Shell (NYSE:SHEL) Raised to “Outperform” at Wolfe Research

Shell (NYSE:SHEL) was upgraded by research analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a report released on Friday, MarketBeat Ratings reports. The brokerage presently has a $80.00 target price on the energy company’s stock. Wolfe Research’s price objective suggests a potential upside of 23.99% from the company’s current price.

A number of other equities analysts have also recently weighed in on the company. Piper Sandler decreased their price target on Shell from $82.00 to $72.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Sanford C. Bernstein upgraded Shell to a “strong-buy” rating in a research note on Friday, October 11th. Wells Fargo & Company reduced their price target on Shell from $88.00 to $87.00 and set an “overweight” rating for the company in a report on Monday, December 9th. Barclays raised Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, Scotiabank dropped their price target on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Shell has a consensus rating of “Buy” and an average target price of $79.83.

Shell Trading Up 2.3 %

Shares of SHEL stock opened at $64.52 on Friday. Shell has a fifty-two week low of $60.15 and a fifty-two week high of $74.61. The firm’s 50 day moving average price is $64.52 and its two-hundred day moving average price is $68.23. The stock has a market cap of $198.54 billion, a price-to-earnings ratio of 13.28, a price-to-earnings-growth ratio of 4.84 and a beta of 0.55. The company has a quick ratio of 1.13, a current ratio of 1.40 and a debt-to-equity ratio of 0.34.

Hedge Funds Weigh In On Shell

Institutional investors have recently made changes to their positions in the business. FMR LLC increased its stake in Shell by 5.2% during the third quarter. FMR LLC now owns 65,298,943 shares of the energy company’s stock valued at $4,306,465,000 after acquiring an additional 3,255,347 shares during the period. Empyrean Capital Partners LP acquired a new position in shares of Shell in the second quarter valued at $151,578,000. Jennison Associates LLC lifted its position in Shell by 188.0% in the third quarter. Jennison Associates LLC now owns 3,014,199 shares of the energy company’s stock worth $198,786,000 after purchasing an additional 1,967,672 shares during the period. Holocene Advisors LP increased its holdings in Shell by 29.8% in the 3rd quarter. Holocene Advisors LP now owns 3,773,617 shares of the energy company’s stock valued at $248,870,000 after buying an additional 866,954 shares during the period. Finally, Mediolanum International Funds Ltd bought a new position in shares of Shell during the 3rd quarter worth about $37,274,000. 28.60% of the stock is currently owned by 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.