Piper Sandler Increases Shell (NYSE:SHEL) Price Target to $84.00

Shell (NYSE:SHEL) had its price target increased by research analysts at Piper Sandler from $83.00 to $84.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the energy company’s stock. Piper Sandler’s price target would suggest a potential upside of 18.89% from the stock’s previous close.

Several other research firms have also recently weighed in on SHEL. Sanford C. Bernstein cut shares of Shell from an “outperform” rating to a “market perform” rating in a report on Monday, June 16th. Scotiabank restated an “outperform” rating on shares of Shell in a report on Friday, July 11th. TD Securities restated a “buy” rating on shares of Shell in a report on Friday, April 4th. Hsbc Global Res upgraded shares of Shell to a “strong-buy” rating in a report on Tuesday, May 13th. Finally, Wells Fargo & Company cut their price target on shares of Shell from $80.00 to $79.00 and set an “overweight” rating on the stock in a report on Thursday, June 26th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $78.69.

Shell Stock Up 0.4%

Shares of NYSE SHEL opened at $70.66 on Tuesday. The stock has a market capitalization of $210.08 billion, a P/E ratio of 16.28, a P/E/G ratio of 1.96 and a beta of 0.40. The company has a 50-day moving average price of $69.20 and a 200-day moving average price of $67.35. Shell has a 1 year low of $58.55 and a 1 year high of $74.46. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.32 and a quick ratio of 1.08.

Shell (NYSE:SHEL) last issued its quarterly earnings data on Friday, May 2nd. The energy company reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.30. The firm had revenue of $69.23 billion during the quarter, compared to analysts’ expectations of $79.18 billion. Shell had a net margin of 4.75% and a return on equity of 11.71%. During the same period last year, the company earned $2.40 earnings per share. On average, equities research analysts forecast that Shell will post 7.67 EPS 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 buyback $3.50 billion in outstanding shares. This buyback authorization permits the energy company to reacquire up to 1.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Institutional Trading of Shell

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Augustine Asset Management Inc. increased its holdings in Shell by 0.5% during the 2nd quarter. Augustine Asset Management Inc. now owns 105,121 shares of the energy company’s stock worth $7,402,000 after acquiring an additional 496 shares during the period. Old Port Advisors increased its holdings in shares of Shell by 159.0% in the 2nd quarter. Old Port Advisors now owns 15,370 shares of the energy company’s stock worth $1,082,000 after buying an additional 9,435 shares during the last quarter. TD Private Client Wealth LLC increased its holdings in shares of Shell by 14.9% in the 2nd quarter. TD Private Client Wealth LLC now owns 30,442 shares of the energy company’s stock worth $2,143,000 after buying an additional 3,947 shares during the last quarter. AdvisorNet Financial Inc increased its holdings in shares of Shell by 21.1% in the 2nd quarter. AdvisorNet Financial Inc now owns 3,105 shares of the energy company’s stock worth $219,000 after buying an additional 541 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Shell by 37.4% in the 2nd quarter. GAMMA Investing LLC now owns 7,925 shares of the energy company’s stock worth $558,000 after buying an additional 2,156 shares during the last quarter. Institutional investors own 28.60% of the company’s stock.

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.