Shell (NYSE:SHEL) Price Target Cut to $80.00 by Analysts at Scotiabank

Shell (NYSE:SHEL) had its price target cut by Scotiabank from $90.00 to $80.00 in a report issued on Thursday, Benzinga reports. They currently have a sector outperform rating on the energy company’s stock.

A number of other equities analysts have also weighed in on SHEL. Berenberg Bank raised shares of Shell to a strong-buy rating in a research note on Monday, August 5th. Wells Fargo & Company increased their price objective on shares of Shell from $84.00 to $88.00 and gave the stock an overweight rating in a research note on Tuesday. Barclays upgraded shares of Shell to a strong-buy rating in a research note on Wednesday, October 2nd. Citigroup upgraded shares of Shell to a hold rating in a research note on Wednesday, October 2nd. Finally, Wolfe Research initiated coverage on shares of Shell in a research note on Thursday, July 18th. They set a peer perform rating for the company. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $82.00.

Shell Price Performance

Shares of SHEL stock opened at $68.60 on Thursday. The firm has a market capitalization of $214.77 billion, a price-to-earnings ratio of 12.29, a price-to-earnings-growth ratio of 1.57 and a beta of 0.56. The company has a quick ratio of 1.12, a current ratio of 1.41 and a debt-to-equity ratio of 0.35. Shell has a 12-month low of $60.34 and a 12-month high of $74.61. The firm has a fifty day moving average of $69.64 and a 200-day moving average of $70.86.

Shell (NYSE:SHEL) last announced its earnings results on Thursday, August 1st. The energy company reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.15. The firm had revenue of $75.06 billion during the quarter, compared to analyst estimates of $88.62 billion. Shell had a net margin of 5.97% and a return on equity of 14.56%. During the same period in the prior year, the business earned $1.50 EPS. On average, equities research analysts forecast that Shell will post 8.44 earnings per share for the current year.

Shell Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, August 16th were given a dividend of $0.688 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.75 annualized dividend and a yield of 4.01%. Shell’s dividend payout ratio (DPR) is presently 49.11%.

Institutional Investors Weigh In On Shell

Several hedge funds have recently bought and sold shares of SHEL. Hobbs Group Advisors LLC acquired a new stake in shares of Shell in the second quarter valued at approximately $26,000. Beaird Harris Wealth Management LLC raised its position in shares of Shell by 611.1% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 448 shares of the energy company’s stock valued at $29,000 after buying an additional 385 shares in the last quarter. Triad Wealth Partners LLC acquired a new stake in shares of Shell in the second quarter valued at approximately $31,000. Fairscale Capital LLC acquired a new stake in shares of Shell in the second quarter valued at approximately $33,000. Finally, Fairman Group LLC acquired a new stake in shares of Shell in the fourth quarter valued at approximately $45,000. 28.60% of the stock is currently owned by institutional investors and hedge funds.

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.