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

Shell (NYSE:SHEL) had its price target reduced by Wells Fargo & Company from $87.00 to $86.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the energy company’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 30.80% from the company’s previous close.

A number of other equities analysts have also recently commented on the company. Citigroup raised Shell to a “hold” rating in a research note on Wednesday, October 2nd. Barclays raised shares of Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Sanford C. Bernstein raised shares of Shell to a “strong-buy” rating in a research note on Friday, October 11th. Scotiabank reduced their price target on Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Finally, Morgan Stanley upgraded Shell from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $66.50 to $79.80 in a research report on Tuesday. One analyst has rated the stock with a hold rating, eight have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Shell has a consensus rating of “Buy” and a consensus target price of $79.69.

Shell Trading Up 1.6 %

Shares of SHEL 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. The firm has a market cap of $202.33 billion, a P/E ratio of 13.53, a price-to-earnings-growth ratio of 4.84 and a beta of 0.55. The business has a 50-day moving average price of $64.43 and a two-hundred day moving average price of $68.10. Shell has a 12-month low of $60.15 and a 12-month high of $74.61.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. NorthCrest Asset Manangement LLC lifted its position in shares of Shell by 6.4% in the third quarter. NorthCrest Asset Manangement LLC now owns 3,741 shares of the energy company’s stock valued at $247,000 after acquiring an additional 225 shares in the last quarter. Foresight Global Investors Inc. purchased a new stake in Shell during the 2nd quarter valued at approximately $1,472,000. Rockefeller Capital Management L.P. raised its position in shares of Shell by 1.5% during the third quarter. Rockefeller Capital Management L.P. now owns 3,125,284 shares of the energy company’s stock valued at $206,116,000 after buying an additional 46,293 shares during the last quarter. Creative Planning grew its stake in Shell by 11.3% during the second quarter. Creative Planning now owns 292,587 shares of the energy company’s stock valued at $21,119,000 after acquiring an additional 29,677 shares in the last quarter. Finally, Mawer Investment Management Ltd. lifted its stake in Shell by 8.7% in the 3rd quarter. Mawer Investment Management Ltd. now owns 5,282,868 shares of the energy company’s stock worth $348,405,000 after purchasing an additional 422,329 shares in the last quarter. 28.60% of the stock is owned by hedge funds and other institutional investors.

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.