Shell (NYSE:SHEL) Price Target Cut to $80.00 by Analysts at Scotiabank

Shell (NYSE:SHEL) had its price objective dropped by investment analysts at Scotiabank from $90.00 to $80.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “sector outperform” rating on the energy company’s stock. Scotiabank’s price objective suggests a potential upside of 16.79% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Barclays upgraded shares of Shell to a “strong-buy” rating in a research report on Wednesday, October 2nd. Berenberg Bank upgraded shares of Shell to a “strong-buy” rating in a research note on Monday, August 5th. Royal Bank of Canada raised Shell to a “moderate buy” rating in a research note on Tuesday, July 30th. Wolfe Research initiated coverage on Shell in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Citigroup raised Shell to a “hold” rating in a report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.00.

Shell Trading Down 0.5 %

SHEL opened at $68.50 on Thursday. The business’s 50-day simple moving average is $69.58 and its 200-day simple moving average is $70.86. The company has a market cap of $214.46 billion, a P/E ratio of 12.23, a PEG ratio of 1.57 and a beta of 0.56. Shell has a one year low of $60.34 and a one year high of $74.61. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.12 and a current ratio of 1.41.

Shell (NYSE:SHEL) last released its quarterly earnings data on Thursday, August 1st. The energy company reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.15. The company had revenue of $75.06 billion for the quarter, compared to analysts’ expectations of $88.62 billion. Shell had a net margin of 5.97% and a return on equity of 14.56%. During the same quarter last year, the company earned $1.50 earnings per share. As a group, equities research analysts expect that Shell will post 8.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Shell

Several hedge funds have recently bought and sold shares of SHEL. Hobbs Group Advisors LLC acquired a new position in shares of Shell during the 2nd quarter valued at $26,000. Beaird Harris Wealth Management LLC increased its holdings in Shell by 611.1% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 448 shares of the energy company’s stock worth $29,000 after purchasing an additional 385 shares during the last quarter. Triad Wealth Partners LLC purchased a new position in shares of Shell during the 2nd quarter valued at approximately $31,000. Fairscale Capital LLC acquired a new stake in shares of Shell during the second quarter worth approximately $33,000. Finally, Fairman Group LLC acquired a new stake in Shell in the fourth quarter valued at $45,000. 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.