Shell (NYSE:SHEL) Earns Equal Weight Rating from Analysts at Wells Fargo & Company

Key Points

• Wells Fargo & Company has initiated coverage on Shell (NYSE:SHEL) with an equal weight rating and a price target of $76.00, signaling a potential upside of 6.4% from its current stock price.
• Other analysts have shown varied sentiments, with TD Cowen increasing its price target to $80.00 while BNP Paribas upgraded the stock to a strong-buy rating.
• Shell's recent quarterly earnings report showed an EPS of $1.42, exceeding analyst expectations, although its revenue fell short of predictions at $66.44 billion.

Equities research analysts at Wells Fargo & Company assumed coverage on shares of Shell (NYSE:SHEL - Get Free Report) in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage set an "equal weight" rating and a $76.00 price target on the energy company's stock. Wells Fargo & Company's price target suggests a potential upside of 6.40% from the stock's current price.

Several other research firms have also commented on SHEL. TD Cowen lifted their price target on Shell from $78.00 to $80.00 and gave the stock a "buy" rating in a research report on Thursday, October 9th. BNP Paribas raised Shell to a "strong-buy" rating in a report on Tuesday, September 23rd. Melius began coverage on Shell in a research report on Wednesday, August 20th. They issued a "hold" rating and a $70.00 target price for the company. HSBC reiterated a "hold" rating and issued a $78.30 price objective (down from $78.90) on shares of Shell in a research note on Monday, August 4th. Finally, Wolfe Research downgraded Shell from an "outperform" rating to a "peer perform" rating in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Shell has a consensus rating of "Moderate Buy" and an average price target of $79.41.

Shell Trading Down 0.6%

Shares of NYSE:SHEL opened at $71.43 on Friday. Shell has a 12-month low of $58.54 and a 12-month high of $75.08. The company has a market capitalization of $208.77 billion, a PE ratio of 16.09, a PEG ratio of 1.77 and a beta of 0.39. The business has a 50 day moving average of $72.44 and a two-hundred day moving average of $69.71. The company has a current ratio of 1.32, a quick ratio of 1.07 and a debt-to-equity ratio of 0.36.

Shell (NYSE:SHEL - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The energy company reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.13 by $0.29. Shell had a return on equity of 10.67% and a net margin of 4.93%.The company had revenue of $66.44 billion during the quarter, compared to the consensus estimate of $69.31 billion. As a group, analysts forecast that Shell will post 7.67 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Brighton Jones LLC lifted its stake in Shell by 51.7% in the 4th quarter. Brighton Jones LLC now owns 7,463 shares of the energy company's stock worth $468,000 after purchasing an additional 2,545 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Shell by 26.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 252,397 shares of the energy company's stock valued at $18,496,000 after purchasing an additional 52,541 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Shell by 4.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 19,323 shares of the energy company's stock worth $1,401,000 after acquiring an additional 815 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Shell by 2.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 908,572 shares of the energy company's stock worth $66,580,000 after acquiring an additional 23,680 shares during the last quarter. Finally, Kingsview Wealth Management LLC boosted its stake in shares of Shell by 30.6% during the 1st quarter. Kingsview Wealth Management LLC now owns 21,327 shares of the energy company's stock valued at $1,563,000 after purchasing an additional 5,002 shares in the last quarter. 28.60% of the stock is owned by institutional investors.

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.

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