Absher Wealth Management LLC Raises Stock Position in Shell plc (NYSE:SHEL)

Absher Wealth Management LLC lifted its holdings in Shell plc (NYSE:SHEL) by 1.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,063 shares of the energy company’s stock after acquiring an additional 218 shares during the period. Absher Wealth Management LLC’s holdings in Shell were worth $1,159,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SHEL. Team Hewins LLC purchased a new position in shares of Shell in the fourth quarter worth $769,000. Lazard Asset Management LLC grew its position in shares of Shell by 21.0% during the first quarter. Lazard Asset Management LLC now owns 44,896 shares of the energy company’s stock valued at $3,009,000 after purchasing an additional 7,779 shares in the last quarter. Raymond James & Associates increased its holdings in shares of Shell by 65.7% in the second quarter. Raymond James & Associates now owns 1,698,247 shares of the energy company’s stock worth $122,579,000 after purchasing an additional 673,624 shares during the last quarter. Westwood Global Investments LLC boosted its stake in Shell by 14.4% during the fourth quarter. Westwood Global Investments LLC now owns 2,417,326 shares of the energy company’s stock valued at $159,060,000 after buying an additional 304,871 shares during the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. purchased a new position in Shell during the 4th quarter valued at approximately $22,628,000. Institutional investors own 28.60% of the company’s stock.

Shell Stock Down 3.2 %

NYSE:SHEL opened at $69.40 on Wednesday. The stock has a fifty day simple moving average of $72.17 and a 200-day simple moving average of $70.32. The company has a current ratio of 1.41, a quick ratio of 1.12 and a debt-to-equity ratio of 0.35. The company has a market cap of $218.36 billion, a price-to-earnings ratio of 12.80, a price-to-earnings-growth ratio of 1.59 and a beta of 0.57. Shell plc has a twelve month low of $60.34 and a twelve month high of $74.61.

Shell (NYSE:SHEL) last issued its earnings results on Thursday, August 1st. The energy company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.15. Shell had a net margin of 5.97% and a return on equity of 14.56%. The business had revenue of $75.06 billion for the quarter, compared to analyst estimates of $88.62 billion. During the same period last year, the company posted $1.50 earnings per share. Analysts anticipate that Shell plc will post 8.58 EPS for the current year.

Shell Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Friday, August 16th will be issued a dividend of $0.688 per share. This represents a $2.75 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend is Friday, August 16th. Shell’s payout ratio is 50.74%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Argus upped their price target on shares of Shell from $77.00 to $79.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Berenberg Bank raised shares of Shell to a “strong-buy” rating in a report on Monday, August 5th. Scotiabank reduced their price objective on Shell from $95.00 to $90.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Wells Fargo & Company dropped their target price on Shell from $91.00 to $90.00 and set an “overweight” rating for the company in a report on Friday, June 21st. Finally, Wolfe Research started coverage on Shell in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.00.

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.