Shell (NYSE:SHEL) Given New $72.00 Price Target at Piper Sandler

Shell (NYSE:SHEL - Free Report) had its target price trimmed by Piper Sandler from $82.00 to $72.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the energy company's stock.

A number of other research firms also recently weighed in on SHEL. Scotiabank reduced their price target on shares of Shell from $90.00 to $80.00 and set a "sector outperform" rating on the stock in a research note on Thursday, October 10th. Wells Fargo & Company decreased their target price on shares of Shell from $88.00 to $87.00 and set an "overweight" rating on the stock in a research note on Monday, December 9th. Citigroup raised Shell to a "hold" rating in a report on Wednesday, October 2nd. Sanford C. Bernstein raised Shell to a "strong-buy" rating in a report on Friday, October 11th. Finally, Barclays upgraded Shell to a "strong-buy" rating in a report on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $79.80.

Shell Price Performance

Shares of Shell stock traded up $0.15 during trading on Thursday, reaching $60.78. 5,766,170 shares of the company's stock were exchanged, compared to its average volume of 4,219,255. The firm's 50-day moving average price is $65.79 and its 200 day moving average price is $68.89. The company has a market cap of $187.03 billion, a P/E ratio of 12.51, a PEG ratio of 4.84 and a beta of 0.55. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.40. Shell has a 1-year low of $60.34 and a 1-year high of $74.61.

Shell Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.688 per share. The ex-dividend date is Friday, November 15th. This represents a $2.75 annualized dividend and a yield of 4.53%. Shell's payout ratio is 56.58%.

Institutional Trading of Shell

A number of large investors have recently bought and sold shares of SHEL. Fortitude Family Office LLC acquired a new stake in Shell during the third quarter worth approximately $30,000. Fairscale Capital LLC bought a new stake in shares of Shell in the 2nd quarter valued at $33,000. Valley Wealth Managers Inc. bought a new position in Shell during the third quarter worth $33,000. Brooklyn Investment Group acquired a new stake in Shell in the third quarter worth $35,000. Finally, GHP Investment Advisors Inc. raised its holdings in shares of Shell by 40.8% during the third quarter. GHP Investment Advisors Inc. now owns 563 shares of the energy company's stock valued at $37,000 after purchasing an additional 163 shares during the period. 28.60% of the stock is currently owned by institutional investors and hedge funds.

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.