Piper Sandler Has Lowered Expectations for Shell (NYSE:SHEL) Stock Price

Shell (NYSE:SHEL) had its target price decreased by analysts at Piper Sandler from $82.00 to $72.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the energy company’s stock. Piper Sandler’s price target suggests a potential upside of 18.73% from the stock’s previous close.

SHEL has been the topic of several other reports. Barclays upgraded shares of Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Sanford C. Bernstein raised Shell to a “strong-buy” rating in a research report on Friday, October 11th. Citigroup upgraded Shell to a “hold” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company cut their target price on shares of Shell from $88.00 to $87.00 and set an “overweight” rating for the company in a research note on Monday, December 9th. Finally, Scotiabank decreased their price target on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $79.80.

Shell Price Performance

Shell stock opened at $60.64 on Thursday. The firm has a market capitalization of $186.60 billion, a PE ratio of 12.48, a P/E/G ratio of 4.84 and a beta of 0.55. Shell has a 52 week low of $60.15 and a 52 week high of $74.61. The firm’s 50-day simple moving average is $65.47 and its 200 day simple moving average is $68.76. 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

A number of hedge funds have recently made changes to their positions in the stock. FMR LLC lifted its stake in shares of Shell by 5.2% in the 3rd quarter. FMR LLC now owns 65,298,943 shares of the energy company’s stock valued at $4,306,465,000 after purchasing an additional 3,255,347 shares in the last quarter. Fisher Asset Management LLC grew its stake in Shell by 2.1% during the third quarter. Fisher Asset Management LLC now owns 24,530,647 shares of the energy company’s stock worth $1,617,796,000 after buying an additional 507,311 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Shell by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 22,722,317 shares of the energy company’s stock worth $1,640,082,000 after acquiring an additional 96,549 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Shell by 0.9% in the 3rd quarter. Franklin Resources Inc. now owns 5,972,945 shares of the energy company’s stock valued at $408,430,000 after acquiring an additional 55,637 shares during the period. Finally, Mawer Investment Management Ltd. boosted its position in Shell by 8.7% during the 3rd quarter. Mawer Investment Management Ltd. now owns 5,282,868 shares of the energy company’s stock worth $348,405,000 after purchasing an additional 422,329 shares during the period. Institutional investors and hedge funds own 28.60% of the company’s stock.

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.