Prosperity Consulting Group LLC Sells 5,175 Shares of Shell plc (NYSE:SHEL)

Prosperity Consulting Group LLC trimmed its stake in Shell plc (NYSE:SHEL) by 15.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,025 shares of the energy company’s stock after selling 5,175 shares during the quarter. Prosperity Consulting Group LLC’s holdings in Shell were worth $2,095,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Hobbs Group Advisors LLC bought a new stake in Shell in the 2nd quarter valued at about $26,000. Triad Wealth Partners LLC bought a new position in shares of Shell in the 2nd quarter worth $31,000. Beaird Harris Wealth Management LLC increased its stake in Shell by 611.1% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 448 shares of the energy company’s stock valued at $29,000 after purchasing an additional 385 shares in the last quarter. LRI Investments LLC bought a new position in shares of Shell in the first quarter valued at $47,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Shell during the second quarter worth about $49,000. Institutional investors and hedge funds own 28.60% of the company’s stock.

Shell Price Performance

Shares of NYSE SHEL opened at $67.45 on Friday. 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 stock has a fifty day simple moving average of $71.32 and a two-hundred day simple moving average of $70.42. Shell plc has a 1-year low of $60.34 and a 1-year high of $74.61. The firm has a market cap of $213.28 billion, a price-to-earnings ratio of 12.44, a price-to-earnings-growth ratio of 1.50 and a beta of 0.57.

Shell (NYSE:SHEL) last announced its quarterly earnings data on Thursday, August 1st. The energy company reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.15. The company had revenue of $75.06 billion during the quarter, compared to analyst estimates of $88.62 billion. Shell had a return on equity of 14.56% and a net margin of 5.97%. During the same quarter last year, the firm posted $1.50 EPS. Analysts anticipate that Shell plc will post 8.61 earnings per share for the current year.

Shell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Friday, August 16th will be paid a $0.688 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.75 dividend on an annualized basis and a yield of 4.08%. Shell’s dividend payout ratio is 50.74%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SHEL. Scotiabank decreased their price objective on Shell from $95.00 to $90.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Berenberg Bank raised shares of Shell to a “strong-buy” rating in a report on Monday, August 5th. Royal Bank of Canada raised shares of Shell to a “moderate buy” rating in a research report on Tuesday, July 30th. Argus lifted 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, Wells Fargo & Company decreased their price target on Shell from $91.00 to $90.00 and set an “overweight” rating for the company in a research report on Friday, June 21st. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $85.00.

Shell 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.