Shell (NYSE:SHEL) Rating Increased to Strong-Buy at Hsbc Global Res

Shell (NYSE:SHEL) was upgraded by investment analysts at Hsbc Global Res to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other research analysts also recently commented on the company. TD Securities reiterated a “buy” rating on shares of Shell in a report on Friday, April 4th. Scotiabank dropped their price target on shares of Shell from $75.00 to $70.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. Royal Bank of Canada restated an “outperform” rating on shares of Shell in a research report on Wednesday, March 26th. TD Cowen dropped their target price on shares of Shell from $82.00 to $76.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Finally, Piper Sandler boosted their price target on shares of Shell from $72.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $78.35.

Shell Stock Up 0.4%

Shares of NYSE:SHEL opened at $67.39 on Tuesday. Shell has a 1 year low of $58.55 and a 1 year high of $74.46. The firm’s 50-day moving average is $66.80 and its two-hundred day moving average is $65.87. The firm has a market capitalization of $202.71 billion, a PE ratio of 13.42, a price-to-earnings-growth ratio of 0.98 and a beta of 0.38. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.35 and a quick ratio of 1.10.

Shell (NYSE:SHEL) last posted its quarterly earnings results on Friday, May 2nd. The energy company reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.30. Shell had a return on equity of 12.75% and a net margin of 5.57%. The company had revenue of $69.23 billion for the quarter, compared to analyst estimates of $79.18 billion. During the same quarter last year, the company earned $2.40 EPS. Analysts predict that Shell will post 7.67 EPS for the current year.

Shell announced that its Board of Directors has authorized a stock buyback plan on Friday, May 2nd that permits the company to repurchase $3.50 billion in outstanding shares. This repurchase authorization permits the energy company to buy up to 1.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Kennebec Savings Bank acquired a new stake in shares of Shell in the 1st quarter valued at approximately $25,000. Avalon Trust Co acquired a new stake in Shell in the first quarter valued at $25,000. Brown Lisle Cummings Inc. boosted its position in shares of Shell by 103.4% during the 1st quarter. Brown Lisle Cummings Inc. now owns 356 shares of the energy company’s stock worth $26,000 after purchasing an additional 181 shares in the last quarter. Valley National Advisers Inc. grew its stake in shares of Shell by 930.2% during the 4th quarter. Valley National Advisers Inc. now owns 443 shares of the energy company’s stock worth $27,000 after purchasing an additional 400 shares during the period. Finally, CoreFirst Bank & Trust acquired a new stake in shares of Shell in the fourth quarter valued at about $28,000. 28.60% of the stock is owned by hedge funds and other institutional investors.

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.