Raymond James & Associates Cuts Stake in Shell plc (NYSE:SHEL)

Raymond James & Associates lowered its stake in Shell plc (NYSE:SHEL) by 39.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,031,201 shares of the energy company’s stock after selling 667,046 shares during the quarter. Raymond James & Associates’ holdings in Shell were worth $68,008,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. International Assets Investment Management LLC increased its holdings in Shell by 5.0% during the 1st quarter. International Assets Investment Management LLC now owns 5,063 shares of the energy company’s stock worth $344,000 after purchasing an additional 239 shares during the last quarter. Global Assets Advisory LLC acquired a new stake in Shell in the first quarter valued at $2,286,000. Strategic Planning Group LLC increased its position in shares of Shell by 18.8% in the 1st quarter. Strategic Planning Group LLC now owns 9,232 shares of the energy company’s stock worth $619,000 after purchasing an additional 1,462 shares during the last quarter. Mcdonald Partners LLC bought a new position in shares of Shell during the first quarter worth about $200,000. Finally, Chemistry Wealth Management LLC increased its holdings in Shell by 7.3% in the first quarter. Chemistry Wealth Management LLC now owns 7,548 shares of the energy company’s stock valued at $506,000 after buying an additional 516 shares during the last quarter. Hedge funds and other institutional investors own 28.60% of the company’s stock.

Shell Stock Up 0.0 %

Shares of Shell stock opened at $67.05 on Tuesday. Shell plc has a 1-year low of $60.34 and a 1-year high of $74.61. The company has a market capitalization of $212.02 billion, a P/E ratio of 12.37, a PEG ratio of 1.58 and a beta of 0.56. The business’s fifty day moving average price is $69.11 and its two-hundred day moving average price is $70.85. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.41 and a quick ratio of 1.12.

Shell (NYSE:SHEL) last announced its earnings results on Thursday, August 1st. The energy company reported $1.97 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $75.06 billion during the quarter, compared to analyst estimates of $88.62 billion. During the same quarter in the prior year, the firm posted $1.50 EPS. As a group, research analysts forecast that Shell plc will post 8.44 EPS for the current year.

Shell Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, August 16th were given a $0.688 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.75 dividend on an annualized basis and a yield of 4.10%. Shell’s dividend payout ratio (DPR) is 50.74%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Berenberg Bank upgraded Shell to a “strong-buy” rating in a report on Monday, August 5th. Wells Fargo & Company increased their target price on shares of Shell from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Sanford C. Bernstein raised shares of Shell to a “strong-buy” rating in a report on Friday, October 11th. Wolfe Research started coverage on shares of Shell in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Royal Bank of Canada raised Shell to a “moderate buy” rating in a report on Tuesday, July 30th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $82.00.

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.