Scotiabank Lowers Shell (NYSE:SHEL) Price Target to $70.00

Shell (NYSE:SHEL - Get Free Report) had its target price cut by research analysts at Scotiabank from $75.00 to $70.00 in a report released on Friday,Benzinga reports. The firm currently has a "sector outperform" rating on the energy company's stock. Scotiabank's price target would indicate a potential upside of 12.82% from the stock's current price.

Several other equities research analysts have also recently weighed in on SHEL. Barclays reaffirmed an "overweight" rating on shares of Shell in a research report on Wednesday, March 26th. Wells Fargo & Company dropped their target price on Shell from $87.00 to $83.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. TD Securities reissued a "buy" rating on shares of Shell in a research note on Friday, April 4th. TD Cowen lowered their price target on shares of Shell from $82.00 to $76.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Finally, UBS Group raised Shell from a "neutral" rating to a "buy" rating in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Shell has a consensus rating of "Buy" and a consensus target price of $77.73.

Shell Stock Performance

Shares of Shell stock traded up $2.27 during trading on Friday, hitting $62.05. 8,668,886 shares of the stock were exchanged, compared to its average volume of 4,316,682. Shell has a 1-year low of $58.55 and a 1-year high of $74.61. The stock has a market capitalization of $187.61 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 0.98 and a beta of 0.27. The company has a fifty day moving average price of $67.56 and a 200-day moving average price of $66.20. The company has a current ratio of 1.35, a quick ratio of 1.10 and a debt-to-equity ratio of 0.36.

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Shell (NYSE:SHEL - Get Free Report) last announced its earnings results on Thursday, January 30th. The energy company reported $1.20 EPS for the quarter, missing the consensus estimate 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 predict that Shell will post 7.67 EPS for the current fiscal year.

Institutional Trading of Shell

Several institutional investors and hedge funds have recently made changes to their positions in the company. CoreFirst Bank & Trust purchased a new stake in shares of Shell during the fourth quarter valued at approximately $28,000. Valley National Advisers Inc. grew its stake in Shell by 930.2% in 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 in the last quarter. Human Investing LLC bought a new stake in shares of Shell during the 4th quarter valued at $31,000. Transce3nd LLC purchased a new stake in shares of Shell in the fourth quarter worth about $34,000. Finally, Millstone Evans Group LLC purchased a new position in shares of Shell during the 4th quarter valued at $36,000. Hedge funds and other institutional investors 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.