Shell plc (NYSE:SHEL) Shares Sold by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. lowered its stake in shares of Shell plc (NYSE:SHEL) by 4.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 335,848 shares of the energy company’s stock after selling 15,188 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Shell were worth $24,242,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Beaird Harris Wealth Management LLC lifted its position in Shell by 611.1% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 448 shares of the energy company’s stock worth $29,000 after buying an additional 385 shares during the period. Triad Wealth Partners LLC purchased a new position in Shell during the second quarter worth about $31,000. Allspring Global Investments Holdings LLC lifted its position in Shell by 90.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 495 shares of the energy company’s stock worth $33,000 after buying an additional 235 shares during the period. Fairman Group LLC purchased a new position in Shell during the fourth quarter worth about $45,000. Finally, LRI Investments LLC purchased a new position in Shell during the first quarter worth about $47,000. Institutional investors and hedge funds own 28.60% of the company’s stock.

Shell Stock Performance

Shares of NYSE:SHEL opened at $72.38 on Tuesday. The company has a market cap of $227.73 billion, a P/E ratio of 13.44, a PEG ratio of 1.61 and a beta of 0.59. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.12 and a current ratio of 1.41. Shell plc has a one year low of $60.13 and a one year high of $74.61. The business’s 50-day simple moving average is $71.79 and its 200 day simple moving average is $69.68.

Shell (NYSE:SHEL) last issued its quarterly earnings data on Thursday, August 1st. The energy company reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.15. Shell had a return on equity of 14.56% and a net margin of 5.97%. The firm had revenue of $75.06 billion during the quarter, compared to analyst estimates of $88.62 billion. During the same quarter last year, the firm earned $1.50 EPS. On average, sell-side analysts forecast that Shell plc will post 8.63 earnings per share for the current fiscal year.

Shell Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Friday, August 16th will be paid a dividend of $0.688 per share. 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 3.80%. Shell’s dividend payout ratio (DPR) is presently 50.74%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. TD Securities increased their target price on Shell from $74.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Argus raised their price objective on Shell from $77.00 to $79.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Wolfe Research started coverage on Shell in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Scotiabank cut their price objective on Shell from $95.00 to $90.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Finally, Berenberg Bank upgraded Shell to a “strong-buy” rating in a report on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, 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.