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

Shell (NYSE:SHEL) had its price target lowered by research analysts at Piper Sandler from $82.00 to $72.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the energy company’s stock. Piper Sandler’s target price would suggest a potential upside of 18.54% from the stock’s current price.

SHEL has been the subject of a number of other research reports. Scotiabank decreased their price target on Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Sanford C. Bernstein raised shares of Shell to a “strong-buy” rating in a research note on Friday, October 11th. Wells Fargo & Company lowered their target price on Shell from $88.00 to $87.00 and set an “overweight” rating for the company in a research note on Monday, December 9th. Citigroup raised Shell to a “hold” rating in a report on Wednesday, October 2nd. Finally, Barclays raised Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $79.80.

Shell Stock Up 0.2 %

Shell stock traded up $0.11 during trading on Thursday, reaching $60.74. 3,253,230 shares of the company’s stock were exchanged, compared to its average volume of 4,208,678. The company’s 50-day moving average is $65.79 and its two-hundred day moving average is $68.89. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.40. Shell has a 52-week low of $60.34 and a 52-week high of $74.61. The firm has a market cap of $186.91 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 4.84 and a beta of 0.55.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SHEL. Fortitude Family Office LLC acquired a new position in shares of Shell in the 3rd quarter valued at about $30,000. Fairscale Capital LLC acquired a new position in Shell in the 2nd quarter valued at approximately $33,000. Valley Wealth Managers Inc. acquired a new stake in shares of Shell during the 3rd quarter valued at $33,000. Brooklyn Investment Group purchased a new position in shares of Shell during the 3rd quarter valued at $35,000. Finally, GHP Investment Advisors Inc. raised its holdings in shares of Shell by 40.8% during the third quarter. GHP Investment Advisors Inc. now owns 563 shares of the energy company’s stock worth $37,000 after acquiring an additional 163 shares in the last quarter. Hedge funds and other 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.