Shell (NYSE:SHEL) Reaches New 1-Year Low After Analyst Downgrade

Shell plc (NYSE:SHEL - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Friday after Piper Sandler lowered their price target on the stock from $82.00 to $72.00. Piper Sandler currently has an overweight rating on the stock. Shell traded as low as $60.15 and last traded at $60.42, with a volume of 517045 shares. The stock had previously closed at $60.78.

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

Hedge Funds Weigh In On Shell

Several hedge funds have recently added to or reduced their stakes in SHEL. FMR LLC lifted its position in Shell by 5.2% during the 3rd quarter. FMR LLC now owns 65,298,943 shares of the energy company's stock valued at $4,306,465,000 after purchasing an additional 3,255,347 shares during the period. Empyrean Capital Partners LP acquired a new position in Shell in the second quarter valued at approximately $151,578,000. Jennison Associates LLC boosted its stake in Shell by 188.0% in the third quarter. Jennison Associates LLC now owns 3,014,199 shares of the energy company's stock valued at $198,786,000 after acquiring an additional 1,967,672 shares during the last quarter. Holocene Advisors LP raised its position in shares of Shell by 29.8% during the 3rd quarter. Holocene Advisors LP now owns 3,773,617 shares of the energy company's stock valued at $248,870,000 after acquiring an additional 866,954 shares during the last quarter. Finally, Mediolanum International Funds Ltd acquired a new position in shares of Shell in the 3rd quarter valued at $37,274,000. Institutional investors own 28.60% of the company's stock.

Shell Price Performance

The company has a 50-day moving average price of $65.47 and a 200-day moving average price of $68.76. The firm has a market capitalization of $186.60 billion, a P/E ratio of 12.48, a price-to-earnings-growth 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, November 15th were paid a $0.688 dividend. The ex-dividend date was Friday, November 15th. This represents a $2.75 dividend on an annualized basis and a dividend yield of 4.54%. Shell's dividend payout ratio (DPR) is presently 56.58%.

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.