Wealth Alliance Decreases Stock Holdings in Shell plc (NYSE:SHEL)

Wealth Alliance reduced its holdings in shares of Shell plc (NYSE:SHEL) by 15.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,586 shares of the energy company’s stock after selling 1,946 shares during the period. Wealth Alliance’s holdings in Shell were worth $764,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SHEL. Hobbs Group Advisors LLC purchased a new stake in Shell during the second quarter valued at approximately $26,000. Beaird Harris Wealth Management LLC increased its holdings in Shell by 611.1% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 448 shares of the energy company’s stock valued at $29,000 after buying an additional 385 shares during the last quarter. Triad Wealth Partners LLC purchased a new stake in Shell during the second quarter valued at approximately $31,000. Fairman Group LLC bought a new position in shares of Shell in the fourth quarter worth approximately $45,000. Finally, LRI Investments LLC boosted its position in shares of Shell by 3,856.3% in the second quarter. LRI Investments LLC now owns 633 shares of the energy company’s stock worth $46,000 after purchasing an additional 617 shares during the period. 28.60% of the stock is owned by hedge funds and other institutional investors.

Shell Price Performance

SHEL stock opened at $68.16 on Thursday. Shell plc has a 52 week low of $60.34 and a 52 week high of $74.61. The company has a quick ratio of 1.12, a current ratio of 1.41 and a debt-to-equity ratio of 0.35. The company has a fifty day simple moving average of $71.05 and a two-hundred day simple moving average of $70.57. The firm has a market capitalization of $215.53 billion, a P/E ratio of 12.58, a price-to-earnings-growth ratio of 1.51 and a beta of 0.57.

Shell (NYSE:SHEL) last released its quarterly earnings data 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 net margin of 5.97% and a return on equity of 14.56%. The business had revenue of $75.06 billion during the quarter, compared to analyst estimates of $88.62 billion. During the same quarter last year, the business earned $1.50 earnings per share. Analysts anticipate that Shell plc will post 8.61 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 given 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 4.04%. Shell’s dividend payout ratio (DPR) is currently 50.74%.

Analysts Set New Price Targets

A number of research firms have weighed in on SHEL. Wells Fargo & Company dropped 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. Argus upped 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. Royal Bank of Canada upgraded shares of Shell to a “moderate buy” rating in a research report on Tuesday, July 30th. Wolfe Research assumed coverage on shares of Shell in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Scotiabank dropped their target price on shares of Shell from $95.00 to $90.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $85.00.

Shell 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.