Shell (NYSE:SHEL) Earns Overweight Rating from Piper Sandler

Shell (NYSE:SHEL)‘s stock had its “overweight” rating reiterated by analysts at Piper Sandler in a research report issued on Wednesday, Marketbeat reports. They currently have a $83.00 price objective on the energy company’s stock, up from their previous price objective of $80.00. Piper Sandler’s target price indicates a potential upside of 16.25% from the stock’s previous close.

Several other brokerages have also recently commented on SHEL. Wells Fargo & Company reduced their price target on shares of Shell from $80.00 to $79.00 and set an “overweight” rating on the stock in a research report on Thursday, June 26th. Scotiabank reduced their target price on Shell from $75.00 to $70.00 and set a “sector outperform” rating on the stock in a report on Friday, April 11th. TD Securities reiterated a “buy” rating on shares of Shell in a report on Friday, April 4th. Sanford C. Bernstein cut Shell from an “outperform” rating to a “market perform” rating in a research note on Monday, June 16th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Shell in a research note on Wednesday, March 26th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $78.54.

Shell Price Performance

Shares of NYSE SHEL opened at $71.40 on Wednesday. The business has a 50 day moving average price of $68.15 and a two-hundred day moving average price of $66.73. Shell has a fifty-two week low of $58.55 and a fifty-two week high of $74.46. The firm has a market cap of $212.28 billion, a PE ratio of 16.45, a price-to-earnings-growth ratio of 1.83 and a beta of 0.40. The company has a quick ratio of 1.08, a current ratio of 1.32 and a debt-to-equity ratio of 0.36.

Shell (NYSE:SHEL) last issued its quarterly earnings results on Friday, May 2nd. The energy company reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.30. Shell had a net margin of 4.75% and a return on equity of 11.71%. The business had revenue of $69.23 billion during the quarter, compared to analyst estimates of $79.18 billion. During the same quarter in the previous year, the firm earned $2.40 earnings per share. Sell-side analysts expect that Shell will post 7.67 earnings per share for the current fiscal year.

Shell announced that its board has authorized a share buyback program on Friday, May 2nd that permits the company to repurchase $3.50 billion in outstanding shares. This repurchase authorization permits the energy company to buy up to 1.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. First Wilshire Securities Management Inc. raised its holdings in shares of Shell by 1.6% during the fourth quarter. First Wilshire Securities Management Inc. now owns 9,518 shares of the energy company’s stock valued at $596,000 after buying an additional 153 shares during the last quarter. Titleist Asset Management LLC raised its stake in Shell by 3.1% during the 4th quarter. Titleist Asset Management LLC now owns 5,526 shares of the energy company’s stock valued at $346,000 after acquiring an additional 164 shares in the last quarter. Sax Wealth Advisors LLC boosted its position in Shell by 3.9% during the 1st quarter. Sax Wealth Advisors LLC now owns 4,367 shares of the energy company’s stock worth $320,000 after acquiring an additional 164 shares during the period. Warther Private Wealth LLC grew its stake in shares of Shell by 5.0% in the first quarter. Warther Private Wealth LLC now owns 3,433 shares of the energy company’s stock worth $252,000 after purchasing an additional 165 shares in the last quarter. Finally, Harbour Capital Advisors LLC raised its stake in shares of Shell by 2.4% during the first quarter. Harbour Capital Advisors LLC now owns 7,235 shares of the energy company’s stock valued at $505,000 after purchasing an additional 170 shares in the last quarter. 28.60% of the stock is owned by institutional investors and hedge funds.

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.