Wells Fargo & Company Raises Shell (NYSE:SHEL) Price Target to $91.00

Shell (NYSE:SHEL) had its target price increased by Wells Fargo & Company from $88.00 to $91.00 in a research report report published on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the energy company’s stock.

Several other analysts have also issued reports on SHEL. TheStreet upgraded Shell from a c rating to a b- rating in a report on Monday, January 29th. TD Securities upped their price objective on Shell from $74.00 to $81.00 and gave the stock a buy rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $66.50.

Shell Trading Up 0.4 %

NYSE:SHEL opened at $72.37 on Friday. The business’s 50-day simple moving average is $68.43 and its 200-day simple moving average is $66.01. Shell has a fifty-two week low of $55.78 and a fifty-two week high of $73.94. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.42 and a quick ratio of 1.14. The stock has a market capitalization of $232.86 billion, a PE ratio of 13.35, a price-to-earnings-growth ratio of 1.70 and a beta of 0.59.

Shell (NYSE:SHEL) last posted its quarterly earnings data on Thursday, February 1st. The energy company reported $2.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.28. Shell had a net margin of 5.83% and a return on equity of 13.83%. The company had revenue of $80.13 billion for the quarter, compared to the consensus estimate of $89.59 billion. During the same period last year, the company earned $2.76 earnings per share. Sell-side analysts expect that Shell will post 8.22 earnings per share for the current fiscal year.

Shell Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Friday, May 17th will be paid a $0.688 dividend. This represents a $2.75 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend is Thursday, May 16th. This is a boost from Shell’s previous quarterly dividend of $0.66. Shell’s dividend payout ratio is 50.74%.

Institutional Trading of Shell

Several hedge funds and other institutional investors have recently modified their holdings of SHEL. FMR LLC grew its position in shares of Shell by 29.1% in the third quarter. FMR LLC now owns 29,087,703 shares of the energy company’s stock valued at $1,872,666,000 after purchasing an additional 6,554,340 shares during the last quarter. Invesco Ltd. increased its position in Shell by 162.9% during the 3rd quarter. Invesco Ltd. now owns 1,763,562 shares of the energy company’s stock worth $113,538,000 after buying an additional 1,092,670 shares during the period. Mawer Investment Management Ltd. boosted its position in shares of Shell by 19.9% in the fourth quarter. Mawer Investment Management Ltd. now owns 5,325,276 shares of the energy company’s stock valued at $350,403,000 after acquiring an additional 885,069 shares during the period. Wellington Management Group LLP increased its position in Shell by 10.7% during the third quarter. Wellington Management Group LLP now owns 8,742,878 shares of the energy company’s stock worth $562,866,000 after acquiring an additional 848,104 shares during the period. Finally, L1 Capital Pty Ltd raised its stake in Shell by 188.7% in the 3rd quarter. L1 Capital Pty Ltd now owns 1,224,617 shares of the energy company’s stock worth $78,841,000 after purchasing an additional 800,365 shares in the last quarter. 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.