Wells Fargo & Company Boosts Shell (NYSE:SHEL) Price Target to $91.00

Shell (NYSE:SHEL) had its target price raised by Wells Fargo & Company from $88.00 to $91.00 in a report published on Friday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the energy company’s stock.

Several other equities research analysts have also recently commented on SHEL. TheStreet raised Shell from a c rating to a b- rating in a research report on Monday, January 29th. TD Securities increased their price objective on Shell from $74.00 to $81.00 and gave the company a buy rating in a research report on Friday. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $66.50.

Shell Trading Up 0.6 %

Shell stock opened at $72.80 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.42 and a quick ratio of 1.14. Shell has a one year low of $55.78 and a one year high of $73.94. The stock has a market capitalization of $234.23 billion, a PE ratio of 13.43, a price-to-earnings-growth ratio of 1.70 and a beta of 0.59. The business’s fifty day moving average is $68.62 and its 200 day moving average is $66.05.

Shell Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Friday, May 17th will be given a $0.688 dividend. This represents a $2.75 annualized dividend and a yield of 3.78%. This is a boost from Shell’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Thursday, May 16th. Shell’s dividend payout ratio (DPR) is presently 50.74%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC lifted its position in shares of Shell by 29.1% during the 3rd quarter. FMR LLC now owns 29,087,703 shares of the energy company’s stock valued at $1,872,666,000 after buying an additional 6,554,340 shares in the last quarter. Invesco Ltd. lifted its position in shares of Shell by 162.9% during the 3rd quarter. Invesco Ltd. now owns 1,763,562 shares of the energy company’s stock valued at $113,538,000 after buying an additional 1,092,670 shares in the last quarter. Mawer Investment Management Ltd. lifted its position in shares of Shell by 19.9% during the 4th quarter. Mawer Investment Management Ltd. now owns 5,325,276 shares of the energy company’s stock valued at $350,403,000 after buying an additional 885,069 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Shell by 10.7% during the 3rd quarter. Wellington Management Group LLP now owns 8,742,878 shares of the energy company’s stock valued at $562,866,000 after buying an additional 848,104 shares in the last quarter. Finally, L1 Capital Pty Ltd lifted its position in shares of Shell by 188.7% during the 3rd quarter. L1 Capital Pty Ltd now owns 1,224,617 shares of the energy company’s stock valued at $78,841,000 after buying an additional 800,365 shares in the last quarter. 28.60% of the stock is owned by hedge funds and other 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.