Wells Fargo Reaffirms Their Buy Rating on Shell (SHEL)

Wells Fargo analyst Roger Read maintained a Buy rating on Shell (SHELResearch Report) today and set a price target of $67.00. The company’s shares opened today at $57.95.

According to TipRanks, Read is a 5-star analyst with an average return of 13.5% and a 64.91% success rate. Read covers the Utilities sector, focusing on stocks such as Conocophillips, BP, and Chevron.

Currently, the analyst consensus on Shell is a Strong Buy with an average price target of $73.00, a 25.97% upside from current levels. In a report released on January 3, Bernstein also maintained a Buy rating on the stock with a $79.00 price target.

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Based on Shell’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $95.75 billion and a net profit of $6.74 billion. In comparison, last year the company earned a revenue of $60.04 billion and had a GAAP net loss of $447 million

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Founded in 1907, Netherlands-based Royal Dutch Shell Plc, commonly known as Shell, operates as an oil and natural gas producer. The company is engaged in exploration and extraction of crude oil, natural gas and natural gas liquids. The energy company operates through Integrated Gas, Upstream, and Downstream segments.

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