Shell (NYSE:SHEL) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Shares of Shell PLC Unsponsored ADR (NYSE:SHEL) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $84.63 and traded as high as $89.13. Shell shares last traded at $88.4370, with a volume of 4,423,662 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SHEL. Piper Sandler lifted their price objective on Shell from $88.00 to $89.00 and gave the stock a “neutral” rating in a report on Monday. Wells Fargo & Company lifted their price target on shares of Shell from $100.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday, July 31st. Scotiabank increased their price objective on shares of Shell from $91.00 to $122.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 22nd. Erste Group Bank reaffirmed a “hold” rating on shares of Shell in a report on Tuesday, May 5th. Finally, Mizuho assumed coverage on Shell in a research note on Monday, July 20th. They issued a “neutral” rating and a $98.00 price objective for the company. Five analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to MarketBeat.com, Shell has an average rating of “Hold” and an average price target of $102.17.

Shell Trading Down 1.3%

The company has a 50-day moving average price of $84.02 and a 200 day moving average price of $84.63. The stock has a market capitalization of $247.94 billion, a P/E ratio of 9.76, a price-to-earnings-growth ratio of 0.59 and a beta of 0.05. 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 (NYSE:SHEL) last posted its earnings results on Friday, July 31st. The energy company reported $3.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.29. Shell had a return on equity of 14.34% and a net margin of 8.55%.The company had revenue of $94.66 billion for the quarter, compared to analyst estimates of $86.22 billion. On average, research analysts forecast that Shell PLC Unsponsored ADR will post 10.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Shell

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Shell during the 4th quarter valued at about $26,000. Zions Bancorporation National Association UT grew its holdings in shares of Shell by 186.7% in the fourth quarter. Zions Bancorporation National Association UT now owns 473 shares of the energy company’s stock valued at $35,000 after purchasing an additional 308 shares during the period. Nalls Sherbakoff Group LLC purchased a new position in Shell during the fourth quarter worth about $36,000. Ares Financial Consulting LLC acquired a new position in Shell in the 4th quarter valued at about $38,000. Finally, Allied Private Wealth LLC acquired a new stake in Shell during the second quarter worth $43,000. 28.60% of the stock is owned by hedge funds and other institutional investors.

About Shell

Shell plc (NYSE: SHEL) is a global integrated energy company that operates across the full oil and gas value chain as well as in developing lower-carbon energy solutions. The company traces its roots to the early 20th century merger of Royal Dutch Petroleum and Shell Transport and Trading, and today it is organized to explore for and produce hydrocarbons, process and refine them, manufacture petrochemicals, and market fuel, lubricants and related products under the Shell brand around the world.

Shell’s principal activities include upstream exploration and production of oil and natural gas, integrated gas operations including liquefied natural gas (LNG), and downstream refining, supply and marketing.