Shell (NYSE:SHEL) Sets New 52-Week High on Analyst Upgrade

Shell PLC Unsponsored ADR (NYSE:SHEL) shares reached a new 52-week high during mid-day trading on Monday after Piper Sandler raised their price target on the stock from $87.00 to $90.00. Piper Sandler currently has an overweight rating on the stock. Shell traded as high as $76.67 and last traded at $76.6320, with a volume of 2704948 shares. The stock had previously closed at $75.59.

Several other equities research analysts also recently weighed in on SHEL. Scotiabank reissued an “outperform” rating on shares of Shell in a research report on Thursday, October 9th. Wall Street Zen raised Shell from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings upgraded shares of Shell from a “hold (c+)” rating to a “buy (b)” rating in a research report on Friday. HSBC restated a “hold” rating and set a $78.30 price objective (down previously from $78.90) on shares of Shell in a research report on Monday, August 4th. Finally, Melius started coverage on shares of Shell in a report on Wednesday, August 20th. They set a “hold” rating and a $70.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.91.

Hedge Funds Weigh In On Shell

Several hedge funds have recently bought and sold shares of SHEL. Dimensional Fund Advisors LP raised its holdings in Shell by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 23,272,913 shares of the energy company’s stock worth $1,705,430,000 after acquiring an additional 451,233 shares during the period. Price T Rowe Associates Inc. MD increased its position in Shell by 5.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,253,238 shares of the energy company’s stock worth $531,519,000 after buying an additional 352,569 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Shell by 21.2% during the first quarter. Goldman Sachs Group Inc. now owns 6,571,809 shares of the energy company’s stock worth $481,582,000 after buying an additional 1,150,198 shares during the last quarter. Pzena Investment Management LLC grew its stake in shares of Shell by 0.4% in the first quarter. Pzena Investment Management LLC now owns 3,592,218 shares of the energy company’s stock worth $263,238,000 after acquiring an additional 15,043 shares during the last quarter. Finally, Northern Trust Corp increased its position in Shell by 5.1% during the first quarter. Northern Trust Corp now owns 3,260,245 shares of the energy company’s stock worth $238,911,000 after acquiring an additional 158,915 shares during the period. 28.60% of the stock is owned by institutional investors and hedge funds.

Shell Stock Up 1.3%

The firm’s 50-day simple moving average is $73.03 and its 200-day simple moving average is $70.96. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.07 and a current ratio of 1.32. The company has a market capitalization of $222.51 billion, a price-to-earnings ratio of 17.26, a price-to-earnings-growth ratio of 1.81 and a beta of 0.39.

Shell (NYSE:SHEL) last posted its quarterly earnings results on Thursday, October 30th. The energy company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.72 by $0.14. The firm had revenue of $68.15 billion during the quarter, compared to analysts’ expectations of $70.50 billion. Shell had a return on equity of 10.67% and a net margin of 4.93%. Sell-side analysts forecast that Shell PLC Unsponsored ADR will post 7.67 earnings per share for the current year.

Shell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Friday, November 14th will be paid a $0.716 dividend. The ex-dividend date is Friday, November 14th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 3.7%. Shell’s dividend payout ratio is currently 58.61%.

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.