company to repurchase $5 billion in shares. This repurchase authorization authorizes the energy company to purchase up to 1.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Shell

Large investors have recently made changes to their positions in the business. Formidable Asset Management LLC bought a new stake in Shell in the third quarter worth $929,000. Palisade Asset Management LLC lifted its stake in shares of Shell by 17.7% during the 3rd quarter. Palisade Asset Management LLC now owns 3,943 shares of the energy company’s stock worth $375,000 after purchasing an additional 593 shares during the last quarter. American Institute for Advanced Investment Management LLP purchased a new position in shares of Shell in the 3rd quarter worth approximately $229,000. Parallel Advisors LLC increased its position in shares of Shell by 14.1% during the third quarter. Parallel Advisors LLC now owns 25,151 shares of the energy company’s stock worth $2,391,000 after purchasing an additional 3,108 shares in the last quarter. Finally, Plancorp LLC boosted its holdings in Shell by 10.0% in the third quarter. Plancorp LLC now owns 3,378 shares of the energy company’s stock worth $321,000 after acquiring an additional 307 shares in the last quarter. 28.60% of the stock is currently owned by hedge funds and other institutional investors.

Shell Company Profile

Shell plc is a global energy company headquartered in London, England. Its operations span the energy value chain, including the exploration, production, processing, trading and marketing of oil and natural gas. The company is also a major participant in liquefied natural gas (LNG), refining, chemicals and energy-related products.

Shell sells fuels, lubricants and other petroleum products through branded retail and commercial businesses, while also providing services to industrial, marine and aviation customers.