Wells Fargo & Company Issues Positive Forecast for Shell (NYSE:SHEL) Stock Price

Shell (NYSE:SHEL) had its price objective raised by equities research analysts at Wells Fargo & Company from $81.00 to $87.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the energy company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 20.77% from the company’s previous close.

A number of other equities analysts have also recently issued reports on SHEL. Morgan Stanley upgraded shares of Shell from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $66.50 to $79.80 in a research report on Tuesday, January 7th. UBS Group raised Shell from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 8th. Piper Sandler dropped their price target on Shell from $82.00 to $72.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. TD Cowen assumed coverage on Shell in a research report on Wednesday, March 19th. They issued a “buy” rating and a $81.00 price objective on the stock. Finally, TD Securities lifted their price objective on Shell from $81.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, March 19th. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Shell has a consensus rating of “Buy” and a consensus target price of $80.10.

Shell Price Performance

Shares of NYSE:SHEL opened at $72.04 on Wednesday. The firm has a market capitalization of $217.83 billion, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.35 and a quick ratio of 1.10. The business’s 50 day simple moving average is $67.29 and its 200-day simple moving average is $66.28. Shell has a 12 month low of $60.15 and a 12 month high of $74.61.

Shell (NYSE:SHEL) last posted its earnings results on Thursday, January 30th. The energy company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.54). Shell had a return on equity of 12.75% and a net margin of 5.57%. As a group, equities analysts forecast that Shell will post 7.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Shell

A number of institutional investors have recently bought and sold shares of SHEL. Valley National Advisers Inc. grew its stake in shares of Shell by 930.2% during the 4th quarter. Valley National Advisers Inc. now owns 443 shares of the energy company’s stock valued at $27,000 after buying an additional 400 shares during the period. CoreFirst Bank & Trust acquired a new position in Shell in the fourth quarter valued at $28,000. Human Investing LLC acquired a new stake in Shell during the fourth quarter worth about $31,000. Transce3nd LLC purchased a new position in shares of Shell in the 4th quarter worth about $34,000. Finally, Brooklyn Investment Group purchased a new stake in shares of Shell during the 3rd quarter worth about $35,000. 28.60% of the stock is currently owned by hedge funds and other institutional investors.

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.