Shell (NYSE:SHEL) Upgraded to Overweight at Morgan Stanley

Shell (NYSE:SHEL) was upgraded by equities researchers at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued on Tuesday,Benzinga reports. The firm presently has a $79.80 target price on the energy company’s stock, up from their previous target price of $66.50. Morgan Stanley’s target price suggests a potential upside of 23.28% from the company’s current price.

Several other analysts have also recently issued reports on the company. Barclays raised Shell to a “strong-buy” rating in a research note on Wednesday, October 2nd. Sanford C. Bernstein upgraded shares of Shell to a “strong-buy” rating in a research report on Friday, October 11th. Wolfe Research raised shares of Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 target price for the company in a research note on Friday. Citigroup upgraded shares of Shell to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Scotiabank reduced their target price on Shell from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $79.83.

Shell Trading Up 0.3 %

Shares of Shell stock opened at $64.73 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.40. The company has a fifty day moving average of $64.49 and a 200 day moving average of $68.17. The company has a market capitalization of $199.19 billion, a P/E ratio of 13.32, a P/E/G ratio of 4.84 and a beta of 0.55. Shell has a fifty-two week low of $60.15 and a fifty-two week high of $74.61.

Institutional Trading of Shell

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. NorthCrest Asset Manangement LLC raised its stake 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 during the period. Foresight Global Investors Inc. purchased a new stake in Shell in the 2nd quarter worth about $1,472,000. Rockefeller Capital Management L.P. boosted 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 period. Creative Planning grew its stake in shares of 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 buying an additional 29,677 shares during the last quarter. Finally, Mawer Investment Management Ltd. lifted its stake in shares of Shell by 8.7% during the 3rd quarter. Mawer Investment Management Ltd. now owns 5,282,868 shares of the energy company’s stock worth $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.