Shell (NYSE:SHEL) Now Covered by Piper Sandler

Piper Sandler initiated coverage on shares of Shell (NYSE:SHEL) in a report released on Thursday morning, Marketbeat reports. The brokerage issued a neutral rating and a $88.00 price target on the energy company’s stock.

A number of other equities research analysts have also issued reports on SHEL. Erste Group Bank restated a “hold” rating on shares of Shell in a report on Tuesday, May 5th. Zacks Research lowered Shell from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Wall Street Zen lowered Shell from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. HSBC raised Shell from a “hold” rating to a “buy” rating in a research note on Monday, May 18th. Finally, Scotiabank raised their price target on shares of Shell from $91.00 to $122.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 22nd. Five analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $98.19.

Shell Price Performance

Shares of NYSE:SHEL opened at $88.04 on Thursday. The stock has a fifty day moving average of $83.33 and a 200-day moving average of $83.45. The company has a market capitalization of $246.81 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 0.61 and a beta of 0.06. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.97 and a current ratio of 1.27. Shell has a one year low of $68.63 and a one year high of $94.90.

Shell (NYSE:SHEL) last announced its earnings results on Friday, May 8th. The energy company reported $2.44 EPS for the quarter, beating the consensus estimate of $2.14 by $0.30. The business had revenue of $69.69 billion during the quarter, compared to the consensus estimate of $77.54 billion. Shell had a return on equity of 11.18% and a net margin of 6.85%. As a group, equities analysts anticipate that Shell will post 9.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Shell

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Financial Management Professionals Inc. grew its holdings in Shell by 2.9% during the second quarter. Financial Management Professionals Inc. now owns 4,800 shares of the energy company’s stock valued at $372,000 after purchasing an additional 137 shares during the last quarter. Allied Private Wealth LLC bought a new position in Shell in the 2nd quarter worth $43,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Shell by 729.3% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,899 shares of the energy company’s stock valued at $147,000 after acquiring an additional 1,670 shares during the period. Red Spruce Capital LLC increased its stake in shares of Shell by 1.2% in the second quarter. Red Spruce Capital LLC now owns 21,069 shares of the energy company’s stock worth $1,634,000 after purchasing an additional 254 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Shell by 10.3% during the 2nd quarter. GAMMA Investing LLC now owns 14,412 shares of the energy company’s stock valued at $1,118,000 after purchasing an additional 1,350 shares during the period. 28.60% of the stock is currently owned by institutional investors and hedge funds.

Shell Company Profile

Shell plc (NYSE: SHEL) is a global integrated energy company that operates across the full oil and gas value chain as well as in developing lower-carbon energy solutions. The company traces its roots to the early 20th century merger of Royal Dutch Petroleum and Shell Transport and Trading, and today it is organized to explore for and produce hydrocarbons, process and refine them, manufacture petrochemicals, and market fuel, lubricants and related products under the Shell brand around the world.

Shell’s principal activities include upstream exploration and production of oil and natural gas, integrated gas operations including liquefied natural gas (LNG), and downstream refining, supply and marketing.