Shell (NYSE:SHEL) Price Target Lowered to $83.00 at Wells Fargo & Company

Shell (NYSE:SHEL - Free Report) had its price target reduced by Wells Fargo & Company from $87.00 to $83.00 in a research report released on Tuesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the energy company's stock.

A number of other analysts have also recently issued reports on the company. UBS Group raised Shell from a "neutral" rating to a "buy" rating in a research report on Wednesday, January 8th. TD Cowen reduced their price objective on shares of Shell from $82.00 to $76.00 and set a "buy" rating for the company in a research report on Tuesday. TD Securities reissued a "buy" rating on shares of Shell in a research report on Friday, April 4th. Wolfe Research raised shares of Shell from a "peer perform" rating to an "outperform" rating and set a $80.00 target price for the company in a report on Friday, January 3rd. Finally, Piper Sandler lowered their target price on Shell from $82.00 to $72.00 and set an "overweight" rating on the stock in a research note on Thursday, December 19th. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $77.73.

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Shell Stock Up 3.8 %

NYSE:SHEL traded up $2.27 on Tuesday, hitting $62.05. 8,668,886 shares of the company's stock were exchanged, compared to its average volume of 4,316,682. The company has a market cap of $187.61 billion, a P/E ratio of 12.36, a price-to-earnings-growth ratio of 0.98 and a beta of 0.27. The firm has a 50-day moving average price of $67.56 and a 200-day moving average price of $66.20. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.35 and a quick ratio of 1.10. Shell has a 52 week low of $58.55 and a 52 week high of $74.61.

Shell (NYSE:SHEL - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The energy company reported $1.20 earnings per share 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, analysts expect that Shell will post 7.67 EPS for the current fiscal year.

Shell Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, February 14th were given a dividend of $0.716 per share. This is a positive change from Shell's previous quarterly dividend of $0.69. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.86 annualized dividend and a dividend yield of 4.62%. Shell's dividend payout ratio (DPR) is currently 56.97%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC boosted its holdings in shares of Shell by 32.3% during the 4th quarter. FMR LLC now owns 86,417,177 shares of the energy company's stock valued at $5,414,036,000 after acquiring an additional 21,118,234 shares in the last quarter. Voloridge Investment Management LLC raised its position in Shell by 170.3% in the fourth quarter. Voloridge Investment Management LLC now owns 3,463,372 shares of the energy company's stock valued at $216,980,000 after purchasing an additional 2,182,253 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Shell during the fourth quarter worth about $91,716,000. Freestone Grove Partners LP acquired a new position in shares of Shell in the fourth quarter valued at approximately $83,204,000. Finally, Merewether Investment Management LP boosted its position in Shell by 46.5% during the 4th quarter. Merewether Investment Management LP now owns 2,262,997 shares of the energy company's stock worth $141,777,000 after buying an additional 718,233 shares during the period. 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.