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

Shell (NYSE:SHEL - Get Free Report) had its price objective lowered by investment analysts at Scotiabank from $75.00 to $70.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a "sector outperform" rating on the energy company's stock. Scotiabank's target price suggests a potential upside of 11.45% from the stock's previous close.

Several other equities research analysts also recently issued reports on SHEL. Piper Sandler dropped their price target on shares of Shell from $82.00 to $72.00 and set an "overweight" rating on the stock in a research note on Thursday, December 19th. UBS Group upgraded Shell from a "neutral" rating to a "buy" rating in a research note on Wednesday, January 8th. TD Securities restated a "buy" rating on shares of Shell in a research note on Friday, April 4th. Wells Fargo & Company cut their target price on Shell from $87.00 to $83.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Wolfe Research upgraded shares of Shell from a "peer perform" rating to an "outperform" rating and set a $80.00 price target for the company in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Shell currently has a consensus rating of "Buy" and an average target price of $77.73.

Shell Stock Up 0.4 %

NYSE SHEL traded up $0.27 during trading hours on Friday, hitting $62.81. The company had a trading volume of 4,072,342 shares, compared to its average volume of 4,293,853. The firm's 50 day moving average is $67.41 and its 200 day moving average is $66.15. 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 fifty-two week low of $58.55 and a fifty-two week high of $74.61. The company has a market capitalization of $189.91 billion, a price-to-earnings ratio of 12.51, a P/E/G ratio of 0.98 and a beta of 0.27.

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 net margin of 5.57% and a return on equity of 12.75%. Sell-side analysts anticipate that Shell will post 7.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Shell

Institutional investors have recently modified their holdings of the business. Coldstream Capital Management Inc. raised its position in shares of Shell by 11.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 12,183 shares of the energy company's stock worth $803,000 after purchasing an additional 1,240 shares during the period. Virtu Financial LLC acquired a new stake in Shell in the third quarter worth $5,154,000. Sanctuary Advisors LLC lifted its stake in Shell by 5.9% in the third quarter. Sanctuary Advisors LLC now owns 151,868 shares of the energy company's stock valued at $10,028,000 after buying an additional 8,499 shares during the last quarter. World Investment Advisors LLC grew its position in shares of Shell by 37.0% during the third quarter. World Investment Advisors LLC now owns 5,594 shares of the energy company's stock worth $369,000 after acquiring an additional 1,512 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Shell in the 3rd quarter worth about $2,552,000. 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.