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

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

A number of other equities research analysts have also weighed in on the company. Piper Sandler dropped their price target on Shell from $82.00 to $72.00 and set an "overweight" rating on the stock in a research note on Thursday, December 19th. Wolfe Research raised shares of Shell from a "peer perform" rating to an "outperform" rating and set a $80.00 price target for the company in a report on Friday, January 3rd. Royal Bank of Canada reissued an "outperform" rating on shares of Shell in a research report on Wednesday, March 26th. UBS Group raised Shell from a "neutral" rating to a "buy" rating in a report on Wednesday, January 8th. Finally, TD Securities reaffirmed a "buy" rating on shares of Shell in a report on Friday, April 4th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $77.73.

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Shell Stock Up 3.8 %

Shares of Shell stock traded up $2.27 during trading on Tuesday, hitting $62.05. 8,668,886 shares of the stock traded hands, compared to its average volume of 4,316,682. Shell has a 52-week low of $58.55 and a 52-week high of $74.61. The stock's fifty day simple moving average is $67.56 and its 200 day simple moving average is $66.20. The firm 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 company has a current ratio of 1.35, a quick ratio of 1.10 and a debt-to-equity ratio of 0.36.

Shell (NYSE:SHEL - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The energy company reported $1.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.74 by ($0.54). Shell had a net margin of 5.57% and a return on equity of 12.75%. On average, equities analysts predict that Shell will post 7.67 earnings per share for the current fiscal year.

Shell Increases Dividend

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

Hedge Funds Weigh In On Shell

A number of large investors have recently bought and sold shares of SHEL. Valley National Advisers Inc. raised its holdings in Shell by 930.2% during the fourth quarter. Valley National Advisers Inc. now owns 443 shares of the energy company's stock worth $27,000 after purchasing an additional 400 shares during the last quarter. CoreFirst Bank & Trust acquired a new stake in Shell in the 4th quarter valued at about $28,000. Human Investing LLC acquired a new position in Shell during the fourth quarter worth about $31,000. Transce3nd LLC purchased a new stake in shares of Shell in the fourth quarter valued at about $34,000. Finally, Millstone Evans Group LLC purchased a new position in shares of Shell during the 4th quarter worth approximately $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.