Shell plc (NYSE:SHEL) Shares Sold by 9258 Wealth Management LLC

9258 Wealth Management LLC decreased its holdings in shares of Shell plc (NYSE:SHEL) by 2.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,063 shares of the energy company’s stock after selling 288 shares during the quarter. 9258 Wealth Management LLC’s holdings in Shell were worth $726,000 at the end of the most recent quarter.

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

Shell Price Performance

Shares of SHEL stock traded down $0.17 during trading hours on Thursday, hitting $68.34. The company’s stock had a trading volume of 1,478,341 shares, compared to its average volume of 4,079,862. The company has a current ratio of 1.41, a quick ratio of 1.12 and a debt-to-equity ratio of 0.35. Shell plc has a twelve month low of $60.34 and a twelve month high of $74.61. The stock has a market cap of $216.10 billion, a price-to-earnings ratio of 12.64, a P/E/G ratio of 1.59 and a beta of 0.57. The business has a fifty day moving average of $72.12 and a 200-day moving average of $70.31.

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

Shell Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Friday, August 16th will be issued a dividend of $0.688 per share. This represents a $2.75 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date of this dividend is Friday, August 16th. Shell’s payout ratio is currently 50.74%.

Analyst Ratings Changes

Several research firms have recently commented on SHEL. Wolfe Research assumed coverage on shares of Shell in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Royal Bank of Canada upgraded Shell to a “moderate buy” rating in a research report on Tuesday, July 30th. Wells Fargo & Company decreased their price target on Shell from $91.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, June 21st. Argus raised their target price on Shell from $77.00 to $79.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Finally, Scotiabank lowered their price target on shares of Shell from $95.00 to $90.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.