Piper Sandler Has Lowered Expectations for Shell (NYSE:SHEL) Stock Price

Shell (NYSE:SHEL) had its price objective trimmed by Piper Sandler from $82.00 to $72.00 in a report issued on Thursday,Benzinga reports. The firm currently has an overweight rating on the energy company’s stock.

Other equities research analysts have also issued research reports about the stock. Barclays upgraded shares of Shell to a “strong-buy” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company cut their price objective on Shell from $88.00 to $87.00 and set an “overweight” rating on the stock in a research report on Monday, December 9th. Scotiabank decreased their target price on Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Sanford C. Bernstein upgraded shares of Shell to a “strong-buy” rating in a research report on Friday, October 11th. Finally, Citigroup raised shares of Shell to a “hold” rating in a research report on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $79.80.

Shell Price Performance

SHEL opened at $60.78 on Thursday. The firm’s fifty day moving average price is $65.63 and its two-hundred day moving average price is $68.83. The company has a market capitalization of $187.03 billion, a price-to-earnings ratio of 12.51, a P/E/G ratio of 4.84 and a beta of 0.55. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.40 and a quick ratio of 1.13. Shell has a 1 year low of $60.34 and a 1 year high of $74.61.

Shell Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, November 15th were paid a $0.688 dividend. The ex-dividend date was Friday, November 15th. This represents a $2.75 annualized dividend and a dividend yield of 4.53%. Shell’s payout ratio is 56.58%.

Institutional Investors Weigh In On Shell

Several institutional investors have recently made changes to their positions in SHEL. FMR LLC increased its stake in Shell by 5.2% in the 3rd quarter. FMR LLC now owns 65,298,943 shares of the energy company’s stock worth $4,306,465,000 after acquiring an additional 3,255,347 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Shell by 2.1% in the third quarter. Fisher Asset Management LLC now owns 24,530,647 shares of the energy company’s stock worth $1,617,796,000 after buying an additional 507,311 shares during the period. Dimensional Fund Advisors LP boosted its position in Shell by 0.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 22,722,317 shares of the energy company’s stock valued at $1,640,082,000 after buying an additional 96,549 shares during the period. Franklin Resources Inc. grew its holdings in Shell by 0.9% in the 3rd quarter. Franklin Resources Inc. now owns 5,972,945 shares of the energy company’s stock worth $408,430,000 after acquiring an additional 55,637 shares during the last quarter. Finally, Mawer Investment Management Ltd. raised its stake in shares of Shell by 8.7% during the third quarter. Mawer Investment Management Ltd. now owns 5,282,868 shares of the energy company’s stock valued at $348,405,000 after acquiring an additional 422,329 shares during the last quarter. Hedge funds and other institutional investors own 28.60% of the company’s stock.

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.