Wells Fargo & Company Begins Coverage on Shell (NYSE:SHEL)

Equities research analysts at Wells Fargo & Company began coverage on shares of Shell (NYSE:SHEL) in a research report issued on Friday, MarketBeat Ratings reports. The brokerage set an “equal weight” rating and a $76.00 price target on the energy company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 4.74% from the stock’s current price.

SHEL has been the subject of a number of other research reports. Hsbc Global Res lowered shares of Shell from a “strong-buy” rating to a “hold” rating in a report on Monday, August 4th. TD Cowen raised their price objective on shares of Shell from $78.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Shell in a report on Wednesday, October 8th. Jefferies Financial Group upgraded shares of Shell to a “strong-buy” rating in a report on Tuesday, October 7th. Finally, BNP Paribas upgraded shares of Shell to a “strong-buy” rating in a report on Tuesday, September 23rd. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $79.41.

Shell Trading Up 1.7%

SHEL opened at $72.56 on Friday. The company’s 50 day moving average is $72.46 and its 200-day moving average is $69.69. Shell has a 1-year low of $58.54 and a 1-year high of $75.08. The company has a current ratio of 1.32, a quick ratio of 1.07 and a debt-to-equity ratio of 0.36. The company has a market cap of $210.85 billion, a P/E ratio of 16.34, a PEG ratio of 1.79 and a beta of 0.39.

Shell (NYSE:SHEL) last posted its quarterly earnings results on Thursday, July 31st. The energy company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.29. The company had revenue of $66.44 billion for the quarter, compared to the consensus estimate of $69.31 billion. Shell had a net margin of 4.93% and a return on equity of 10.67%. Equities research analysts predict that Shell will post 7.67 earnings per share for the current fiscal year.

Institutional Trading of Shell

Large investors have recently modified their holdings of the stock. Avalon Trust Co acquired a new stake in shares of Shell during the 1st quarter worth approximately $25,000. Westside Investment Management Inc. acquired a new stake in Shell in the 2nd quarter valued at $25,000. Brown Lisle Cummings Inc. grew its position in Shell by 103.4% in the 1st quarter. Brown Lisle Cummings Inc. now owns 356 shares of the energy company’s stock valued at $26,000 after purchasing an additional 181 shares during the period. Truvestments Capital LLC grew its position in Shell by 102.9% in the 1st quarter. Truvestments Capital LLC now owns 420 shares of the energy company’s stock valued at $31,000 after purchasing an additional 213 shares during the period. Finally, Salomon & Ludwin LLC grew its position in Shell by 50.5% in the 2nd quarter. Salomon & Ludwin LLC now owns 480 shares of the energy company’s stock valued at $35,000 after purchasing an additional 161 shares during the period. Institutional investors and hedge funds 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.