Shell (NYSE:SHEL) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Shell (NYSE:SHEL) from a hold rating to a strong-buy rating in a report published on Tuesday,Zacks reports.

A number of other research firms have also recently weighed in on SHEL. UBS Group set a $90.00 price objective on shares of Shell in a report on Friday, September 25th. Wells Fargo & Company raised their target price on Shell from $100.00 to $105.00 and gave the company an “equal weight” rating in a research report on Friday, July 31st. Mizuho began coverage on Shell in a research note on Monday, July 20th. They issued a “neutral” rating and a $98.00 price target for the company. TD Cowen increased their price target on Shell from $107.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, September 28th. Finally, Morgan Stanley set a $101.30 price objective on Shell and gave the company an “overweight” rating in a report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $106.08.

Shell Trading Down 0.8%

Shares of NYSE:SHEL opened at $96.85 on Tuesday. The company has a current ratio of 1.43, a quick ratio of 1.12 and a debt-to-equity ratio of 0.36. Shell has a 12-month low of $68.63 and a 12-month high of $99.15. The business has a 50 day moving average of $93.33 and a two-hundred day moving average of $88.69. The company has a market capitalization of $271.53 billion, a PE ratio of 10.69, a PEG ratio of 0.79 and a beta of 0.10.

Shell (NYSE:SHEL) last posted its earnings results on Friday, July 31st. The energy company reported $3.52 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.29. Shell had a net margin of 8.55% and a return on equity of 14.34%. The firm had revenue of $94.66 billion during the quarter, compared to analyst estimates of $86.22 billion. As a group, analysts forecast that Shell will post 11.23 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SHEL. Veery Capital LLC acquired a new stake in Shell in the 3rd quarter worth about $205,000. Venture Visionary Partners LLC raised its holdings in shares of Shell by 10.5% during the third quarter. Venture Visionary Partners LLC now owns 6,756 shares of the energy company’s stock valued at $642,000 after acquiring an additional 642 shares during the last quarter. Retirement Wealth Solutions LLC lifted its position in shares of Shell by 57.8% in the third quarter. Retirement Wealth Solutions LLC now owns 478 shares of the energy company’s stock valued at $45,000 after acquiring an additional 175 shares in the last quarter. Cooper Financial Group boosted its stake in shares of Shell by 5.0% in the third quarter. Cooper Financial Group now owns 6,019 shares of the energy company’s stock worth $572,000 after acquiring an additional 288 shares during the last quarter. Finally, Weaver Consulting Group purchased a new stake in shares of Shell during the third quarter worth approximately $232,000. 28.60% of the stock is owned by hedge funds and other institutional investors.

Shell News Roundup

Here are the key news stories impacting Shell this week:

• Positive Sentiment: Shell expects its third-quarter indicative refining margin to surge to $42 per barrel, compared with $24 in the second quarter. Middle East-related market disruption and fuel-price volatility have significantly improved refining economics. Shell Signals Another Earnings Beat as Refining Profits Surge
• Positive Sentiment: Shell raised its third-quarter integrated gas production forecast to approximately 740,000–780,000 barrels of oil equivalent per day, up from the previous 570,000–630,000 range. The increase partly reflects production added through its acquisition of ARC Resources. Shell raises Q3 gas output forecast
• Positive Sentiment: The stronger refining outlook and higher gas output have prompted expectations for another earnings beat and a potentially strong quarterly report, scheduled for October 29. Shell flags stronger refining margins as third-quarter gas output rises
• Positive Sentiment: Zacks added SHEL to its Rank #1 (Strong Buy) lists for both overall stocks and income stocks, citing favorable earnings-estimate and value trends. Separate Zacks analysis also characterizes Shell as a growth and momentum stock. New Strong Buy Stocks for October 7th
• Neutral Sentiment: Shell CEO Wael Sawan said the company sees greater competitive potential in Venezuelan natural gas than in heavy oil, while continuing to evaluate opportunities there. Any benefit remains uncertain because of geopolitical and regulatory risks. Shell CEO sees competitive advantage in Venezuela gas versus heavy oil
• Negative Sentiment: Shell’s indicative chemicals margin is expected to decline to $208 per tonne from $270, partially offsetting the refining improvement. Investors may also be taking profits after the stock’s recent advance and near-record valuation levels.

Shell Company Profile

Shell plc is a global energy company headquartered in London, United Kingdom. Its operations span the exploration, production, processing, transportation and marketing of oil and natural gas, with an increasing focus on liquefied natural gas (LNG), lower-carbon energy and energy-transition solutions.

The company supplies fuels, lubricants, chemicals and other energy products to businesses, transportation customers and consumers. Shell also operates a network of retail service stations and provides charging services for electric vehicles, renewable power and related energy solutions.