Scotiabank Forecasts Strong Price Appreciation for Shell (NYSE:SHEL) Stock

Shell (NYSE:SHEL) had its target price increased by analysts at Scotiabank from $80.00 to $91.00 in a report issued on Thursday, Marketbeat.com reports. The firm currently has a “sector outperform” rating on the energy company’s stock. Scotiabank’s price objective would suggest a potential upside of 27.33% from the stock’s previous close.

A number of other research firms also recently weighed in on SHEL. TD Cowen increased their target price on shares of Shell from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday. Wolfe Research downgraded shares of Shell from an “outperform” rating to a “peer perform” rating in a research report on Wednesday. HSBC reissued a “hold” rating and set a $78.30 target price (down previously from $78.90) on shares of Shell in a research report on Monday, August 4th. BNP Paribas raised shares of Shell to a “strong-buy” rating in a research report on Tuesday, September 23rd. Finally, Melius began coverage on shares of Shell in a research report on Wednesday, August 20th. They set a “hold” rating and a $70.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $79.71.

Shell Stock Performance

Shell stock opened at $71.47 on Thursday. The business has a 50 day moving average of $72.45 and a 200-day moving average of $69.75. Shell has a 1 year low of $58.54 and a 1 year high of $75.08. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.32 and a quick ratio of 1.07. The company has a market capitalization of $208.89 billion, a P/E ratio of 16.10, a P/E/G ratio of 1.87 and a beta of 0.39.

Shell (NYSE:SHEL) last released its quarterly earnings data on Thursday, July 31st. The energy company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.29. Shell had a return on equity of 10.67% and a net margin of 4.93%.The company had revenue of $66.44 billion during the quarter, compared to the consensus estimate of $69.31 billion. On average, equities research analysts predict that Shell will post 7.67 earnings per share for the current year.

Hedge Funds Weigh In On Shell

Institutional investors and hedge funds have recently modified their holdings of the business. Brighton Jones LLC lifted its holdings in shares of Shell by 51.7% in the 4th quarter. Brighton Jones LLC now owns 7,463 shares of the energy company’s stock worth $468,000 after purchasing an additional 2,545 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Shell by 44.0% in the 1st quarter. Farther Finance Advisors LLC now owns 9,719 shares of the energy company’s stock worth $710,000 after purchasing an additional 2,970 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Shell by 40.5% in the 1st quarter. GAMMA Investing LLC now owns 5,769 shares of the energy company’s stock worth $423,000 after purchasing an additional 1,662 shares in the last quarter. Simplicity Wealth LLC lifted its holdings in shares of Shell by 90.5% in the 1st quarter. Simplicity Wealth LLC now owns 9,745 shares of the energy company’s stock worth $714,000 after purchasing an additional 4,630 shares in the last quarter. Finally, Integrated Advisors Network LLC lifted its holdings in shares of Shell by 300.2% in the 1st quarter. Integrated Advisors Network LLC now owns 41,251 shares of the energy company’s stock worth $3,023,000 after purchasing an additional 30,943 shares in the last quarter. 28.60% of the stock is currently owned by 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.