Shell (NYSE:SHEL – Free Report) had its price objective hoisted by Wells Fargo & Company from $84.00 to $88.00 in a research note published on Tuesday, Benzinga reports. The brokerage currently has an overweight rating on the energy company’s stock.
Several other analysts have also issued reports on SHEL. Scotiabank decreased their price target on shares of Shell from $95.00 to $90.00 and set a sector outperform rating on the stock in a research report on Friday, July 12th. Wolfe Research initiated coverage on Shell in a report on Thursday, July 18th. They issued a peer perform rating for the company. Royal Bank of Canada raised Shell to a moderate buy rating in a report on Tuesday, July 30th. Barclays upgraded Shell to a strong-buy rating in a research note on Wednesday, October 2nd. Finally, Citigroup upgraded shares of Shell to a hold rating in a research note on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Shell has a consensus rating of Moderate Buy and an average price target of $82.00.
View Our Latest Report on SHEL
Shell Stock Up 0.9 %
Shell (NYSE:SHEL – Get Free Report) last released its earnings results on Thursday, August 1st. The energy company reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.15. Shell had a return on equity of 14.56% and a net margin of 5.97%. The firm had revenue of $75.06 billion for the quarter, compared to analyst estimates of $88.62 billion. During the same quarter last year, the firm posted $1.50 EPS. As a group, equities research analysts anticipate that Shell will post 8.44 EPS for the current year.
Shell Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, August 16th were issued a dividend of $0.688 per share. This represents a $2.75 annualized dividend and a yield of 4.00%. The ex-dividend date was Friday, August 16th. Shell’s dividend payout ratio is currently 49.11%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. Empyrean Capital Partners LP acquired a new position in Shell in the second quarter worth $151,578,000. Mondrian Investment Partners LTD grew its holdings in Shell by 83.2% during the 1st quarter. Mondrian Investment Partners LTD now owns 2,187,872 shares of the energy company’s stock worth $146,675,000 after acquiring an additional 993,342 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Shell by 13.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,715,078 shares of the energy company’s stock valued at $450,180,000 after acquiring an additional 772,736 shares in the last quarter. Raymond James & Associates lifted its position in shares of Shell by 65.7% during the second quarter. Raymond James & Associates now owns 1,698,247 shares of the energy company’s stock worth $122,579,000 after purchasing an additional 673,624 shares in the last quarter. Finally, Senator Investment Group LP acquired a new stake in shares of Shell in the first quarter valued at approximately $42,775,000. 28.60% of the stock is owned by institutional investors and hedge funds.
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.
Recommended Stories
- Five stocks we like better than Shell
- What is the S&P/TSX Index?
- AbbVie Stock Eyes New Highs: Analysts See Strong Growth Potential
- What is a Low P/E Ratio and What Does it Tell Investors?
- AZZ Stock Gains Momentum: Analysts Forecast 25% Upside From Here
- How is Compound Interest Calculated?
- Volatility in Applied Digital May Create an Entry Opportunity
Receive News & Ratings for Shell Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shell and related companies with MarketBeat.com's FREE daily email newsletter.