Wells Fargo & Company Cuts Shell (NYSE:SHEL) Price Target to $86.00

Shell (NYSE:SHEL) had its target price reduced by Wells Fargo & Company from $87.00 to $86.00 in a research note issued to investors on Friday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the energy company’s stock.

Other equities research analysts also recently issued research reports about the stock. Morgan Stanley raised shares of Shell from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $66.50 to $79.80 in a research report on Tuesday. Barclays upgraded Shell to a “strong-buy” rating in a research note on Wednesday, October 2nd. Piper Sandler lowered their price target on Shell from $82.00 to $72.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Citigroup raised shares of Shell to a “hold” rating in a report on Wednesday, October 2nd. Finally, Sanford C. Bernstein raised shares of Shell to a “strong-buy” rating in a report on Friday, October 11th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $79.69.

Shell Stock Performance

NYSE SHEL opened at $65.02 on Friday. The business’s 50-day simple moving average is $64.43 and its 200-day simple moving average is $68.10. Shell has a 1-year low of $60.15 and a 1-year high of $74.61. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.40 and a quick ratio of 1.13. The firm has a market capitalization of $200.08 billion, a P/E ratio of 13.38, a P/E/G ratio of 4.84 and a beta of 0.55.

Shell Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Friday, November 15th were issued a dividend of $0.688 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.75 annualized dividend and a yield of 4.23%. Shell’s payout ratio is 56.58%.

Hedge Funds Weigh In On Shell

Several hedge funds have recently modified their holdings of SHEL. FMR LLC boosted its stake in Shell by 5.2% during the third quarter. FMR LLC now owns 65,298,943 shares of the energy company’s stock valued at $4,306,465,000 after buying an additional 3,255,347 shares in the last quarter. Empyrean Capital Partners LP bought a new position in shares of Shell during the 2nd quarter valued at about $151,578,000. Jennison Associates LLC grew its stake in shares of Shell by 188.0% in the 3rd quarter. Jennison Associates LLC now owns 3,014,199 shares of the energy company’s stock worth $198,786,000 after purchasing an additional 1,967,672 shares during the last quarter. Holocene Advisors LP lifted its stake in Shell by 29.8% during the third quarter. Holocene Advisors LP now owns 3,773,617 shares of the energy company’s stock valued at $248,870,000 after purchasing an additional 866,954 shares during the last quarter. Finally, Mediolanum International Funds Ltd bought a new stake in Shell during the third quarter worth approximately $37,274,000. 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.