Miracle Mile Advisors LLC Has $957,000 Position in Shell plc (NYSE:SHEL)

Miracle Mile Advisors LLC lowered its stake in shares of Shell plc (NYSE:SHEL) by 1.5% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 14,280 shares of the energy company’s stock after selling 215 shares during the period. Miracle Mile Advisors LLC’s holdings in Shell were worth $957,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Fisher Asset Management LLC lifted its holdings in Shell by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 22,871,131 shares of the energy company’s stock valued at $1,504,920,000 after purchasing an additional 477,432 shares during the last quarter. Morgan Stanley boosted its position in Shell by 4.3% in the third quarter. Morgan Stanley now owns 9,356,191 shares of the energy company’s stock valued at $602,352,000 after buying an additional 384,967 shares in the last quarter. Wellington Management Group LLP boosted its position in Shell by 10.7% in the third quarter. Wellington Management Group LLP now owns 8,742,878 shares of the energy company’s stock valued at $562,866,000 after buying an additional 848,104 shares in the last quarter. Franklin Resources Inc. boosted its position in Shell by 2.4% in the fourth quarter. Franklin Resources Inc. now owns 6,173,651 shares of the energy company’s stock valued at $406,226,000 after buying an additional 143,910 shares in the last quarter. Finally, Mawer Investment Management Ltd. lifted its position in shares of Shell by 19.9% during the fourth quarter. Mawer Investment Management Ltd. now owns 5,325,276 shares of the energy company’s stock worth $350,403,000 after purchasing an additional 885,069 shares in the last quarter. Institutional investors own 28.60% of the company’s stock.

Shell Trading Up 1.0 %

NYSE SHEL traded up $0.69 during trading hours on Monday, hitting $72.87. The company’s stock had a trading volume of 2,844,246 shares, compared to its average volume of 4,381,560. The stock has a fifty day moving average of $71.51 and a 200 day moving average of $67.59. Shell plc has a twelve month low of $58.14 and a twelve month high of $74.61. The firm has a market capitalization of $231.71 billion, a P/E ratio of 13.48, a PEG ratio of 1.82 and a beta of 0.60. The company has a quick ratio of 1.14, a current ratio of 1.42 and a debt-to-equity ratio of 0.37.

Shell (NYSE:SHEL) last announced its quarterly earnings data on Thursday, May 2nd. The energy company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.51. Shell had a net margin of 5.83% and a return on equity of 13.83%. The business had revenue of $74.70 billion for the quarter, compared to analyst estimates of $88.03 billion. Equities research analysts forecast that Shell plc will post 8.55 earnings per share for the current fiscal year.

Shell Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Friday, May 17th were paid a $0.688 dividend. This represents a $2.75 annualized dividend and a yield of 3.78%. The ex-dividend date was Thursday, May 16th. This is an increase from Shell’s previous quarterly dividend of $0.66. Shell’s dividend payout ratio is presently 50.74%.

Wall Street Analysts Forecast Growth

SHEL has been the topic of a number of research reports. Wells Fargo & Company reduced their target price on shares of Shell from $91.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday, June 21st. Argus upped their target price on shares of Shell from $77.00 to $79.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Finally, TD Securities upped their target price on shares of Shell from $74.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $69.25.

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.