Wells Fargo & Company Lowers Shell (NYSE:SHEL) Price Target to $86.00

Shell (NYSE:SHEL) had its price objective decreased by equities researchers at Wells Fargo & Company from $87.00 to $86.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the energy company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 30.80% from the company’s previous close.

Several other equities research analysts also recently weighed in on the stock. UBS Group raised shares of Shell from a “neutral” rating to a “buy” rating in a research note on Wednesday. Piper Sandler lowered their target price on shares of Shell from $82.00 to $72.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Wolfe Research raised shares of Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a research report on Friday, January 3rd. Morgan Stanley raised Shell from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $66.50 to $79.80 in a research note on Tuesday. Finally, Barclays upgraded Shell to a “strong-buy” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Shell currently has a consensus rating of “Buy” and an average price target of $79.69.

Shell Stock Performance

Shell stock opened at $65.75 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.40 and a debt-to-equity ratio of 0.34. Shell has a twelve month low of $60.15 and a twelve month high of $74.61. The company’s 50-day moving average price is $64.43 and its 200-day moving average price is $68.10. The company has a market cap of $202.33 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 4.84 and a beta of 0.55.

Institutional Trading of Shell

A number of hedge funds have recently added to or reduced their stakes in SHEL. Fortitude Family Office LLC purchased a new stake in Shell in the 3rd quarter valued at approximately $30,000. Fairscale Capital LLC purchased a new stake in shares of Shell in the second quarter valued at approximately $33,000. Valley Wealth Managers Inc. purchased a new stake in shares of Shell during the 3rd quarter worth $33,000. Brooklyn Investment Group purchased a new position in Shell in the 3rd quarter valued at approximately $35,000. Finally, GHP Investment Advisors Inc. increased its position in Shell by 40.8% during the third quarter. GHP Investment Advisors Inc. now owns 563 shares of the energy company’s stock worth $37,000 after buying an additional 163 shares in the last quarter. 28.60% of the stock is 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.