Brokerages Set Shell plc (NYSE:SHEL) Price Target at $82.00

Shell plc (NYSE:SHEL) has been given an average recommendation of “Buy” by the ten ratings firms that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $82.00.

SHEL has been the subject of several research analyst reports. Wells Fargo & Company boosted their price objective on Shell from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Citigroup upgraded shares of Shell to a “hold” rating in a report on Wednesday, October 2nd. Sanford C. Bernstein raised shares of Shell to a “strong-buy” rating in a research note on Friday, October 11th. Wolfe Research assumed coverage on Shell in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Royal Bank of Canada upgraded Shell to a “moderate buy” rating in a report on Tuesday, July 30th.

Shell Stock Performance

SHEL stock opened at $65.57 on Friday. Shell has a 1-year low of $60.34 and a 1-year high of $74.61. The business’s 50-day moving average price is $67.47 and its two-hundred day moving average price is $70.27. The firm has a market cap of $204.06 billion, a PE ratio of 13.49, a P/E/G ratio of 2.02 and a beta of 0.56. The company has a current ratio of 1.40, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34.

Shell Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 15th will be issued a $0.688 dividend. This represents a $2.75 annualized dividend and a dividend yield of 4.20%. The ex-dividend date is Friday, November 15th. Shell’s payout ratio is presently 56.58%.

Institutional Trading of Shell

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. NorthCrest Asset Manangement LLC raised its holdings in shares of Shell by 6.4% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 3,741 shares of the energy company’s stock valued at $247,000 after purchasing an additional 225 shares during the period. Lazard Asset Management LLC lifted its position in shares of Shell by 21.0% in the first quarter. Lazard Asset Management LLC now owns 44,896 shares of the energy company’s stock valued at $3,009,000 after buying an additional 7,779 shares during the last quarter. Creative Planning increased its holdings in shares of Shell by 11.3% during the 2nd quarter. Creative Planning now owns 292,587 shares of the energy company’s stock worth $21,119,000 after acquiring an additional 29,677 shares during the last quarter. Raymond James & Associates lifted its holdings in Shell by 65.7% during the 2nd quarter. Raymond James & Associates now owns 1,698,247 shares of the energy company’s stock valued at $122,579,000 after purchasing an additional 673,624 shares during the last quarter. Finally, Foresight Global Investors Inc. acquired a new position in shares of Shell in the second quarter valued at $1,472,000. 28.60% of the stock is owned by institutional investors.

Shell Company Profile

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.