Wall Street Zen Upgrades Shell (NYSE:SHEL) to Strong-Buy

Key Points

• Wall Street Zen upgraded Shell to “strong-buy” from “buy,” though the broader analyst consensus remains “Hold,” with five Buy ratings and 14 Holds and an average price target of $102.17.
• Shell’s latest quarterly results exceeded expectations, reporting $3.52 in EPS versus the $3.23 consensus and revenue of $94.66 billion versus $86.22 billion expected.
• Shell shares opened at $88.44, with a market capitalization of approximately $247.94 billion; institutional and hedge-fund investors own 28.6% of the company.

Shell (NYSE:SHEL - Get Free Report) was upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report issued on Saturday.

SHEL has been the subject of several other research reports. Wells Fargo & Company raised their target price on shares of Shell from $100.00 to $105.00 and gave the stock an "equal weight" rating in a report on Friday, July 31st. Mizuho started coverage on shares of Shell in a report on Monday, July 20th. They set a "neutral" rating and a $98.00 price target on the stock. TD Cowen reissued a "buy" rating on shares of Shell in a research note on Thursday, July 2nd. Scotiabank boosted their target price on Shell from $91.00 to $122.00 and gave the company a "sector outperform" rating in a research report on Wednesday, April 22nd. Finally, Piper Sandler increased their price target on Shell from $88.00 to $89.00 and gave the stock a "neutral" rating in a report on Monday. Five analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Shell has a consensus rating of "Hold" and a consensus price target of $102.17.

Shell Stock Performance

NYSE SHEL opened at $88.44 on Friday. The business's 50 day moving average price is $84.02 and its 200-day moving average price is $84.63. Shell has a fifty-two week low of $68.63 and a fifty-two week high of $94.90. The company has a market cap of $247.94 billion, a P/E ratio of 9.76, a P/E/G ratio of 0.59 and a beta of 0.05. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.12 and a current ratio of 1.43.

Shell (NYSE:SHEL - Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The energy company reported $3.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.23 by $0.29. Shell had a return on equity of 14.34% and a net margin of 8.55%.The company had revenue of $94.66 billion during the quarter, compared to the consensus estimate of $86.22 billion. Sell-side analysts predict that Shell will post 10.31 earnings per share for the current year.

Institutional Investors Weigh In On Shell

Several large investors have recently added to or reduced their stakes in SHEL. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Shell during the fourth quarter worth approximately $26,000. Zions Bancorporation National Association UT boosted its holdings in shares of Shell by 186.7% in the fourth quarter. Zions Bancorporation National Association UT now owns 473 shares of the energy company's stock valued at $35,000 after purchasing an additional 308 shares during the period. Nalls Sherbakoff Group LLC bought a new position in Shell in the fourth quarter worth approximately $36,000. Ares Financial Consulting LLC purchased a new position in Shell during the 4th quarter worth $38,000. Finally, Allied Private Wealth LLC bought a new stake in Shell during the 2nd quarter valued at $43,000. 28.60% of the stock is owned by hedge funds and other institutional investors.

Shell Company Profile

Shell plc NYSE: SHEL is a global integrated energy company that operates across the full oil and gas value chain as well as in developing lower-carbon energy solutions. The company traces its roots to the early 20th century merger of Royal Dutch Petroleum and Shell Transport and Trading, and today it is organized to explore for and produce hydrocarbons, process and refine them, manufacture petrochemicals, and market fuel, lubricants and related products under the Shell brand around the world.

Shell's principal activities include upstream exploration and production of oil and natural gas, integrated gas operations including liquefied natural gas (LNG), and downstream refining, supply and marketing.

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