Shell (LON:SHEL) Price Target Cut to GBX 3,100 by Analysts at Bank of America

Shell (LON:SHEL – Get Rating) had its price target cut by Bank of America from GBX 3,200 ($39.05) to GBX 3,100 ($37.83) in a report published on Tuesday morning, LSE.Co.UK reports. They currently have a top pick rating on the stock.

A number of other brokerages have also issued reports on SHEL. Royal Bank of Canada set a GBX 3,200 ($39.05) price target on Shell in a research note on Monday, January 9th. Jefferies Financial Group set a GBX 3,100 ($37.83) price objective on Shell in a report on Monday, January 9th. Berenberg Bank increased their price objective on Shell from GBX 2,800 ($34.17) to GBX 2,900 ($35.39) and gave the stock a buy rating in a report on Monday, October 31st. Credit Suisse Group set a GBX 3,500 ($42.71) price objective on Shell in a report on Monday, January 9th. Finally, Deutsche Bank Aktiengesellschaft set a GBX 2,987 ($36.45) target price on Shell in a report on Monday, January 9th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Buy and a consensus price target of GBX 2,970.18 ($36.24).

Shell Stock Performance

Shares of LON:SHEL opened at GBX 2,419 ($29.52) on Tuesday. Shell has a 12 month low of GBX 1,833.40 ($22.37) and a 12 month high of GBX 2,557 ($31.20). The business has a 50-day moving average of GBX 2,350.12 and a two-hundred day moving average of GBX 2,277.45. The company has a debt-to-equity ratio of 43.10, a current ratio of 1.38 and a quick ratio of 0.87. The firm has a market capitalization of £169.38 billion and a PE ratio of 516.88.

Shell Announces Dividend

The company also recently declared a dividend, which was paid on Monday, December 19th. Investors of record on Thursday, November 10th were issued a dividend of $0.25 per share. This represents a yield of 0.93%. The ex-dividend date of this dividend was Thursday, November 10th. Shell’s dividend payout ratio (DPR) is presently 21.14%.

About Shell

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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 necessary to deliver gas to market.