Bank of America Reaffirms Buy Rating for Shell (LON:SHEL)

Bank of America reiterated their buy rating on shares of Shell (LON:SHEL) in a research report sent to investors on Monday morning, MarketBeat.com reports. They currently have a GBX 3,300 ($40.76) price target on the stock.

Other analysts also recently issued research reports about the stock. Royal Bank of Canada reiterated an outperform rating and issued a GBX 3,000 ($37.06) target price on shares of Shell in a report on Monday, April 8th. JPMorgan Chase & Co. restated an overweight rating on shares of Shell in a report on Tuesday, February 20th. Berenberg Bank lowered their target price on Shell from GBX 3,000 ($37.06) to GBX 2,950 ($36.44) and set a buy rating for the company in a report on Friday, February 16th. Finally, Barclays restated an overweight rating and set a GBX 3,800 ($46.94) target price on shares of Shell in a report on Monday, April 8th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Shell currently has an average rating of Buy and a consensus target price of GBX 3,109.78 ($38.41).

Shell Price Performance

LON:SHEL opened at GBX 2,901 ($35.83) on Monday. The company has a quick ratio of 0.87, a current ratio of 1.40 and a debt-to-equity ratio of 43.34. The company has a market capitalization of £186.24 billion, a P/E ratio of 1,283.63, a P/E/G ratio of 3.14 and a beta of 0.57. The stock’s fifty day moving average is GBX 2,644.48 and its two-hundred day moving average is GBX 2,589.87. Shell has a 52 week low of GBX 2,214 ($27.35) and a 52 week high of GBX 2,952 ($36.46).

Shell Increases Dividend

The business also recently declared a dividend, which was paid on Monday, March 25th. Shareholders of record on Thursday, February 15th were issued a dividend of $0.34 per share. This is an increase from Shell’s previous dividend of $0.33. The ex-dividend date of this dividend was Thursday, February 15th. This represents a yield of 1.11%. Shell’s dividend payout ratio is 4,778.76%.

Insiders Place Their Bets

In related news, insider Charles Roxburgh purchased 3,000 shares of the business’s stock in a transaction on Friday, March 15th. The shares were bought at an average price of GBX 2,552 ($31.52) per share, for a total transaction of £76,560 ($94,565.22). In other Shell news, insider Charles Roxburgh acquired 3,000 shares of the stock in a transaction dated Friday, March 15th. The stock was acquired at an average cost of GBX 2,552 ($31.52) per share, with a total value of £76,560 ($94,565.22). Also, insider Sinead Gorman acquired 18,276 shares of the stock in a transaction dated Monday, February 26th. The shares were acquired at an average cost of GBX 2,494 ($30.81) per share, with a total value of £455,803.44 ($562,998.32). 0.13% of the stock is owned by company insiders.

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.