Shell plc (NYSE:SHEL) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC reduced its stake in shares of Shell plc (NYSE:SHEL) by 7.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,867 shares of the energy company’s stock after selling 2,530 shares during the period. Private Advisor Group LLC’s holdings in Shell were worth $2,168,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Hobbs Group Advisors LLC acquired a new position in Shell during the 2nd quarter worth $26,000. Triad Wealth Partners LLC acquired a new position in shares of Shell in the 2nd quarter valued at about $31,000. Fairscale Capital LLC acquired a new position in shares of Shell in the 2nd quarter valued at about $33,000. LRI Investments LLC acquired a new position in shares of Shell in the 1st quarter valued at about $47,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Shell in the 2nd quarter valued at about $49,000. 28.60% of the stock is owned by institutional investors and hedge funds.

Shell Stock Down 1.1 %

SHEL stock opened at $65.31 on Wednesday. Shell plc has a 52 week low of $60.34 and a 52 week high of $74.61. The company has a market capitalization of $203.25 billion, a price-to-earnings ratio of 12.04, a price-to-earnings-growth ratio of 1.84 and a beta of 0.56. The firm’s 50-day moving average is $68.49 and its two-hundred day moving average is $70.66. 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 (NYSE:SHEL) last released its earnings results on Thursday, August 1st. The energy company reported $1.97 EPS for the quarter, topping 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 business had revenue of $75.06 billion for the quarter, compared to the consensus estimate of $88.62 billion. During the same period in the previous year, the firm earned $1.50 EPS. On average, analysts forecast that Shell plc will post 8.45 earnings per share for the current fiscal year.

Shell Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, August 16th were issued 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 dividend yield of 4.21%. Shell’s payout ratio is currently 50.74%.

Analysts Set New Price Targets

Several research firms have recently commented on SHEL. Wells Fargo & Company lifted their price target on shares of Shell from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Citigroup raised shares of Shell to a “hold” rating in a report on Wednesday, October 2nd. Scotiabank reduced their target price on shares of Shell from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Barclays raised shares of Shell to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada raised shares of Shell to a “moderate buy” rating in a research note on Tuesday, July 30th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $82.00.

About Shell

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.