Shell plc (NYSE:SHEL) Position Boosted by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its holdings in shares of Shell plc (NYSE:SHEL) by 6.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,248,366 shares of the energy company’s stock after purchasing an additional 136,139 shares during the period. Envestnet Asset Management Inc. owned approximately 0.07% of Shell worth $162,287,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in SHEL. United Community Bank lifted its stake in Shell by 4.4% during the first quarter. United Community Bank now owns 3,315 shares of the energy company’s stock valued at $222,000 after buying an additional 139 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in Shell by 1.3% during the second quarter. First Horizon Advisors Inc. now owns 11,097 shares of the energy company’s stock valued at $801,000 after buying an additional 142 shares in the last quarter. Marcum Wealth LLC lifted its stake in Shell by 3.7% during the first quarter. Marcum Wealth LLC now owns 4,223 shares of the energy company’s stock valued at $283,000 after buying an additional 150 shares in the last quarter. Lester Murray Antman dba SimplyRich lifted its stake in Shell by 0.6% during the first quarter. Lester Murray Antman dba SimplyRich now owns 26,743 shares of the energy company’s stock valued at $1,793,000 after buying an additional 153 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in Shell by 5.9% during the fourth quarter. Jones Financial Companies Lllp now owns 2,907 shares of the energy company’s stock valued at $191,000 after buying an additional 161 shares in the last quarter. Institutional investors own 28.60% of the company’s stock.

Shell Price Performance

Shares of SHEL opened at $67.45 on Monday. The firm has a market cap of $211.17 billion, a PE ratio of 12.44, a PEG ratio of 1.51 and a beta of 0.57. The firm’s 50 day moving average price is $71.32 and its 200 day moving average price is $70.52. 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 twelve month low of $60.34 and a twelve month high of $74.61.

Shell (NYSE:SHEL) last announced its quarterly earnings results on Thursday, August 1st. The energy company reported $1.97 EPS for the quarter, beating the consensus estimate of $1.82 by $0.15. Shell had a return on equity of 14.56% and a net margin of 5.97%. The company had revenue of $75.06 billion for the quarter, compared to the consensus estimate of $88.62 billion. During the same quarter last year, the company posted $1.50 earnings per share. As a group, research analysts expect that Shell plc will post 8.61 EPS for the current fiscal year.

Shell Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Friday, August 16th will be issued a dividend of $0.688 per share. The ex-dividend date is Friday, August 16th. This represents a $2.75 annualized dividend and a yield of 4.08%. Shell’s dividend payout ratio (DPR) is presently 50.74%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SHEL shares. Argus increased their price target 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. Wolfe Research started coverage on shares of Shell in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Berenberg Bank raised shares of Shell to a “strong-buy” rating in a research report on Monday, August 5th. Wells Fargo & Company reduced their price target on shares of Shell from $91.00 to $90.00 and set an “overweight” rating for the company in a research report on Friday, June 21st. Finally, Royal Bank of Canada raised shares of Shell to a “moderate buy” rating in a research report on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.