Wells Fargo Maintains Overweight Rating for Shell: Here's What You Need To Know

Wells Fargo has decided to maintain its Overweight rating of Shell SHEL and raise its price target from $74.00 to $77.00.

Shares of Shell are trading up 1.98% over the last 24 hours, at $60.53 per share.

A move to $77.00 would account for a 27.2% increase from the current share price.

About Shell

Shell is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2022, it produced 1.5 million barrels of liquids and 7.9 billion cubic feet of natural gas per day. At year-end 2022, reserves stood at 9.4 billion barrels of oil equivalent, 50% of which consisted of liquids. Its production and reserves are in Europe, Asia, Oceania, Africa, and North and South America. The company operates refineries with capacity of 1.7 mmb/d located in the Americas, Asia, Africa, and Europe and sells 12 million tons per year of chemicals. Its largest chemical plants, often integrated with its local refineries, are in Central Europe, China, Singapore, and North America.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.