Spire Wealth Management Trims Stock Holdings in Shell plc (NYSE:SHEL)

Spire Wealth Management trimmed its position in Shell plc (NYSE:SHEL) by 20.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,622 shares of the energy company’s stock after selling 1,934 shares during the quarter. Spire Wealth Management’s holdings in Shell were worth $550,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Hobbs Group Advisors LLC bought a new position in Shell in the 2nd quarter valued at $26,000. Triad Wealth Partners LLC purchased a new position in Shell during the second quarter worth about $31,000. Beaird Harris Wealth Management LLC increased its stake in Shell by 611.1% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 448 shares of the energy company’s stock worth $29,000 after acquiring an additional 385 shares during the last quarter. LRI Investments LLC bought a new stake in shares of Shell during the 1st quarter valued at about $47,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Shell in the second quarter worth approximately $49,000. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Analyst Upgrades and Downgrades

SHEL has been the topic of a number of research analyst reports. Wells Fargo & Company decreased their price target on shares of Shell from $91.00 to $90.00 and set an “overweight” rating on the stock in a report on Friday, June 21st. Wolfe Research started coverage on Shell in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Argus increased their price objective on Shell from $77.00 to $79.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. Berenberg Bank upgraded Shell to a “strong-buy” rating in a research report on Monday, August 5th. Finally, Scotiabank decreased 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 analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Shell has an average rating of “Moderate Buy” and a consensus target price of $85.00.

Shell Stock Performance

NYSE:SHEL opened at $71.66 on Monday. 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 fifty-two week low of $60.34 and a fifty-two week high of $74.61. The business has a 50 day moving average price of $72.20 and a 200-day moving average price of $70.22. The firm has a market cap of $225.47 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 1.58 and a beta of 0.59.

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

Shell Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders 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 annualized dividend and a dividend yield of 3.84%. Shell’s dividend payout ratio (DPR) is presently 50.74%.

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.