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Shell’s (NYSE:SHEL) American depositary shares recorded their seventh straight session of gains. The stock has gained 3.03% in the last six days.
The company closed 0.7% higher to $66.9, its highest in four months. Overall, shares are up 1.3% since the start of the year.
The stock is 3% away from all-time highs of $68.7.
Looking at Seeking Alpha’s Quant Rating, SHEL has a Hold rating with a score of 3.37 out of 5. The company received an A+ for profitability and a C+ for momentum, while, its growth and valuation prospects have been graded D- and B-, respectively.
Turning to the Wall Street community, five analysts give SHEL a Strong Buy, while six are Buy on the stock. Four analysts rate it at Hold.
Seeking Alpha analysts generally see the stock as a Buy.
Earlier in the day, Shell (SHEL) said it plans to divest ~500 gasoline stations annually in 2024-25, but Dow Jones said the company likely will continue to increase its retail network in the U.S.
“The key takeaway here is that no matter how the Shell stock is looked at, its prospects still look positive. While its revenues and earnings have dropped in 2023 there are risks ahead for the macroeconomy and from there, oil prices, in 2024, the potential gains from an investment in the stock outweigh the downside,” said SA analyst, Manika Premsingh.