Shell (NYSE:SHEL) Given New $80.00 Price Target at Wells Fargo & Company

Shell (NYSE:SHEL - Get Free Report) had its price objective dropped by stock analysts at Wells Fargo & Company from $83.00 to $80.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the energy company's stock. Wells Fargo & Company's price objective would suggest a potential upside of 19.99% from the stock's current price.

Several other equities analysts have also issued reports on the stock. TD Securities restated a "buy" rating on shares of Shell in a report on Friday, April 4th. Morgan Stanley upgraded Shell from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $66.50 to $79.80 in a report on Tuesday, January 7th. Royal Bank of Canada reissued an "outperform" rating on shares of Shell in a research note on Wednesday, March 26th. UBS Group upgraded Shell from a "neutral" rating to a "buy" rating in a research note on Wednesday, January 8th. Finally, TD Cowen decreased their target price on shares of Shell from $82.00 to $76.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $77.35.

Shell Price Performance

SHEL stock opened at $66.67 on Monday. The company has a 50 day simple moving average of $66.91 and a 200 day simple moving average of $65.89. The stock has a market cap of $200.55 billion, a price-to-earnings ratio of 13.28, a P/E/G ratio of 0.98 and a beta of 0.38. 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 1 year low of $58.55 and a 1 year high of $74.61.

Shell (NYSE:SHEL - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The energy company reported $1.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.54 by $0.30. The business had revenue of $69.23 billion during the quarter, compared to analyst estimates of $79.18 billion. Shell had a net margin of 5.57% and a return on equity of 12.75%. During the same quarter last year, the business earned $2.40 EPS. Research analysts anticipate that Shell will post 7.67 EPS for the current fiscal year.

Shell announced that its board has initiated a stock repurchase plan on Friday, May 2nd that allows the company to repurchase $3.50 billion in outstanding shares. This repurchase authorization allows the energy company to buy up to 1.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. FMR LLC lifted its stake in Shell by 32.3% in the 4th quarter. FMR LLC now owns 86,417,177 shares of the energy company's stock worth $5,414,036,000 after purchasing an additional 21,118,234 shares in the last quarter. Fisher Asset Management LLC raised its position in Shell by 1.7% during the fourth quarter. Fisher Asset Management LLC now owns 24,938,735 shares of the energy company's stock valued at $1,562,412,000 after purchasing an additional 408,088 shares in the last quarter. Wellington Management Group LLP boosted its stake in Shell by 3.1% in the fourth quarter. Wellington Management Group LLP now owns 7,982,817 shares of the energy company's stock worth $500,123,000 after buying an additional 238,705 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Shell by 0.8% during the 4th quarter. Franklin Resources Inc. now owns 6,023,173 shares of the energy company's stock valued at $377,352,000 after purchasing an additional 50,228 shares during the last quarter. Finally, Pzena Investment Management LLC boosted its position in Shell by 0.4% during the first quarter. Pzena Investment Management LLC now owns 3,592,218 shares of the energy company's stock valued at $263,238,000 after buying an additional 15,043 shares during the period. 28.60% of the stock is currently owned by hedge funds and other institutional investors.

Shell Company Profile

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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