Wells Fargo & Company Issues Pessimistic Forecast for Shell (NYSE:SHEL) Stock Price

Shell (NYSE:SHEL) had its price objective reduced by equities research analysts at Wells Fargo & Company from $87.00 to $83.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the energy company’s stock. Wells Fargo & Company‘s price target points to a potential upside of 29.76% from the stock’s previous close.

Other analysts have also recently issued reports about the company. TD Cowen lowered their price objective on Shell from $82.00 to $76.00 and set a “buy” rating on the stock in a research report on Tuesday. UBS Group upgraded Shell from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 8th. Piper Sandler lowered their price objective on Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Wolfe Research upgraded Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a research report on Friday, January 3rd. Finally, Royal Bank of Canada restated an “outperform” rating on shares of Shell in a research report on Wednesday, March 26th. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Shell currently has an average rating of “Buy” and a consensus target price of $78.98.

Shell Stock Up 7.1 %

Shares of SHEL stock opened at $63.96 on Tuesday. Shell has a 12 month low of $58.55 and a 12 month high of $74.61. The firm has a market cap of $193.41 billion, a PE ratio of 12.74, a price-to-earnings-growth ratio of 0.98 and a beta of 0.27. The stock has a 50 day moving average of $67.77 and a 200-day moving average of $66.31. The company has a quick ratio of 1.10, a current ratio of 1.35 and a debt-to-equity ratio of 0.36.

Shell (NYSE:SHEL) last issued its quarterly earnings results on Thursday, January 30th. The energy company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.54). Shell had a return on equity of 12.75% and a net margin of 5.57%. On average, equities analysts predict that Shell will post 7.67 EPS for the current year.

Institutional Trading of Shell

Several large investors have recently made changes to their positions in the business. Planned Solutions Inc. bought a new stake in shares of Shell during the first quarter worth $242,000. RFG Advisory LLC bought a new stake in shares of Shell during the first quarter worth $368,000. InvesTrust grew its holdings in shares of Shell by 0.6% during the first quarter. InvesTrust now owns 80,134 shares of the energy company’s stock worth $5,872,000 after purchasing an additional 473 shares during the last quarter. Merit Financial Group LLC grew its holdings in shares of Shell by 100.9% during the first quarter. Merit Financial Group LLC now owns 11,534 shares of the energy company’s stock worth $845,000 after purchasing an additional 5,794 shares during the last quarter. Finally, Gradient Investments LLC lifted its stake in shares of Shell by 2.6% during the first quarter. Gradient Investments LLC now owns 9,610 shares of the energy company’s stock valued at $704,000 after acquiring an additional 245 shares during the period. Institutional investors own 28.60% of the company’s stock.

About Shell

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.